In: Uncategorized2 Sep 2011
The campaign to promote shared sacrifice by calling for higher taxes on the wealthy seems to have taken off across Europe. In many cases rich individuals seem to be following the example of Warren Buffett (see 21 August post), one of America’s richest investors, who was in turn heeding Barack Obama’s call.
I know of no such campaign in Britain but the Spectator, a conservative weekly, has called on the government to take on the “undeserving rich”. In the magazine’s view the small minority of rich who are undeserving “are undermining support for capitalism and helping create an anti-success, left-wing mood in the country.”
To reiterate my earlier post on the subject I am indifferent to how much tax the wealthy pay. My concern is that the call for self-sacrifice is helping to “sell” austerity packages across Europe.
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