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Floyd Marinescu πŸ”° Profile
Floyd Marinescu πŸ”°

@floydmarinescu

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@InfoQ & @QCon co-founder, Founder of @UBI_Works , @CommonWealth_ca - Into health, wealth (economics), knowledge of Self.

Toronto
https://t.co/HLX5rG4AUx
Joined March 2008
Don't wanna be here? Send us removal request.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
10 months
We've completed a major update to our estimate of the revenue potential of a Land Value Tax in Canada. - LVT could generate $194 Billion/year and reduce income taxes for most Canadians or pay dividends - Land values could drop by 75% and median home prices by 42% Read on‡️
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 years
My TedX talk on universal #basicincome is out. Technology created the middle class and now is destroying it. A dividend is how we can preserve and expand it, but only if we come to see that technology is our shared inheritance. #ubi #YangGang
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Basic Income and the New Golden Age of Capitalism | Floyd Marinescu |...

Technology created the middle class and now it is destroying it. A universal basic income could preserve and expand a middle class way of life for everyone,...

www.youtube.com
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 years
Without #basicincome the future will be as dystopian as the present
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 years
Later today we’ll be on stage at infront it 2300 politico’s talking automation and jobs at the @OntLiberal leadership convention, supporting candidate @AlvinTedjo . #HumanityFirst #BasicIncome #UBI #YangGang
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 months
Tax incomes, you discourage work. Tax buildings, you discourage development. Tax capital, you discourage investments. Tax land... you encourage efficient land use. One of these is not like the others.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 years
Proud to have been one of the organizers of this.
@ubi_works
UBI Works πŸ‡¨πŸ‡¦
@ubi_works
3 years
We chanted Basic Income and UBI while marching up Yonge St. for the Toronto #BasicIncomeMarch today! The energy was electric and we had lots of support from people who saw us in DT Toronto. Cars even honked in support!
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 months
Adam Smith, the godfather of capitalism, strongly believed that we should tax land, not workers. Why tax what people have earned? We should tax what people have not earned. That would encourage more housing and make our economy work better.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 months
Practically none of Canada's housing pundits and politicians are acknowledging the elephant in the room: land value extraction. "In fact, there are four problems that quickly emerge when land value extraction is high: 1. The cost of the existing housing supply is artificially
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 years
We may be headed into a major recession or a depression. Mass layoffs are underway, and businesses won't hire back as quickly or as many during recovery due to the software and hardware automation we have now that we didn't during 2008. #basicincome #ubi is how we bounce back.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 months
Hunger isn't due to lack of food. Homelessness isn't due to lack of homes. They're the result of economic incentives that prioritize rent-seeking over human well-being.
@InternetH0F
internet hall of fame
@InternetH0F
3 months
america in a nutshell
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 months
Norway taxes oil profits 78% and companies still earn a fair return. In contrast, Canada is on track to lose 77% of our natural resource wealth to private extraction. That's about $1 trillion lost that could've been invested in sovereign wealth funds to benefit Canadians.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
2 months
"Adam Smith, credited with creating capitalism’s foundational works, criticized the state’s focus on taxing labor over land, which creates a natural land monopoly. The result is a gilded class that extracts the wealth created from labor, draining a nation of its ability to grow
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
1 year
Cities in Pennsylvania introduced land value tax shift (off buildings) and saw benefits to the local economy. β†’ more constructions & improvements β†’ vacancies dropped up to 90% β†’ most households saw tax cuts β†’ more local businesses established Here are some highlights ‡️
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
5 months
Here's a few more mythbusting truths that continue to bring people over to basic income. Did you know? - 70% of people in poverty work - 70% of Ontario Basic Income Pilot recipients were already working - 1/3 of employed pilot recipients found higher-paying work - The vast
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
2 months
The reason homes are unaffordable, in 1 chart. The housing crisis is just so profitable. This is the largest-scale wealth transfer ever, from the wages of renters and future generations who aren't lucky enough to inherit or buy earlier. 🧡
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 months
Instead of taxing what people don't earn, we're taxing what people do earn. It should be the other way around. That would encourage more housing and make our economy work better.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
2 months
Canadians should know that the largest statement ever in the history of economics - signed by 4K economists and 27 Nobel Laureates - calls for carbon dividends. That letter was organized by republicans. This shouldn't be a partisan issue, but someone Canada has made it one.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
24 days
97% of money was created by commercial banks as loans, mostly to buy existing assets like land. The result is a vicious feedback loop of ever-rising land prices and ever-increasing mortgages, trapping Canadians in lifetimes of crushing debt. Land value tax is a circuit breaker.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 months
"The housing crisis increases your value without you having to do anything... so why take the risk?" Spot onπŸ’― Great reel on how a land value tax can help fix the broken incentives driving Canada's housing crisis.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
7 months
The evidence is pretty clear that people continue to work when they get a basic income. In some instances, people with basic income work more and are more able to find better-paying work.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 months
Wow, there are now 96-year mortgages in Canada. This is not capitalism, this is feudalism with banks as permanent landlords.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
2 months
We now have decades of evidence that say the same thing: Basic income encourages work, supports training, and gives people the tools and freedom to seek better employment. It does this while growing the economy, while creating jobs and cutting poverty.
@ubi_works
UBI Works πŸ‡¨πŸ‡¦
@ubi_works
2 months
When Ontario's Basic Income Pilot was cancelled, Social Services Minister Lisa McLeod said β€œIt really is a disincentive to get people back on track”. Data from the pilot says otherwise:
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
2 months
When you hear housing crisis, think land crisis. Homes depreciate, but land goes up in value due to society's work around it. The fair thing to do, then, is to tax land instead of incomes or homes. That would encourage more housing and make our economy work better.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 months
Holy smokes Norway vs. Alberta $2 trillion vs. $20 billion sovereign wealth funds Comparable population, economy, and oil/gas production.
@CommonWealth_ca
Common Wealth 🍁
@CommonWealth_ca
3 months
Norway and Alberta have comparable population, economy, and resource production. But their sovereign wealth funds are $2 Trillion vs. $20 Billion (CAD). What gives?
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 months
Don't tax what's earned, tax what's not earned. Common resources should pay common dividends. These are ideas most people could get behind.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 months
In our economy today, it's unfortunate that a full day's hard work is taxed more than land wealth someone gains while sleeping.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 months
Practically none of Canada's housing pundits and politicians are acknowledging the elephant in the room: land. We can tax away every billionaire's net worth and it wouldn't come close to the impact of a land value tax to fix housing and lower taxes on jobs and homes.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
6 months
"We will have to consider UBI in some form. AI will cause great abundance, great GDP growth, great productivity growth, all the things economists measure, and increasing income disparity." - Vinod Khosla @vkhosla
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 months
Texas has high property tax but no state income tax. As Canadians grapple over new property tax hikes, it's a good chance to understand this trade-off. Property tax is least damaging to the economy, and LVT is even better. It could replace more harmful taxes on work.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 years
Canada has been the most generous with its people with a quasi #basicincome in the form of the $2000/month CERB, and now we see our economy faring better than others
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Canada’s AAA Rating Confirmed By S&P On β€˜Ample’ Fiscal Room

Canada’s AAA rating and stable outlook has been confirmed by S&P Global Ratings, which cited the country’s β€œample” fiscal and monetary buffer and its diversified economy.

www.bloomberg.com
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
2 months
There are 2 markets for homes: 1) for living 2) for wealth creation These 2 are fundamentally at odds. Homes can't both be affordable and great investments.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
1 month
Our economy today more closely resembles feudalism, rather than a truly capitalist system that rewards productivity and hard work. The housing crisis is the most visible symptom of this disease.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
2 months
Our economy today more closely resembles feudalism, rather than a truly capitalist system that rewards productivity and hard work. The housing crisis is the most visible symptom of this disease.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
5 months
In our economy today, it's unfortunate that a full day's hard work is taxed more than land wealth someone gains while sleeping.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
30 days
This isn't looking good for Canada. Sadly, this wedge will just get deeper as long as land is the primary wealth capture vehicle that's taxed less than work. Land value tax levels the playing field so no one group is advantaged over another.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
6 months
Housing can't both be a great investment and affordable. Something's gotta give.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
9 months
With Land Value Tax, the owner in both scenarios would pay the same. So the one on the right would have a strong incentive to put it to a higher use vs. just holding it for profit. This is how LVT would encourage more supply and help address housing affordability.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
21 days
It's crazy that some of the most in-demand land in Canada (and in the world) has density going DOWN. Our housing system incentivizes the very opposite of what we need, pushing people further away from jobs and loved ones. We need to be rewarding better land use, not punish it.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
1 year
For 5 years I've been focused on basic income advocacy as founder & funder @ubi_works . Today I'm excited to announce Common Wealth, a new project that expands this work ensuring all can benefit from our economic relationship to land and the environment. ‡️
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Basic Income alleviates poverty. Common Wealth proposes a better way to share and preserve Earth’s...
www.commonwealth.ca
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
6 months
A step in the right direction! #BasicIncome πŸ‘πŸ‘πŸ‘
@ubi_works
UBI Works πŸ‡¨πŸ‡¦
@ubi_works
6 months
BREAKING: Newfoundland and Labrador to launch basic income program for residents aged 60-64
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
2 months
Fun fact: PEI's all-party push for basic income is led by a Progressive Conservative government. Other provinces should realize this doesn't need to be a partisan issue.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
2 months
This is extremely alarming for Canada. "Businesses are closing and no one wants to replace them." There's a good reason many entrepreneurs like myself support basic income. It lets people take risks and boosts local business revenues β€” the backbone of economic dynamism.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 months
Some quotes from tonight's UBC local democracy & housing event: "We have 2 sets of housing systems, one for Indian people on Indian reserves, and another for everybody else. One of them is designed explicitly to generate wealth, and that's it. The other is designed to create
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 years
#basicincome is economic infrastructure to ensure people can pursue their potential, help with life transitions, compensate non-market labor, support entrepreneurship, job creation & wage growth, reduce exploitation & power imbalances, more efficiently reduce poverty.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
1 month
This is all the evidence we need of Canada's rapid descent into feudalism. Does anybody really believe the trend will be reversed by 2026? I'll reiterate: we need more homes built. But at this rate, more and more of it will just be scooped up by investors because land rents
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
6 months
Land is a big deal. Perhaps the solution to fixing the housing crisis lies there.πŸ”°
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
2 months
Massive news out of the UK: Out of 61 companies piloting a 4-day workweek, 89% decided to keep going. - Workers got more done, same pay, happier - Companies made 38% more revenue Keynes saw a 15-hour workweek in our future, enabled by automation. This is a step towards it.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
1 month
Here's a stat virtually no housing ministers/pundits talk about: 70% of Canadians would be happy/somewhat happy if housing prices came down. Politicians say they want affordable homes, without bringing prices down. By definition that's not possible. 2/
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
6 months
Housing economists have a great idea that could fix just about everything β€” Business Insider Yea, it's called Land Value Tax.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
8 months
This article in The Star tells hard truths about housing that many policymakers are still ignoring. If we want affordable homes, we must break our addiction to high and rising home prices, which come mostly from land values. "A lie skulks at the centre of the present debate on
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 years
#Basicincome March happening right now in Toronto. Group 1 of 350 people. Covid protocols being followed. @ubi_works
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
10 months
Tax buildings, you discourage development. Tax paycheques, you discourage work. Tax capital, you discourage investments. Tax land... you encourage better use. One of these is not like the others.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 months
When you tax work, you get less work. When you tax investment, you get less investment. Now... When you tax pollution, you get less pollution. When you tax land, you don't get less land - you get less speculation making homes unaffordable.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 months
The idea that basic income discourages work and causes inflation has been debunked for years. It improves the economy and encourages work.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
5 months
To many Canadians, it certainly feels like there are no solutions to the housing crisis. tl;dr: There's 3 options, each with their own trade-offs 1) Build out. More land for homes means less land for everything else. 2) Build up. Most neighbourhoods would change – perhaps
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
6 months
Incredible... Canada is on track to lose 77% of its mineral wealth to private extraction. That's equivalent to $956 BILLION or $24,000/Canadian of common wealth that could be invested in sovereign wealth funds to pay us dividends or reduce debts/taxes.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 months
The era of the bank as a permanent landlord is here. It's not true capitalism - it's the modern feudal system.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 months
BREAKING: Victoria Mayor @MarianneAlto appeared last night in front of Senate Committee on National Finance in support of Basic Income Bill #S233 . She says basic income could save us billions, allow people to do their jobs better, and boost local economies.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
6 months
Wow... new StatCan study shows how housing has become an inheritance culture in Canada. Hard work doesn't payoff like it used to - what matters more now is family wealth. Young adults are 2x as likely to own a home if their parents do, and over 3x if they own 3+ properties.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
8 months
Land value tax could make homes more affordable AND let Canadians keep more of their paycheques.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
6 months
'The notion that land is an undertaxed resource β€” and that this distorts markets in destructive ways β€” unites libertarians and socialists, has brought business owners together with labor groups and is lauded by economists as a β€œperfect tax.”' Massive piece in the New York Times
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
1 year
GPT-4 is another reminder that we must share the gains from artificial intelligence as broadly as possible. The people at OpenAI know this. Their governing nonprofit is structured so that it can "sponsor the world's most comprehensive UBI experiment." 1/7 ‡️
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 months
Here's the simple, but hard truth: homes can't be both great investments and affordable. Practically none of our housing pundits and politicians are talking about this.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
11 months
A major victory for Canada. This basic income for people with disabilities is a direct acknowledgement by our society that human value =/= economic value.
@ubi_works
UBI Works πŸ‡¨πŸ‡¦
@ubi_works
11 months
BREAKING: Bill C-22 to implement a Canada Disability Benefit β€” a guaranteed basic income for people with disabilities β€” has passed parliament. A major achievement in ensuring everyone in Canada can live with dignity!
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
5 months
Sam Altman is Time's CEO of the Year. The Time article talks about his keen interest in politics and land value tax, shaped by the ideas of Henry George. Indeed, Sam's been an ardent champion of LVT and UBI to promote human progress.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 years
#basicincome makes people unexploitable
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
6 months
"I think ( #BasicIncome ) may be the direction that we may need to go." πŸ‘πŸ‘πŸ‘
@ubi_works
UBI Works πŸ‡¨πŸ‡¦
@ubi_works
6 months
VIDEO: Stephen Poloz weighs in on UBI as a crucial 'automatic stabilizer' to help offset AI disruptions
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
1 month
People often talk about income and wealth inequality, without realizing that inequality in property ownership is at the heart of both. Property generates income, while property wealth begets more wealth. And most of that comes from the rent of land.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 years
The business community is for a basic income as a means of ensuring a faster and more inclusive recovery from this recession. This time we can ensure everyone has the means to take risks and maintain their self-reliance in these economically uncertain times.
@ubi_works
UBI Works πŸ‡¨πŸ‡¦
@ubi_works
4 years
60 CEOs employing 200K+ Canadians are calling on the Canadian government to implement an #EmergencyUBI . Business leaders know that #UBI is how we mitigate the damage caused by this pandemic and put us on track to economic recovery. #cdnpoli #UBIWorks
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 months
Many people wonder why land value tax won't just raise rents. The answer is simple: you can't create or destroy land. That's why economists consider it the 'least bad' (even 'perfect') tax. It could lower income or property taxes and encourage more housing supply.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
29 days
Capital gains tax increase controversy in Canada is missing a key point: that some gain is unearned and some is earned. The tax system could tax unearned gain more and earned gain less, thus making our financial incentives drive more productivity in our country.⬇
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
2 months
The greatest injustice in our economy is the fact that future generations have to pay past generations for wealth they didn't earn (mostly land). That's why land value tax is not only the most efficient, but the fairest solution.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
9 months
Land Value Tax and Carbon Rebates are based on a core tenet of public finance: tax economic rents and negative externalities. Economists consider them to be the best sources of revenue, better than taxing paycheques or homes. Why? Because it's efficient, effective, and fair.‡️
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
5 months
2023 was the best year ever for Land Value Tax in πŸ‡¨πŸ‡¦ mainstream media. More people are paying attention now when no other 'housing solution' seems to be working. Here's some of this year's LVT coverage in major Canadian networks ‡️
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 years
Innovation drives economic growth and human prosperity. The first country to implement a #UBI #basicincome will unlock the entrepreneurial and artistic potential of its people, and have first-mover advantage on the world stage.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
1 year
HALF of all new condos in Vancouver are bought by investors. Not people looking for a home. If we want to make homes affordable, we need to address this speculative demand to profit from rising land values, by taxing land instead of jobs.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
29 days
@harleyf I own multiple businesses & don't buy that this does great harm to Canada. Despite California's high cap gains taxes it is still the hot bed for entrepreneurship because people mostly start businesses in the ecosystems they know and are a part of.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
1 month
Canada will allow 30-year mortgages for first-time home buyers. This means that for the same monthly payment you can get $50k more credit to bid housing prices higher, in exchange for paying $200k more in interest long-term. A better solution would be land value tax. 1/4πŸ‘‡
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
9 months
Rent-seeking is the fundamental driving force of inequality, high cost of living, and the housing crisis. If we want to tackle those issues, we need to tax economic rents and return that value back to citizens via lower income taxes or universal dividends.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 months
If you're a libertarian, you should dramatically prefer taxing land to income. It's fair: you pay for what you use, not from what you make.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
6 months
Each step leads us closer to making it a reality! πŸ‘
@ubi_works
UBI Works πŸ‡¨πŸ‡¦
@ubi_works
6 months
πŸ”₯πŸ“·BREAKING NEWS: #BasicIncome pilot projects gaining traction nationwide.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
28 days
4 ways land value tax is better than the capital gains tax as we know it: - It taxes unproductive rents, not productivity - It can't be avoided - CGT captures price increase only, not rent - Primary residences are still 100% exempt from CGT
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
1 year
Norway shows how collecting rent from the value of our natural common wealth benefits everyone. "The natural resources in the ground, that’s something we own in common... We tax them and they stay, because they earn money even with a tax rate of 78%."
@DanielBleakley
Daniel Bleakley
@DanielBleakley
2 years
Former Prime Minister of Norway and current NATO chief @jensstoltenberg in 2014 explaining how Norway took control of their oil and gas industry and starting taxing them at 78% of profits building the $1.7 trillion Norwegian Sovereign Wealth Fund.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
9 months
Groundbreaking new CCPA report calls for a land value tax to address BC's housing crisis head-on, as part of a larger property tax reform that could reduce inequality, fund public investments, encourage efficient land use, and reduce taxes on home buildings and paycheques.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
28 days
When a neighbourhood improves, owners get the wealth; renters pay that wealth. This is a fundamental imbalance in our society that land value tax solves.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 years
@KnifeNerd @ubi_works A permanent #basicincome would give people the means to demand better pay and retrain for better jobs. It would also be a raise that would end working poverty and secure the middle class.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 years
#Basicincome is a sustainable investment from the cold hard lense of econometrics. There are no more excuses.
@ubi_works
UBI Works πŸ‡¨πŸ‡¦
@ubi_works
3 years
New report shows #BasicIncome can speed up Canada's recovery & grow the economy sustainably: πŸ’°$80B/yr in GDP πŸ‘©β€πŸ’Ό600K jobs πŸ“ˆ$15B/yr business investments to expand/hire πŸ’΅$32B/yr in total wages πŸ’ͺ3.2M families out of poverty Report & Highlights: #ubiworks
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 years
Many politicians talk about #BasicIncome but only 1 has actually introduced legislation to make it happen. @JulieDzerowicz proved herself a true champion for UBI and for that reason she has my endorsement. Davenport, send her back to finish what she started!
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 years
We need a positive story for the future of humanity. All roads run through economic reform. Check out this podcast for some of my ideas I've studied for several years. #ubi is only the beginning.
@AndrewYang
Andrew YangπŸ§’β¬†οΈπŸ‡ΊπŸ‡Έ
@AndrewYang
3 years
Now on @floydmarinescu the founder of @ubi_works discusses the future of UBI in Canada, the Canadian approach to cash relief, and the path to the Star Trek economy. Thanks Floyd!
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 years
There is fear of a #basicincome because we are afraid of our own greatness. What would happen if everyone were faced with their own potential? Knowing they could never ultimately fail? The freedom of that kind of choice expands our potential beyond most peoples comfort.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 months
This is a remarkable failure of political communications: 57% of Canadians aren't certain if their household received a universal carbon rebate. In Alaska, once they turned the Permanent Fund Dividend into physical cheques in the mail, nobody was willing to touch it.
@maxfawcett
Max Fawcett πŸ‡¨πŸ‡¦
@maxfawcett
4 months
This is a remarkable failure of political communications. #cdnpoli
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 months
Yea, it's called Land Value Tax. #LVT
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
16 days
Won't landlords just jack up rent with land value tax? No, LVT isn't passed onto tenants. If anything rents might go down as new supply comes online.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 months
I became an advocate for basic income after seeing how automation decimated Canadian manufacturing jobs in the 2000s and impacted my own family. Basic income is a raise for working people.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
1 month
Our whole political system is allied around raising housing values (mostly land) to make homeowners wealthy, at the expense of future generations and renters. That's why politicians must pretend they want affordable housing, without achieving it.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
4 months
A few more AI facts you should know: - The cost of an industrial robotics system fell below $20/hr in 2020, below the average worker’s wage. - 42% of Canadian jobs are at high-risk of automation with existing technology. - Canadian workers' share of income has steadily
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
2 months
This announcement entirely sidesteps the real reason homes are unaffordable: Our hyper-overindexing on homes (land) as the golden egg of wealth creation, pushing prices beyond the need to live. And banks are pouring gasoline on the market with infinite credit. 2/
@SeanFraserMP
Sean Fraser
@SeanFraserMP
2 months
If you pay your rent on time, that should count for something. We're going to make it easier to use your rental history to qualify for a mortgage so you can buy a home.
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
12 days
Canadian housing & land prices grew much, much faster than population alone would suggest. There's something else at work: rampant financialization, infinite credit, and soaring demand for land as the #1 source of unearned wealth. A few more charts to put things in perspective:
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
3 months
Canadians can look to Texas to better understand the trade-off of taxing property vs. income. Property tax is least damaging to the economy, and LVT is even better. It could replace more harmful taxes on work.
@arvindpawan1
Arvind P. Ravikumar
@arvindpawan1
3 months
Possibly #UnpopularOpinion : It’s actually good that Texas has high property taxes and zero income taxes! For most Americans, wealth is tied up in land/home ownership. Taxing this form of wealth is more equitable than income. OTOH, high sales tax on basic goods is bad!
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@floydmarinescu
Floyd Marinescu πŸ”°
@floydmarinescu
1 year
70% of Ontario food bank users spend 70%+ of their incomes on rent. If we want to fix food insecurity, we have to bring down the cost of housing with a land value tax. ‡️
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