Missed a bit.....

Britain may have a viable path in either direction: higher broad-based taxes to fund a larger state, or lower spending to sustain a lower-tax economy. I don’t know which would be more successful, but I know that we cannot have both.

Politicians can keep pretending there are pain-free answers: cutting “waste” on one side, taxing “other people” on the other. That may fool the voters and win elections, but sooner or later, we have to choose. Higher taxes that most people will pay? Or spending cuts that most people will feel?

The strategy of taxing “other people” has run out of road.

Posted By: SimonOTBC, Jun 24, 11:24:15