Vox Political: Government Raiding Pensions of Middle Income Groups

Yesterday, Mike over at Vox Political posted this piece at http://voxpoliticalonline.com/2016/01/18/george-osbornes-plans-could-see-savers-lose-a-third-of-their-pension-in-tax-changes/ reporting that the government is closing a tax loophole for middle income savers. This could result in some of them losing as much as a third of the pension savings.

Mike has mixed feelings about this, as on the one hand it is a tax loophole, and so needs to be closed. On the other hand, Osbo certainly isn’t going for the super rich, who owe far more. He raises the question of whether it’s Osbo’s class bias showing.

Of course it is. It’s part of the ongoing destruction of the middle class by the rich in America, Britain and right across the world where the doctrine of free market capitalism and globalisation has been uncritically swallowed. I’ve posted up this very evening a video with the Pulitzer Prize winning American journalist, Chris Hedges. In it he describes how in private the rich have absolute contempt not just for the working class, but also for the middle class. And despite all the rhetoric of ‘meritocracy’ and creating opportunities, the Tories have been kicking away the ladder allowing people from the lower classes to rise socially since the days of Maggie Thatcher.

And let’s have no illusions. This is what free market capitalism is all about. Marx described it in The Communist Manifesto way back in 1848. If you read it, he states clearly that modern capitalism is forcing the lower middle class into the ranks of the workers. It wasn’t quite right. Later on there emerged gradations in the working class, which broke up its uniformity, which identify more with the establishment. Like the ‘aristocracy of labour’. And then opportunities for the working class to find a place within capitalism were provided by Anthony Crossland and his belief that the modern welfare system and subsidies to industry preserved capitalism by giving workers the necessary money to buy companies’ products, and so keep them afloat.

That was all destroyed by the Thatcherite Revolution. And as a result, everyone except the rich is becoming poorer, despite what the Economist and Telegraph yell at people.

This won’t necessarily result in growing support for Labour. The middle classes still, by and large, identify their interests with the rich, and prefer to kick downwards rather than punch upwards. Many of them – though probably not all – will swallow the lie that it’s all necessary to pay off the debt caused by ‘high-spending’ Labour. They’ll support even more right-wing policies, directed against the poor, the disabled and the unemployed, because they have swallowed the lie that they’re responsible for their poverty, as opposed to the virtuous, self-reliant middle class, who must now suffer because of their profligacy.

It’s time this lie was finally dealt a mortal blow, along with the Conservative’s policies, which are destroying the country and people’s lives and livelihoods.

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One Response to “Vox Political: Government Raiding Pensions of Middle Income Groups”

  1. sdbast Says:

    Reblogged this on sdbast.

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