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This is basically a prisoner dilemma on a global scale where the incentives are for single marginalised nations to leverage the fact of being tax havens to surv
by u_sama 11mo ago
This is basically a prisoner dilemma on a global scale where the incentives are for single marginalised nations to leverage the fact of being tax havens to survive globalisation. The dream of a single global tax is as possible as making China/US respect any of the agreements they have signed regarding trade and environment.
The same proposal is also criticized by many economists too, who argue that inequality has not risen as sharply as Piketty's crew claims, or that the bulk of that inequality is linked to the real estate, for which the only solution is build more houses and destroy the capital accumulation of older generation to the profit on newer ones.
1: https://www.brookings.edu/articles/deciphering-the-fall-and-rise-in-the-net-capital-share/ https://www.brookings.edu/articles/deciphering-the-fall-and-...
- andrepd 11mo agoRe real estate: indeed an LVT would go a long way to ameliorate the unsustainable situation regarding housing across Europe. It's a simple and efficient solution, and can be applied at the country level. But I would argue that the situation in housing is actually a consequence, and not a separate phenomenon, of the broader issue of inequality-driven asset price inflation.
- u_sama 11mo agoFuly agree, LVT seems to be a good incentive. As well as de-regulating, easing or digitilazing all the bureaucratic processus related to building so that the time between wanting to build and actually built nears 0. Also introduce anti-democratic laws that push the will of the group over the individual house owners who are motivated to block new contructions to see their number go up.