Poorest are worst affected in destruction of western illusions
War has shattered illusions of the West
The three-week-old war that Vladimir Putin has waged against Ukraine has shattered the illusions on which the entire architecture of the post-1945 western order has been based. There are at least three such illusions: the democratic power of the United Nations, universal peace in Europe and the US belief that it was the world’s sole superpower following the collapse of the Soviet Union.
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Commentary: How to introduce a radical wealth tax
The Ukraine war is a human catastrophe. It is also an economic crisis. The real income loss will be the worst in 50 years. In the UK, the poorest households are hardest hit, exacerbating inequality. Despite modest help in the Spring Statement announced by Chancellor of the Exchequer Rishi Sunak on 23 March, most face draconian retrenchment, adding recession to inflation. A radical wealth tax is essential to shift the burden to those best able to bear it.
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Πηγή: omfif.org
