This is just incredibly fabulous from the GallMeister himself:
One of the underlying important themes that the Tax Justice Network and I have emphasised over the last decade has been the continual shift of the burden of taxation from capital onto labour. As if evidence were needed that this trend is continuing, this was the headline from an email that I received this morning from the OECD:
Of course, the situation varies from country to country. It is the trend that is important, and that is a continuing explanation for the crisis that our economy, and that of the world at large, faces. Growth without a rising share of labour income is not possible: inequality prevents it.
No, no, just let that sink in for a bit.
So, labour is being horribly oppressed as the tax burden upon it rises. This is being done by reducing tax free allowances on labour income, thus subjecting higher portions of total income to labour taxation.
That is what the OECD is stating and that is what the GallMeister is complaining about, yes?
And yet what is the case in the UK? Where the personal allowance has risen considerably (admittedly only to make up for decades of fiscal drag but still) thereby reducing the portion of total income that is subject to labour taxation? One of the implacable opponents of this policy being a retired accountant from Wandsworth currently resident in Norfolk?
Can you imagine what gall you must have to hold both positions at the same time? That the neoliberal lackey running spit dogs like myself are wrong for oppressing labour with ever higher taxation and also the spitlackey dog running neoliberals like myself are wrong for reducing the taxes paid by labour? The former by reducing tax free allowances and the second by increasing them?
Still, I understand such gall will be rarer in future as they’re going to surgically remove it.