Clearly, posts I have been made have been retrospectively placed in Moderation, the editor of RWER needs to be taken to one side and the facts of free speech and open sceptical scientific debate explained to him or her.
ATMOSPHERIC CO2 CONCENTRATION YEAR 1
A MONETARY CASE FOR VALUE-ADDED NEGATIVE TAX MICHAEL KOWALIK [TOOLANGI, AUSTRALIA]
Abstract I address the most fundamental yet routinely ignored issue in economics today: that of distributive impact of the monetary system on the real economy. By re-examining the logical implications of token re-presentation of value and Irving Fisher’s theory of exchange, I argue that producers of value incur incidental expropriation of wealth associated with the deflationary effect that new value supply has on the purchasing power of money. In order to remedy the alleged inequity I propose a value-added negative tax (VANT) based on net individual contribution to the economic output, which is structured as a negative tax function geared to profits derived from eligible productive activities in consideration of their estimated deflationary impact. I show that an adequately optimised VANT can be non-inflationary and have zero net cost to the public. Furthermore, economic output stands to improve due to direct incentivisation of value creation, making the proposed scheme not only politically feasible but economically desirable. The proposal advances the principle of ‘fair money’, where all forms of economic value are attributed to their rightful owners prior to any positive taxation. Keywords Money Definition, Monetary Systems, Monetary Policy, Negative Income Tax, Theory of Exchange, Fair Money JEL Codes E31, E40, E42, E51, E62, H23
Occasionally, some of your visitors may see an advertisement here,
as well as a Privacy & Cookies banner at the bottom of the page.
You can hide ads completely by upgrading to one of our paid plans.