Magazine
Latest Issue

Taxing more from the rich is difficult. This is how to do it 

Well-intentioned proposals for a fairer system can fall at practical hurdles. But these two reforms really would help us repair a broken economy

Illustration by Ian Morris

The problem of how to pay for the war arose, as Keynes wrote, because war is inflationary. War brings a massive increase in incomes relative to supply available for civilians. The pandemic is deflationary: it forced massive cuts in spending and mass unemployment. Whatever you may hear from your Chancellor on Budget day, therefore, the problem is not “how to pay for the pandemic.” It is how to restore the economy on just and sustainable terms.

That task includes getting to grips with the vast inequalities, instability, precarity, disillusion and despair of the entire neoliberal epoch, now savagely…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect