Labour and tax

With the obvious effect of reducing demand, Labour is quite right to say that "economically, now is the wrong time to increase taxes (Labour wary of being saddled with the old party caricature of tax and spend, spend, spend, 26/02/21). Displaying more economic nous than the Tories is essential if future elections are to be won, and debunking myths is a good way to start. There are plenty more, like the infamous Laffer curve, in need of critical analysis from Labour. Fair tax rises need not include those paying basic rates of income tax, no matter how strongly many of them are willing to contribute more as an "act of paying back to our NHS", as mentioned by James Johnson (Tax rises are no longer taboo. So who will dare put them up? 26/02/21). As well as rises in corporation tax in the future being necessary, Labour should be pledging future increases in income tax for all earners in the higher bands, as well as in capital gains tax, plus a windfall tax on companies who have profited massively because of the crisis. Debunk myths, by all means, but the need for people on average earnings to pay more when the rich pay far less than they can afford has to be addressed, too, no matter what the likes of Mandelson might sa