Nothing worse than flip-flopping inside of a fortnight. I guess either Truss has no confidence in her own economic foundation or just has no idea what she’s doing. As The New York Times reports, “Facing a mutiny of Conservative Party lawmakers, Prime Minister Liz Truss of Britain on Monday reversed plans to abolish the top income tax rate of 45 percent on high earners, a humiliating about-face that leaves her supply-side economic agenda in tatters and her grip on power uncertain. … But the reversal leaves Ms. Truss’s month-old government in flux, with a rebellious and newly empowered band of lawmakers in Parliament. Cutting taxes was the prime minister’s signature economic proposal; reversing course so quickly on part of her plan will raise doubts about her leadership.” No matter where conservatism resides, no matter the country or the degree, it always suffers from the same ignorance and impatience. Cut taxes and then figure out the economic consequences!
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