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well it's an explaination how Murphy and others would like it to work. there's a glaring flaw, complete omission of the Treasury in the process of spending, claiming the central bank does this (curiously avoids refering to Bank of England even once), then saying the central bank advances the...

how do we measure the resources available? through money, measured with the monetry supply M0, M1 etc. how do we expand that? through economic growth (conventional practice) or printing money (happens, usually with negative consequences). if we accept MMT, we have an infinite money supply...

not at all. it sounds like very different understanding of the word fair. i reckon fair is taxing everyone resonably the same, based on income, with some tiers for the better off. you say taking people's assets, focus on subgroups of the population, without care for the consequences (e.g...

least unfair option is to keep the tax base as broad on general population with few isolated impact on individuals. so indirect (sales, duties) taxes and income taxes. no coincidence these are the main sources of tax revenues across major countries.

is that really true, and they aren't mostly owned by owner occupiers? the problem with fixating on wealth taxes is you set up a tax system to punish holding wealth rather than a system generating revenue to pay for services. that's not helpful for investment.

the obvious place is a rise in income tax. 1p will raise something like £7bn, so 2-3 give gov £14-21bn more to spend. that's sort of amount need to cover all the promises. the second obvious place is higher rate pension relief, it's bonkers we give those earning over 50k 40% rebate into...