Richard Murphy says:
October 30 2015 at 6:40 pm
I can see no reason at all why tax encourages entrepreneurshipSo the entire relief in my view is wasted
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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%.
I wonder if Murphy thought that CGT Taper Relief was an awful thing when he sold his partnership?
Is it my twitter client or did most of yesterday get memory-holed?
A lot of his stuff disappears like that, and it never existed. Only neo-liberal trolls hallucinate when they claim it did.
Tim, isn’t that an argument for giving relief for capital losses (against other income) rather than not taxing gains?
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.
A rare moment of self-awareness from Ritchie:
Hell, optimal taxation theory says the correct CGT rate is 0
Stop saying that!
0% tax on grants from charities to one man operations certainly encourages political entrepreneurship.
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?
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
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….