Truss to Tax: Despite Criticism, British Prime Minister Pushes Forward
British Prime Minister Liz Truss must not only stick to her pro-growth economic agenda but also go further by implementing a virtual flat tax early next year, despite criticism from those who oppose her policies.
The jeers that greeted Britain's Prime Minister Liz Truss' minor tax cut proposals are a clear sign that many of today's policymakers and commentators are out of touch with what is needed to improve the lives of ordinary people. Instead of coming up with ideas that will make a real difference in people's lives, they are content to sneer and criticize from the sidelines. This is not the kind of leadership we need in today's world.
Theresa May's decision to call a snap election was a huge miscalculation, and her government is now in a very precarious position. But instead of retreating, I believe that May should double down by instituting a virtual flat tax. This would be a bold and controversial move, but it would also be a huge boost to the economy and to the British people. It would show that the government is serious about getting the economy moving again, and it would send a strong message that Britain is open for business.
I believe that hard times will eventually lead other governments to follow the example set by Truss. After 2024, I believe that even the United States will be forced to adopt similar policies in order to survive economically.