Richard Murphy: "The Joy of Tax"

• Richard Murphy on the functions of tax

  • Ratifies the value of money

  • Tax reorganizes the economy so that it delivers the government's economic goals

  • Tax helps redistributes income and wealth

  • Tax can correct for market failures in pricing due to externalities, e.g., compensating for pollution

  • Income taxation encourages people to vote and thereby enhances the representative nature of government

Richard Murphy, The Joy of Tax: How a Fair Tax System Can Create a Better Society