Friday, 8 October 2010

Are we in it together?

David Cameron says it is time to pull together to help reduce the national debt. But he has only given us his plan about cuts in public services and reducing the benefits for the poor. He has failed to put the burden of reducing national debt on the bankers and the mega rich of the country. 

OK then here is a suggestion. How about this idea? A one-off tax of just 20% on the richest 10% would practically clear the national debt at a stroke. And without having to slash public services and throw people on the dole.

Seems fair to me. The total wealth of the top 1,000 increased by a third in the last year. The top 200 people alone on the rich list were worth a collective £228.8 billion and the richest 10% are worth over £4,000 billion!

Think the Tories will go for it? Not in a million years. When Cameron talks about spreading the pain, it is not the rich he has in mind who will be doing the suffering.

(Watch Respect Party's Ken Loach make the same case for taxing the rich on Newsnight from earlier in the week).