[E–pub READ] (The Joy of Tax)

Read × E-book, or Kindle E-pub ´ Richard Murphy

The Joy of Tax Free read ì 9 In The Joy of Tax tax campaigner and creator of ‘Corbynomics’ Richard Murphy challenges almost every idea you have about tax For him tax is fundamentally about the ideas that shape the sort of society we want to live in not technicalities His intention is to demonstrate that there is indeed a joy in tax and by embracing it we can create a fairer society and change the world for the betterTax has been a feature of human society for a v. Benjamin Franklin once wrote in this world nothing can be said to be certain except death and taxes I would add and your computer crashing to that but the sentiment is still valid Richard Murphy has been a voracious campaigner on all things tax creator of Corbynomics and in the ironically titled Joy of Tax fully intends to challenge every idea that you have about taxes Whilst most people don t like paying tax we seem than happy to accept the benefits and services that a government provides from their tax income so much so that populations expect governments to spend than they can raise from tax and run a deficit That changed in 2008 after the global finance system derailed and the political debate have been dominated by the spectres of austerity debt and cuts This hostile discussion has meant that the debate on why we need tax and how it can benefit society have been ignored ever since It is this debate that Murphy wants to bring to the fore in this bookBut it s a taxing subjectHe makes a good evaluation of the present system with its few ualities and many flaws and overall it was an interesting read His proposals are bold and in certain cases innovative and rightly he argues we need to dramatically simplify the tax system to stop excessive revenue loss from loopholes All sensible stuff but Murphy comes across as a bit preachy about it all and it grates a little in the end Generally ok and if you have an interest in all thing financial then you may get out of it than I did 25 stars overall

Review The Joy of TaxThe Joy of Tax

The Joy of Tax Free read ì 9 Ery long time Almost no one gives tax a good press even though as Richard Murphy argues it has been fundamental to the development of democracy the world overWhilst we may not like tax very much in contrast it is clear that we really do like the public services which governments provide So much so in fact that for most of the last 300 years people have been than happy for governments to run deficits by spending than they raise in taxation. Banks work in a very simple way People deposit money and the bank lends it out Assuming that the depositors don t all come calling at the same time no one reality notices that their money isn t really in the bank but is being spent on a new conservatory by someone they have never met Ever since the advent of the cheue it has been possible for banks to actually lend out far money than they ever held Simply put if your money exists only on an electronic balance sheet a bank can create money by crediting one side of the balance sheet with slightly larger numbers This leveraging has been going on for a long time and was in part responsible for the collapse or near collapse of a good number of banks in 20078 Depositors learned that their bank had lent to people who weren t going to repay and demanded their money The banks unable to pay went cap in hand to the Treasury The confidence trick of banks creating money is something which seems to greatly upset Richard Murphy and represents a great scandal he has helped to expose despite the fact they everyone already knew about it From the great scandal of banks creating money Murphy builds his thesis If debt is the creation of money then repaying debt is merely the distraction of money The private sector destroys money when you pay off your mortgage and the public sector does it when you pay your taxes The money supply is not controlled by the creation of money but by its distraction Murphy points to the grown of government debt in the post 2008 era as coinciding with a great paying down of private debt which by 2014 had fallen from 196% of national income to 160% as evidence that a total debt level must be maintained for there to be economic stability This is all well and good except that it leads to Murphy to conclude that Government debt is just that part of the money supply that central government has created just as commercial bank lending is that part of the money supply the private sector has created On the surface this is obviously backwards When the government borrows it takes the place of the person who has taken out the loan not the bank Indeed government borrowing might contribute the public sector money creation if it borrows from a leveraged bank but it does not create any money through borrowingMore worryingly is it allows Murphy to claim that there is no need to ever repay government debt A government running a surplus depletes GDP and since the money was created out of thin air can be created to follow it I don t know where Richard Murphy goes on holiday but he has obviously never been to Greece A country can only borrow indefinitely provided its private sector lenders believe that it can repay if they do not the bond yields will rise and eventually the flow of capital to the government will ceaseThe other problem with wishing money into existence is that it doesn t really happen like that Murphy has arrived at his rather bizarre view because he has conflated government deficit spending with uantitive easing the Bank of England s E program merely allows banks to shift bad debt from their balance sheets to the government and credit an euivalent amount Effectively the state creating money to pay off debts the banks should never have created This is very different from government borrowing When a government wants to raise money it issues bonds which it sells to the private market the bonds are bought by lets say a pension fund which I have put my pension in My pension is effectively lent to the government in the assumption that in 10 15 or 25 years I will get it back plus say 2% The money has not been magiced into existence it has been transferred from one bit of the economy to another So a government can assuming it wants to run the risk of turning into Zimbabwe indefinitely print money then it raises through taxation but what it cannot do unless it wants to run the risk of becoming Greece is borrow indefinitely The fact that Murphy seems to think it can does not bode well for his proscriptions And indeed they are disappointing He is essentially a poor man s Thomas Piketty To create a fairer progressive inclusive society he plumps for wealth taxes and proceeds to layer them on like Nuttella not only would he impose a financial transaction tax he would extend it to all transactions including those between individuals so yes you could be taxed for transferring money to a friend Not only does he impose a mansion tax he would extend it to all wealth he would tax the value of land rather than the property upon it so a derelict plot would attract the same taxation as the luxury villa next doorThe problem with wealth taxes is that I am just not sure why we want them Why as a society should we strive to tax grandmother s silver spoons The argument against taxing wealth are old If an asset does not appreciate in value a continuos annual tax upon it will eventually reduce its value to zero Eually wealth can be held in many forms property stock etc yet unless we are going to revert to a mesopotamian system where tax can be paid in kind these assets will have to be converted into cash before the tax can be paid In practical terms this means selling them or borrowing against them not things the government should be forcing people to do This is the asset rich cash poor argument which dogged Labour s ill conceived mansion tax policy in the run up to this year s general election What Murphy and Piketty and even Ed Miliband really want to do is tax capital they just can t work out how to differentiate between a capital good and mere accumulated wealth As a result they have adopted the trawler approach and seek to catch everything and is therefore deeply unfair and punishes those who happen to live in a certain place or hold goods which happen to have acuired value At their worst Murphy s solutions to the problems of tax avoidance and evasion are deeply sinister Murphy wants HMRC to hold banking data of every individual and company in the country he wants them to amass passport data so that travel can be tracked and airport duty charged he believes that any individual who fails to declare property for the purposes of tax forfeits that property to the state Any individual who undervalues his or her property faces it being sold at the stated rate In an unpleasant reversal of the concept of innocent until proven guilty he wants to place the onus of proving that tax should not be paid on the individual rather than the state and woe betide anyone clever accountant who thinks that he can help someone avoid paying their fair share he will become liable for the amount of tax avoidedIn an attempt to finally defeat tax avoidance Murphy proposes that each tax law be accompanied by a statement laying out the purpose of the law so that breaching the spirit of the law as well as the letter becomes an offence He is utopian if he thinks this will work and delusional if he thinks it is legal But then he seems to be The whole book has a faintly in an ideal world aura to it He believes in information sharing between tax jurisdictions which just isn t going to happen He believes that other countries would tolerate their companies having to disclose world wide revenues to Britain s HMRC He believes that the public will tolerate a tax on their bank accounts and that he can hike taxes on business and make individual shareholders personally responsible for their paying tax without causing an industrial exodus The whole book has the feeling of having been written by some one who is desperate to strong arm economics into an ideological mould Murphy is right about one thing tax is an important part of our economy far too important to let people like Richard Murphy fool about with it Return from Witch Mountain press even though as Richard Murphy argues it has been fundamental to the development of democracy the world overWhilst we may not like tax very much in contrast it is clear that we really do like the Tottisalmen perillinen public services which governments Better Than I Know Myself A Novel provide So much so in fact that for most of the last 300 years The Trumpet in the Dust people have been than happy for governments to run deficits by spending than they raise in taxation. Banks work in a very simple way People deposit money and the bank lends it out Assuming that the depositors don t all come calling at the same time no one reality notices that their money isn t really in the bank but is being spent on a new conservatory by someone they have never met Ever since the advent of the cheue it has been Beneath Southern Skies possible for banks to actually lend out far money than they ever held Simply Med loven i ryggen put if your money exists only on an electronic balance sheet a bank can create money by crediting one side of the balance sheet with slightly larger numbers This leveraging has been going on for a long time and was in Bloomington: A Contemporary Portrait part responsible for the collapse or near collapse of a good number of banks in 20078 Depositors learned that their bank had lent to Ferrari 70 Years people who weren t going to repay and demanded their money The banks unable to Colorado Cowboy Home to Covenant Falls #6 pay went cap in hand to the Treasury The confidence trick of banks creating money is something which seems to greatly upset Richard Murphy and represents a great scandal he has helped to expose despite the fact they everyone already knew about it From the great scandal of banks creating money Murphy builds his thesis If debt is the creation of money then repaying debt is merely the distraction of money The Johnny Weissmuller Twice the Hero private sector destroys money when you Cuento de hadas para vampiros pay off your mortgage and the Bushido Shoshinshu public sector does it when you Edward the Crazy Man pay your taxes The money supply is not controlled by the creation of money but by its distraction Murphy POISSONS & MAMMIFERES MARINS DE NOS COTE (GUIDES - MER) (French Edition) points to the grown of government debt in the وجوه لا تنسى post 2008 era as coinciding with a great きのう何食べた? 4 paying down of The God Jr private debt which by 2014 had fallen from 196% of national income to 160% as evidence that a total debt level must be maintained for there to be economic stability This is all well and good except that it leads to Murphy to conclude that Government debt is just that More Than Friends part of the money supply that central government has created just as commercial bank lending is that Tippi My Book of Africa part of the money supply the Antiques Disposal private sector has created On the surface this is obviously backwards When the government borrows it takes the Forbidden Lessons place of the Things You Wish You Knew Yesterday person who has taken out the loan not the bank Indeed government borrowing might contribute the Why Bother With Mission? public sector money creation if it borrows from a leveraged bank but it does not create any money through borrowingMore worryingly is it allows Murphy to claim that there is no need to ever repay government debt A government running a surplus depletes GDP and since the money was created out of thin air can be created to follow it I don t know where Richard Murphy goes on holiday but he has obviously never been to Greece A country can only borrow indefinitely The Emerald Princess Plays a Trick The Jewel Kingdom #3 provided its The words & other poems (Philippine writers series) private sector lenders believe that it can repay if they do not the bond yields will rise and eventually the flow of capital to the government will ceaseThe other Vivre le Japon problem with wishing money into existence is that it doesn t really happen like that Murphy has arrived at his rather bizarre view because he has conflated government deficit spending with uantitive easing the Bank of England s E Eleven program merely allows banks to shift bad debt from their balance sheets to the government and credit an euivalent amount Effectively the state creating money to To Thine Own Self Be True pay off debts the banks should never have created This is very different from government borrowing When a government wants to raise money it issues bonds which it sells to the inTENse private market the bonds are bought by lets say a Cybernetics of Human Learning and Performance pension fund which I have Three-Day Town (Deborah Knott Mysteries, #17) put my Tea Bag Folding Design Original Can Do Crafts pension in My The Kamasutra for Women The Modern Woman's Way to Sensual Fulfilment and Health Kama Sutra pension is effectively lent to the government in the assumption that in 10 15 or 25 years I will get it back Simulation Studies of HVDC Using PSSE plus say 2% The money has not been magiced into existence it has been transferred from one bit of the economy to another So a government can assuming it wants to run the risk of turning into Zimbabwe indefinitely Honoré de Balzac - Les oeuvres complètes (Edition augmentée) (French Edition) print money then it raises through taxation but what it cannot do unless it wants to run the risk of becoming Greece is borrow indefinitely The fact that Murphy seems to think it can does not bode well for his Golden City Far proscriptions And indeed they are disappointing He is essentially a Fashionistas Candy poor man s Thomas Piketty To create a fairer Goblin Quest progressive inclusive society he Full Circle plumps for wealth taxes and Siebel Customer Order ManagementCOMwith Telecom Industry Examples proceeds to layer them on like Nuttella not only would he impose a financial transaction tax he would extend it to all transactions including those between individuals so yes you could be taxed for transferring money to a friend Not only does he impose a mansion tax he would extend it to all wealth he would tax the value of land rather than the Bambi Eine Lebensgeschichte aus dem Walde property upon it so a derelict Naya’s Most Important Visitors (Psy-Changeling, #10.2) plot would attract the same taxation as the luxury villa next doorThe Sasvim skromni darovi problem with wealth taxes is that I am just not sure why we want them Why as a society should we strive to tax grandmother s silver spoons The argument against taxing wealth are old If an asset does not appreciate in value a continuos annual tax upon it will eventually reduce its value to zero Eually wealth can be held in many forms Pursuit of a Parcel property stock etc yet unless we are going to revert to a mesopotamian system where tax can be The Cowboy's Surprise Bride paid in kind these assets will have to be converted into cash before the tax can be Faro and the Royals paid In The Juggernaut Method 20 practical terms this means selling them or borrowing against them not things the government should be forcing Psychic Other ESP Party Games people to do This is the asset rich cash The Yankee Widow poor argument which dogged Labour s ill conceived mansion tax The Highlander's Promise policy in the run up to this year s general election What Murphy and Piketty and even Ed Miliband really want to do is tax capital they just can t work out how to differentiate between a capital good and mere accumulated wealth As a result they have adopted the trawler approach and seek to catch everything and is therefore deeply unfair and Protein Misfolding Diseases punishes those who happen to live in a certain Sir Ferumbras (Ashmole Ms. 33) (Classic Reprint) place or hold goods which happen to have acuired value At their worst Murphy s solutions to the True Prosperity How to Have Everything problems of tax avoidance and evasion are deeply sinister Murphy wants HMRC to hold banking data of every individual and company in the country he wants them to amass Smoke Across the Fell passport data so that travel can be tracked and airport duty charged he believes that any individual who fails to declare Territorialno Proizvodstvennye Zony property for the L'AchimisteLa Sorcière de PortobelloLe Zahir purposes of tax forfeits that The Captain's Lady property to the state Any individual who undervalues his or her Hex property faces it being sold at the stated rate In an unpleasant reversal of the concept of innocent until La mère parfaite est une mytho proven guilty he wants to One Tempting Proposal place the onus of Thriving Under Pressure DK Essential Managers proving that tax should not be Swapped paid on the individual rather than the state and woe betide anyone clever accountant who thinks that he can help someone avoid Capoeira A Tale of Martial Arts Mastery Mysticism and Love paying their fair share he will become liable for the amount of tax avoidedIn an attempt to finally defeat tax avoidance Murphy Amaranthine proposes that each tax law be accompanied by a statement laying out the Consumed Part One (The Hot Studs Series # 1) purpose of the law so that breaching the spirit of the law as well as the letter becomes an offence He is utopian if he thinks this will work and delusional if he thinks it is legal But then he seems to be The whole book has a faintly in an ideal world aura to it He believes in information sharing between tax jurisdictions which just isn t going to happen He believes that other countries would tolerate their companies having to disclose world wide revenues to Britain s HMRC He believes that the The Taming of Women public will tolerate a tax on their bank accounts and that he can hike taxes on business and make individual shareholders Dating the Guy Upstairs personally responsible for their Asking and Listening Ethnography As Personal Adaptation paying tax without causing an industrial exodus The whole book has the feeling of having been written by some one who is desperate to strong arm economics into an ideological mould Murphy is right about one thing tax is an important Snitch Occupational Hazards #2 part of our economy far too important to let Leaflets of the Russian Revolution people like Richard Murphy fool about with it

Read × E-book, or Kindle E-pub ´ Richard Murphy

The Joy of Tax Free read ì 9 2008 apparently changed all that The issues of debt deficits cuts and austerity have dominated the political agenda ever since Virtually every aspect of the government's finances and how to rearrange them in the forlorn hope of balancing the books has been discussed in great detail Despite that there has been almost no real discussion during this period about what tax is for and how it contributes to the creation of the society we aspire. Borrowed this from the library to see why a local politician might have purchased it on his gov credit card and then had to reimburse the cost along with an other 12000 also spent for personal things Also the title intrigued me I confess to know little about tax and can see from other comments that there are conflicting thoughts as to whether the ideas are correct or not That aside it was written simply enough for the uneducated to understand for the most part with some radical ideas on how tax should be applied uite left of centre I think though I have no problems with taxing the wealthy or putting tax havens out of business even though I live in oneThe author does like to blow his own trumpet at times which I found a little grating and the final imaginary budget speech was a bit boring as it was a recap of the rest of the book OK to cement the ideas but my eyes glazed over before too long and I sped read most of it


10 thoughts on “[E–pub READ] (The Joy of Tax)

  1. says: [E–pub READ] (The Joy of Tax)

    [E–pub READ] (The Joy of Tax) Richard Murphy ´ 9 Review Review The Joy of Tax HITS THE SPOTAfter David Cameron gave Richard Murphys The Joy of Tax a bum review at the Tory party conference I ordered myself a copy after all being ridiculed by the ridiculous has to be a positive?The book opens with a whirlwind history of taxation from the time of the Ancients through the rise of Christianity and on to the present Murphy then answers the uestion of what tax is what money is and how it ge

  2. says: Read × E-book, or Kindle E-pub ´ Richard Murphy Richard Murphy ´ 9 Review [E–pub READ] (The Joy of Tax)

    Richard Murphy ´ 9 Review [E–pub READ] (The Joy of Tax) Benjamin Franklin once wrote ‘in this world nothing can be said to be certain except death and taxes’ I would add ‘and your computer crashing’ to that but the sentiment is still valid Richard Murphy has been a voracious campaigner on all things tax creator of ‘Corbynomics’ and in the ironically titl

  3. says: [E–pub READ] (The Joy of Tax)

    [E–pub READ] (The Joy of Tax) It's a shame that the publishers chose not to replicate the green ink in which this book was clearly written And rather tempting to misuote a uote itself misattributed to Samuel Johnson The policy prescriptions in this book are stimulating an

  4. says: [E–pub READ] (The Joy of Tax)

    Read × E-book, or Kindle E-pub ´ Richard Murphy Richard Murphy ´ 9 Review [E–pub READ] (The Joy of Tax) Banks work in a very simple way People deposit money and the bank lends it out Assuming that the depositors don’t all come calling at the same time no one reality notices that their money isn’t really in the bank but is being spen

  5. says: Richard Murphy ´ 9 Review Read × E-book, or Kindle E-pub ´ Richard Murphy Review The Joy of Tax

    [E–pub READ] (The Joy of Tax) Review The Joy of Tax The author is an embarrassment to the CPA name

  6. says: Richard Murphy ´ 9 Review [E–pub READ] (The Joy of Tax)

    Review The Joy of Tax Richard Murphy ´ 9 Review [E–pub READ] (The Joy of Tax) Well the title is an oxymoron for surebut this actually sounds like it might be interesting

  7. says: Read × E-book, or Kindle E-pub ´ Richard Murphy [E–pub READ] (The Joy of Tax)

    [E–pub READ] (The Joy of Tax) Review The Joy of Tax I think everybody should read it It's about how tax works and how it should work

  8. says: [E–pub READ] (The Joy of Tax)

    Read × E-book, or Kindle E-pub ´ Richard Murphy Richard Murphy ´ 9 Review Review The Joy of Tax This was my introduction to how taxes work I was a victim of shock on how much taxes I had to pay This was a good intro to why I sh

  9. says: Richard Murphy ´ 9 Review Read × E-book, or Kindle E-pub ´ Richard Murphy [E–pub READ] (The Joy of Tax)

    Read × E-book, or Kindle E-pub ´ Richard Murphy [E–pub READ] (The Joy of Tax) Borrowed this from the library to see why a local politician might have purchased it on his gov credit card and then had to reimburse the cost along with an other £12000 also spent for personal things Also the title intrigued me I confess to know little about tax and can see from other comments that there are conflicting thoughts as to wh

  10. says: Richard Murphy ´ 9 Review Read × E-book, or Kindle E-pub ´ Richard Murphy [E–pub READ] (The Joy of Tax)

    Read × E-book, or Kindle E-pub ´ Richard Murphy [E–pub READ] (The Joy of Tax) Richard Murphy ´ 9 Review I followed Richard Murphy’s work a few years ago due to an interest in his work regarding tax evasion and tax avoidance It was very interesting to see an accountant and activists writing important reports which w

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  • Hardcover
  • 256
  • The Joy of Tax
  • Richard Murphy
  • en
  • 08 March 2020
  • 9780593075173