What she did do was redistribute the burden of taxation downward, cutting top income tax rates while raising consumption taxes, which fall most heavily on low incomes. Her downfall came with the poll tax, a
drastically regressive tax — the same amount for everyone, regardless of
income — that was too much even for her own party.
And what that means is that her truest heir in America is … Bobby
Jindal, the not-so-whizzy whiz-kid governor of Louisiana, who proposed scrapping his state’s income tax and replacing it with sales taxes.
....
But strange to say, it’s not just Acela riders who hate this idea; so
do the citizens of Louisiana, who disapprove by 63 to 27 percent.
Jindal’s own approval has collapsed, so he’s having his own poll tax
moment.
Bobby will be so proud. Who knows but that Krugman's "tribute" might push Bobby's poll numbers up a bit?
I see by today's paper that Her Majesty the Queen will be attending the funeral. I look forward to hearing the Queen's English rendition of "I never could stand the old witch, but the proprieties must be observed."
ReplyDeleteI believe it's the first PM funeral the Queen has attended since Churchill's. Some are calling Thatcher the peace-time Churchill. I don't think so.
DeleteEven the slickest politicians can get too big for their britches; glad to see Krugman has pointed the finger at this dunce.
ReplyDeleteI confess I had a, "Who would ever have expected...?" moment when I read Krugman's post, but the comparison is apt.
DeleteThis mean he'll be changing his hair style?
ReplyDeleteThatcher's hairstyle was mesmerizing in its stiffness, but Bobby could use a little hairspray.
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