Tuesday, May 20, 2008

National: Tax Cuts for the Top Earners

Idiot Savant over at "No Right Turn" explains how the National Party's tax cuts will be mainly for the top earners.
Mr English made it clear that them priority would be workers earning $60,000-plus - in particular those pushed into the top 39 per cent tax bracket by wage rises.
‘‘We need to keep faith with those people, that's our top priority,'' he told TV1's Agenda yesterday.

Anyone under $60,000 thinking of voting for National to get a tax cut might want to think about that.

I've said the best tax cut would be one that targets the people already having trouble making ends meet. Exempting the first $5000 from tax would benefit all tax payers, but also give the largest proportion of benefit to those on the lowest incomes.

National must still believe in "trickle down" instead of letting the lowest income earners keep more of their own money.

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