With the absolute mess the UK is in thanks to Tories it would be wise the do the opposite of what she recommends.
Liz Truss urges world leaders to follow UK with trickle down economics
21–30 of 64 posts
Re: Liz Truss urges world leaders to follow UK with trickle down economics
#22Has there really been lack of capital for investments in recent years? Shouldn't all of the western economies be in excellent shape with all possible investments avenues done now? As isn't entire point of trickle down increase availability of capital?
In Britain alone the Government has borrowed half a trillion pounds (roughly 25% of GDP) in 2020-21. Most of that went into the hands of normal people via furlough (paying people 75% of salary to stay at home during Covid), support for the self-employed and loans (up to £50k) for small businesses.
It would be fascinating to see a study into where this money ended up. As you say, it should have found its way into the economy and in turn the pockets of large companies/the Government which could use it for capital investment, but in reality the country is crumbling.
Re: Liz Truss urges world leaders to follow UK with trickle down economics
#23Poundland Thatcher.
Re: Liz Truss urges world leaders to follow UK with trickle down economics
#24UK has no place to lecture anyone else on economic management. The country has one of the lowest growth rates in Europe, has crashed exports to its biggest market, maintained imports by simply waiving customs checks opening up the domestic market for all kinds of fraud, has signed one-sided free trade deals for the newspaper headlines, introducing competition to those domestic producers for no equivalent gain for exp…
> also deciding to escalate hostilities with China, the world second largest economy
After what Russia has done to Ukraine, I sincerely hope more democracies put values before trade. UK is doing what everyone else should be doing, but don't have the courage to. Not something to be ashamed of.
Re: Liz Truss urges world leaders to follow UK with trickle down economics
#25Related discussion from less than a year ago:
20 year study of global wealth demolishes the myth of ‘trickle-down’: https://news.ycombinator.com/item?id=29483131
Re: Liz Truss urges world leaders to follow UK with trickle down economics
#26> Biden, meanwhile, tweeted: “I am sick and tired of trickle-down economics. It has never worked. We’re building an economy from the bottom up and middle out.” And the Petrodollar, which allows us to mostly do whatever we want. Just a side note.
The US have become a net energy exporter and the largest exporter of natural gas. This strategy is paying off, especially when you compare with the situation in Europe, which has chosen the opposite strategy (shale gas exploitation is banned).
> This strategy is paying off, especially when you compare with the situation in Europe, which has chosen the opposite strategy (shale gas exploitation is banned).
At least our water taps aren't on fucking fire [1]. Fracking is dangerous and unlike the US, Europe doesn't have wide swaths of unsettled land where no one cares about if natural resource exploitation is destroying nature. Texas fits the area of most of Germany, a third of France, the whole of Belgium and the Netherlands - and only has 28 million people!
The problem was rather that no one here thought to build out diversified, renewable energy - the French bet their house on nuclear and now that half the plants are offline for maintenance or failure, the absurd energy prices are to a large part covered with tax money and public debt (and the lack of capacity by German gas peaker plants), the Italians went big for hydro (which failed thanks to the record drought), and us Germans, well we based our entire economy on cheap Russian gas the last thirty years.
[1] https://www.propublica.org/article/scientific-study-links-fl...
[2] https://www.reddit.com/r/MapPorn/comments/1ckhho/texaseurope...
Re: Liz Truss urges world leaders to follow UK with trickle down economics
#27UK has no place to lecture anyone else on economic management. The country has one of the lowest growth rates in Europe, has crashed exports to its biggest market, maintained imports by simply waiving customs checks opening up the domestic market for all kinds of fraud, has signed one-sided free trade deals for the newspaper headlines, introducing competition to those domestic producers for no equivalent gain for exp…
> also deciding to escalate hostilities with China, the world second largest economy After what Russia has done to Ukraine, I sincerely hope more democracies put values before trade. UK is doing what everyone else should be doing, but don't have the courage to. Not something to be ashamed of.
Do you think breaking all trade with Saudi Arabia is a priority?
Re: Liz Truss urges world leaders to follow UK with trickle down economics
#28Earlier quoted context omitted.
I don't think wealthy are paying much taxes, percentage-wise (significant in dollar value though). There are simply too many tax minimization instruments that they have at their disposal. It's the middle class that is carrying the brunt of taxation. So when they say "tax the rich", what they really mean is "tax the middle class and small business owners". Eventually, you would run out of "other people's money" and yo…
I was under the impressions that the "tax the rich" mentality actually aims to close these loopholes for the super-rich. The idea is (I think) that increasing taxes on the literal top 1% or 0.1% just a little is much more effective than increasing them across the board.
What we the little folk mean for "tax the rich" is indeed "tax the mega rich". What gets implemented for "tax the rich" is a different story, because lobby can more than often sway implementations.
Re: Liz Truss urges world leaders to follow UK with trickle down economics
#29UK has no place to lecture anyone else on economic management. The country has one of the lowest growth rates in Europe, has crashed exports to its biggest market, maintained imports by simply waiving customs checks opening up the domestic market for all kinds of fraud, has signed one-sided free trade deals for the newspaper headlines, introducing competition to those domestic producers for no equivalent gain for exp…
> and also deciding to escalate hostilities with China, the world second largest economy, as a 'pick me' demonstration of loyalty to the aforementioned US.
Agreed on the rest of your comment, but not on this one. The hostilities were instigated by China occupying Hong Kong despite a binding treaty. HK was a former British territory, allowing its unilateral takeover without at least some form of payback would be utter idiocy.
Re: Liz Truss urges world leaders to follow UK with trickle down economics
#30UK has no place to lecture anyone else on economic management. The country has one of the lowest growth rates in Europe, has crashed exports to its biggest market, maintained imports by simply waiving customs checks opening up the domestic market for all kinds of fraud, has signed one-sided free trade deals for the newspaper headlines, introducing competition to those domestic producers for no equivalent gain for exp…
> also deciding to escalate hostilities with China, the world second largest economy After what Russia has done to Ukraine, I sincerely hope more democracies put values before trade. UK is doing what everyone else should be doing, but don't have the courage to. Not something to be ashamed of.
Democracies never put values before trade - UK is at this very moment selling arms to Saudi Arabia, who are currently prosecuting a genocidal war against Yemen. China has been remarkably uninvolved in military conflict for the past 50 years, unlike many democracies