Rights to the Products of Earth for All, and Rights to the Products of Labor for Each.
Tax what you Burn, not what you Earn.
Presentation to the Trilevel Joint Legislative Task Force
Greetings, members of the distinguished Trilevel Task Force. As president of the local chapter of the north American Geoist organization, Common Ground-NYC, I would like to speak to you today about the job-stimulating effects of the Land Value Tax (LVT).
The LVT would shift taxes from wages, sales, and capital, onto natural resources (referred to as Land in classical economics). While taxes on wages, sales, and capital (real capital, like factories, buildings and cars etc.) discourages the production of all of these, taxes on Land actually encourages the use of new Land because they force landowners to either develop the land or to sell it to someone who can, in order to pay the LVT. According to Common Ground's research, there are over 22 square miles of vacant land citywide. This land isn't being used for affordable housing or for new businesses that can boost the city's revenues. By simplifying the tax system to the LVT, you also reduce company overhead and remove the incentive for lobbyists to inundate politicians looking for tax breaks and subsidies. More production and less corruption: a winning combination anywhere.
238 peer-reviewed studies  show the efficacy of the LVT. They are proof that the LVT always works if proper assessments are made and the LVT is applied uniformly to all land, regardless of what is built upon it. The opportunities for job creation this simple but profound change in the tax code would make are time-tested and dramatic. Many of our existing buildings, like the Empire State Building, were built at a time when we had something much closer to a Land Value Tax than we have today. We can return to that productive time.
I would also like to talk about the possibility of creating a State Bank, like North Dakota has had since 1919.
From the Bank of North Dakota's (BND) website: " All state funds and funds of state institutions are
deposited with Bank of North Dakota, as required by law ."  These monies are loaned through a network of community banks
in a harmonious relationship that benefits both the banks and the citizens of
North Dakota. The BND sailed through the crisis of the last couple of
years with a profit, unlike so many other larger banks, which had to be bailed
This is only the tip of the iceberg. The state has thousands of various government CAFRs with investments like this. What the citizens of New York need is a comprehensive and independent accounting - and analysis - of how to maximize these funds for the public benefit.