Shifting the burden of municipal property taxes towards land and away from improvements such as buildings - as proposed in the Detroit land value tax plan - will enhance the incentives for owners to develop their land and thereby give a substantial boost to local economic growth over a ten-year horizon.
Keyword: US states
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This week's European Economic Experts Panel statements:
A) A federal minimum wage of $15 per hour would lower employment for low-wage workers in many states.
B) A federal minimum wage that is pegged to state and/or local conditions such as the cost of living would be preferable to the current arrangements that give states a role in setting the policy.
This week's US Economic Experts Panel statements:
A) A federal minimum wage of $15 per hour would lower employment for low-wage workers in many states.
B) A federal minimum wage that is pegged to state and/or local conditions such as the cost of living would be preferable to the current arrangements that give states a role in setting the policy.
This week’s IGM Economic Experts Panel statements:
The balance of federal and local government support to address the economic impact of the crisis has thus far been tilted too much towards supporting firms rather than individuals.
Government provision of financial support to firms to keep workers on payroll for the duration of the lockdown will make the recovery faster than if the only recourse for workers to replace income were unemployment insurance.
This week’s IGM Economic Experts Panel statement:
Taking into account the revenues, consumer surplus, purchasing patterns by income, and possible consumer biases, state-run lotteries (such as Powerball and scratch-off games) increase social welfare.
This week’s IGM Economic Experts Panel statements:
A) When local governments compete by offering subsidies to a firm that is willing to relocate, and shopping across multiple alternative areas, the firm typically captures most of value that is created via the relocation.
B) A federal prohibition against states and municipalities offering tax subsidies to attract specific businesses that are shopping across multiple areas to relocate would be welfare improving for the average taxpayer.
This week's IGM Economic Experts Panel Statement:
All things considered, US society will be better off if sports betting becomes legal in more US states (beyond Nevada).
This week’s IGM Economic Experts Panel statement:
Providing state and local subsidies to build stadiums for professional sports teams is likely to cost the relevant taxpayers more than any local economic benefits that are generated.
This week’s IGM Economic Experts Panel statement:
Californians would be better off on average if all final users in the state paid the same price for water — adjusted for quality, place and time — even if, as a result, some food prices rose sharply and some farms failed.
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