Malcolm Reavell @auchentrachle.bsky.social
@malcolm_reavell
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Aircraft engineer, helicopter operations, IT and business process and projects. Internationally renowned composer. @auchentrachle.bsky.social
Aberdeen, Scotland
Joined March 2016
It’s not true what the grocer’s daughter said. This may be a shock, but there’s no such thing as “taxpayer money”. She lied. There’s only government money, and if government doesn’t spend enough money into the economy, taxpayers don’t have money to pay taxes. Or live on.🧵👇
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Tax payments are funded by prior public spending. There IS no such thing as a resource-free school lunch. A school lunch requires real resource use. Those resources are bought using government currency. The demand for that currency depends on the imposition of tax liabilities.
I rarely sign petitions but this one is great! Political parties should adopt this as policy. No there’s no such thing as a free school lunch. They’re taxpayer funded school lunches. https://t.co/DRNt8ra6WC
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The UK is self financing. If it wants to find £50 billion, it passes a budget for £50 billion. @KemiBadenoch seems unaware of this. “Seems” unaware… @RachelReevesMP also lies about this. Tory and Labour - two cheeks of the same austerity arse. MMT. We can do better.
The @Conservatives £50bn Sovereign Defence Fund will get Britain war ready and send a powerful message to our adversaries. Here’s how👇
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Anyone who has taken the time to understand how our govt actually funds spending (MMT) finds this kind of rant 👇🏻 exasperating. Cabinet and their shadows arguing over a financial system that has nothing to do with our self-financing state or how it pays for services. Grow up.
Labour’s borrowing binge is a national scandal. Reeves has borrowed over £130bn already this year & it's not over. We have the highest deficit on record, outside the pandemic, piling debt onto our children. Labour should copy our plan to cut spending, cut tax and back business!
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When the doctors walk out, we miss them. If Wes Streeting walked out, we'd celebrate. 🍻 #LabourOut
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Verdant - less bold politics, more learned helplessness.
@AnsellEade @AllyFogg Sadly “Getting serious” is euphemism for “watering down” policies and capitulating to bond markets. Thats the issue. The Corbyn project failed for a no of reasons, but a part of that was the belief that we needed to negotiate with rather than confront financial capital.
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#Epstein scandal: how did corporate #media like #ABC & #NYT help cover up his pervasive network? Emails now implicate journalists too. #ClassWar #deepstate Full ep. @NolanHigdonCML of @ProjectCensored drops Sat. 12/20 @ 8AM ET. Find all our ep. @ https://t.co/KTpxaT6Jcw
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There’s no such thing as a ‘tax-payer funded’ if it’s central government funded. Government spending is the very definition of free - £billions for the cost of typing 0s into a computer. @rcolvile is just wrong. Ask yourself why he’s so keen to push Thatcher’s lie. Learn MMT.
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@bananatransit @TheBMA NHS funding is not the problem - politicians are! The UK Government creates £s as it spends! Whatever we can actually do as a country we can afford The UK is a rich economy Govt could (and should) decide to fund a larger budget to provide sufficient NHS healthcare capacity👇🏻
It’s not true what the grocer’s daughter said. This may be a shock, but there’s no such thing as “taxpayer money”. She lied. There’s only government money, and if government doesn’t spend enough money into the economy, taxpayers don’t have money to pay taxes. Or live on.🧵👇
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@ZackPolanski - 👇🏻worth memorising along with the nat’l debt, the incredible shrinking and expanding fiscal black hole and the meaning of the 39 Steps. 😉
@AndrewLMacaulay @Katie_Lam_MP 1/n. Each govt dept has a budget. To spend money from it the dept asks the Treasury to release funds. The treasury debits the Consolidated Fund at the Bank of England and credits the dept’s supply account in the Government Banking Service. The Dept then decides to spend …
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Alas, Shazza has blocked me so I can't comment :-( She got fed up with me tryna explain all this :-(
@sharrond62 Govt spending is an act of currency creation. After creating and spending money into the economy, govt then offer bonds for banks to buy with the excess reserves created by govt’s *prior* spending. Not a penny is “borrowed”. And it never needs to be repaid. Nor should it be.
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Nee petition needed. Ban describing government spending as “taxpayer funded”. Political parties should adopt this as policy. There IS such a thing as a free lunch. It’s the whole purpose of the City of London.
I rarely sign petitions but this one is great! Political parties should adopt this as policy. No there’s no such thing as a free school lunch. They’re taxpayer funded school lunches. https://t.co/DRNt8ra6WC
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“It is dangerous to be right in matters where established men are wrong.” — Voltaire
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Doesn't even understand what borrowing is but will tweet bullshit irrespective
No pandemic. No war. Just destruction of our children's future.
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🌶️NEW EPISODE!! Forget partisan theater. @NolanHigdonCML & @sdgrumbine frame the #EpsteinFiles scandal as a systemic story of elite power, media complicity, and the networks that operate above the law. https://t.co/HWdJisGM4w
realprogressives.org
Forget partisan theater. Nolan Higdon frames the Jeffrey Epstein scandal as a systemic story of elite power, media complicity, and the networks that operate above the law.
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@sharrond62 posting misinformation here. The nat’l ‘debt’ = private sector’s savings - our money. It never needs to, nor should be, repaid (repaid to whom?). The interest can 💨 if we set interest rates to zero. We could do this tomorrow- but the £s go to bankers so… 🤷🏼♂️
The vast majority of the general public have no real idea just how bad it is, because of left wing msm, what an absolute financial disaster this Labour government is getting the country into. And all this borrowing will have to be paid back, generations of it, but the interest
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A more productive petition would be to ban arbitrary fiscal rules.
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@AnsellEade @AllyFogg The approach Verdant is proposes places markets above the government’s ability to deliver public purpose. MMT tells you inverse is possible. Public purpose comes before markets.
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Under current arrangements, the interest rate on UK gilts reflects market expectations on bank rate decisions by the Bank of England, based on expectations of inflation. Nobody with any understanding of economics even imagines that there is any risk of 'not being paid back'.
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The tax and spend nightmare. You may as well chart the number of teddy bears or bus tickets instead of tax revenue against expenditure. Taxes aren’t a funding mechanism. Taxes don’t fund a currency issuing government. Expenditure has no operational dependency on taxes.
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The net financial savings of UK businesses and households has increased by £132bn since April.
Since April, Rachel Reeves has added over £132 billion to British national debt.
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