yeah i know taxes mainly go towardsservicing debt, but i would hazard (without having done any research in a while) that the debt that's being served is primarily debt from social spending, projects etcetera.
debt is as much the citizens fault as it is the government.
in very FEW countries is it politically viable as a politician to advocate LOWER spending (save maybe Germany>>>UK)
the public demand better services, more spending hence one of the key reasons for this debt.
you can also thank Thatcher/Reagan and Neoliberalism and there part in the expansion of credit- making it easier for people to get credit cards and mortgage's they by right cannot afford.
your average briton (and same in many countries) has no real concept of saving. people take out loans to service education and so forth, but a briton will gladly get in debt to service a holiday or a car or a house they really cant afford.
so its only right the government tries to cut spending including via taxes.
however I believe too much deficit cutting is bad (look up the empirical effects of Neoliberalism on healthcare and education- IE IMF )
I would as a head of state, take out several billion in loans and consult with corporations, civilsociety, community groups, police, ambulance, sociologists, researchers- and invest wisely in infrastucture, education and healthcare, r and d, and manufacturing.
The UK is a highly advanced economy but OECD countries like the UK and US arelagging in educational indicators behind the likes of Japan/Korea because they dont invest enough in education
well by def. capitalism is the trickle down effect of moneyeventually reaching you or me, so i dont understand how we are in a oligarchy?
these corporations are the definition of capitalism and free enterprise. (and i also believe the UK like USA has no way near enough effective regulation of the free market- these free market purist fags like Thatcher and Reagan- didnt have much of a clue- although free market purism has its benefits)
that's why the US and UK will keep on being exposed to volatile market forces perhaps more than other countries (although the UK gvt did a good job of keeping us relatively afloat)
Last edited by Shadow Demon; 06-30-2012 at 06:00 AM.