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Author: [Politics] Topic: Why was the term "rent seeking" banned from public discourse in politics?
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#26
Posted: 2/25/2012 3:07:42 PM
Calif is a good example, and Bay area it is exemplified. Good, coastal land is hard to come by. Imagine people that staked claims in the city, before/as it was being built. They owned some land, and decided to leave it plain and undeveloped. WHile the city is built up, we the people of that particular area collectively do a lot of work, producing, building, consuming, trading,,,,,all kinds of economic activity, that increases the value of that undeveloped land, solely because of it's location, it's scarcity, and the work of others. Then let's say those landowners decide they want to sell it in 2006. That would probably yield them top dollar, in the cities existence. Leaving the seller wealthy from the sale of the untapped land. How would we currently tax the proceeds of the sale? Keep in mind that because of Prop 13 in Calif, taxes are very low AND they are granfathered in to the site value upon last acquisition. NOt to mention the cost of the lost opportunity for any of the other millions of American economic actors that could have utilized that land of the course of the city's history

Do you believe that we can adhere to "all men are created equal", when they are born into a system where they have zero right to any land, and they are competing against peole that have benefited from the entire history of government action that has yielded them profit from the increased value of land that someone may have homesteaded?

So many famous Americans from history knew this was the problem that had to be solved. They called it "the land question". The most famous AMerican to have answered the question, in a detailed way so all could understand, was Henry George. Many founding fathers asked the same question (even though some of them were land speculators)

If you've ever played the game MOnopoly, know that it was the idea of a Georgist that invented the game. It was originally patented as "The Landlords Game", and instead of the end game we all grew to know, being one person playing landlord of all the land in the game, save the welfare button PASS GO GET 200, FREE PARKING, you were allowed to GO TO JAIL, everyone else is bankrupt and there is one winner.



http://en.wikipedia.org/wiki/History_of_the_board_game_Monopoly


funny how monopoly is the most popular game of all time. i guess would could question was it a brainwashing tool? Had everyone been playing Elizabeth Magie's The Landlord Game, maybe we'd have figured all this out back in the first Great Depression.  Rather, we all seem to prefer a Monopoly-esque board game be played out in real life.  Let's be honest, The real American Dream is to live as wealthy as possible, while exerting as little energy on working as possible
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#27
Posted: 2/25/2012 3:12:06 PM
link  13 minutes long youtube,,,,,,if any of this is interesting and you have 13 mins to spare

It's Michael Hudson speaking, if you've heard of him, he's a democrat economist. However, he strings some pieces together and you never hear people talk so honestly.

another leftist


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#28
Posted: 2/25/2012 3:46:49 PM
i'll have to catch up with this later.
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#29
Posted: 2/25/2012 9:51:52 PM
QUOTE Originally Posted by ClubDirt:

i'm not sure no one sees it.  aren't the goldman sachs and bear stearns and aig's of the world the ultimate rent seekers.  isn't a mortgage backed security a great example of a meticulously guided heat seaking rent seeking missile designed to obtain wealth for people without creating anything of substance?


apparently only liberals and leftists are rent seekers
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#30
Posted: 2/26/2012 6:36:42 AM
QUOTE

Originally Posted by dl36:



apparently only liberals and leftists are rent seekers

your comprehension skills are apparently as lacking as your substance

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#31
Posted: 2/26/2012 6:38:24 AM
its a joke... lighten up...
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#32
Posted: 2/26/2012 7:33:33 AM
QUOTE

Originally Posted by dl36:

its a joke... lighten up...

my apologies good sir

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#33
Posted: 2/26/2012 12:26:09 PM
QUOTE Originally Posted by dl36:

its a joke... lighten up...


aren't jokes supposed to be funny?

don't bother answering, you can just keep your crap about circle jerks and male bonding in every other thread you litter with that unreadable crap.  If we had a dollar for everytime you posted about the same meaningless garbage, where you flail around all lonely looking for any attention, about kkkkroger and slime and all that same old hat i've read you post over 15.7 trillion times, we'd be half way home to the Clinton surplus

please
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#34
Posted: 2/27/2012 6:15:01 AM
circle jerks?

male bonding is not my creation...

and it is KKkroger... cause of his racist BS
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#35
Posted: 2/29/2012 6:53:41 PM

Land, in an economic sense, is defined as the entire material universe outside of people themselves and the products of people. It includes all natural resources, materials, airwaves, as well as the ground. All air, soil, minerals and water is included in the definition of land. Everything that is freely supplied by nature, and not made by man, is categorized as land.

Land holds a unique and pivotal position in social, political, environmental and economic theory. Land supports all life and stands at the center of human culture and institutions. All people, at all times, must make use of land. Land has no cost of production. It is nature's gift to mankind, which enables life to continue and prosper.

Land's uniqueness stems from its fixed supply and immobility. Land cannot be manufactured or reproduced. Land is required directly or indirectly in the production of all goods and services. Land is our most basic resource and the source of all wealth.

Land rent is the price paid annually for the exclusive right (a monopoly) to use a certain location, piece of land or other natural resource. People receive wages for work, capital receives interest for investment, and land receives rent for the exclusive use of a location. Equity and efficiency require that the local general public, who created land value, should be paid for the exclusive use of a land site. That Payment is in the form of a land tax.

When considering world-wide economics, most people think that land rent contributes only a small insignificant portion of value. But as societies progress, land has become the predominant force in determining the progress or poverty of all people within a community. Land in major or cities is so costly that people are forced to move further away and travel great distances in order to get to work and social attractions. In the more developed countries of the world, land rent represents more than 40% of gross annual production.

Since land is fixed in supply, as more land is demanded by people the rent will increase proportionally. Demand is the sole determinant of land rent. Changes in land rent and land taxes have no impact on the supply of land, because the land supply is fixed and cannot be significantly expanded. Labor and capital are variable in supply. A higher price for commodities causes more labor and capital to make itself available. Labor and capital are rewarded for their work. A high price is an incentive to work harder and longer, while a low price is not an incentive to work harder and longer.



click - good read, for anyone interested

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#36
Posted: 6/12/2012 9:35:37 AM
Must watch

Our goal should be a tax of 100%, or close to 100% on the rents associated with natural resources -  Joseph stiglitz Nobel prize economist (for those of you that need validation from an authority
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#37
Posted: 6/12/2012 10:06:29 AM
north dakota is voting to eliminate property taxes  
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#38
Posted: 6/12/2012 10:17:17 AM
QUOTE

Originally Posted by captjohn67:

north dakota is voting to eliminate property taxes  

They can do it now, given their superior economic position (although it does not look like it will pass).

But I get the feeling that down the road, the Feds would 'somehow' need to bail out the ensuing shortfalls, circa California.

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#39
Posted: 6/12/2012 10:24:09 AM
don't think it will happen either, but found it rather interesting. That 800 mil has to come from somewhere. It would be nice to actually own my land and i would rather pay them in other ways myself.
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#40
Posted: 6/13/2012 9:30:02 AM
76% voted to not abolish property taxes
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#41
Posted: 6/13/2012 9:39:02 AM
QUOTE

Originally Posted by captjohn67:

76% voted to not abolish property taxes

While I have sympathy for high property taxes, I also understand it isn't as simple as eliminating them. I think that was the selling point to the majority.

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#42
Posted: 6/13/2012 9:46:29 AM
QUOTE Originally Posted by djbrow:

While I have sympathy for high property taxes, I also understand it isn't as simple as eliminating them. I think that was the selling point to the majority.

no doubt...not sure what number i was looking for here (and i tried to set one in my mind, but couldn't firm it up)

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#43
Posted: 6/13/2012 6:53:24 PM
QUOTE Originally Posted by be easy:

Must watch

Our goal should be a tax of 100%, or close to 100% on the rents associated with natural resources -  Joseph stiglitz Nobel prize economist (for those of you that need validation from an authority
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