Comments by "Michael RCH" (@michaelrch) on "" video.

  1. There was another great example of how terrible big unfunded tax cuts are in real life. Last year in the UK, the government announced large tax cuts for those on the highest incomes which put a huge hole in the budget. It was done, purely ideological exactly for all the reasons that neoliberals love. It completely tanked the economy overnight. Interest rates went up 3%. The currency fell 15% against the dollar. The markets lost confidence overnight and the Prime Minister and Chancellor were both gone within six weeks. So if even the capital markets hate this policy then why the hell is anyone still pushing it?
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