Parliament has been prorogued. I happened to be in Westminster last night. There were a lot of unhappy members about. For me the timing is useful. Teaching commitments mean that time for blogging might be tight over the next few days. Please do understand if, at the very least, moderation is sporadic.
Category Added in a WPeMatico Campaign
This is my kind of macroeconomics: The abstract says: The case for central bank independence is built on an intellectual two-step. Step one argues there is a problem of inflation prone government. Step two argues independence is the solution to that problem. This paper challenges that case and shows it is based on false politics […]
If you want a giggle this analysis of MMT from a hard Marxist perspective is amusing for the politics and economics geek. Written by Adam Booth, it could have been improved by even a little reading of what MMT is about. It makes the most basic of errors. So many in fact, I have no […]
As the FT notes this morning, an IMF report authored by Jannick Damgaard, Thomas Elkjaer, and Niels Johannesen of Copehngane University has suggested that: A large proportion of the world’s stock of foreign direct investment is “phantom” capital, designed to minimise companies’ tax liabilities rather than financing productive activity, according to research. As they note: […]
IPPR has issued a report this morning calling for the alignment of tax rates on capital gains tax with the equivalent income tax rate applicable to the taxpayer making the gain. In effect, they are arguing that gains should be taxed as income. This is a policy proposal I entirely agree with, as I noted […]
Boris Johnson has been like a wrecking ball in the last week. His premiership is in tatters. His party is torn asunder. His majority has long gone. It looks as if his days are numbered. And still he has to get a deal if he is to avoid breaking the law, as he has long […]
Sometimes to get a true perspective on things you have to look form elsewhere. This is one such view: I’m not saying it’s right. But it does show how bad things are. And as to the proposed solution? Muse on it.
I find myself asking what I know this morning. I posted a video yesterday in which George Monbiot suggested that we base our lives on the stories we tell. I think this is true. One reason I have for writing rugs blog is to work out just what the narrative of my life might be. […]
This is good: Thanks to whoever recommended it.
Henry Leveson-Gower of The Mint magazine has asked me to promote an idea I am more than happy to share. It’s this: What Henry’s asking is summarised as follows: Our economic system is driving us towards a perfect storm. We are facing ecological breakdown. Rising debt is threatening a new financial crash. Inequality is pulling […]
I note the Telegraph has reported this morning that: Boris Johnson would rather defy the law than ask for another Brexit delay, he has indicated, as Labour was accused of plunging Britain into a constitutional crisis. The Prime Minister said he “will not” carry out Parliament’s instructions to seek an Article 50 extension if he […]
As the FT has noted this morning: Economists were unanimous after Sajid Javid’s spending review on Wednesday: The chancellor’s fiscal rules were dead and Boris Johnson’s government, much like that of Donald Trump in the US, no longer cared much about budget deficits. Quite so, and I agree. This has been apparent since Johnson started […]
I was pleased to see this tweet by Juan Pablo Guererro of the Global Initiative for Financial Transparency, who joined us at City, University of London yesterday for a seminar on tax spillovers yesterday, which is research work being undertaken by Prof Andrew Baker of Sheffield University and me. My own talk was entitled ‘Tax […]
I was a signatory to this letter in the FT this morning: The UK’s failing economic model demands such bold ideas From David Blanchflower and others Your series of articles exploring the Labour party’s economic agenda fails to appreciate the severity of the UK’s current economic condition, and reproduces a number of misconceptions. There is growing political […]
I was told by an academic I respect that they’d had enough of Brexit yesterday. It was too difficult to watch the country being torn apart by incompetent people to continue monitoring the detail, they suggested. There were better things to do with life. I understand the sentiment. I also understand on that basis why […]
It may not be tax season, but it sure does feel like it with all the tax news and updated information from the IRS! Have you been paying attention? Don’t sleep on these important tax news headlines. New forms This month the IRS announced a couple of new forms. First, a new form for seniors […]
The right-wing, anti-Company having to pay their fair share of tax brigade were out in force on the blog yesterday. They were incensed by my comments in a Guardian article in the amount of tax Amazon paid last year, which I quoted yesterday. I have to admit I have little time for these dinosaurs. I […]
I was having a discussion with a friend a day or two ago. Politics is not a common subject of conversation between us. These, though, are exceptional times. And we discussed the current state of British politics. The key point I made was that whatever we have now is not durable. I offered a simple […]
The IMF posted a blog on its website yesterday under the title: A Role for Financial and Monetary Policies in Climate Change Mitigation It summarised the options like this: Much of what I have been writing about funding the Green New Deal recently, here and here, fits into this framework. So, I argue for green […]
I wrote this for one of the organisations I am associated with yesterday with regard to the Spending Review and thought it worth sharing here: One would think a spending review has very little to do with tax. The logic is that spending is the opposite side of the revenue cycle from tax. But that’s […]