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At long last

by Whaleoil on September 30, 2008

Editorial: Overdue, but tax cuts timely – When an initiative is an inordinate time in the making, there is usually a muted reception. Two cheers, then, for the Labour Party’s long-awaited tax cuts, which take effect today. At very nearly the conclusion of three terms in government… [NZ Herald Politics]

Today is the day that Michael Cullen will go off and quietly drown himself. He surely must if is true to his beliefs.

Make no mistake, Labour doesn’t want you to have tax cuts, Michael Cullen especially doesn’t want you to have tax cuts, and there is no guarantee that if re-elected he won’t renege. He has already done that once.

But how far is your tax cut going to go?

Not far. Power prices look set to increase 12% for many customers next month. This comes on top of a 48% increase in domestic prices over the last five years. Fuel prices alone rose 28 per cent in the year to July.

So you taxcut will get you a block of cheese, or a quarter a tank of gas, but more likely it will get you nothing of the sort as the financial catastrophe that Michael Cullen said would never hurt New Zealand is set to increase your mortgage rates or rent.

You can’t trust Michael Cullen with the economy, the only thing you can trust him to do is renege on tax cuts.

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  • Glutaemus Maximus

    Cullen is a good as Mr Gordon Brown in the UK.

    Last 1/4 numbers were the worst in 16 years.

    Then he (both) asks to be trusted with the economy in rough times?

    Well actually the similarity is spooky.

    They both got their respective countries in deep do do.

    Trust? Remember when Cullen stated the day before the election was called that there was no problem with the NZ economy?

    History teachers are worse than accountants to drive an economy forward.

    Be great to see the Government books soon!

    On the question of super funds.

    Logic dictates that you have 25% in Cash deposits, 25% in shares, 25% in other government gilts, and the remainder split down on tactical options.

    How hard is that?

    In that theory there would have been a small surplus! Why the pension pots are taxed is beyond me. That is defrauding the potential pensioners.

    True

  • Brian Smaller

    Whale – that smug prick Cullen could give me $100 a week tax cut and I wouldn’t vote for him.

  • vogan

    It is significant that the power increases are occuring in the South Island where the Labour Government and their Green allies cancelled project Acqua which would have increased generation capacity. If the South Islanders want to have white water rivers (and no lakes) and no power then they can have power increases and power cuts instead.