@TorstenBell All financed by taking money from the productive, growth generating part of the economy right? So not going to generate growth.
Do you see? No. Of course you don't.
@Sendthanx@AaronBastani That’s the issue. If taxes were lower and there weren’t silly cliff edges all over the place, I would invest more in my life (home, travel, charity) & business. But the net returns have become so poor & unreliable it makes more economic sense to put so much towards retirement. 🤷♂️
@Sendthanx@AaronBastani Yup. I will have way higher income in retirement than I do now. Especially when you factor in NICs stopping and state pension starting.
@AaronBastani Quite. I only pay myself enough from my business to live but keep household income below the various tax and benefit-withdrawl thresholds. No-one wins here, multiply this by literally millions of people and the drag effect on the economy is substantive.
Spend £1 with a local independent and much of it stays in the local economy.
Spend £1 on Shein and the manufacturing, design value and profit flow to China.
11,341 independent UK shops closed in 2024.
We choose what survives.
@AaronBastani How on earth does someone else being rich mean “the end of the middle class”? Did the rise of billionaires destroy society? Obviously not. Many were envious, but that’s just a subjective emotional problem.
@lewis_goodall It's only a problem if you don't have equality under the law. You could have a ton of multi-trillionaires, it wouldn't make anyone poorer. Quite the opposite- far more economic value and opportunity to go round.
Media covering Musk trillion without any real regard to broader issues of inequality, tech bro abuses of power, his extreme politics. Glad to have been in a primary school this morning where the views on Musk were a lot wiser and less flattering.
@Mr_Poletski@DanNeidle@softleftlabour Keynes marginal propensity to consume in action. Better to prioritise allowing business to produce more, lower prices and employ more people at higher wages.