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This is the Tom Hartman program.

Welcome back. So let's trust the Prime Minister of the United Kingdom has now backed down on her

doing away with the 45% income tax bracket for the morbidly rich in the United Kingdom.

I'm not even sure it's the morbidly rich. I mean, as people making over 150,000 a year

that which would be, you know, the merely well off, I suppose. But in any case, she has said,

okay, we're not going to do it. Give up.

And the markets have rewarded the pound. It's back up. It's gone up substantially.

She's, you know, this tax rate scrappy on top tax rate would not have caused that much money,

but it was kind of the principle of the thing. I really think that what we're seeing here,

I mean, keep in mind, Margaret Thatcher began this madness in a big way,

being the first national leader to fully, officially, enthusiastically, and explicitly embrace neoliberalism

that what we are seeing now is the death of neoliberalism.

You know, she is also, you know, in addition to saying that she was going to cut that top tax rate

in order to essentially pay for it, to pay for that top tax rate, she was going to do what

Republicans don't do. You know, the two Santa Claus theory here in the United States specifies

...