Thursday, September 10, 2009
The Easy Way to Solve Fiscal Deficits
For the UK and the US. The best solution to both fiscal deficits is to raise income tax, progressively, to the levels required to cover problems.
Perhaps also we should have a 1/20th take on all fixed wealth over the median+20% of house prices. [The ...US could also do with a national VAT and gas/petrol tax.]
The basic rule is this. 2-3% of the population own 90% of the wealth.
TAX THE RICH UNTIL THE PIPS SQUEAK.
[The picture is of the great Labour politician who used this phrase in an election *that Labour won* in 1973].