08 May 2012

Tax The Rich To Pay Deficit

This is what the media will never say. They go on and on about austerity, how cutting public services is the only option. They also go on and on about the 'burden' of taxation. This is because the media is controlled by the rich and powerful. But voters are making it clear - by all means hurry to pay the deficit, if you must, but don't hit the poor with service cuts and tax rises. Hit the rich.

France's new president elect - Francois Hollande proposes 75% tax on the rich. The Right scream that their rich will leave, lets see what happens.

The rich have the money, the poor (as the credit crunch has demonstrated, mostly do not).

Currently, those on moderate wages are being asked to pay to the rich what the poor couldn't afford to.

I say the rich shouldn't have pushed these loans on the poor in the first place. A one off 20% tax on the wealthy would pay off the deficit tomorrow. Eventually people will hear this message whether the media like it or not.

1 comment:

  1. You are aware of the difference between a deficit (ongoing gap between tax revenue in, and spending out), and debt (the total of all your deficits and surpluses added together)? And that while a 'one off' tax on 'the rich' might get rid of the deficit for one year, it would do nothing to help the year after? And that the total amount of debt would continue to grow after its one year hiatus?

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