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State and local officials propose drastic cuts in public services. There’s an alternative: restore the property tax. It’s the oldest wealth tax of all, the tax that financed Chinese civilization over 2000 years ago, the tax that until World War II financed most of government in the USA. The property tax? Our most hated tax? The tax . . . → Read More: To Save Essential Public Services, Restore the Original Wealth Tax! In The Great Crash of 2008, Mason Gaffney explained our current crisis as a manifestation of the roughly eighteen year real estate cycle–disastrously amplified by bad policy. Now he has published a sequel: How to Thaw Credit, Now and Forever. His solution may shock some readers, especially if they haven’t . . . → Read More: How to Thaw Credit, Now and Forever by Mason Gaffney This crash is The Big One; it has signs of becoming a Category 5. How do we know? We’ve “been there and done that” so many times before, roughly every 18 years over the last 800 or more. Major wars and, rarely, plagues have broken the rhythm, along with the little ice age, . . . → Read More: The Great Crash of 2008, by Mason Gaffney As Kevin Phillips recorded in Wealth and Democracy (2002), war has created the opportunity for many great fortunes. Thus the frenzied looting–and disregard for the lives of both US soldiers and corporate employees–displayed in Robert Greenwald’s new film Iraq for Sale: The War Profiteers. One small example: drivers shuttle empty mail trucks . . . → Read More: Benefits of Military Spending |
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