Tax revenues

[Old Greg]

It's very simple. We need a return to Keynesian economics. In a recession, you keep the economy afloat through massive public expenditure on vital projects (high speed rail links, perhaps). It can be easily funded with the large surplus you amassed in the good years oh hang on a minute we're screwed.

[HairyArsedBloke]

It's very simple. We need a return to Keynesian economics.

Sadly, that is what is most likely to happen.

[BrilloPad]

It's very simple. We need a return to Keynesian economics. In a recession, you keep the economy afloat through massive public expenditure on vital projects (high speed rail links, perhaps). It can be easily funded with the large surplus you amassed in the good years oh hang on a minute we're screwed.

We can either print money - or borrow it from sovereign funds. At end of WW2 borrowing wasa at about 250% of GNP apparently.

[expat]

How about an unearned income surcharge, so that income other than salaries and wages is taxed at a higher rate?

[Cyberman]

How about an unearned income surcharge, so that income other than salaries and wages is taxed at a higher rate?

As the value of a 15K annuity has fallen by 2K in just one month, that really makes sense after pensions have already been decimated by bank nationalisation and the collapse of the stock market. Not forgetting of course the tax credit stealth tax of 1997 and onwards, and the impending house price collapse.

[expat]

As the value of a 15K annuity has fallen by 2K in just one month, that really makes sense after pensions have already been decimated by bank nationalisation and the collapse of the stock market. Not forgetting of course the tax credit stealth tax of 1997 and onwards, and the impending house price collapse.

What, so taxes should reduce to compensate for the down movements in annuity and housing markets? Did nobody ever tell you that the value can go down as well as up?

[DimPrawn]

Yes.

They also said that "it was different this time"...

™