Man in a Shed: The public sector millionaires club

Socialism is good for some - for those who don't have to pay for it.

The Tax payers alliance has identified that every house hold int he country will have to pay up to £40k to fund public sector pensions over the next few decades.

Most shocking they have found:

8,500

retired NHS employees with retirement benefits of £1 million !!!
To add to the 3,500 civil servants with that money.

Wow - its good to be involved in government - crap to be involved in wealth generation or other work as your money will have to be taken from you to pay for the new ruling elite in this country.

No wonder people want to emigrate. ( There was a good article in The Times on Saturday about the fact that the skilled and professional middle classes are the ones leaving the country right now - my neighbours are off to New Zealand).

The pound in your pocket

"We used to think that you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candour that that option no longer exists." James Callaghan

“The trouble with theoretical economists is that they don't understand that when you have a deficit, you can only finance it by borrowing, and you've got to persuade people that it's worth lending money to you and that they'll get their money back... there's no way of escaping it.” Dennis Healey during the 1976 Stirling Crisis.

"Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens ... Lenin was certainly right. There is no subtler, no surer means of over-turning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." John Maynard Keynes, 1920.

"To preserve [the people's] independence, we must not let our rulers load us with perpetual debt. We must make our selection between economy and liberty, or profusion and servitude." Thomas Jefferson, President of the United States of America,1801-1809.

Inflation is taxation without legislation .. Milton Friedman