Saturday, May 22, 2010

Cameron: Tax cuts due in 20 years, probably

"In an interview with The CoalitionGraph, the Prime Minister said he would deliver “lower” rates of tax as soon as economic conditions allowed."
Always the weasel words.

And once again, Heath-Cameron has it 'derriere avant visage', because unless taxes are cut and government spending is reduced on a 100% proportionate basis to allow these cuts, then the economy is going to remain in a Japanese-style perma-depression, ad infinitum, with government continually sucking up productive output and destroying it with wasteful consumption.

(And that's if we avoid hyperdepression or hyperinflation.)

No doubt Heath-Cameron is taking advice from the same economists who failed to predict the credit crunch and the current world's financial travails, on when real economic growth is going to come back to Britain (which no doubt will be stimulated by further government spending.)

With one or two exceptions (such as Nouriel Roubini), the entire situation was only predicted in sectional detail by adherents of the Austrian School. And yet this is the economic school which is currently being entirely ignored by the world's political leaders.

No doubt, this has nothing to do with the general advice from the Austrian School which is for governments to dramatically cut spending and to cut taxes to allow it, thereby greatly diminishing government wealth, power, and control over the societies which they currently parasitise like metastasising cancer cells.

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