Real estate for ransom
Have we been under a rock or what? This little gem has been around for a while. The idea expressed here is that by moving the taxation burden away from land and onto labour (income taxes) and consumption (GST), landlords and land speculators have been getting a free ride at the expense of everyone else in the economy. While this is not the only problem in the economy it is certainly a very large one. This is why land prices have gone into a bubble and will continue on a boom-bust cycle until land taxes are a larger tax base. This is also why income tax and GST is so high and will continue to get higher.