Well said, Simon. Every single recommendation from the Commission of Audit was excellent. Why didn’t Joe follow through?
Giving any Left-of-Centre party the reins of government is like giving Dracula the keys to the blood bank.
Firstly, they spend like there is no tomorrow, and when they run out of money, they just put up taxes and/or borrow more, which eventually cripples the economy and bankrupts the government. It never gets to that stage of course, because the electorate, who generally appear to have very short memories, vote them out at the last minute and leave the fiscal conservatives to clean up the mess.
This has been going on for decades. In the UK in the 1970s, then Chancellor Denis Healey famously said he wanted to tax the rich “until the pips squeak” (although he denied it later). At one point, the highest rate of income tax was 98%. Just think about that for a minute – over a certain (admittedly high) threshold, for every pound…
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