John Oliver dissected Britain’s trickle-down tax cuts for wealthy British Prime Minister Liz Truss.
Truss’ plan controversially calls for massive tax cuts mostly for the wealthy, on the assumption it will eventually boost the economy for all. It’s basically trickle down bullsh*t again.
Immediately after the announcement of these tax cuts, UK financial markets were thrown into chaos. The pound hit a record low against the dollar and the Bank of England had to step in to prevent the collapse of pension funds. To make matters worse, Truss then disappeared from public view for days until a UK newspaper ran with the front page “Missing Have You Seen This PM?”.
This was a truly spectacular start to the Liz Truss era. She somehow managed to upset the UK market in less than a month, disappearing and enraging her own party.
The Republican solution to inflation is already being attempted in Britain, where they are already threatening to oust Liz Truss on a rail. Trickle-down economics is not an answer to the problems of the current economy.
The difference between the Tories and the Republicans is that the Tories are willing to throw their radicals out of their party. Republicans are uplifting those who push the terrible ideas forward, while Conservatives in Britain are trying to eliminate them.
Oliver was right. Trickle-down is nonsense and definitely not the answer to current economic questions.
Mr. Easley is the managing editor. He is also a White House press pool and congressional correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. His thesis focused on public policy with a specialization in social reform movements.
Awards and professional memberships
Member of the Society of Professional Journalists and the American Political Science Association