Libertarians often claim that if there were no or lesser taxes, the rich people would make up for social services with their charity money (I know, I’ve been one).
City AM today reports that the president of Chartered Institute of Marketing organized a charity bash for his friends, directors of marketing of such companies as Virgin Media and Barclays. There was free champagne and chocolates. Together, 140 guests have raised a staggering sum of… £5400. That amounts to £40 per person.
On the same page there’s a bill for three hedge traders amounting to £740 for champagne and some lamb chops.
Last week there was an editorial which claimed there’s no point giving tax cuts and rebates to the poor because they would only spend it on groceries, and it doesn’t drive economy forward. This week, we have news that Tesco has the lowest results in 20 years, while Louis Vuitton, Dior and Hermes fare better than ever. For some reason, the Tesco news seems to worry everyone more. I thought groceries don’t matter for the economy?
Overheard on tube: ‘Yeah, we had a pet lizard in our class. We named him Jimmy – for Jimmy Choo shoes’