It’s Thursday

Raise the zero rated income threshold to £36k.

By all means, increase tax on the rich but it won’t make any difference. They are already at their maximum propensity to consume and an extra 10 or 20% tax won’t change that.

Reply
Richard Murphy says:
May 21 2020 at 11:24 am
How would the government be paid for if more than 60% of people in the country did not pay income tax?

Today is a day when tax does pay for government spending.

20 thoughts on “It’s Thursday”

  1. Capt Potato has found his USP “One of the issues that is becoming very apparent in recent weeks and months is how hungry people coming here are for data and reliable opinion upon the economy.”

  2. Dennis, The Gilbert Gottfried of Central Ohio

    An exchange related to Spud’s “How much tax would you be willing to pay if you were wealthy” post:

    Dimwit Spud Commenter: What is the definition of “wealthy”?

    Spud: You decide.

    Isn’t that marvellous? It reminds me of the joke a Hungarian who’d escaped to the USA told me about communism.

    One day the local communist party leader is riding his bike around the village sounding out the villagers about their enthusiasm for communism and the party. He spies a villager working in a field, stops and gets off his bike.

    “Comrade, let me ask you a few questions.”

    The villager nods his head.

    “If you had four cows, would you happily give one to the party to further the glorious revolution?”

    “Of course, Comrade.”

    “If you had three cows, would you happily give one to the party to further the glorious revolution?”

    “Without hesitation, Comrade.”

    “If you had two cows, would you happily give one to the party to further the glorious revolution?”

    “Absolutely not, Comrade.”

    The local party leader is both shocked and puzzled.

    “Why is that, Comrade? Why wouldn’t you give up one of your two cows, after saying you’d give up one of your four and one of your three?”

    “Because, Comrade, I have two cows.”

  3. Yup tax or borrow thats it and I include borrowing form the future either by printing money or issuing bonds. I think I have seen the sort of voodoo free money shtick you are on about. Reminds me of what Wittgenstein said when it was pointed out that his conclusions invalidated some of his initial assumptions.
    He said his logical process was like using a ladder and once a ladder had been used to gain a certain height he was free to throw it away.
    I always felt the answer to that was …yes but its not like using a ladder?
    He would probably have said ..what ladder ?

    All good fun but don`t try it in real life

  4. Also filed under Thursday: “there’s absolutely no risk at all of inflation, the real risk is deflation” vs “but let’s raise lots of new taxes all over the place”

  5. Dennis, Yet Again

    All good fun but don`t try it in real life.

    The same could be said about whatever it is you’re smoking.

  6. Newmania
    It seems we can add Wittgenstein’s Tractatus Logico-Philosophicus (6.54) to the long list of things you don’t understand.

  7. “The SNP voted with Scottish Tories against country-by-country reporting yesterday: it was not their finest hour”

    Crikey, he’s falling out with the SNP now!

    “Burning bridges never made me cry
    I could walk away with no goodbye
    Easy take or easy leave them all”

  8. Diogenes syndrome is also known as senile squalor syndrome. ( It is a disorder characterized self-neglect squalor, social withdrawal, apathy, compulsive hoarding of garbage or animals, plus lack of shame …catatonia.)Something wrong with you anyway… weirdo.

  9. Facepainter aims to be a latterday Ramon Lull–save Lull tried to make it so his stock phrase wheels sounded as if they might have an intellect behind them but Face doesn’t care.

  10. Theophrastus

    Surely by recognising Wittgenstein’s propositions as senseless I have come to to see the world rightly …(?). Nah cannot claim to be deeply read in the chap. Seems to me his language stuff has been entirely superseded by Noam, Chomsky who I did once study.*

    (* By accident, my logic was that as I speak English, linguistics must be easy and leave more drinking time .. …..turned out badly )

  11. Dennis: Oppressor, Warmonger, Capitalist and Consumer of Petroleum Products

    If you studied the biolinguistics theories of Noam Chomsky without laughing then linguistics can be added to the growing longer by the minute list of things you don’t know anything about.

  12. Dear Mr Worstall

    “How would the government be paid for if more than 60% of people in the country did not pay income tax?”

    Less government?

    DP

  13. Government Backed People Smuggling

    French Navy Escorting Illegal Immigrants to British Waters for Handover
    “There is a growing problem that the media have until now refused to discuss. Criminal gangs are sending more and more dinghies full of people over from France.

    The French coastguard have now been caught by me on film helping to bring these boats to the half-way point then hand them over to the UK Border Force to escort to Dover. Today another 9 boats have been spotted.

    We have sent hundreds of millions to the French Government to stop this but it seems they have just pocketed the cash, since the problem is getting worse not better”

    This is what happened when Nigel Farage travelled offshore and witnessed an illegal migrants boat being escorted to the British Border Force by French Navy
    https://www.youtube.com/watch?v=tEW-nd2OsAo

    Nigel is furious, I’m furious too

  14. I’d argue that the money should be spent on towing the illegals back to France. It would be interesting to see how the game of shuttlecock would turn out.

  15. Presumably the illegals and the French Navy are claiming that the illegals are refugees and that the UK is the first safe country that they can reach because all the countries through which they have travelled are not safe…

  16. Has anyone told the potato that government has been around for several thousand years, income tax for around 200?

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