I can't help but wonder how the NewLabs would have handled it. The problem with blatantly 'soaking the rich' to raise money is that they have a tendency to leave the country, taking their wealth with them. It's been tried before and it doesn't work. The last thing the economy needs is another drain.

The main reason the country is broke is that we are exploiting foreign labour by importing cheap goods to create the illusion of personal wealth for the masses, and producing next to nothing ourselves. This has been encouraged by both parties (and their voters, by buying said goods) for at least 30 years. (As has VAT..)

I don't pretend to know the solution and I certainly don't support any of the 'parties', but it's obvious to me that if there is more money going out than is coming in, sooner or later we're all in the shit. And yes, the 'poor' will suffer first, whoever is in power. They always do, one way or another. I don't particularly like it, but it's a fact of life - one of the uglier consequences of human nature.