3 Jul


Trickle down economics photo 53-Graphic_zpsiozlropw.jpgAll kinds of statistics get thrown at us, usually involving inconceivable huge sums of money. If we took the time to research them we’d find they all amounted to one thing, not only here in the UK but in every first world country on the planet.

Our nation’s treasury has got to balance its books and those in charge of doing the balancing don’t want to have to lose out. After all, when you’re wealthy you want to stay that way, and part of being a Tory (conservative) is to be wealthy. It’s almost mandatory.

Most of the population isn’t really wealthy although quite a few are tricked into believing the only way to future prosperity is the Tory way. It’s not true, of course, but easily believed because, after all, aren’t the folks telling us this mostly as rich as Croesus and won’t we be the same if we follow their example?


If we follow their example we reckon that we’ll end up on a level playing field, but the sods we run on won’t be edged with gold. It’s obvious really. You only really get embarrassingly rich by diverting little bits from everyone who isn’t, and funnelling it into your bank account, and if we’re all the same that can’t be so easily done – or am I missing something?

Back in the 1980s Ronald Reagan and Margaret Thatcher in their separate fiefdoms got the idea that if you loaded the richest people with even more money then some of it would trickle down and maybe land in the pockets of the poorest. So they cut taxes at the top end. For themselves and their chums.

It was a crap notion and didn’t work because people aren’t like that, and anyway it’s the most offensive thing to tell a population of paupers. But neither Reagan nor Thatcher thought there was much wrong with offending those less fortunate than themselves and were happy to espouse the virtues of trickle-down economics. It tended to work like this: taxes were cut for the rich who have bank accounts in tax-free havens where they could squirrel their money away leading to greater inequality between the haves and the have-nots leading to more borrowing by the poor leading to the economy slowing down as they default, finally leading to slower growth.

But the worst element of it was the notion that money trickling down from overflowing pockets just might benefit the poor. It’s not at all pleasant being told you can take the scraps off someone else’s table, or starve. It divided society even more into the haves and the have-nots.

But in the UK that didn’t matter. The Prime Minister declared that there was no such thing as society anyway and proceeded to prove her point by having a personal vendetta against the mining industry among several other vital elements of our economy, like steel.

Miners may have believed they deserved a bigger slice of the cake. After all, they risked their lives every day that they worked underground yet those who owned the cake rarely risked anything at all. And that’s a fact. Mining accidents, underground explosions etc. killed and maimed many, many men whilst the Prime Minister with the vendetta barely squeezed a pimple and not a penny from her pocket trickled down to anyone.

But that was and still is the Tory way. There’s still an economic crises, as a nation we don’t earn enough. And why might that be? Because the woman in charge several decades ago destroyed industries in order to prove a personal point that I’ve never understood. We’re suffering still – at least, the poor are.

Because it’s they who will find their budgets squeezed further by a Government that was elected by a minority, and all because of gross incompetence by an earlier government, in the 1980s.

And will somebody explain why, when that earlier prime minister died, we had to fork out over three million pounds to bury her?

It just doesn’t make sense, it didn’t then, though I was glad to see her go.

© Peter Rogerson 03.07.15


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