Richard Murphy says:
October 30 2015 at 6:40 pm
I can see no reason at all why tax encourages entrepreneurship

So the entire relief in my view is wasted


Head banging keyboard.

Richard Murphy says:
October 30 2015 at 1:39 pm
To pretend this has something to do with risk is absurd

Because most entrepreneurial risks actually lose money? Because we like people innovating? Because that’s the way technology advances, as with productivity, new entrants to the marketplace?

Hell, optimal taxation theory says the correct CGT rate is 0%.

11 thoughts on “Err”

  1. A lot of his stuff disappears like that, and it never existed. Only neo-liberal trolls hallucinate when they claim it did.

  2. Tim, isn’t that an argument for giving relief for capital losses (against other income) rather than not taxing gains?

  3. I saw those remarks on his blog. I was going to write a reply but … where do you begin?

    I suppose I could start by wondering what colour the sky is on his planet.

  4. A rare moment of self-awareness from Ritchie:

    Andrew Jackson says:
    October 30 2015 at 2:19 pm
    Perfectly ordinary SMEs. A lot of family companies, a fair few with wider ownership, a number of partnerships and LLPs, and so on.

    I can’t really say how they differ from yours, as I have no idea who your clients are – you don’t talk about them much.

    Richard Murphy says:
    October 30 2015 at 3:15 pm
    I don’t have many these days

    That can’t be a surprise to anyone

  5. His blog is full of the types of insights normally experienced by those high on ‘shrooms but which, on returning to reality, turn out to be unmitigated bollocks.

    Is Dick Murphy the world’s first economic shaman?

  6. He made a comment that everything should be treated as income even gifts
    The exchange between him and another tax advisor on the types of clients Murphy had as comical.
    As to taper relief he said he sold at the worst time for CGT, comes to something if you can’t even give yourself good tax advice

  7. I think the Corbynites seem to have disowned him. The Fair tax mark has been a complete flop – though the ‘Joy of Tax’ has sold ok, that’s arguably thanks to Cameron. His latest wheezes are repackaged Soviet era theories. His reputation has been destroyed by even the most moderate exposure to the wider media. He is a figure of comedy for Cityam and the Evening Standard. Even the Guardian has seen his overweening who and stepped back! As Dave says – tough times ahead….

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