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Cheating and the Corporate Cannibals

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From http://www.flickr.com/photos/16801915@N06/8190409259/: Goldman Sachs Tower
Goldman Sachs Tower
(image by Reading Tom)


I met with long-time Finance and Land reporter, Fred Harrison: Research Director of the London-based Land Research Trust, in New York City, a couple of months ago.  We talked about the vast wealth inequities allowed by land monopolizers and rent-avoiders like Goldman Sachs. 

Goldman Sachs struck a deal with politicians to avoid paying property tax. Subsidized by the small businesses and home owners of New York City, the financiers are enriched, leaving the homeless searching for shelter at night. I argued that it doesn't make economic sense.  Fred Harrison simply calls it cheating.

Whatever you call it, it amounts to billions lost by New York City alone, and trillions worldwide.

A video of our efforts follows:



Expanding outward to the country at large, Georgist economist and Fred Harrison's sometime collaborator, Mason Gaffney, explains the loss of economic rent further.  US Governments could scrap their bad taxes and fund public services out of community-created rents. Another professor of economics, Nicolaus Tideman, calculates that income of the average American family would rise by $6,300. And yet, governments refuse to audit their fiscal performance to disclose the negative impact of political decisions on the economy. This denies citizens the information needed to make informed choices at elections.


 

Harrison has more videos in this series here:
http://www.youtube.com/user/sharetherents

For more information on Harrison's campaign, go to: http://www.sharetherents.org/

For further information on New York City's particular arrangements that leave working people paying a much higher percentage in property taxes than billionaires, see this slideshow I presented at the Henry George School (video pending) on similar and even more egregious examples of rent-seeking.  I promise, you'll never think of property taxes the same way again.



 

http://newthinking.blogspot.com/

Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a blogger for Huffington Post, Daily Kos, and Global Economic Intersection.

His anthology of updated Opednews articles was published by Tayen Lane Publishing (December, 2014) and may be found here:
https://tayen-lane.squarespace.com/america-is-not-broke/

Scott is President of Common Ground-NYC (http://commongroundnyc.org/), a Geoist/Georgist activist group. He has written (more...)
 

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Continuing in this theme I offer you the Korporate... by Clinton Callahan on Sunday, Nov 24, 2013 at 2:08:23 PM
Thanks for the link to this book Clinton Callahan.... by Daniel Penisten on Monday, Nov 25, 2013 at 2:36:37 PM
A Rose is a Rose. A ruling Aristocracy is a Ruling... by Textynn N on Sunday, Nov 24, 2013 at 7:48:04 PM
Well spoke "Textynn N". I are a "simpleton" Americ... by Daniel Penisten on Monday, Nov 25, 2013 at 2:47:56 PM
Bring back the greenback true!See Lincoln's Buried... by Clifford Johnson on Monday, Nov 25, 2013 at 1:08:04 AM
Taxing land values instead of incomes, purchases a... by David Chester on Monday, Nov 25, 2013 at 9:22:40 AM
Ted Turnerstan ranks 153rd on the rankings of coun... by Paul Repstock on Monday, Nov 25, 2013 at 9:33:31 AM
Scott looks like a young man, from his photo. But,... by Daniel Penisten on Monday, Nov 25, 2013 at 3:06:55 PM
Gosh, you're about the 20th person to suggest I ru... by Scott Baker on Monday, Nov 25, 2013 at 7:00:41 PM
Wow! I had no clue. I want everyone in NYC to watc... by Meryl Ann Butler on Wednesday, Nov 27, 2013 at 12:14:50 AM
Thanks!  It's not just Goldman Sachs, of cour... by Scott Baker on Wednesday, Nov 27, 2013 at 5:59:48 AM