The TUC talks bollocks. Again
YES, it’s the TUC meeting again so obviously we’re going to have a report out or two that spout bollocks about what’s been happening to the economy. This year’s entry is a doozy though: the most charitable interpretation of it is that the TUC employs economists who really, really do not understand economics.
And no, I don’t mean all this neoliberal stuff about no regulation, or letting banking rip. Nor all tyhis social democracy stuff about redistribution and the value of free childcare. No, I mean as in not even understanding the basic numbers.
The report is here and here is Brendan Barber wittering about it.
Very simply they’re saying that the percentage of the economy that ends up in the worker’s pockets is falling. And that this is bad, M’Kay? The percentage is falling, they’re right on that, and it may or may not be a bad thing.
For the TUC is implying that the reason that the workers’ cut is falling is because the b’stard capitalists are taking it all in profits. Something which, well, how blunt should I be about this? Isn’t true shall we say?
You can see what has happened to the various shares here. The profit share, that amount taken by the b’stard capitalists, is the same as it was in 1980, the year the TUC are measuring from. So the fall in the workers’ cut hasn’t gone to those b’stards then.
What has happened is that taxes have gone up: this is largely the rise in VAT rates since 1980. So that slice of the wrokers’ cut has gone off to the b’stards in government instead then.
Which is, I think you’ll agree, rather different from the impression the TUC report gives us.
Leaving us only with the question, so, who are the real bastards around here then?
Photo: Attendees applaud as Brendan Barber General Secretary of the TUC addresses a rally at the NIA Birmingham today.
Posted: 11th, September 2012 | In: Key Posts, Money Comments (2) | TrackBack | Permalink
