Full transcript of the Corbyn - Andrew Neil Interview
https://blogs.spectator.co.uk/2019/11/full-transcript-jeremy-corbyn-grilled-by-andrew-neil/
A few comments THREAD

No new apology from Corbyn over antisemitism smear campaign is good but he refuses to fight back. The Chief rabbi Andrew @afneil went on & on about is despicable. Sadly, Corbyn is determined to just keep taking it on the chin from creeps https://twitter.com/aaronjmate/status/1199326231440822275

Neil then moves on to rehash a typical right wing scam- pointing out that the rich pay the highest share of the incomes taxes. But the more unequal before-tax incomes become the more that's the case. For example .....

if 1 person received 99% of all income that 1 person would pay almost all the income tax the government receives! Would we say that 1 person is overtaxed? Andrew Neil would. A rational person says that person's pre-tax income share is grotesquely out of whack.

Andrew Neil then moves on to say that if rich people leave the UK (outraged at Corbyn's policies) the government will be left without a tax base - which he notes the rich disproportionately supply.

Let's assume the rich ppl Neil worries about leave & take "their money with then" (which would not be THAT easy) - & leave a huge hole in aggregate demand & tax base. What they'd actually be doing is creating space for the government to fill the gap without risk of inflation

A big hole in aggregate demand is filled by SPENDING money & easy for government that can issue its own currency. It really only needs to tax to ensure inflationary pressures do not build up &/or for redistribution, discourage some types of behavior

Of course if you say this to right wingers they squeal "ah printing money! runaway inflation! Weimar Republic! Venezuela!" But you can't have it both ways. Is the concern the very rich will take a huge ton of money out or that the government will put too much back in?

Much of the rest of Neil's interrogation comes from the same deceptive one-sided (& pro-rich) way of looking at the economy. He likes to point to pensions (typically the only way most people will EVER receive any form of investment income (interest).

But for the vast majority of us, your working years are where you earn the bulk of your income. In a much equal society you are better able to put away money & prepare for retirement. Moreover (and Corbyn did make this pt) the services you get from the government are crucial -