Financial Times: Romney = Bourbons

Posted in Culture of Lickspittle, Decline and Fall at 10:01 am by George Smith

From Martin Wolf, at the Financial Times (registration req’d):

[It] is impossible to look at Mr Romney’s proposals – reductions in marginal income tax rates offset by unspecified reductions in tax expenditures – without concluding that they “would provide large tax cuts to high-income households, and increase the tax burdens on middle- and lower-income taxpayers”. In an economy with surging inequality, this would make the underlying problem worse.

The issues go far beyond economics. Divides over social and foreign policies are self-evidently profound. But the economic choices are also important. Americans have a choice between a man with modest ambitions and someone determined to double up on the fiscal and financial policies of the pre-crisis era. Mr Romney, like the Bourbons, has learnt nothing and forgotten nothing.

For the Financial Times, it’s a pretty good kick in the ass.

If you access it, enlarge the graphical presentation for the plot of the “growth in real after tax income.” The top 1 percent dwarf everybody, even their shoeshine army.

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