Sunday, October 09, 2022

Conservatives usually get away with tax cuts, but this time, in United Kingdom, that markets got so nervous the conservatives had to backtrack

Looks like UK politics is backing away from the idea of unaffordable tax cuts now that the financial markets are spooked. Seems like conservatives often get by with murder. Maybe that's a strong word. This time, however, they backed down on that idea.

Here in US, even our crazy conservative politics doesn't seem to be pushing Federal tax cuts. They seem to be talking local tax cuts, however, here in Washington State. The conservative minority in our local state politics is unhappy that we have a surplus. We have a good "rainy day fund" here in Washington State. In this state, (2022) the state Republicans noticed, no tax cuts in the budget adopted by majority Democrats.

Meanwhile the federal government has a huge debt on paper that seems to always be addressed with new "created" money. At some point, tax cuts sound like total lunacy. Meanwhile the bill for bailing out Florida and South Carolina, not to mention Puerto Rico is tremendous.

Maybe they shouldn't rebuild in such vulnerable areas? Retreat to more density on higher ground.

No comments: