Well, isn’t that just dandy?

The Sage of Ely tells us that:

Labour markedly and appropriately challenge this. In practice the IFS doubt they can deliver but I in turn doubt some of the IFS assumptions: if they think there is a Laffer curve effect in the tax rate range that Labour is proposing then they’re wrong.

Hmm.

An income tax rate of 67, 68% won’t have any Laffer effects? Spudda will no doubt tell us about the Diamond and Saez paper. Then mutter something about 76% and so on. But that’s for a system without allowances. 54% is the peak with allowances – and yes, a residence based taxation system is an allowance in this meaning of the word.

Hmmm.

6 comments on “Well, isn’t that just dandy?

  1. And Corbyn isn’t going to borrow money, he’s going to issue bonds. Which isn’t how governments borrow money at all, no…

    What’s Spudda’s position on the nature of government bonds today, and what was it yesterday?

  2. Richard Murphy says he is non-Partisan.

    Here he is saying the Tories are to blame for excess deaths in the whole NHS:

    http://www.t*xresearch.org.uk/Blog/2017/05/26/for-the-next-two-weeks-talk-should-be-about-the-30000-excess-deaths-in-the-nhs-caused-by-austerity/

    Here he is saying Labour are not to blame for 1000 excess deaths in one hospital, it’s just a statistical outlier and you would be stupid to say the NHS kills people unnecessarily:

    http://www.t*xresearch.org.uk/Blog/2013/07/17/before-you-think-the-nhs-is-killing-thousands-of-people-unnecessarily-do-a-little-reading/

    The good Dr. Keith has even quoted Ritchie back at himself.

  3. His entire worldview does not permit the idea of disincentives (one of the reasons he is stiill by a margin the most stupid commentator extant in cyberspace today) – were he to acknowledge them his entire spiel would collapse even faster than normal

  4. Corbyn isn’t going to pay for any of the firms he nationalises. He will confiscate the owners’ property AND compel the owners to lend the ‘compensation’ to the Government: who may or may not run the firms well enough to afford to pay the interest on the loans. Since pension funds are prominent owners of those assets, Mr & Mrs Clapham-Omnibus-Passenger ought to start planning for a poverty stricken retirement.

  5. The youngsters in our family are rather lefty. But they’ve already decided which country to emigrate to if they are faced with Corbyn levels of income tax.

  6. Jeez. What a fraud Murphy is.

    He has himself mentioned the effect that bringing forward and then deferring of income had when the top income tax rate moved up to 50% then back down to 45%.

    Laffer would have predicted that.

    How can someone as completely stupid and inconsistent as Murphy survive in academia?

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