High taxes highjack

[Endovelico]

Interesting article in the "Independent" today

Carers driven to breaking point

Creeping cuts on local government social services for chronic care are less visible and politically sensitive than for the national sacred cow, acute services on the NHS.

A tragic situation that will only get worse across the industrialized world as the boomer bulge continues it journey across the demographic plots.

This situation is exclusively due to governments not wanting to adequately tax the higher incomes and capital gains. The extreme power of financial interests throughout the world must be tackled by nationalizing the whole banking activity and all oil companies, without exception. That's the only way we will avoid being held to ransom by those interests and will be able to finance social security. Any minor loss in efficiency - which is far from sure - would be more than compensated by better social services for all.

[Torchwood]

Interesting article in the "Independent" today

Carers driven to breaking point

Creeping cuts on local government social services for chronic care are less visible and politically sensitive than for the national sacred cow, acute services on the NHS.

A tragic situation that will only get worse across the industrialized world as the boomer bulge continues it journey across the demographic plots.

This situation is exclusively due to governments not wanting to adequately tax the higher incomes and capital gains.

Merci. M. Hollande.

No it's not - it is due to the combination of an ageing population, the elimination of infectious disease which killed people earlier and quicker, and the whole of the Western world living off a 25 year Ponzi scheme (the later is casino economics not capitalism) which provided illusory income. It is a well known empirical fact that while very high marginal tax rates on income make egalitarians feel good, they reduce tax revenue, due to evasion and people deciding "why bother" when offered a higher income for a more difficult job.

The extreme power of financial interests throughout the world must be tackled by nationalizing the whole banking activity and all oil companies, without exception. That's the only way we will avoid being held to ransom by those interests and will be able to finance social security. Any minor loss in efficiency - which is far from sure - would be more than compensated by better social services for all.

I look forward to the monopoly state bank assessing investments ("picking winners") with the exemplary efficiency and political impartiality one normally associates with state institutions. More regulation and banning dodgy derivatives, separating investment and retail banking, yes.

The oil companies are mostly nationalised already - Aramco, Petrobras, Gazprom etc. The seven sisters don't have much power any more.

These are all issues for another board, in Finance and Economics.