Great conversation as always guys. Of course stamp duty should be abolished. It’s just a tax that is there to get more money from the system because the system without it can’t get enough tax revenue. It’s as ridiculous as your assumptions we can’t or shouldn’t afford state pensions! Your attitude at the IEA on this subject is about as far from reality as you could get. Economics surely isn’t about balancing the books at any cost, or is it? Most people within a democracy would either receive it or expect to receive it so, please, I urge you not to think in this way. Democracy of the 49% having to accept the will of the 51% means it will always trump you and that view. Most of those who have it or will need to expect it will in my opinion always exceed the 51%. To assume any private pension can give anyone the same guarantee of return when the time comes is deluded in their expectation of a safe alternative. No, I think you have to stop just trying to balance the books by further cuts. It’s too easy! And to be frank, I expect better minds to tackle head on the reality that growth is the holy grail to aim at. Guys don’t be frightened to approach growth. To say that our economic base must be able to generate more income for themselves and for the exchequer. And for that to happen more money must flow than at present and the only flow not presently flowing is the money being unspent each month! And who has that? Those who have it, not those who don’t! The extra ‘spending’ required to increase revenue and tax revenue is out there!! It’s not suddenly disappeared, it’s just not being spent as quick and as heavily as we need it to, to afford to pay for all our needs, including a proper state pension. Our state pension now, is less than a minimum wage. You try living off that.no, it’s the money held outside our daily economy. Held on to by banks funds and the mega rich, foreign country’s companies snd banks all that money not being spent now needs to be made to return. Made to be spent. To ensure enough tax is paid. I’m all for earning as much as you can. I’m not a communist! Be a billionaire. But unless it’s spent back we the majority will always be devoid of it! It’s unfair and undemocratic. Wealth is not money. It’s the purchases of the money. Money should be like blood in your veins or oil in an engine. Constantly flowing as an exchange, a fair exchange of work. A way of perpetual motion. An autonomous framework to keep our economy fuelled and well oiled by spending. Then have one tax. Vat. That’ll pay for everything once that tsunami of spending happens. The trouble is guys you have to stop looking at the balance sheet as it is now. And look at it if it would be then. I have got to encourage you to think in that space of 3 dimensions and 4 dimensions when money comes in, goes out yes! but returns snd in a faster time and greater weight meaning tax can be at last overflowing the coffers of our exchequer. It’s making our economy better. Your default will just make it snd us worse.
Great conversation as always guys. Of course stamp duty should be abolished. It’s just a tax that is there to get more money from the system because the system without it can’t get enough tax revenue. It’s as ridiculous as your assumptions we can’t or shouldn’t afford state pensions! Your attitude at the IEA on this subject is about as far from reality as you could get. Economics surely isn’t about balancing the books at any cost, or is it? Most people within a democracy would either receive it or expect to receive it so, please, I urge you not to think in this way. Democracy of the 49% having to accept the will of the 51% means it will always trump you and that view. Most of those who have it or will need to expect it will in my opinion always exceed the 51%. To assume any private pension can give anyone the same guarantee of return when the time comes is deluded in their expectation of a safe alternative. No, I think you have to stop just trying to balance the books by further cuts. It’s too easy! And to be frank, I expect better minds to tackle head on the reality that growth is the holy grail to aim at. Guys don’t be frightened to approach growth. To say that our economic base must be able to generate more income for themselves and for the exchequer. And for that to happen more money must flow than at present and the only flow not presently flowing is the money being unspent each month! And who has that? Those who have it, not those who don’t! The extra ‘spending’ required to increase revenue and tax revenue is out there!! It’s not suddenly disappeared, it’s just not being spent as quick and as heavily as we need it to, to afford to pay for all our needs, including a proper state pension. Our state pension now, is less than a minimum wage. You try living off that.no, it’s the money held outside our daily economy. Held on to by banks funds and the mega rich, foreign country’s companies snd banks all that money not being spent now needs to be made to return. Made to be spent. To ensure enough tax is paid. I’m all for earning as much as you can. I’m not a communist! Be a billionaire. But unless it’s spent back we the majority will always be devoid of it! It’s unfair and undemocratic. Wealth is not money. It’s the purchases of the money. Money should be like blood in your veins or oil in an engine. Constantly flowing as an exchange, a fair exchange of work. A way of perpetual motion. An autonomous framework to keep our economy fuelled and well oiled by spending. Then have one tax. Vat. That’ll pay for everything once that tsunami of spending happens. The trouble is guys you have to stop looking at the balance sheet as it is now. And look at it if it would be then. I have got to encourage you to think in that space of 3 dimensions and 4 dimensions when money comes in, goes out yes! but returns snd in a faster time and greater weight meaning tax can be at last overflowing the coffers of our exchequer. It’s making our economy better. Your default will just make it snd us worse.