The reaction is more interesting than the Rally
Friday, April 08, 2011
I'm attending the Rally Against Debt. And that makes me worse than a Nazi, according to the hysterical Left – Telegraph Blogs.
If you are following the #RallyAgainstDebt discussion on Twitter or elsewhere, you will have been struck by the ferocity of the Left's reaction. The cuts only started yesterday and they are mild. They are little more than Labour promised, and probably pretty much what it would have had to do, if re-elected. They are being implemented without enthusiasm and are inexplicably not targetted on social engineering projects.
There is no ideological sea change here. Press and public may confuse "deficit" (the shortfall in government revenue) with debt, but that's just stupid. The cuts are only in the rate of increase of national debt. There is no plan to repay it. On the contrary, it's planned to grow. Like only the most improvident households, the country is borrowing to service borrowings. If Ministers were the directors of UK PLC, as they like to fantasise, they would be jailed (and personally bankrupted) for "trading while insolvent."
Debt service is already a major government expense and will continue to get worse during the life of this Parliament. No reasonable person can disagree (indeed even Ed Balls can't disagree) that action needs to be taken. Taxing the rich won't cover it. There aren't enough of them and they are too mobile. The ones who are not mobile will disengage economically if not allowed rewards for the risks they take with their capital. Right now, those living on their savings are losing value by the minute on their deposits. They are hardly going to risk them elsewhere unless there is some return. With idiots demanding that even loss-making companies pay taxes, there's little danger of that. Money needs to be put to productive work for jobs to be created.
The greatest burden of taxation in this country falls on ordinary workers. In our funny snobbish British way, they may fancy themselves "middle class" now, but they are workers by hand and brain who lack enough capital to live without employment. They pay most of the tax and have no realistic capacity to pay more. They have been indebted by politicians buying votes with borrowed money on the basis that their careers will be over by the time the vultures circle. It has been trans-generational piracy on an epic scale.
The TUC, UKUncut and the so-called "anarchists" protesting on our streets (as far from anarchism as can be conceived, but less violent leftists want distance from them) are not kind, gentle, caring people whatever they may say. They are demanding that money we don't have be spent on them. The trade unionists were demonstrating for their own pay and perks. These are selfish, hypocritical and judging by their online incitements - violent people. They have hijacked the language itself to demonise all who oppose them, however gently and reasonably.
Toby Young has not been unfairly selective in the quotes he has chosen to illustrate his article. I have been following the #RallyAgainstDebt Twitter exchanges for days and;
Hopefully, it’ll all kick off in fairly violent style
is pretty typical. As for the BBC, that its "talent" should be tweeting that;
Its like Toby Young thought ‘I dont think enough people think I’m a c**t yet’
is no surprise. My first public spending cut (and it wouldn't hurt a single vulnerable person - Polly Toynbee is financially-independent and can blog her nonsense just as easily as publish it on dead trees) would be to deny The Guardian its advertising revenue by offering all government jobs online. The second would be to shut down the BBC, enemy of all freedom and enterprise and comfortable nest for all the vipers who hate us most.
Great post as usual Tom, but with governments everywhere displaying a disregard for fiscal sanity and common sense legislation. I have resorted to philosophy whereby everything is an illusion and unreal. So I content myself in searching for the real within and look upon them with pity and disdain and then try to eradicate that thought from my contemplation.
Posted by: Peter Whale | Saturday, April 09, 2011 at 08:20 PM
You are quite right.
Posted by: Tom | Saturday, April 09, 2011 at 05:04 AM
As Peter Hain said, Tom - anyone to the right of the Marxists is a fascist bstd. Enjoy.
Posted by: jameshigham | Friday, April 08, 2011 at 04:09 PM
Another great and well thought out post, however if I may:"The greatest burden of taxation in this country falls on ordinary workers".
The burden only falls on 'PRIVATE SECTOR'workers,the unions pay nothing,the 'PUBLIC' sector pay nothing,it's the shop assistant the mechanic the warehouseman and dare I say it the BANK worker etc. who pay for everything.When will the Left get it, it's the poorer groups in society that pay..... Idiots!
Posted by: NewsBoycap | Friday, April 08, 2011 at 02:49 PM
Great post, Tom, and thanks for the link to Toby's article, which is also brilliant.
The mind boggles. It's bad enough that the Lefties feel that they deserve to live at the expense of the rest of us, but it's downright evil that they're happy to condemn future generations to debt slavery.
One of the most frustrating features of government borrowing is that it avoids honest debate. Any self-respecting Big Government advocate should accept the need for a balanced budget and argue for high taxes.
Posted by: Suboptimal Planet | Friday, April 08, 2011 at 12:08 PM