Search results

Their paper explains it in detail. The leaders of the main political parties need to read it. Why do you think tax pays for public expenditure?

Whjat do you mean by "fiscal probity"?

The extra tax revenue doesn`t go torward anything. It's destroyed once it is returned to the exchequer. If you dont believe me, read "The "Self Financing State" a working paper written August 2022 by University College London`s Institiute for Innovation and Public Purpose. If you know...

I don’t think the moon landings were faked but I still think it feasible that large numbers of key staff could be under contract to maintain total secrecy in perpetuity. Bletchley was an example albeit for only thirty years-but why that long if the war ended in 1945. I don’t recall any info on...

Indeed, as was the case with the code breaking centre at Bletchley Park during WW2 which was kept secret until fairly recently.

The UK government doesnt need tax to "pay for increased support". Tax performs other functions in the economy. When the exchequer receives our taxes our banks reserve account is debited. The money is effectively destroyed. Thats it. There is no link between this process and government spending...

The tweet is mainly wrong, The function of tax is not to fund government expenditure. Some taxes may have to go up or down for other reasons.

I dont think so. He`s had quite a few successful stints as manager abroad and currently manager of the Greek National team!

None of the above. Last decent PMs were Clement Attlee followed by Harold Wilson

I dont think they do always start in China - theres some evidence that the Sars-Cov-2 virus was prevalent in the USA and elsewhere at the end of 2019 before the alleged Wuhan lab leek in China

They had two goodish candidates in Bernie Sanders and Tulsi Gabbard, and she has just left the democrats in disgust at their complete subservience to the military industrial complex

What sums would those be then? The IFS is a neo-liberal think tank

Great but the GIMMS paper showed they’d done the detailed work. Stephanie Kelton et al have done similar work in the USA

Sorry it’s a description of the system now not what you want it to be

At the risk of persisting with this severely off topic discussion - not just me then. Have you read the excellent Accouning Model of the Uk Treasury published by GIMMS? I found it a bit hard going as the details are in accountancy terminology but the summary is excellent?

Of course don’t agree that it’s completely off topic as an MMT understanding informs the discussion on what the alternatives are to the clusterfuck but I will read this with interest

Apologies. Look, I know its getting boring and too technical for some, but I was asked a specific question then critisised for not answering it., I wont say any more directly about MMT. MMTs ideas are relevant to critisms of Truss and the other parties oppostion (or lack of) to them. I will try...

If MMT proposed many of the things that you says it does then yes I would agree, it would be bollocks. But it doesnt. MMT describes how our system actually works now all the time. New money is being created all the time. Apart from the job guarantee, its not a set of policy proposals. Its...

I`ll keep it brief - MMT has not been discredited - please give evidence of this. MMT is a school of economic thought. All of economics is a pseudoscience in that sense as economic is a social science unlike chemistry or physics. MMT does not propose the unlimited printing of addtional money...

Patience! I’ve been busy. No need to head for the hills. I live in them