Liz Truss’s plan was a good plan.
What’s wrong with energy price caps for the poor?
What’s wrong with giving a tax break to people making 160,000 pounds a year?
Both measures would have put money in the pockets of regular people.
Let’s be clear here: people who make 160,000 pounds a year are not rich. Jeff Bezos is rich; Elon Musk is rich; Richard Branson is rich. A guy or gal who makes 160,000 pounds a year is upper middle class at best.
Putting more money in the hands of regular people is not trickle down economics. Trickle down economics is when you give the government more power to give more money to big corporations.
Where are the concerns about inflation when money is printed up for military spending?
They don’t exist; they only arise when a leader proposes printing up a few bucks to help regular people.
Where was the roiling of the bond market when money was printed up to benefit large corporations?
Where was the roiling of the bond market when money was printed up to send money to Ukraine? It didn’t exist.
With Liz Truss’s resignation, the message is clear to every political leader: do nothing to help the poor and middle class or we the bankers and the ruling elite will wreck you and your political career.
Liz Truss’s resignation is a bad deal for the citizens of the UK.
It’s not only a bad deal economically; it’s also a bad deal educationally.
It’s a bad deal educationally because it helps promote the canard – promoted by the wealthy elite and their mainstream media – that trickle down economics is equivalent to giving tax cuts to people who make a few more bucks.
As stated previously, putting more money in the hands of regular people is not trickle down economics. Trickle down economics is when you give the government more power to give more money to big corporations.
Giving the government more money to build projects which ostensibly help the poor is not trickle up economics. Trickle up economics is when you give regular people more money in their pockets to make choices which are more relevant to their lives.
The problem with public projects (NHS) is that the government is not always wise with the people’s money. More often than not a big cut of the money goes to connected government contractors who are cronies of the government officials.
Consequently what seems to be trickle up isn’t reality trickle down. It is trickle down because these large corporations who steal public money through grants and contracts don’t pass this extra loot on to their employees.
That’s why Liz Truss’s plan was a good plan.
Would her plan have led to inflation?
I don’t think so. I think her plan would have stimulated the economy.
With more money in their pockets, the confidence and well-being of people would have improved. That’s an important part of the economy that should not be underestimated.
Improving confidence is a deflationary move.
Greater confidence leads to greater innovation and greater productivity.
People who might not have started a business under austerity and gloom – that will now surely befall the UK – would have begun new businesses that would increase employment in the UK. More people would be making more money. Good times would return.
That is not a possibility now.
Now, the UK will descend slowly into the muck and mire of penny-pinching austerity.
That’s a shame.
Liz Truss’s plan was a good plan.
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