Another great assessment Tom. You may be aware, I have tried previously to promote my proposal on this platform through the IEA. I’m happy to see you take on board a scrapping of taxes on the one hand but replacing them with something else that again could be another but, different propping up of a broken model is not my way. Any taxation in its basic form should be enough to collect the tax amount required and be a simple and easy product of a fair and equitable trigger. Ad hoc versions of tax are in itself not simple nor fair or equitable. The reason why we think we need more taxes is predominantly because the basic fair ones are insufficient. But that theory doesn’t take account of the triggers for taxes. In our present system the triggers are SPENDING and MONEY having to change hands, like Council tax. Many people confuse this with receipt of income and assume income paid is the trigger that pays tax. But they are mistaken. Despite ‘Income’ being in the heading, taxes are not paid by the employee. It’s paid by employers from their profits from customers SPENDING with the employer who in turn SPENDS on the wages of employees. So the triggers are SPENDING. It’s money changing hands via SPENDING that triggers taxes. It’s based on wages but paid by business and employers SPENDING r earnings and income. We all pay VAT and duty on fuel, alcohol and tobacco again all taxes are triggered by SPENDING money. But the tax triggering off a pot of money by SPENDING is only as good as the amount in the pot! A small pot of money gets little SPENDING hence little tax take. So these other vehicles of taxes are a result of that pot being devoid of money and subsequent spending. So they try and gain more tax take by the shortfall. My view is not have many taxes Tom. Just one, vat. Via SPENDING of all MONEY having to be in the one pot. That will create such a high level of tax take the government will not need to borrow ever again. As they just adjust up or down the vat rate. The need for more taxes comes from their inability to control our money. Money is our sovereign matter. We should control every penny. We now have electronic banking so use it. Don’t allow money to go abroad. All £s stay in the uk. Under the same rules. Earn as much money as you can but you have to spend it back. Ensuring rotation and redistribution across our economy. Never should we be devoid of it. Reinstate the exchange controls we had before Thatcher. Take control of OUR money. Allow goods to flow but not money. That stays. Put a spend by date on all or at least most of income. Be rich off goods and services. Not money itself. Create a framework that ensures one fair tax for all pays our way. Vat will do that. Anything else is unnecessary and unwanted. Spending money is the key to a working economy. MS=R is the equation. With a time limit of a month ideal. Money multiplied by SPENDING equals Revenue. That revenue creates tax revenue within it. The more money the more spending the more revenue. Less money means less spending means less revenue and less tax take. Simples! It doesn’t need overcomplicating. It’s autonomous and perpetual. Start from that point of view and you get a framework for money flow and incentives to work we need.
Another great assessment Tom. You may be aware, I have tried previously to promote my proposal on this platform through the IEA. I’m happy to see you take on board a scrapping of taxes on the one hand but replacing them with something else that again could be another but, different propping up of a broken model is not my way. Any taxation in its basic form should be enough to collect the tax amount required and be a simple and easy product of a fair and equitable trigger. Ad hoc versions of tax are in itself not simple nor fair or equitable. The reason why we think we need more taxes is predominantly because the basic fair ones are insufficient. But that theory doesn’t take account of the triggers for taxes. In our present system the triggers are SPENDING and MONEY having to change hands, like Council tax. Many people confuse this with receipt of income and assume income paid is the trigger that pays tax. But they are mistaken. Despite ‘Income’ being in the heading, taxes are not paid by the employee. It’s paid by employers from their profits from customers SPENDING with the employer who in turn SPENDS on the wages of employees. So the triggers are SPENDING. It’s money changing hands via SPENDING that triggers taxes. It’s based on wages but paid by business and employers SPENDING r earnings and income. We all pay VAT and duty on fuel, alcohol and tobacco again all taxes are triggered by SPENDING money. But the tax triggering off a pot of money by SPENDING is only as good as the amount in the pot! A small pot of money gets little SPENDING hence little tax take. So these other vehicles of taxes are a result of that pot being devoid of money and subsequent spending. So they try and gain more tax take by the shortfall. My view is not have many taxes Tom. Just one, vat. Via SPENDING of all MONEY having to be in the one pot. That will create such a high level of tax take the government will not need to borrow ever again. As they just adjust up or down the vat rate. The need for more taxes comes from their inability to control our money. Money is our sovereign matter. We should control every penny. We now have electronic banking so use it. Don’t allow money to go abroad. All £s stay in the uk. Under the same rules. Earn as much money as you can but you have to spend it back. Ensuring rotation and redistribution across our economy. Never should we be devoid of it. Reinstate the exchange controls we had before Thatcher. Take control of OUR money. Allow goods to flow but not money. That stays. Put a spend by date on all or at least most of income. Be rich off goods and services. Not money itself. Create a framework that ensures one fair tax for all pays our way. Vat will do that. Anything else is unnecessary and unwanted. Spending money is the key to a working economy. MS=R is the equation. With a time limit of a month ideal. Money multiplied by SPENDING equals Revenue. That revenue creates tax revenue within it. The more money the more spending the more revenue. Less money means less spending means less revenue and less tax take. Simples! It doesn’t need overcomplicating. It’s autonomous and perpetual. Start from that point of view and you get a framework for money flow and incentives to work we need.