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Y'days post: Why can’t we do fiscal policy in a grown up way?
https://mainlymacro.blogspot.com/2025/03/why-cant-we-do-fiscal-policy-in-grown.html
In the last 6 months forecast taxes have fallen, so the government has reduced its spending plans to meet its fiscal rule. Cutting spending rather than raising taxes is a political choice.
The problem with raising Tax in the UK is no-one wants to pay it, they all want what their Tax pay's for like the NHS and schools but they just don't want to pay for it.
No one likes to pay tax. But we see where the money is piling up - and that is where the tax increases should be.
The rich know they and their companies have been freeloading, with the lowest tax burden in decades. They'll scream and make political trouble, but they'll pay. It just takes will.
I've not been very impressed w #Labour , but tax rises on pensions >£1m and corp payroll are good moves (IMO). More #TaxTheRich increases, please.
@TCatInReality @lyndamerry484 @sjwrenlewis More than once billonaires have called for a head tax: a constant dollar tax to be imposed without regard for income or ability to pay. A failed attempt to impose this (the "community charge") triggered the 1990 Poll Tax riots in London and Bristol after thousands of protests.
Personally, I think a rather different "head tax" is in order for just the billionaires: their head IS the tax.
@LukefromDC @lyndamerry484 @sjwrenlewis
I'd rather just collect a reasonable amount of wealth pike they hoard.