Polly T
Here in Blackpool, one drumbeat echoes through the halls - tax cuts, tax cuts, tax cuts. A poll of 1,500 activists by the ConservativeHome website found that 64% to 24% want to "spend less than Labour and spend more on tax cuts". Osborne and Cameron have heard it loud and clear with these highly symbolic giveaways. They talk gravely of fiscal responsibility, yet at the same time they let loose this cascade of cash at the top.Lovely column, Polly. Just one problem: cutting taxes does bring in more revenue - at a certain level. Cut taxes to 0% and revenue falls dramatically. Put them up to 100% and revenue also goes ker chung. The point of the Laffer Curve is to show - is it a bit complicated for you, Polly? - that there is a point at which lower taxes does indeed bring in more money.Valiantly, at a fringe meeting pumping with pressure for tax cuts, David Willetts reminded them that this policy was road-tested to destruction for three elections in a row. He made fun of the flat-taxers and their "sunny Californian Laffer curves", dismissing as fantasy that rightwing belief that cutting taxes brings in more revenue.
For Ms T, it seems, no level of taxes is too high, because none of us has a right to our own money. It's the state's to give back to us.
If the Tories are struggling to push above 34%, can I offer a cheap and cheerful solution? Plaster Ms Toynbee's columns on as many hoardings as possible, with the caption: This woman is Labour.
Should do the trick.
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john moran
October 2nd, 2007 12:58pmstephen, Pollys words "highly symbolic giveaways." hit the nail on the had. The nations wealth generated by private citizens is seen as a "giveaway"??!! by Polly? That thinking is really insane, that the governent is giving us something, as opposed to rational thinking, i.e. takeing LESS!
Caras
October 2nd, 2007 6:25pmWhy are we subjected to Polly Toynbee's ridiculous left-wing opinions? Dur......while we're at it, why not get David Milliband or Alistair Campbell to write something? That was a joke, by the way. Can she not be shown the door and then she can scuttle back to the safer environs of The Guardian, where she is most at home. Ye Gods, is nothing sacred?!!!
Lee Jakeman
October 3rd, 2007 3:27amOnly problem, Stephen, is that our thoroughly brainwashed and illiterate general public are likely to AGREE with the rubbish in her columns - and end up voting Labour in increasing numbers. Yours depressingly, Lee Jakeman
pregethwr
October 3rd, 2007 1:55pmI just don't believe 100% tax rates would bring in no revenue. Sure there would be massive tax evasion, and others would stop working, but some taxes, somewhere would be paid.
chris
October 4th, 2007 1:03pmIt's trivially true that there is a Laffer curve. The question is: are we at the point on the curve where tax cuts would bring in more revenue or less? This is a difficult question requiring careful analysis. But no politician or columnist seems to want to offer it. Both Polly and the right-wingers she decries prefer hot air and arm-waving instead. Which is one of many reasons why so many of us feel nothing but contempt for the political class.