Re:'We Are Being Levelled Down’: Why the UK’s Wealth Gap Is ...
by neilwilson on Sunday January 29, 2023 @07:35AM
(#34567516)
Alternatively you stop talking about 'debt' because there is no such things.
What there is is people with financial savings, and a balancing item in the national accounts because of that. That balancing item occurs naturally, costlessly and without concern as a consequence of the way double entry bookkeeping works.
Money is never stuck because it isn't a thing. It's really just an accounting record.
If you have £50 in your wallet or purse you are 'causing' the balancing item to come about because you have spent it yet.
Tax isn't there to raise money. Tax is there to stop the private sector hiring everybody - so there is somebody left for the public sector to hire to do the jobs the government needs doing to fulfil its democratic mandate.
What there is is people with financial savings, and a balancing item in the national accounts because of that. That balancing item occurs naturally, costlessly and without concern as a consequence of the way double entry bookkeeping works.
Money is never stuck because it isn't a thing. It's really just an accounting record.
If you have £50 in your wallet or purse you are 'causing' the balancing item to come about because you have spent it yet.
Tax isn't there to raise money. Tax is there to stop the private sector hiring everybody - so there is somebody left for the public sector to hire to do the jobs the government needs doing to fulfil its democratic mandate.