{"id":652300,"date":"2017-01-05T04:10:11","date_gmt":"2017-01-05T04:10:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/05\/austerity-measures-are-not-the-way-to-go-so-lets-tax-the-rich\/"},"modified":"2017-01-05T04:10:11","modified_gmt":"2017-01-05T04:10:11","slug":"austerity-measures-are-not-the-way-to-go-so-lets-tax-the-rich","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/05\/austerity-measures-are-not-the-way-to-go-so-lets-tax-the-rich\/","title":{"rendered":"Austerity measures are not the way to go, so let\u2019s tax the rich"},"content":{"rendered":"

<\/a> Take your blood pressure meds before reading this one: Austerity measures have never worked and will not save the economy,<\/strong> self-styled economic expert Medhat Nafe\u2019 writes for Al Shorouk<\/a>, arguing that the austerity measures often prescribed by the \u201ceconomic elite\u201d only work to further the crisis for the general public who have to face high inflation rates, higher taxes, lower public spending, and reduced purchasing power. Meanwhile, the advocates of austerity measures are given tax breaks and other incentives that allow them the luxury of rallying behind policies advocating frugality. \u201cThey forget that their target growth rates are tied to consumption that are bound to go down under such conditions,\u201d Nafe\u2019 says. Advocates of austerity, he adds, know that they could bail Egypt out of its current predicament with a one-off tax on their fortunes<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Take your blood pressure meds before reading this one: Austerity measures have never worked and will not save the economy, self-styled economic expert Medhat Nafe\u2019 writes for Al Shorouk, arguing that the austerity measures often prescribed by the \u201ceconomic elite\u201d only work to further the crisis for the general public who have to face high […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9411],"tags":[72,9410],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-652300","post","type-post","status-publish","format-standard","hentry","category-on-deadline","tag-enterpriseam","tag-on-deadline","wpautop","entry"],"acf":{"mongo_id":"4e2689af-49a3-460c-8b84-521c83421c38","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[652283],"teaser":"","voice_url":""},"yoast_head":"\nAusterity measures are not the way to go, so let\u2019s tax the rich - 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Following the standard pattern of stories on the economy immediately following\u2026","rel":"","context":"In "EGYPT IN THE NEWS"","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/12\/1430.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571397,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/11\/maait-signals-austerity-measures-if-covid-19-crisis-persists\/","url_meta":{"origin":652300,"position":4},"title":"Maait signals austerity measures if covid-19 crisis persists","author":"enterpriseam admin","date":"11 May 2020","format":false,"excerpt":"BUDGET WATCH- Austerity measures in the cards if crisis continues into FY2020-2021 -Maait: The government could cut back on spending in its FY2020-2021 budget if the covid-19 outbreak persists after July, Finance Minister Mohamed Maait said in a meeting with President Abdel Fattah El Sisi and Prime Minister Moustafa Madbouly\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/5\/98.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596273,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/22\/why-isnt-egypts-economic-growth-translating-into-lower-poverty-rates\/","url_meta":{"origin":652300,"position":5},"title":"Why isn\u2019t Egypt\u2019s economic growth translating into lower poverty rates?","author":"enterpriseam admin","date":"22 August 2019","format":false,"excerpt":"Why isn\u2019t Egypt\u2019s economic growth translating into lower poverty rates? 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