Whilst the UK still lumbers under high COVID infection rates, and the economic recovery stalls, with GDP growth now at a trickle, the government wants to raise taxes. Even if you believed it was a fair tax, is next April – when the rise kicks in – the time to be taking spending money out of people’s pockets. But, as Phil Dobbie discusses with Prof Steve Keen, this is far from a fair tax. Those earning over £50,000 per year will pay disproportionately less than those on lower incomes. The money will help to fund the health care sector which is predominantly serviced by for-profit companies, some of whom are paying their senior staff very handsome salaries. We’re told we can expect more tax rises soon as the Tory government scrambles to reduce its debt burden. All of this ignores, of course, the ideas of Modern Monetary Theory (MMT) that suggests governments can overspend if the excess money is used to create jobs. Even if you ignored MMT, doesn’t the issue of caring for the elderly, raise the obvious question about inheritance tax. Isn’t it time to tackle Britain’s problem of hereditary wealth?
Related Articles
Dennis Meadows – Limits and Limitations: Is It Too Late for Climate Action?
https://youtu.be/qukZvhwuqSg Dennis Meadows begins as 12:00 In 1972, a group of elite researchers published a report that is more than a mere piece of research: It is a warning for humankind. Exactly 50 years later, […]
David Hearst – Iran called Netanyahu’s bluff. What happens next?
16 April 2024 Did Iran fall into Israel’s trap when it attacked on Saturday, or did it outmanoeuvre Netanyahu? Are we on the brink of regional war, or can the US contain the spill? When […]
Medya News – View from the Swedish Left: Sarah Glynn talks politics with Daniel Riazat MP
At least there are some Swedish MPs who have not abandoned the Kurds. Listen here.
Be the first to comment