I conceived of the Tax After Coronavirus (TACs) project after very recently re-reading Keynes’ ‘How to pay for the war’.

He didn’t read it very well.

Spudda is recommending price controls, rationing and excess profits taxes. Even in the introduction Keynes tells us that all three of these are inefficient and undesirable.

22 thoughts on “Amazing”

  1. Please don’t suggest that Capt Potato is an incompetent lying shyster. That would shock all of your readers to their cores

  2. The Meissen Bison

    To clarify for Capt Potato:

    I conceived of the Tax After Coronavirus (TACs) project after very recently re-reading Keynes’ ‘How to pay for the war’…

    …and realising that Keynes was completely wrong.

    (He doesn’t actually mean the “re-” part of “re-reading”. He doesn’t strictly mean the “reading” part either. He means skimming the Wiki entry. Opening sentence).

  3. That didn’t stop Attlee maintaining price and rent controls and extending rationing to bread, which hadn’t been rationed during the war. He didn’t need excess profits tax because the price controls eliminated excess profits except for spivs who wouldn’t dare report them.
    Murphy supports these demonstrably bad ideas – isn’t that to be expected?

  4. Dennis the Essential

    The first mistake everyone’s made is taking Spud’s word that he’s read anything by Keynes. Ever.

  5. These times must what he has drooled over.

    Government taking over, deciding who eats, who comes and goes. The population in lockdown, leading simpler, duller, controlled lives.

    He probably dreamt that when this time arrives, he would be behind a big desk calling the shots.

    And yet he is working for nothing pleading for donations without even regular paid employment.

    Funny old world.

  6. My ‘Tax after Coronavirus’ will show my true genius, and I will overshadow every previous and contemporary economist…I will be showered with praise and I will be offered, by wide acclaim, a major professorial chair of economics and governments will seek my advice, and…

    Such is his fantasy as he beats his meat and such is what he savours as he wipes the semen from his keyboard.

  7. Bloke in North Dorset

    “ Spudda is recommending price controls, rationing and excess profits taxes. Even in the introduction Keynes tells us that all three of these are inefficient and undesirable.”

    The Wikipedia summary says he covers them but is neutral on whether Keynes advocated them or not. It’s easy to see how someone with his well known internal biases would assume that Keynes argued for them.

  8. Snippa will get his funding imv. He’s very good at writing grant applications, frequently deceiving award panels into giving his LLP money when the grant rules clearly forbid awards to individuals. For practical purposes his LLP is one person.
    He’s just not likely to get any money while we’re in lock-down and while the EU don’t have a budget (ha). Thoughts are elsewhere naturally, and awarding bodies aren’t going to be meeting.

  9. The bumptiousness of pointlessness, as Hannah Arendt might have put it.

    The soaring ambition of lightness, as K Widmerpool might also have rendered the matter.

  10. I am slightly busy saving my job at the moment but watching your general argument in favour of markets at this time I was wondering how you felt about the profits that will be made from treatments and a vaccine for corona virus]. Scarcity becomes an rather explosive ]topic under such circumstances doncha think?
    When does profit become profiteering if you like. I am a keen fan of free trade and markets, but I also see them as part of a wider social and cultural landscape. This is why I detest swapping real customers and suppliers in Europe for rhetorical waffles / shit spouted by the retired and uninvolved. Most people in my sort of position feel the same way as you might imagine

    in my left hand- money
    in my right hand -what some fat politician convinced a bunch of silly old ladies

    Take your pick ,anyhoo are you going to be applauding big pharma letting the poor die so as to maximise profits ?

  11. Spudda is recommending price controls, rationing and excess profits taxes.

    Well, I never saw that coming

  12. @ Newmania
    Big pharma doesn’t make any money from letting the poor die – it makes money by providing medicines/vaccines to heal/protect from illness people whose insurance company or government pays them. Meanwhile Glaxo provides anti-malarial drugs free to poor African countries. Glaxo and Sanofi have announced a collaboration to find and produce a vaccine from which they will take no profit (thereby imposing a, relatively minor loss on their shareholders as the financing cost for working capital will not be reimbursed). So I have no feeling whatsoever about the profits that they will make from a coronavirus vaccine as there isn’t anything to feel.
    The offensive price-gouging profits made by some American companies are the result of the *unfree* market controlled by the FDA.

  13. The Meissen Bison

    Newmie – look on the bright side: there will be lots of empty bungalows soon which should ease the housing shortage even though it will take loads of air-freshener to clear away the miasma left by their late and recent occupants.

    Do you really write the wording of insurance documents? You might find it easier [o keep ][ your job if you cou[d improve your typing.

  14. Newmania

    There is no “swapping” in the binary sense that you imply. Pre or post Brexit most likely isn’t going to change your personal decision to replace your Merc / Duster / whatever.

  15. I imagine Newmania must be absolutely fvcking apoplectic at the turn of events over the last year or so.

    First the fvcking oldies tank our prospects by voting for Brexit and the Tories, second the entire economy and our way of life is utterly trashed because we lock everything down simply because a largely innocuous virus takes the oldies out in droves and in dying from it they crash our health, care and funeral services.

  16. The “cheap basic rations” advocated by Keynes actually exists, it’s called Lidl. And with no direction from Government.

  17. jgh, and not so basic if you desire. I have been buying more than usual from my local independent shops but there are some thing they do not have and are far more expensive. (I am happy to pay a premium for fresh local produce and deli items but not for everyday branded goods.) Went to Lidl for the first time in a month yesterday, had all the things I usually buy including their ‘deluxe’ ranges.

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