Why is there a cost of living crisis in one of the richest nations on Earth?
Because of extreme inequality.
Regardless of a few feeble sops, the Tories are making it worse.
Last night, they gave bankers a tax cut worth £1bn a year.
While raising NIC for ordinary workers.
Because of extreme inequality.
Regardless of a few feeble sops, the Tories are making it worse.
Last night, they gave bankers a tax cut worth £1bn a year.
While raising NIC for ordinary workers.
We urgently need a radical redistribution of wealth in the UK. By means of:
Higher top rates of income tax.
A lifetime gift tax.
A progressive property tax.
Windfall taxes on energy firms.
Meaningful carbon taxes.
Major taxes on second homes and holiday lets.
Higher top rates of income tax.
A lifetime gift tax.
A progressive property tax.
Windfall taxes on energy firms.
Meaningful carbon taxes.
Major taxes on second homes and holiday lets.
These taxes have two functions:
1. To break the spiral of patrimonial wealth accumulation, which is as deadly to democracy as it is to equality.
2. To raise revenue that can be spent on a Green New Deal, the NHS, much better schools and other essential measures.
1. To break the spiral of patrimonial wealth accumulation, which is as deadly to democracy as it is to equality.
2. To raise revenue that can be spent on a Green New Deal, the NHS, much better schools and other essential measures.
Some people will say we don't need to raise revenue this way, because MMT.
I would ask: are you absolutely sure?
Because if you aren't 100% sure that it'll work long-term in the UK, by promoting it you might inadvertently help to sustain inequality.
I'm MMT-curious, but unsure.
I would ask: are you absolutely sure?
Because if you aren't 100% sure that it'll work long-term in the UK, by promoting it you might inadvertently help to sustain inequality.
I'm MMT-curious, but unsure.
Some people are interpreting my hesitation as a result of lack of exposure to the upsides of MMT. It's not that. I've read quite a lot of material in favour. What I've not explored sufficiently are the potential downsides. I'm not confident that I have the whole picture.
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