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Do the public want it both ways on the debt? Watch

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    When the government cuts spending on schools, hospitals, roads or police there is always a certain degree of public anger. But quite often the same people will complain when the government raises taxes. Apparently they harbour the fantasy that we can have a Scandinavian welfare state with Texas style taxation. The fact of the matter is we have lived beyond our means for far too long and there is no way we can get out of our current predicament without pain. Benefits need to be reduced down to a bare minimum. I do feel sorry for claimants who have genuinely fallen on hard times and want to work but we have spent so much money on the bad unemployed that we have no money left to spend on the good..
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    Absolutely. Overspanding and debt should be avoided. Every time I have to pay for something that used to be free (like travel vaccines) I am pleased rather than angry. I don't want a free bus pass when I am 65. I don't even want a state pension because I have my own pension and investments. I want to put my own hand in my own pocket because small government is in the interests of the country.

    I also want low taxes because I want to buy my own things rather than the state make my puchasing decisions for me. And I certainly don't want 55% of the economy to be "the state" with its 10,000 page tax code. Benefits need to be removed for lifetime claimants except for people who are genuinely handicapped. And do I want the state to attract scroungers into the state because of it's generosity? Hell no.
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    Yes, that's more or less the public's attitude. Good thing it's not our decision.
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    (Original post by steve78)
    When the government cuts spending on schools, hospitals, roads or police there is always a certain degree of public anger. But quite often the same people will complain when the government raises taxes. Apparently they harbour the fantasy that we can have a Scandinavian welfare state with Texas style taxation. The fact of the matter is we have lived beyond our means for far too long and there is no way we can get out of our current predicament without pain. Benefits need to be reduced down to a bare minimum. I do feel sorry for claimants who have genuinely fallen on hard times and want to work but we have spent so much money on the bad unemployed that we have no money left to spend on the good..
    Believe it or not there is an economic theory that offers the public a 0% headline rate of tax combined with a reasonable level of public services, it's called Georgism/Geo-libertarianism. The idea is to claw money back from the housing market thus lowering prices while simultaneously reducing taxes on income and profits. While the problem you highlight is very real it's also a man-made porblem that exists because our economists and politicians don't have the courage to sacrifice the housing market for the general health of the economy.
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    (Original post by steve78)
    When the government cuts spending on schools, hospitals, roads or police there is always a certain degree of public anger. But quite often the same people will complain when the government raises taxes. Apparently they harbour the fantasy that we can have a Scandinavian welfare state with Texas style taxation. The fact of the matter is we have lived beyond our means for far too long and there is no way we can get out of our current predicament without pain. Benefits need to be reduced down to a bare minimum. I do feel sorry for claimants who have genuinely fallen on hard times and want to work but we have spent so much money on the bad unemployed that we have no money left to spend on the good..
    I think most people would be happy with tax rises for the rich, instead of the tax cuts they get.
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    (Original post by Kibalchich)
    I think most people would be happy with tax rises for the rich, instead of the tax cuts they get.
    I'd be very happy with taxes on unearned wealth such as land values and other government created income streams, it would be foolish to have a blanket tax on wealth though because it discourages capital accumulation and generally retards economic progress. Despite what the socialists say attacking money and ambition isn't a great recipe for an efficient and productive economy. Time to change the record.
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    (Original post by chefdave)
    I'd be very happy with taxes on unearned wealth such as land values and other government created income streams, it would be foolish to have a blanket tax on wealth though because it discourages capital accumulation and generally retards economic progress. Despite what the socialists say attacking money and ambition isn't a great recipe for an efficient and productive economy. Time to change the record.
    land tax, blah blah blah

    *yawn*
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    (Original post by Kibalchich)
    land tax, blah blah blah

    *yawn*
    What's wrong with the land value tax?
 
 
 
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