Quote:
Originally Posted by g jones
And the 50p tax rate and 5% stamp duty on mansions? Didn;t you aregue that all Labour want's to do is penalise the successful?
Your argument would have merit if Germany's and Japans economy hadn't had deeper recessions, if unemployment was higher in the EuroZone and USA.
It would also be an acceptable argument if Britain wasn't so reliant on financial services or that every other country has adopted Gordon Brown's solution.
|
The 50p tax rate will send people out of the country. Better to tax them on something, and have their wealth generating skills in the country, than tax them on nothing and do without. The 50p tax was nothing to do with the economy and everything to do with trying to trip the Conservatives up.
Japan has lower unemployment than the UK, despite their economy still being marred by their own financial crash in the 90s. Germany has had unemployment dropping for years, we've had it rising for years.
We're running the same structural deficit as Greece, which is having to be bailed out. Every family knows you can't spend more than your income.
We were the first of the G20 countries into recession, and the last out. Hardly a thumbs up for our economy.
We're at risk of losing our credit rating, as the private sector loses confidence in the governments ability and willingness to pay back it's creditors. That will mean an even greater cost in interest payments to bankers, payments which already dwarf the entire defence budget. Interest rates will rise, people with mortgages will really feel the pinch, and may lose their home. Working people will be the ones who suffer.
We have to avoid this at all costs by government living within it's means and cutting the deficit immediately. There is no time to wait.