Treasure Islands

Compass is promoting a new lefty theory-of-everything book: Nick Shaxton’s Treasure Islands which Compass claims is

backed with hard-hitting evidence that most people intuitively sense already..

by which they mean the data has been mined to within an inch of its life in order to confirm left-wing prejudices. Of course naughty people squirrel money away from Governments. They always have. Perhaps if Governments didn’t take more than the 40-50% of marginal product (the current highest marginal tax rate in the UK is 62%), or seek to tax away someone’s capital, people might think the tax demanded by greedy states was reasonable. This is why the 50% rate raised no money in the UK. The people who were supposed to have paid it thought it spiteful and vindictive. Which it was. Most of them were business owners, so they tightened their belts a bit, cut their income and paid taxes at a lower rate instead. 40% (plus NI) people could live with. 50% they couldn’t.

“Most people easily recognise that a vibrant economic life in a nation does not come from the domineering, patronising sneer of an arrogant overbloated sector”

They’re talking about finance, without Irony, or noting that the Government is spending 50% of GDP. Which sector: finance or Government is more “overbloated”?

In the past, radicals have complained about taxation. Now they campaign in favour of it (on others). The left is now the establishment. Labour is the party of the unionised public sector, the benefits claimant and those paid to farm them; and they’re demanding the rest of us continue to fund their lavish salaries and pensions.

The fact is, I can’t think of a less productive and more wasteful way to spend money than taxes.

Is a marginal tax-rate of 50% really reasonable, on anyone? Most people who actually have to pay it say ‘no’. Government needs to tighten its belt more. Because thanks to the Last Government,

“there is no more money”.

5 replies
  1. Andrew Zalotocky
    Andrew Zalotocky says:

    Yes, the left have become the establishment and that’s why they have become so reactionary. When you become the establishment you’ve reached the top, and once you’re on top there is no way to go but down. So any change that isn’t dictated from the top begins to look like a threat. The establishment always fear anything they can’t control.

    Perhaps the wider lesson is that real political change depends on changing institutional structures rather than just putting the "right" people in charge. People are changed by the roles that they take on, often to a far greater degree than they ever realise. When you become the boss you start to think like a boss.

  2. Malcolm Bracken
    Malcolm Bracken says:

    At last an intelligent comment that isn't "yeah? But Cameron smells of POO!".

    "Perhaps the wider lesson is that real political change depends on changing institutional structures rather than just putting the "right" people in charge".

    I say I'm a libertarian because I don't trust the Government, and I would rather trust the people to make their own decisions, which is why Free speech and free markets are (or should be) more important than democracy. It means fewer spaces where politicians can screw things up.


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