Quote of the week (reading between the lines edition)

Page 5 tonight’s Evening Standard (not online as far as I can tell) by Micheal Chessum, lead organiser of today’s student demonstration:

‘Our message to the Government is very simple; tax the rich to fund education’

Translation= We’re too cowardly to steal for ourselves so we want the government to do it for us.

On a more serious point, what these protesters fail to grasp is the role of prices in allocating scare resources. If a degree is free everyone will want one and so they will be worth less. If it costs £27,000 people will think twice about whether it is worth it.

2 responses to “Quote of the week (reading between the lines edition)”

  1. Interesting, what do they want to study for free? BA in History of Art?

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  2. Isn’t it relatively simple to demonstrate you cannot just “tax the rich”, in the first place they probably don’t have enough taxable income to fund education forever, and secondly, any rich taxed high enough simply escape the country and you lose the income outright.

    The bottom line is when there’s not enough tax collected, suddenly “the rich” gets redefined downwards, and eventually starts to mean anyone on median income doing ordinary roles, right now the 40% barrier covers such “well off and highly paid” people as police sergeants and senior nurses, the only logical next step is to define “rich” as meaning “employed”.

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