Austerity Is a War on Prosperity
By Fred E. Foldvary (Progress Report)
“Austerity” is a policy of reducing beneficial government spending and raising harmful taxes. The taxes that have been increased in the name of austerity have been on goods, wages, value added, and the profits of entrepreneurs. The spending cuts are often on the infrastructure that make the economy more productive, or on the services that the poor depend on: education, medical services, housing, and food aid.