Comments for The Transparency Extremist

Comment on Open-Book Accounting by ghi

ghi — Tue, 14 May 2013 09:13:31 +0000

i'll try to ask my friend who works at atlanta ga accounting if they still have this type of webtool.

Comment on Open-Book Accounting by Martin Björnsson (@svanstroll)

Martin Björnsson (@svanstroll) — Mon, 14 Jan 2013 14:44:12 +0000

Hi! I’m just wondering if you know any webtools for open accounting? I have a NGO as a customer who WANTS to put it all on the web, preferrably in wordpress: do you know any plugins etc for that?

Comment on Income Inequality Causes Recession by ejoftheweb

ejoftheweb — Tue, 04 Dec 2012 08:09:18 +0000

The flaw lies in your first assumption – that the money supply is constrained. Since credit is created by the financial system, and lending against apparently secure assets which often show a book profit, banks continue to lend against inflating assets and there’s no pressure to increase interest rates. Result: the bubble bursts, as it did in Japan more than a decade ago and Europe/USA more recently. Monetary reform such as state seigneurage or a return to the gold standard might address this (I can guess which one you’d go for, and no I don’t agree with you).
But your comment only addresses one of the mechanisms I have outlined and doesn’t touch on the claim that income inequality suppresses growth. It is, perhaps, worth conjecturing that if there were a constrained money supply, then a very skewed income distribution would tend to restrict growth less than it does with unconstrained money. But it would still restrict growth because it limits consumption.

Comment on Income Inequality Causes Recession by Tel

Tel — Mon, 03 Dec 2012 22:36:24 +0000

Assuming that the money supply is somehow constrained (by whatever means) and people are free to trade with one another without interference, asset price inflation means people are bidding up assets in the belief those assets represent future profits or wealth (possibly a capital gain), which must also increase the demand for money and drive up interest rates.

In a properly balanced system, those rising interest rates naturally apply a brake to asset speculation (loans become increasingly expensive) and they also discourage consumption (more attractive to save/invest the money when interest rates are high).

However, in our current system government has interfered with every single stage of the process so nothing balances. No surprise there.

Comment on Corporate Taxes are Wrong by Amazon, Starbucks and Tax « The Transparency Extremist

Amazon, Starbucks and Tax « The Transparency Extremist — Mon, 03 Dec 2012 09:52:04 +0000

[...] and profit is subjective. It’s the wrong base on which to tax companies. I’ve written elsewhere at some length why I think that corporation tax should be abolished (since it is, effectively, a tax on pensioners [...]

Comment on Continuing our discussion on squid: introducing mmt by Tschaff

Tschaff — Sun, 17 Jun 2012 12:48:46 +0000

Which MMTer says that private banking should be eliminated? have you read Mosler`s proposals for financial reform?

Comment on Kelly’s Cobblers by Cruddas and party funding « The Transparency Extremist

Cruddas and party funding « The Transparency Extremist — Mon, 26 Mar 2012 11:56:39 +0000

[...] answer, as I have said before, is quite clear. Firstly, we need to make all political parties utterly transparent [...]

Comment on Tax evasion and the deficit: another argument for reform by Quotebag #61 | In defense of anagorism

Quotebag #61 | In defense of anagorism — Sat, 10 Dec 2011 06:45:35 +0000

[...] “The existent of a tax advice profession is a strong indicator of a tax system that is too complex.”—ejoftheweb [...]

Comment on My point, reiterated by n8chz

n8chz — Sun, 04 Dec 2011 05:02:06 +0000

It is definitely time to turn the tables. Here's the blueprint, unless you have a better one.

Comment on Tax and Liberty by Quotebag #60 | In defense of anagorism

Quotebag #60 | In defense of anagorism — Fri, 02 Dec 2011 09:46:09 +0000

[...] “I don’t see the moral or ethical distinction between a rich person paying a lawyer to pay less tax and a poor person not declaring his cash work to the benefits office because if he did they’d cut his benefits pound for pound. One is lawful because it is lawyered, the other technically criminal, both are the result of a broken tax system.”—ejoftheweb [...]