Tax cuts? We'll give you tax cuts!
I'm very pleased to see the Libertarianz release their own alternative Budget well ahead of Michael Cullen's tax-and-spend clunker. Leader Bernard Darnton presents the main points at Libz TV, and here's just some of the highlights to start you salivating:
- Michael Cullen grudgingly gives you back $20 a week after nine years in power. John Key offers $50 – eventually. Libertarianz will make the first $50,000 of income tax-free immediately. This means that the average New Zealand household, with an income of $68,000, would keep an extra $403 per week..."
- Helen Clark and John Key say no even to taking GST off food. Winston Peters says tinker with it. Libertarianz says get rid of GST immediately, knocking $20 off a $250 grocery bill and ten dollars off the price of a tank of petrol.
- "The government will say they can't afford this – but it's not their money – it's YOURS. You have the right to spend your money however you wish. Libertarianz is pro-choice when it comes to your money."
- "Of course you can't cut tax without cutting government spending – and we're happy to oblige. Education, health, and superannuation are far too important to be left in the hand of politicians.
"We will allow people to spend as much or as little of their money on these as they wish..."
"With the Libertarianz budget, the churning of money through the government's sticky fingers will be almost eliminated by the tax-free threshold. A flat tax on income over that $50,000 threshold of 25%, reducing 5% per year for 5 years, will fund a smooth transition. After 5 years, no more revenue will collected from the citizenry by coercion or force. Taxes will be voluntary."
"It's enough to make you vote Libertarianz!"
UPDATE: Lindsay Perigo says "Bravo!"
"It's especially gratifying to see the end of the loathsome GST, otherwise known as the ACT Party Tax," says Perigo.
"By coercive government fiat, GST adds twelve-and-a-half per cent to the price of everything. GST was the means by which Roger Douglas continued to expand the Nanny State (after its introduction, tax revenues rose by 6 points as a percentage of GDP) and grind down the smelly proletariat while lowering taxes for his crony-phony capitalist mates (libertarians, of course, favour genuine capitalism, the kind that is not in bed with politicians).
"The measures advocated here by Mr. Darnton put meaningful tax cuts on the table for the first time. They would return hundreds of dollars a week to the pockets of their rightful owners, their earners.
"With the demented Global Warming chooks coming home to roost in the form of skyrocketing food and energy prices, the Libz prescription couldn't be more timely.
"Just what the doctor ordered. Even Dr. Cullen should order it," Perigo concludes.