Tuesday, January 25, 2011

ZenTiger Labour pledge to attack the middle class

Well, I predicted it. [and here] Remember how National dropped the income tax rates IN EXCHANGE for putting up the GST rate? Well, when Labour come in, the income tax rates go back up and the GST rate stays the same. They throw in a tax free threshold to appeal to the low incomes, but it, in socialist reform terms, is pathetically low (5K) and is only going to be introduced in "stages". Blimey, such conviction. At least he's held off doing GST exemptions for certain items.

Labour on its own looks unlikely to win the next election, but with the magic of MMP could find itself in the tax and spend seat under a coalition of all the minor parties: Elderly suffer tax shock

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