About which we are told:

As a commentator, using the name Calgacus, said in a comment on the blog yesterday:

Revenue is a pretty good word to use for taxation. What is bad is the idea that it provides income for the state. Revenue comes from re + venir; means to come BACK. It encapsulates the idea that taxation returns unto Caesar what originally came from Caesar, the correct spend first, tax later order.

Or, in other words, it is MMT compliant.

A search for “revenue etymology” provides that little chart. Plus this:

noun
noun: revenue; plural noun: revenues
income, especially when of an organization and of a substantial nature.
“traders have lost £10,000 in revenue since the traffic scheme was implemented”
synonyms: income, takings, receipts, proceeds, earnings; More
antonyms: outgoings, expenditure
a state’s annual income from which public expenses are met.
“his priority was to raise government revenue and to lower expenditure”
the department of the civil service collecting state revenue.
noun: the revenue
“when the revenue makes a demand for tax, that demand is implicitly backed by the powers of the state”

Or:

early 15c., “income from property or possessions,” from Middle French revenue, in Old French, “a return,” noun use of fem. past participle of revenir “come back” (10c.), from Latin revenire “return, come back,” from re- “back” (see re-) + venire “to come,”

A return from property or assets. Which is indeed MMT compliant I guess, given Ritchie’s insistence on Musso’s nothing outside the state. He’s insisting that everything does belong to the state, the rest of us just being farmed to produce a return.

8 comments on “

  1. Insane, utterly insane.
    The state had to spend first before it could create coinage because it had to buy the silver, copper or gold and pay a siversmith to cast the coins (experts please correct me if I’m wrong but I think that Athens started with olive trees and *silver mines in Attica* before it became the model for the East India Company).
    Murphy thinks that the state issues currency at the moment that it is created – it takes 0.01 seconds to build a mint and silver apears out of thin air.

  2. The irony of the Left insisting on etymology is particularly acute given their fondness for completely inverting the meaning of words.

  3. OT but over on Twitter there was an interesting comment on MurphyRichards timeline earlier today from Harris Tax:

    “Interesting that Tax Justice can’t afford the rich. Mind you who can. Perhaps they should ask Margaret Hodge’s offshore trustees to repeat their bailout of Tax Research.”

  4. A bright friend of mine, Bach/Masters Chemistry, PhD Math, basically said the same thing, “Everything belongs to the state, we are just being farmed.” His notion was based upon taxation where the gov “allows” us to keep what they deem proper, kinda like “seed corn.” US income taxes were over 90% at one point. Some years ago as a result of inflation his property taxes, which are forever & can never be paid off, exceeded his mortgage payment which had an end – property taxes are more like rent than anything else. The US gov has an exit tax deciding how much of “their stuff” you can take with you.

    The Chinese, et al, have noticed their harvest is greater letting people think they own stuff.

  5. The idiocy of thinking that the etymology of one of the terms we use is in any way determinative of anything – much less the workings of an economy – is utterly astounding. Well done, spud – well done, indeed!

  6. @John77: The Brown Bomber, Joe Louis, was heavyweight champ during the 90+% tax rates & the IRS claimed he, via his accountant, made a mistake on his return, & from then on with interest & penalties his taxes exceeded his earnings. He continued to box & earned millions, all taken away with more still due. Out of respect & sympathy German heavyweight Max Schmeling personally gave Louis money for a while to help him.

    There’s a case to be made we are being farmed.

  7. @ tex
    Do you actually remember watching Joe Louis? I was pretty young when my parents let me listen to Rocky Marciano thrashing Don Cockell.
    There’s a case to be made that we *were* being farmed under Toosevelt, Attlee, Wilson …

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