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
![No Picture](https://braveneweurope.com/wp-content/themes/mh-magazine/images/placeholder-medium.png)
Economics
Macro & Cheese – Michael Hudson: The Destiny of Civilization: Finance Capitalism, Industrial Capitalism, or Socialism
January 22, 2023
Mathew D. Rose
Economics, Finance, Financial Institutions, Inequality, National Politics, Tax
0
Michael talks about the current global political economy, oil prices, debt jubilees, monetary hegemony, and the US political parties. When asked for solutions, his answers might be troubling to some. It’s worth hearing him out. Listen […]
![No Picture](https://braveneweurope.com/wp-content/themes/mh-magazine/images/placeholder-medium.png)
Economics
Renegade Inc – Meet the Renegades: Christian Felber
Christian Felber is an Austrian book writer and economics and business teacher at Vienna University, and political activist. His wish is that all human beings can live a joyful, pleasure-full and free life that meets […]
![No Picture](https://braveneweurope.com/wp-content/themes/mh-magazine/images/placeholder-medium.png)
Geopolitics
John Mearsheimer – Genocide in Gaza: Dimensions of an Unfolding Catastrophe
8 January 2024 Begins at 2:50 Genocide in Gaza: Dimensions of an Unfolding Catastrophe Featuring John J. Mearsheimer In Conversation with Lisa Wedeen and Bassam Haddad In this Teach-In, John J. Mearsheimer addresses Israel’s apartheid […]
Be the first to comment