Indeed. I’ve been watching Gary Stevenson’s videos on YouTube that discuss this.
I’m on the fence about him individually - I read he maybe exaggerates a bit about how successful a trader he really was - but what he says makes sense to a layman like me. I’ve been meaning to read his book when I get some spare time.
But I ain’t no economist… I just work with 'puters.
Told you a million times everyone exaggerates
Of course it has been a mantra of the Right - bankrolled by the very millionaires who knew from the outset that trickle down sounded good but did not work in practice (well, it did - to increase their wealth).
It’s like deja vu all over again 
Folks reaching voting age and still believing a single word uttered by a politician is why we’re in this mess.
Twisting my words - I did not write that taxes should be ‘kept low’ for the rich - just that the usual demands that the ‘rich pay more’ just doesn’t work after time. UK figures have proved that; as for the LSE economics figures - really - the LSE ?
There should be far higher tax bands before the low income earners pay tax - agree or not ?
The ‘rich don’t spend’ - talk to ordinary workers in London who ‘are’ feeling the pinch as the rich are leaving the UK.
And cutting French spending - you really think that everything French politicians spend tax payers money on is necessary, valid, needed - honestly ?
The evidence that the “rich are leaving in droves” isn’t there, as has been pointed out.
As for ordinary workers feeling the pinch - yes, something happened around the 2020 time-frame which has had a profound effect on the british economy,
They don’t - not in terms of percentage of their income.
“Poor” people spend most of what they get, which recycles the money in the local economy to a large extent. If councils were still able to provide social housing then their rent would do the same but sadly that tends to go to private landlords these days.
The rich spend on food and entertainment, sure, but as their income outstrips their immediate needs the rest goes into savings, or shares which locks it out of the economy.
It’s an academic institution of high reputation.
Yes, agree with that. “Fiscal drag” has been used (in the Uk and probably elsewhere) over the last few years as a way of raising income tax without changing the headline rates. And it has disproportionately affected the less well off. I find it odd that you support this but not making the very wealthy pay their fair share, which would be needed to offset the loss in government revenues.
The two are not directly linked. Nobody in London is better or worse off because a few rich people leave the UK. Also I would be interested to see hard evidence for this assertion, not just a anecdotal comment about “ordinary workers” and “the rich leaving the UK” - the latter statement has already been debunked.
It’s where the rich people’s money is invested, and where and how it’s taxed, that matter. as @billybutcher has commented, the very wealthy are not engaged in manufacturing or commerce and do not employ people directly (apart from a few household servants). Their wealth is partly locked up in property and that portion that’s in bank accounts or stocks mainly generates more wealth for themselves (on which they are taxed at a lower rate than employees, if it’s not in a zero tax jurisdiction) - only indirectly does it get used for wealth creation by being loaned to enterprises.
I think the problem with wealth is what do you do with it ?
So you created a company (probably a young kid these days) producing the next best thing. You have accumulated all this wealth.
Now what ? Bigger car, bigger house, build a rocket ?
What do you with all that money ‘
Well you give most back to society.
You only need so much money to live on.
That’s a problem?
Destitution could be difficult to achieve. It’s complicated.
L’article 68 de la Constitution française définit les conditions de destitution du président de la République et les modalités de la procédure devant la Haute Cour.
I think so
If I won 100 million on the loto. I would give 95 million away.
I have been watching this mess on TV all day on BFMl (I have COVID …which is why am posting so much)..
Macron I think will resign in the next couple of weeks
That would be the moral thing to do, indeed. Some billionaires have done this - Joseph Rowntree, Andrew Carnegie, J Paul Getty, and in our own time Bill Gates, Michael Bloomberg, Warren Buffett, and so on.
But many just sit on their wealth or hand it down within their own family.
Because apparently “wealth addiction” is a thing, along with “asset rivalry”. MacKenzie Scott is thankfully someone who is giving away lots and lots of her sizable fortune.
And yet they don’t. As explained here the ultra rich, instead of paying taxes like you and I, will just follow the buy, borrow, die strategy…
I think comparing France to the UK is difficult.
France has a Left, a Centre and a Right. This will (and always has) caused issues. Which while fractious is probably not a bad thing for democracy. I like Macron and I’m sorry to see him in a bind.
I’d say the extreme Left and extreme Right here are equally dangerous, but at least the leading politicians fight their own ideological corner. Nor just trying to outdo one another on the same philosophy.
On the other hand, the UK today is just shades of Right. It has three right wing parties. Labour, which is Right, the Conservatives who are far Right and Reform who are fevered wannabe fascists with a neat populist twist.
If I’d more respect for the UK electorate I’d think this could be the Liberals moment.
So while there may be bumpy road ahead of us here, there is at least choice. In the UK the current choice is between the Right, the far Right and (incompetent) fascism.
Well, we have a true political Left but the Green party has never been especially popular, and the Socialists favour fighting the Communists rather than doing anything more useful - and vice versa.
Are you writing about UK parties ou French?
