TWENTY five right wing ruling class economists have worked out the way to revive the dying capitalist economy, and it is, while continuing the hammering of the workers and the poor, to get rid of the 50p tax rate for the rich.
These right wing economists say that this massive tax cut for the rich, while everybody else is being put on the bread line, will boost growth and get capitalism out of its crisis – as if the bourgeois super-rich produce any value at all when in fact they are a massive burden on society!
Chancellor Osborne agrees with them. Osborne after admitting that his economic forecasts for the UK have had to be revised downwards as the crisis deepens, has said that the 50p rate on earnings over £150,000 is only a temporary measure that was introduced by Labour.
In a show of good faith with the rich, he has asked the Inland Revenue to investigate whether the 50p rate is an effective means of raising tax revenue, since the lion’s share of all Treasury taxation obviously comes from the workers and the poor.
However, he is obviously frightened of repealing the measure, at the same time as the working class and the middle class are being robbed, and forced to make huge sacrifices in order to pay the bill for the crisis of capitalism, which the rich bankers and bosses have presided over.
The working class is paying for saving the banks, while the state supported bankers vote to give themselves bigger bonuses. With the banks about to go under once again, the working class is due to be raided again and again to keep the bankrupt banking system afloat.
Families have to pay a VAT of 20 per cent, students have to look forward to paying back £9,000 a year tuition fees, while the rapacious Tories are on the brink of privatising the NHS and abolishing the Welfare State replacing it with the ‘Big Society’ workhouse.
The ‘Big Society’ is an attempt to return to the 19th and first half of the 20th centuries, when the super rich presided over an ocean of misery without even a ripple of conscience.
It is more than obvious that the Tories are seeking to recreate a society where there are only two classes the super rich and the super poor, where youth who rise up are treated with the utmost savagery, and where the poor are keen to work for a few pennies.
The working class and the youth will not accept huge tax cuts for the rich, while the workers, the middle class and the poor are being strangled, on the grounds that it is the rich that create wealth and therefore must be made the richer, while the poor pay their bills.
In fact, tax cuts for the rich cannot resolve the crisis of capitalism. The pronouncement of such a policy reveals the ambition of the ruling class to return the working class and the middle class to the days of Charles Dickens when the bosses were the masters and dealt ferociously with the poor.
Workers reject the ‘Big Society’ and will not stand by and watch the rich get richer while the poor get poorer, as the public services are replaced by bourgeois charities.
There is only one way to deal with the death agony of the capitalist system and that is to bury it as quickly as possible through a socialist revolution.
This requires the building of the WRP and the Young Socialists, the revolutionary leadership of the working class, to organise a general strike to bring down the coalition government in order to expropriate the bosses and the bankers, and to bring in socialism and a nationalised and planned economy.
Those who seek to cut the taxes of the rich, and at the same time rob the poor, are sowing the wind and they will surely reap the whirlwind.