political commentator * author * publisher * bookseller * radio presenter * blogger * Conservative candidate * former lobbyist * Jack Russell owner * West Ham United fanatic * Email iain AT iaindale DOT com
Thursday, October 14, 2010
Quote of the Day
"He's going to help me terminate the budget deficit."
David Cameron welcoming Arnold Schwarzenegger to 10 Downing Street
Cringe-worthy and easy to attack given Arnie has overseen a deterioration of California's fiscal position to the extent they face the state equivalent of bankruptcy!
All the emphasis is on debts, and none on the paucity of assets.
If Britain tolerated wealth as do most other countries, our debts would not be hurting as badly. Get rid of IHT or at least halve it. Stop driving private wealth out of the country, and our debts might not need terminating quite as urgently.
To debts that are too high, the answer is not merely less of them. The better answer is having increasing wealth to offset.
California has huge debts but also huge wealth and wealthy individuals who enable Arnie to swagger around with his pockets empty.
It is Britain's disconnected financial culture which sees debt as good and fair, and at all times necessary, but wealth, because it falls unequally across the population, as bad. So what! At least we would not be so bust as we are if we tolerated wealth.
If more people owned houses outright and were wealthy without debt, prices would not collapse as fast as they do in a slump. Less people would be forced sellers of assets.
Governments always get into debt. They are congenitally irresponsible. Private people are families are far better recipients and holders of long term wealth, which benefits the whole country by keeping us creditworthy.
Cameron should not terminate debt, but terminate Britain's inability to perceive wealth as a social benefit to all of us. He should start by halving the rate of IHT.
Iain, after yesterday's grouch about the Beeb ignoring PMQs and Lady T's birthday, why are you seemingly ignoring Lady T's cancellation of her jelly and icecream, or Dennis MacShane's kicking out the Labour Party (for the moment)? Even the nasty evil BBC are reporting those stories..
Iain, after yesterday's grouch about the Beeb ignoring PMQs and Lady T's birthday, why are you seemingly ignoring Lady T's cancellation of her jelly and icecream, or Dennis MacShane's kicking out the Labour Party (for the moment)? Even the nasty evil BBC are reporting those stories..
“Middle Britain. I need your clothes, your boots, your motorcycle, your pension and your child benefit if I’m going to sell the ‘all in it together’ line.”
California's projected budget deficit for 2010/11 is $19.9 billion. It has tripled since Arnie took charge of the state.
ReplyDeleteThat's not a Quote of the Day, it's a Cringe of the Day.
ReplyDeleteCringe-worthy and easy to attack given Arnie has overseen a deterioration of California's fiscal position to the extent they face the state equivalent of bankruptcy!
ReplyDeleteJeez, he's even more populist in government than in opposition.
ReplyDeleteAll the emphasis is on debts, and none on the paucity of assets.
ReplyDeleteIf Britain tolerated wealth as do most other countries, our debts would not be hurting as badly. Get rid of IHT or at least halve it. Stop driving private wealth out of the country, and our debts might not need terminating quite as urgently.
To debts that are too high, the answer is not merely less of them. The better answer is having increasing wealth to offset.
California has huge debts but also huge wealth and wealthy individuals who enable Arnie to swagger around with his pockets empty.
It is Britain's disconnected financial culture which sees debt as good and fair, and at all times necessary, but wealth, because it falls unequally across the population, as bad. So what! At least we would not be so bust as we are if we tolerated wealth.
If more people owned houses outright and were wealthy without debt, prices would not collapse as fast as they do in a slump. Less people would be forced sellers of assets.
Governments always get into debt. They are congenitally irresponsible. Private people are families are far better recipients and holders of long term wealth, which benefits the whole country by keeping us creditworthy.
Cameron should not terminate debt, but terminate Britain's inability to perceive wealth as a social benefit to all of us. He should start by halving the rate of IHT.
Iain, after yesterday's grouch about the Beeb ignoring PMQs and Lady T's birthday, why are you seemingly ignoring Lady T's cancellation of her jelly and icecream, or Dennis MacShane's kicking out the Labour Party (for the moment)? Even the nasty evil BBC are reporting those stories..
ReplyDeleteArnie going to No 10 is the big story?
Iain, after yesterday's grouch about the Beeb ignoring PMQs and Lady T's birthday, why are you seemingly ignoring Lady T's cancellation of her jelly and icecream, or Dennis MacShane's kicking out the Labour Party (for the moment)? Even the nasty evil BBC are reporting those stories..
ReplyDeleteArnie going to No 10 is the big story?
“Middle Britain. I need your clothes, your boots, your motorcycle, your pension and your child benefit if I’m going to sell the ‘all in it together’ line.”
ReplyDeleteHey, wait a minute.. who is Grant Tucker?
ReplyDelete