'Tax the privileged and reduce the deadweight costs' – from Chris Cook, Claverton, letter in Financial Times

http://www.ft.com/cms/s/0/2b060736-2a1e-11de-9d01-00144feabdc0.html?nclick_check=1 Published: April 16 2009 03:00 | Last updated: April 16 2009 03:00 From Mr Chris Cook. Sir, I am sure British correspondents will also be pointing out that it is not just the US tax code that is broken (“Mending America’s broken tax code”, Editorial, April 14), but this misses a deeper point. The […]

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That financial crisis in full – G20 triumph – latest

The banks lost all their money, put pressure on the politicians who in London, agreed to give them all the money back, by taking our money and giving it to them for the next 20 years. The also agreed to leave the tax havens pretty much as they are – well the ones that people […]

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HOUSE OF COMMONS SEMINAR ON LAND VALUE TAXATION

    Organised by The Coalition for Economic Justice Hosted by Vince Cable MP Panel of Speakers: Sir Sam Brittan,  Financial Times Fred Harrison*,  Land Research Trust Prof Iain McLean,  Professor of Politics– Oxford University Ashley Seager,  The Guardian Molly Scott Cato,  Green Party Economics speaker David Triggs,  Henry George Foundation * Author of Boom […]

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HOUSE OF COMMONS SEMINAR ON LAND VALUE TAXATION, TUESDAY 24TH MARCH 2009

PRESS RELEASE London, 16 March 2009 Hosted by Vince Cable MP Chaired by Nick Ross Panel of Speakers: – David Triggs, Executive Chair of the Henry George Foundation – Iain McLean, Professor of Politics, University of Oxford – Ashley Seager, Economics correspondent, The Guardian – Samuel Brittan, Economics commentator, FT, author – Molly Scott Cato, […]

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Bill Powell explains the reason for the financial crisis, and how to get to the root cause.

It is estimated that 70% of the money that circulates is created in the form of loans ’secured’ against ‘property’. They circulate as money until the loan is paid off. If loans stop the money money in circulation dries up. That’s what happened. That’s the origin of the credit crunch.
The bubble came about by banks enticing people to take on higher and higher loans with more and more ‘affordable’ payment terms, e.g. interest only, self-certified income, low teaser (aka ‘fixed’) rates for a couple of years. They competed with each other until the loan to earnings ratio became unbelieveable. Then the bubble burst!

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CHANCELLOR RECEIVES PROPOSAL FOR RESOLUTION OF REPETITIVE BOOM AND BUST

I am writing this open letter to you on behalf of the Coalition for Economic Justice (CEJ). In response to the seriousness of the current economic crisis a number of think tanks, charities and pressure groups across the political spectrum recently decided to join forces as the CEJ. We propose the introduction of an annual Land Value Tax (LVT) to replace or reduce existing taxes on enterprise and labour in order to prevent future economic crises and alleviate the current one. The resolution below, passed at our first meeting sets out our broad position. (Set out at the foot of this letter is a list of the organisations concerned.)

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