7 comments on “A guide to monetary theory

  1. What is Modern Monetary Theory?

    “One of the many tangible and intangible products, theories or other things discovered, invented or proved by polymath Richard Murphy.

    Others examples being, inter alia (this being only a short list of his achievements)

    Country by Country Reporting
    The Tax Gap
    Secrecy Jurisdictions
    Green Quantitative Easing
    The Fair Tax Mark
    The Corporate Accountability Network

    A practical mechanism for use of Nuclear Fusion for power generation
    The Second Law of Thermodynamics

  2. @BraveFart

    Not forgetting that Spud knows everyone and is always being asked questions by very important and anonymous people which allows him to write a blog answering the question,as in;

    “A very very important person prostrated himself at my feet the other day and begged me to impart my wisdom as to the meaning of life and here is what I said to him.

    Firstly……..”

  3. More wittering from Spud

    “Pension tax reliefs also create a perverse distortion. Since they are usually provided at a taxpayer’s highest marginal income tax rate many higher rate taxpayers get twice as much tax relief for each pound that they pay into their pension as does a basic rate taxpayer”

    They get twice as much tax relief because they pay twice as much tax.

    It costs a higher rate taxpayer £1 to put £1 into his pension. It costs the basic rate taxpayer £1 to put £1 into his pension.

    If Spud’s wittering held any consistent logic, the same would apply to any business expense. A higher rate tax plumber gets twice as much tax subsidy as does a basic rate tax plumber when he buys a wrench.

    The higher rate tax plumber will see his tax bill fall by £8 when he buys a £20 wrench, the basic rate tax plumber will see his tax bill fall by £4 buying the same wrench.

    Would anyone for a second claim that this creates an unfair situation or is an unfair assault on the nation’s finances?

    Sadly, such is the screeching power of the illiterati on tax that I can see this absurdity come to pass. Spud will claim it as his idea. However, higher rate taxpayers will simply seek other means of saving.

  4. There are kind souls who generously say that Capt. Potato talks out of his neck. Those of a less charitable disposition look at the embarassing effluvia that gush from him in abundance and argue for their origin being fundamental.

  5. Would anyone for a second claim that this creates an unfair situation or is an unfair assault on the nation’s finances?

    I think we all know that someone would.

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