Basic (Very Basic) Economics

[poliphilo]

OK, so the rich are also going to be hit by the chancellor's latest measures. Good. But will it be proportionate? Will increasing tax on  savings inflict the same amount of pain on the rich as decoupling benefits from the cost of living will inflict on the poor? Of course not. The rich can take it. They have resources. A bob or two to fall back on. That's what being rich is all about. They can take losses without it affecting their quality of life. The poor, on the other hand, feel every cut. A tiny loss in income can spell the difference between eating and not eating, or eating something nutritious and eating rubbish. Take thousands off a millionaire and he's still a millionaire; take a few pence off a poor family and you make them destitute. 

I don't think our politicians understand this. Any of them. They're all rich- most of them by inheritance. Is there a single person on either of the front benches with first hand experience of poverty?

Comments

[veronikos.livejournal.com]

Me, too. I find most people to be ire-filled creatures incapable of seeing anything but their own points of view, despite their alleged, lip-service to tolerance and compassion. You're a noteworthy exception, of course. And...just between us...I know it comes from you having looked your own self in the eye. As have I.

My spouse is English, and I travel widely in the UK. I'm accustomed to the very short shrift that most British give Americans, just as a matter of course or habit. People deny such outwardly, but the inner sensorium cannot be fooled. :D

[poliphilo.livejournal.com]

Political opinions shouldn't be taken too seriously. Mine were formed in opposition to my parents' because that's the sort of relationship we had. I stick by those opinions but I know they're not essential.

We Brits were king of the castle and you replaced us. It's something we find hard to forgive. :)