Over the weekend a friend of mine on Facebook posted a picture of Margaret Thatcher, with the quote “The problem with socialism is that sooner or later you run out of other people’s money”. The ensuing tidal wave of boorish lefty nonsense was thoroughly predictable and utterly depressing
Leftists are determined to caricature Thatcher, that she becomes the root of all evil. This is nothing new. Most people have no idea what she achieved. That she oversaw one of the biggest and broadest expansions of wealth in this country’s history. That she made sense of our industry by getting rid of the insane levels of subsidy, (in places more heavily subsidised than the USSR). Today British industry stands on its own two feet and is competitive. Our country was on the brink of economic ruin when she came to power and we were fighting the cold war. Yes she made mistakes, the poll tax springs to mind, but she was a complex woman and her legacy is just as complex as this modern country she helped to build.
All of this is being swept under the rug in favour of an idiotic neo-Marxism. And some people were even suggesting that Catholicism was anti-capitalist. Truly it is hard to know where to begin. Pope Francis has been railing against unregulated plutocracy. That is a perfectly reasonable target, it brings misery to millions in the developing world and is a terrific evil. It also isn’t what we have in the western world. Our free markets are very heavily regulated, our taxes are heavily weighted on the rich and big business (so much so it actually reduces how much people want to work and invest).
Our country can and should do better for the poor, ie take the poorest out of income tax entirely. The solution of the left is raising the minimum wage but that would only marginally help and leaves everyone not in work that much poorer due to inflation. Once again the solution of the left is hardest on the poorest. My parents were in favour of sales taxes. Not realising again VAT hits the poorest hardest. We need sound economists more than ever in this land to save us from the madness that already grips this country and will worsen under the nigh inevitable Miliband government.
So why does it say I wish I was a lefty at the top of this blog post? Well because the spectacular naivety was a sight to behold. I wish I could believe that the state can regulate wealth so that hard working people can get more (sadly virtually everything the state ever does to interfere with the market invariably makes life harder for the little guy). And I wouldn’t have to constantly tell virtually everyone I know on Facebook that they are wrong. And I wouldn’t feel so bad about being on sick benefit.