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because that worked so well under Bush. More debt is not the solution to an overdose of debt.

Spending is indeed necessary (but investment, not consumption), only the State can do it in the short term - thus this calls for tax increases, on those that won't see their consumption affected: the rich.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Mon Nov 17th, 2008 at 05:36:08 PM EST
[ Parent ]
It depends on what taxes are reduced and what spending is done.

I have some (not a lot, but some) sympathy for the idea that reducing taxes at the bottom end, maybe even by 4 - 5%, can provide a stimulus to the high street, which is likely to shed jobs if people rein in. And that sheeding of jobs will reduce confidence still further. I would also like to see benefits improved, ie that people below tax threshold got a bit more to cope with prices.

Naturally, I actually want taxes to rise at the top end, not just in the waged sector but I want significant tax rises and the slashing of exemptions for those who are well above the waged sector and hwo have benefitted disproportionatley over the last 30 years. I want the non-doms taxed, I want the tax exiles creamed, and I want foreign millionaire residents who currently pay nothing to contribute something.

As for spending, I really don't want to bail out hte financial institutions. We simply seem to be encouraging takeovers that make the "too big to fail" situation worse. I personally want a huge increase in social housing; we have a failing building sector that hasn't the confidence to make new build starts and a massive undersupply of affordable housing at the bottom end. This is a great opportunity for the govt to be pro-active in creating jobs and addressing urgent needs. And if I'm wishing for magic ponies I might as well ask for failing manufacturing to be skewed into the windfarm business.

To pay for it I want trident stopped, ID cards stopped, Iraq stopped, those stupid aircraft carriers stopped, the aircraft to go on them stopped, afghanistan turned into something useful.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Tue Nov 18th, 2008 at 05:57:40 AM EST
[ Parent ]

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