David Farrar at Kiwiblog has written an excellent post budget post on Labour’s extreme and greedy approach to taxes.
Check it out.
In eight years Dr Cullen has taken a Taliban approach to fiscal strategy. No one expects Labour to not spend more than National. No one expects Labour to give as big a tax cut as National would. That is why we have choice between parties. But to have $24.5 billion of extra tax revenue, and to refuse to give even 1% of it back let alone 10% or 20%. That is extreme.
It is the ideological equivalent of an ACT Government, not a National Government. An Act Government would probably have given back the entire $24.5 billion, and not increase spending by a single dollar. (Libertarianz members stop drooling). Labour doesn’t cut income taxes by a single dollar and spends it all. This is not mainstream economic management.