Britain Cruises Toward a Tax Iceberg
Prime Minister Keir Starmer in early July caved to the biggest rebellion he's faced to date from lawmakers in his own Labour Party. They resisted small tweaks to eligibility for disability benefits, which since Covid have covered a growing number of people who aren't disabled in any traditional sense.
Scrapping the welfare reform, as Mr. Starmer did, will cost some £3 billion a year. This followed a string of spending handouts Mr. Starmer made to Labour interest groups such as generous pay increases for public-employee unions. Mr. Starmer is facing a £20 billion budget hole, but there's been no backbench rebellion in Parliament about that.
If no one wants to trim the British state, someone will have to pay for it. Investors seem skeptical about chipping in, to judge from elevated yields on U.K. government bonds. Mr. Starmer's cantankerous backbenchers think 'the rich' can be taxed more heavily, preferably via a wealth tax. One idea popular on the left is a 2% tax on assets above £10 million.
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an hour ago
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Advertisement It lays bare how Trump has leveraged his second term to pad his family's profits in a variety of ways, including overseas development deals and promoting cryptocurrencies, despite growing questions about ethics concerns. 'You have to look at this as yet another attempt by Donald Trump to monetize his presidency,' said Leonard Steinhorn, who teaches political communication and courses on American culture and the modern presidency at American University. 'In this case, using the trip as a PR opportunity to promote his golf courses.' A parade of golf carts and security accompanied President Trump at Turnberry, on the Scottish coast southwest of Glasgow, on Sunday. Christopher Furlong/Getty President Trump on the links. Christopher Furlong/Getty Presidents typically vacation in the US Franklin D. Roosevelt went to the Bahamas, often for the excellent fishing, five times between 1933 and 1940. He visited Canada's Campobello Island in New Brunswick, where he had vacationed as a child, in 1933, 1936 and 1939. Reagan spent Easter 1982 on vacation in Barbados after meeting with Caribbean leaders and warning of a Marxist threat that could spread throughout the region from nearby Grenada. Presidents also never fully go on vacation. They travel with a large entourage of aides, receive intelligence briefings, take calls and otherwise work away from Washington. Kicking back in the United States, though, has long been the norm. Harry S. Truman helped make Key West, Florida, a tourist hot spot with his 'Little White House' cottage there. Several presidents, including James Buchanan and Benjamin Harrison, visited the Victorian architecture in Cape May, New Jersey. More recently, Bill Clinton and Barack Obama boosted tourism on Massachusetts' Martha's Vineyard, while Trump has buoyed Palm Beach, Florida, with frequent trips to his Mar-a-Lago estate. 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He played golf at Turnberry in 2018 before meeting with Russian President Vladimir Putin in Finland. Trump once decried the idea of taking vacations as president. 'Don't take vacations. What's the point? If you're not enjoying your work, you're in the wrong job,' Trump wrote in his 2004 book, 'Think Like a Billionaire.' During his presidential campaign in 2015, he pledged to 'rarely leave the White House.' Even as recently as a speech at a summit on artificial intelligence in Washington on Wednesday, Trump derided his predecessor for flying long distances for golf — something he's now doing. 'They talked about the carbon footprint and then Obama hops onto a 747, Air Force One, and flies to Hawaii to play a round of golf and comes back,' he said. On the green... Christopher Furlong/Getty ... and in the sand. Christopher Furlong/Getty Presidential vacations and any overseas trips were once taboo Trump isn't the first president not wanting to publicize taking time off. George Washington was criticized for embarking on a New England tour to promote the presidency. Some took issue with his successor, John Adams, for leaving the then-capital of Philadelphia in 1797 for a long visit to his family's farm in Quincy, Massachusetts. James Madison left Washington for months after the War of 1812. Advertisement Teddy Roosevelt helped pioneer the modern presidential vacation in 1902 by chartering a special train and directing key staffers to rent houses near Sagamore Hill, his home in Oyster Bay, New York, according to the White House Historical Association. Four years later, Roosevelt upended tradition again, this time by becoming the first president to leave the country while in office. The New York Times noted that Roosevelt's 30-day trip by yacht and battleship to tour construction of the Panama Canal 'will violate the traditions of the United States for 117 years by taking its President outside the jurisdiction of the Government at Washington.' In the decades since, where presidents opted to vacation, even outside the U.S., has become part of their political personas. In addition to New Jersey, Grant relaxed on Martha's Vineyard. Calvin Coolidge spent the 1928 Christmas holidays at Sapelo Island, Georgia. Lyndon B. Johnson had his 'Texas White House,' a Hill Country ranch. Eisenhower vacationed in Newport, Rhode Island. John F. Kennedy went to Palm Springs, California, and his family's compound in Hyannis Port, Massachusetts, among other places. Richard Nixon had the 'Southern White House' on Key Biscayne, Florida, while Joe Biden traveled frequently to Rehoboth Beach, Delaware, while also visiting Nantucket, Massachusetts, and St. Croix in the U.S. Virgin Islands. George H.W. Bush was a frequent visitor to his family's property in Kennebunkport, Maine, and didn't let the start of the Gulf War in 1991 detour him from a monthlong vacation there. His son, George W. Bush, opted for his ranch in Crawford, Texas, rather than a more posh destination. Advertisement Presidential visits help tourism in some places more than others, but Engel said that for some Americans, 'if the president of the Untied States goes some place, you want to go to the same place.' He noted that visitors emulating presidential vacations are out 'to show that you're either as cool as he or she, that you understand the same values as he or she or, heck, maybe you'll bump into he or she.'
