“Thousands marched in central London Saturday to protest against British government austerity programs and spending cuts … to win attention to the plight of the poor. … The event is intended to vent outrage, albeit peacefully, over the Conservative government’s plan to slash millions of pounds in public spending to address the deficit, which ballooned after the nation rescued its troubled banks during the 2008 financial crisis. … Demonstrators argue the public is being punished for a crisis it did not cause.” (Click here for story.)
Who looted the banks? Who got the money? Not the poor. So why should the poor pay for it? The Bank of England, like other central banks across the globe, has created massive amounts of new money to deal with the financial crisis. Who’s getting that money? Not the poor. So why not balance the budget (if indeed it need be balanced) by taxing those who get the money? The rich bankers, landlords, corporate bosses, and shareholders? Wouldn’t that be fairer?
Photo: England’s fiscal savior