Let's get something perfectly clear for the economic illiterates who apparently run government ministries: WELFARE IS AN ENORMOUS BOOST TO THE ECONOMY. EVERY PENNY IS USED TO PAY FOR RENT AND FOOD AND UTILITIES.
It has a massive economic multiplier effect.
It has a massive economic multiplier effect.
This is probably the best possible argument for mincome (UBI). The money is immediately returned to the economy which tends to amplify economic growth via increased consumer demand.
Then again these are the same nings caught out by the drop in consumer demand following the cut in penalty rates.
Cause and effect seems to be a bridge to far for these dogmatic neoliberal types.
Cause and effect seems to be a bridge to far for these dogmatic neoliberal types.
And this is the best possible argument for progressive taxation: beyond a certain, measurable point, wealth accumulation adds nothing to economic growth and can be heavily taxed safely.
And no, this isn't rank socialism. This is a mixed economy. And if you don't want your nation to end up in a toilet of nationalism (looks pointedly at the US and UK) you are going to need a mixed economy to keep economic inequality in check over the long term.
