Tuesday, June 7, 2011
Who really benefits from Neo-Liberalism? It is not us.
Who really benefits from Neo-Liberalism?
"The way National and ACT like to tell it, their NeoLiberal economic policies (tax cuts for the rich, service cuts for everyone else, labour market "flexibility" for employers, and privatisation for foreign investors) make everyone better off. Reality tells a different story. Via the Dim-Post, here's some data showing who really benefited from the Revolution:
"(Source: A. B. Atkinson, Andrew Leigh, "The Distribution of Top Incomes in New Zealand", ANU Centre for Economic Policy Research Discussion Paper No. 503, November 2005 [PDF]; the spike in 1999 is due to tax changes, BTW, as the wealthy changed their arrangements to avoid Labour's new top tax bracket)".
Shows the real reason Neo-Liberal policies like cutting top tax rates, dropping wages and allowing unrestricted capital flows are continually pushed on us by the greedy and the stupid.