Archive for May 29th, 2012
There is a thread that runs through the Henry Tax Review and the thinking of O’Dwyer and perhaps Bartos. It is that the state should take less out of the earnings of capital, earnings created by the labour of workers.
It may be this ‘tax capital less’ mantra is a response to a systemic problem, the tendency under capitalism of the rate of profit to fall. Cutting tax rates won’t address that threat to capitalism. Paradoxically it might increase it in the long term.