Comments by "Aden Wellsmith" (@adenwellsmith6908) on "Richard J Murphy" channel.

  1. Proportion to their capital. It's the capital that controls it.
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  2. 1.14 million for the box at Arsenal over 5 years, inflation not included.
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  3. So cut their tax to zero. You don't want it. You don't care. What'st the problem.
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  4. Inflation linked debt is for purchasing power. The state has run out of purchasing power.
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  5. Clean it out. You can download the data for an archive.
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  6.  @Vroomfondle1066  Then put the boot in. When you have no argument to make, avoid addressing the points made. So what interest rate do you need to cover defaults?
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  7. The government is a corporation. Why does it leave these debts off the books? Is that what you are teaching your students? 1. Pensions 2. Nuclear clean up 3. Losses on insurance contracts 4. The EU 5. Unpaid wages 6. Unpaid invoices 7. Expected payouts - eg post office, NHS damages.
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  8.  @gio-oz8gf  So come on. The civil service pension. I've said no assets. You say that's wrong. That's easy for you to show by posting a reference to the assets that they hold. Notice Civil Servants not LGAs. That's another ball game which if you want we can move onto after you post the asset reference. Of course you won't. It's an unfunded pension scheme. Zero assets, just debts.
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  9. Simple solution. Cancel public sector workers pensions. It's not a debt. It's not part of the national debt. It's optional. The Richard Murphy school of accounting, certified by the Bernie Maddoff Institute of accounting Practice. That's the civil service approach to accounting. Hide the mess. All civil servants in it together. All to blame. Like Bankers eh!
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  10. No. The asset stripping of the workers is the prime drivers. Second a complete lack of consent over migration. Forcing workers to fund migration, to fund the servants of the rich. Forcing workers to compete an a race to the bottom because of migration.
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  11. Except you have to ask what he's keeping secret.
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  12.  @marykapadia9385  Of course he is. He wants his pension to be paid and he demands that other people have their wealth stripped so he gets paid.
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  13. Wrong 1. Poverty has been imported. Millions of poor people have come to the UK 2. Poverty is a lack of wealth and a lack of income. So you have to ask, where's the wealth? The workers have paid the welfare state trillions for their old age. Where's that wealth gone? Until you address that you are sadly deluded.
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  14. Correct. They paid in the most. Murphy was a tax man, took the money. He then hid the debt off the books. Now that ponzi is due and he thinks, who else can we target to pay so I get my fat cat pension.
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  15.  @perkinscrane  The rate of inflation is the rate of increase in the price index. So if the index was 100 a year ago and the index is 105 today, then the annual rate of inflation is 5% So if the index is 100 today, the target should be 100. If prices go to 95, or to 105, then the BoE board gets sacked and replaced
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  16.  @perkinscrane  No I'm serious. The rate of inflation is the annual rate of increase in the price index Here we have an apologist for the BoE saying, prices have rocketed [the bad effect], but let them have another go. It happens repeatedly. So target the bad effect. Change the target from 2% which they never hit to price index. That gives them a hard target and they can't each year reset the clock and have another go.
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  17. Make the plumbers, school cleaners, pay for the mejah studies degrees of others.
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  18.  @johnmulligan912  Ah, Mejah Graduate. Why shouldn't the graduates pay for their loans? Why should people who earn less be forced to subsidise rich people?
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  19.  @marijo1951  Wrong. He demands other people pay him, not that the money goes on services. What's also interesting is that he won't address the spending issue. Where's the money going? For example, the state makes a gross 30% profit margin on its services. Why is that acceptable?
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  20. Civil service accountants need to be put in special measures and redo the first lesson you get as an accountant. What's an asset, a liability, income and expense. None of this Bernie Maddoff Accounting.
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  21. Which is why they are both toast. Vote reform. Join reform.
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  22. Publish all spending to the penny. Offer rewards for fraud. We need to know for example, what migrants are getting. What percentage are paying in more than they take. ie. We need to know just how bad the mess is.
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  23.  @brendanlea3605  So PPE. Publishing the numbers in full. Or do you want a cover up? Or NHS spending. Imagine look at the spending to discover that the chair of the authourities wife is closely involved in a IT company that lost all your medical records. Or that one trust is paying 4 times the price as another trust for the same item. Why would you want that covered up?
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  24.  @brendanlea3605  So Baroness Mone. That's a good example. Why would you want that hidden?
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  25.  @MaRi-Br1984  What is the big change that's needed? In the Human Rights Act we need one more right. People have the right of explicit informed consent without the state being able to retaliate.
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  26. @casca5853 So what happens to a shareholder who bought yesterday?
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  27. So if you have to move to a new location for a job, you have to take a massive hit on your wealth. Why do you need the tax? Ah yes, that massive pension debt that's been run up by the socialist welfare state. It's not going on services. Austerity for the peasants so Richard Murphy gets his pension.
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  28. And a Crosby Stills and Nash!
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  29. Change the minimum tax code on migrants to break even. 38,500 a year.
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  30. No pension for Civil Servants. See how they behave.
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  31.  @xtc2v  Exactly. The game of fantasy economics where you ignore the big debts, to get the answer you want. Namely spend spend spend.
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  32.  @downshift4503  If their pension isn't a debt, we don't have to pay it. That saves huge sums of money. That's Richard's position because he hasn't included that debt in his numbers. We could create a new currency called the voucher. Print lots of them, pay them with vouchers. Remember the state can never run out of vouchers. Do you now see the flaws in the argument being presented? 1. The fantasy game of economics where you ignore the big debts. 2. The print to pay fantasy
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  33.  @downshift4503  It's a debt. An inflation linked debt. What about civil servants pensions? The government can always pay the state pension in it's own currency. True for a fixed rate debt. False for inflation linkled debt. MMT is very clear on that.
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  34. No one's against free movement. The issue is people arriving and the state screwing other people to fund them. The other issue is criminals from overseas in the UK
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  35.  @johnward514  Who is the debt owed to? One person/organisation has an asset. The other has a liability,. That's standard. Or do you have some radical new accounting approach? The Bernie Maddoff school of accounting perhaps.
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  36.  @stephfoxwell4620  So lets take a hard example. Croydon Council. Borrowed millions. Where's the potential there? We need sharia law for government when it comes to debt.
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  37. Quantify the debts. I'll give you a hand with the broad categories. 1. Borrowing [2,478.17 bn] 2. State pension 3. Civil service pension 4. Unpaid wages 5. Unpaid invoices 6. The EU 7. Expected losses on insurance contracts 8. Expected damages (Post office, NHS etc) 9. Nuclear clean up (paid up front, state pays for the work) 10. Expected losses on guarantees. I've done the first for you. Can you do the others/
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  38. So how does taxation on production, increase production? More taxes won't go on more services. Look the current allocation of taxes. 30% goes on the debts including the off the book debts.
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  39. No union funding. No corporate funding A cap for individuals. Say £100 a year max.
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  40. That will be the labour cabinet.
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  41.  @jodders619  Crap. Post your evidence.
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  42.  @johnmulligan912  So post some of these sources. The evidence the other way is too look at tax receipts. Compare income tax against inheritance tax. It shows that inheritance tax is small, compared to earned wealth. The whole of government accounts says you are wrong. Income tax takes £374 bn a year. That's each year for a 50 year working life. You have VAT and other indirect taxes for an entire life at 365.3 bn For an entire life, inheritance tax comes to 7.2 bn a year. It's not inherited wealth. Inheirted wealth is just Murphy and co getting scared that their multi million pound pensions won't be paid.
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  43. Becuase its wrong. Here's a simple thought experiment. Lets have a new currency. It needs a name. We call it the voucher. No need for taxes. The state pays its workers in vouchers. Heck it even doubles their wages. If you earned £50K, you now get 100K of vouchers. You can never run out of vouchers. What everyone else does is use the $ as an example. Shops, private sector, all use the dollar. Of course there's a problem when those public sector workers want to spend their new found wealth. Richard's selling a fairy story.
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  44. There's not a remedy. Do a thought experiment. Print vouchers. You can never run out of vouchers. Pay civil servants in vouchers. Now do you get it? How do they turn the vouchers into rent, food, purchases?
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  45. It has pensioners to pay.
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  46. A lot of poverty is imported. Discuss.
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  47.  @ProgressiveEconomicsSupporter  UK, US, France all massive deficit spending. Germany, what's the level of government brorowing and what's the level of government pension debt? Erste zeule and state employees pensions. How much is currently owed and has that increased over time? The total of all those debts and its rate of increase is the Keynsian spending. How has that worked out?
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  48. Getting warm. Ask the question, how much pension debt does the state have? Ask where the trillions of pounds of wealth that the welfare state has taken gone? Ask what's your fair share of those debts? Ask if you can afford to pay that debt? Your claim of insufficient contributions is correct. People can't afford their fair share of those debts.
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  49.  @PotBanginEejit  Let me explain. You need to put forward the costs of the services that you demand. Are they the cheapest way of getting them? Next you look at the tax needed to pay for them. In most cases, you can make them hypothecated. The uses pay for that service, no more, no less. A good example would be roads or state pension, rubbish collection. ie. All the things you talk about. Where you need a tax, is for common goods. Law and police, defence, democracy. That's about it. The rest should be based on consent. But I have an inkling you don't like a right of consent.
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  50.  @oneoflokis  So why do they support printing money?
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