The welfare is the wastage and restraint that land prices place on the economy. There needs to be a land value tax or else just tax away the entire rent from land, as Henry George proposed.
The welfare is the state apparatus which enforces the property rights. The police, the lawyers and so forth. Do you really believe that your property title would still exist in the absence of state power, if there was no threat of state conducted violence enforcing the property title?
The welfare is also directly paid when the ABS calculate living costs to determine wage increases, pensions, centrelink payments. This is a direct welfare subsidy straight to landholders at vast expense to the whole economy. http://www.henrygeorge.org/pchp32.htm
