Basically we have had low taxes for the rich for a long time and the economy has stagnated. TBH it is common sense – If you have a few million you buy everything you think you need and then … holidays abroad. Austerity shut down youth clubs and libraries amongst many other things. So raise the tax threshold and increase tax on wealth. My house has doubled in value in the last 20 years and has put homeownership beyond the hopes of many of the young. I suppose it is supply and demand? Cut immigration and house prices may fall? But that would require educational spending and a rise in tax! Doctors and nurses are in short supply – I am already losing the tread here!
So start again. Raising tax on the rich and wealth is sensible economics – austerity showed that the reverse did not work. Food is tax free – even VAT; whilst shelter (housing) is horrifically expensive. Cut housing costs and the welfare budget plummets.
Other news – Trump desires headlines again. He has raised tariffs on Canada again. The guy is a fuckwit. Maybe Epstein files are rising again? I am not a great fan of globalisation and capitalism – BUT – it needs to be stated that several billion people have been taken out of absolute poverty in the last 40 years. I would wish for a kinder economic model, one where people were put first along with the environment. So on the face of it Trumps desire to promote USA industry is great. However the wealth of Americans is likely to be starving people in the economically poorer parts of the world.