And of course it goes without saying that consumption taxes are brutally regressive. The US has the lowest taxes on consumption and the highest taxes on capital in the developed world. The Economist shows just how anomalous the US is.
And today our President called for higher taxes...on capital. But the problem is this: capital can run. Social 'democrats' the world over have long understood this brutal fact of global political economy. By contrast, the proles have no place to run to, therefore they fund their own compassion while hearing speech after speech from their 'leaders' about the evil 'rich'.
Our politics make cynicism look like Sunday School.
No comments:
Post a Comment