Thursday, October 19, 2006

Tax cut affordability

This snippet from the CIS report "Why tax cuts are good for growth"
is too important to leave "isolated" on Kiwiblog

One could lower the corporate, top and middle rates to 30% and the lower-middle rate to 18% for just $3.15 billion per annum

This one statement helps to reveal the Left wing rhetoric for what it is; inflamatory and empty.
Their defensive cries of tax cuts requiring service cuts are just not true; even Michael Cullen has admitted to there being "only" $3 billion (of the $11 billion surplus) that could be attributed to tax cuts. And this $11 billion surplus is after his ferriting away $19 billion in "unallocated" spending.

And it further debunks that tax cuts are for the rich at the expense of the poor and middle class.
Show me a middle class household that wouldn't greatly benefit by a 14% reduction in their taxation rate.

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