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Re: Truss backs down on cut to top rate of tax

By: Cactus Flower in ALEA | Recommend this post (0)
Mon, 03 Oct 22 11:19 AM | 23 view(s)
Boardmark this board | The Trust Matrix 		Msg. 47321 of 54853
(This msg. is a reply to 47319 by clo2)
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There's the silver lining.

The cloud is that they reverted to 1980s dogma. We already know how that plays out. The growth is less than it says on the tin. Meanwhile wealthy people get expanded offshore bank accounts and fancier yachts made in some foreign country, while the rest of the country is left paying off the debt for a generation.

I don't think you get much back from the top slice of income earners. Your growth is going to come from people in the middle of the income curve, who may take a risk and launch their own business if they have a little more in the bank. That's my dogma, if you will and it's why I argue my case.


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The above is a reply to the following message:
Re: Truss backs down on cut to top rate of tax
By: clo2 in ALEA
Mon, 03 Oct 22 11:11 AM 		Msg. 47319 of 54853

Glad to see she can change when needed.

The New York Times

BREAKING NEWS

In a striking reversal, Prime Minister Liz Truss of Britain scrapped a plan to cut taxes on high earners, part of a widely criticized proposal.
Monday, October 3, 2022 3:25 AM ET

The announcement, made by the chancellor of the Exchequer, Kwasi Kwarteng, was a major capitulation by the new conservative government.

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