Currency, tax and welfare reform for a thriving post fossil-fuel economy

Or our most recent version after more discussion.
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The summary of the slideshow is as folllows:- What would the New Economics Party do?

We would allow Treasury to issue dated Tax Vouchers and spend them into existence buying up the land of property owners who opted in. Trades in the vouchers would be free of income tax, GST and company tax and they would be redeemable for tax up to their date.

The revenue would be shared with local government and no rates on that property would be payable.

When sufficient had accumulated, central government would issue a small Citizens Dividend to all men, women and children (in the case of a dependent it would go to the designated carer).

The land bought with Tax Vouchers would then be leasehold in perpetuity and the lease be a full ground rental. For urban land this would be around 5 percent of unimproved value depending on the zoning restrictions.  An index for each area would be set up and rents linked to that index, not to inflation.

The Tax Vouchers would be freely exchangeable with New Zealand dollars.  They would be issued at par and redeemed at par, and the market sentiment would determine their value in between.  Close control would be kept on the issuing of the vouchers to prevent inflation.

For tax fairness, property owners who did not pay tax would be required to sell their land to Government and render it leasehold. Why would we do it?

Monetary reform is needed to stop growing debt, bank control of money supply, wealth disparity and the economic growth imperative which is destroying our habitat.

Fundamental tax reform is needed to free up money for productivity. However changing from income tax to land tax is politically impossible while banks have control over issuing money as mortgages. Therefore a new way must be found.

Taxing labour, trading and enterprise is illogical. Taxing the monopoly use of the commons (land, water, minerals) is essential.

Basically we are saying leave the current system alone and create vouchers where the rules of trading are completely different.

It is also necessary to reform the welfare mess and the way local government is funded. What would be the result?

Liquidity would flow towards labour intensive industries and industries using New Zealand materials. Jobs for the post fossil fuel economy would be created. A whole wave of innovation and creativity would result from the growing of the Citizens Dividend and the tax reforms. Basics would become more affordable.

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