A New Source of Government Income!

morganist · Sep 19, 2018

Letter to UK Government Ministers Regarding a New Public Sector Revenue Source the 'ORS'.

I have submitted a letter to the Prime Minister of the United Kingdom, on Monday 10th September 2018, putting forward the suggestion of a new government revenue source deriving income from Internationally Commercialised Innovation (ICI) to form the Outland Revenue Service, the (ORS).

The letter explains limitations of the existing government revenue model, which is mainly made up of taxation. Income is solely drawn from the domestic economy and can only take a cut of its GDP. I recommend extending the government revenue model to include external income from foreign trade.

The letter and enclosed article were sent to the Prime Minister, the Chancellor of the Exchequer, the Shadow Chancellor of the Exchequer, the Rt Hon Jeremy Corbyn MP, the Rt Hon Vince Cable MP, Nicola Sturgeon MSP, Jacob Rees-Mogg MP and Michael Fabricant MP, with a covering letter.

http://morganisteconomics.blogspot.com/2018/09/letter-to-uk-government-ministers.html

cdcaveman · Sep 19, 2018

Crap.. tarriffs or any friction created by government is just like any other tax...taxation is theft... why don't you try to come up with rationalizations to reduce the size of government.... Something that will actually help the people instead of being some kind of interventionist government clown

morganist · Sep 19, 2018

cdcaveman said:
Crap.. tarriffs or any friction created by government is just like any other tax...taxation is theft... why don't you try to come up with rationalizations to reduce the size of government.... Something that will actually help the people instead of being some kind of interventionist government clown

It is exactly what you ask for, I don't think you have read the letter. It is not a tax and complains that tax is the primary source of income for the government. I suggest the idea of a new government department which generates income from internationally commercialised innovation. The hope is this will help to reduce tax for the economy and domestic population, reducing the deficit.

SunTrader · Sep 19, 2018

Thank god he is on your side of "the pond". LOL

No doubt he is a damn Keynesian too.

morganist · Sep 20, 2018

SunTrader said:
Thank god he is on your side of "the pond". LOL

No doubt he is a damn Keynesian too.

Have you not read the letter and the article? It is the complete opposite of what you claim, it aims at the government entering the free market to sell innovations and efficiencies to other countries. Developing new systems and processes which can be licensed and commercialised.

morganist · Sep 20, 2018

SunTrader said:
Thank god he is on your side of "the pond". LOL

No doubt he is a damn Keynesian too.

I am not a keynesian, in fact the suggestion I make in the letter is for a supply side push to develop new products that can be sold abroad bringing money into the country. An increase in output, in this case intellectual output, will prevent the need to stimulate the economy.

SunTrader · Sep 20, 2018

"..., government is not the solution to our problem; government is the problem."

- Ronald Reagan

If you think like a Keynesian, talk like a Keynesian ....

cdcaveman · Sep 20, 2018

Supply side economic stuff is still interventionist ..

morganist · Sep 20, 2018

SunTrader said:
"..., government is not the solution to our problem; government is the problem."

- Ronald Reagan

If you think like a Keynesian, talk like a Keynesian ....

I don't think like a Keynesian, they would print money rather than producing new products to sell abroad.

morganist · Sep 20, 2018

cdcaveman said:
Supply side economic stuff is still interventionist ..

How is developing new products to sell abroad and bringing money in from the foreign market interventionist? The point of the letter was to source money from outside of the domestic economy. It is an action which is taken outside of the domestic economy and cannot be interventionist. It is free market business, when governments trade internationally it becomes a free market operation. Read the letter and the article it will explain the limitations of the existing government revenue model. The concept is the complete opposite to what you are claiming. Trade is better than tax! is the name of the article, so why not trade?