1) There's a strong concentration on technicalities at the expense of the political message being pushed.
- For example a lot of concentration on the technical notions that a cut in low earner tax (e.g. a NI holiday) would feed into the economy quicker than infrastructure:
- No mention of the role of infrastructure contracts in slowing the collapse of construction employment.
- No mention that infrastructure spending provides more stimulus than tax cuts.
- No mention that in a highly indebted environment, low end tax cuts are as vulnerable as other money supply measures to "pushing on a string" problems.
2) Most of all however, no mention, as you note that they wouldn't actually be proposing a tax cut for the low end, let alone a tax cut for the low end only.
3) The allocative efficiency argument is so depressing, as we face a crisis built up out of the misallocation of resources by the market over a long period.
>The right-wing tendencies of the British blogosphere
