Most interesting

First on tax, he did almost nothing. He is simply letting inflationary stealth increase taxes over time by not increasing allowances. This has been done before, which is going to be a recurring theme of all that follows. It’s never been popular. It is regressive. We needed progressive tax change. We are not getting it.

When, a decade back, I was shouting that we need to increase the personal allowance to counter decades of stealth taxes by not increasing allowances I was told – by the P³ – that this was regressive and therefore I was a neoliberal fascist and the like.

Fun how descriptions of exact the same thing change over time, isn’t it?

9 thoughts on “Most interesting”

  1. Bloke in North Dorset

    In Richieland it heads he wins, tails you lose.

    If Sunak had raised personal allowances it would have been an evil Tory neoliberal plot to look after their mates.

  2. How can there be inflationary stealth taxes when Kim Il Gamja keeps telling us that there is no inflation?

    Oh, silly me. It’s Thursday.

  3. Jason says:
    March 4 2021 at 12:10 pm
    “If you base your forecasts on an economics that never gets forecasts right I guess that’s what you get” With respect the US bond market isn’t economics it is a collective weight of money from a wide range of investors..pension funds, charities, institutions, hedge funds and retail. I can’t make a call on inflation and what happens will happen, I can’t change it..but my point is QE and money stimulus only problem solves when inflation is under control, when it isn’t it ends and may even reverse.

    Richard Murphy says:
    March 4 2021 at 2:08 pm
    Or maybe they are led by people who think I oculi spending a bad thing as it creates inflation It won’t because there is considerable excess resource to use in the US. But dogmatically they think otherwise and use their collective power to price bonds inappropriately.
    By the time that their error is found the damage has been caused, and then they will claim that thy were right, even when wrong

    What the fukc is Murphy on about “they price bonds inappropriately”… though the Fed has manipulated the market through QE he refers to “they” as the market.. he has lost the plot?

  4. Scum as Spud is, far more dangerous is Spewknack extending funny money to Sept. It says they have NO intention of ending LD regardless of how many mugs turn their rumps up for injection. A pisspot little summer break and then back to the lies with flu conveniently on the lam for another year.

    Blojob Bogus Johnson is desperate to posture as vax saviour in hopes we forget all the LD deaths he has caused. But it looks as if the cunt not only thinks he can save his own hide but be a good little lad for the globo elite also.Have his cake and stick his dick in it as well.

    Makes no sense as stupidity any longer. Nobody is that dumb–not even Spud.

  5. First on tax, he did almost nothing.

    … “that I had been calling for”

    And for that at least we can be grateful

  6. that this was regressive and therefore I was a neoliberal fascist and the like.

    Well, he is a fascist so I guess its only natural that he come around eventually. Of course, by next Thursday he’ll be spouting something that contradicts this anyway.

  7. Interestingly, the latest figures from the USA suggest goods inflation of 5%. How high does it have to be before Donkey Dick admits his mistake?

  8. led by people who think I oculi spending a bad thing

    For a moment I thought “I oculi spending” was some obscure economic term I wasn’t aware of. Then I realised who wrote it. I assume he meant to thump “public spending”.

Leave a Reply

Your email address will not be published. Required fields are marked *