A radical analysis of the IMF/ECB four year plan and call to action

andrew
Wed, 24 Nov 2010 14:11:57 +0000
Capitalist crisis, Household tax, IMF, Water tax, Economy, National, Newsroom, News

Today the government announced the details of the four year plan required as part of the ECB / IMF ‘bailout’ of the banks. There will be five billion worth of new taxes and 10 billion worth of cuts under this so called ‘National Recovery’ which in reality will take 10% out of GDP. As we show below almost all these costs are being dumped on workers, particularly low paid workers, the very sector that gained little or nothing during the boom years. the richest 1% are left with most of their legal tax dodges in particular the ability to avoid paying tax at all if they spend 6 months on holidays out of the country.