Comments by "Maria" (@maria8809ttt) on "Why are the Tories talking about flat taxes again?" video.

  1. The gold standard was in place when that was written.
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  2. One thing neither government nor voting can change is arithmetic. The reality that deficits are the simple difference between expenditure and taxes, and debt is nothing but the accumulation of deficits and surpluses. For those that politically believe the deficit is too large to servive already,from the introduction of a flat tax, an increased deficit would flow from this option. Further austerity measures would need to be implemented. A further increase in inequality would be inevitable. Is that what polatitions want? Is that what the electorate want.
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  3. The Laffer theorem was developed in the mid 1970s in the USA. It formed part of the Neoliberal Doctrine. It is now seen as obsolete and disproven in macroeconomics. You should read a paper by Paul Romer. Romer earned his PhD in economics in the 1980s at the University of Chicago, the temple of neoliberel economics, he provided a scathing attack of his own neoliberal doctrine. The paper was titled 'The Trouble With Macroeconomics. Romer describes mainstream macroeconomics as having been in a state of' intellectual regress... for more than three decades ' culminating in the obsession for so-called Dynamic Stochastic General Equilibrium (DSGE) New Keynesian models-which Romer describeds as' post real'-that lie at the heart of mainstream economics. These are highly complex and abstract mathematical models that attempt to explain aggregate economic phenomena, such as economic growth, buissness cycles and the effects of monetary and fiscal policy, on the basis of macroeconomic principles that have no bearing on macroeconomic reality, which the models erroneously assume to be governed by stable causal mechanisms. That is because the models in question rely on assumptions about human behaviour that belies the knowledge adduced by social scientists that actually study such behaviour (such as psychologists, sociologists, ect.
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