Wednesday, September 24, 2008

Politics-Election 2008

In my attempt to evaluate as fairly as possible, I have decided to check out the various party's web sites to see what the differences are. I am declaring here and now that I am a swinging voter.
Take tax cuts:
I went to Labour's site and found this:
"Labour’s tax cuts are responsible and fair to workers. We focused on the lowest rate so all New Zealanders benefit. Labour will do the right thing for workers, families, and the economy.
Labour’s personal tax plan will result in:
A new low tax rate of 12.5 per cent A lifting of the 21 per cent threshold by $10,500 to $20,000 A lifting of the 33 per cent threshold by $4,500 to $42,500 A lifting of the 39 per cent threshold by $20,000 to $80,000 And advancing boosts to working for families on 1 October 2008 By the third year of our tax cut programme, we will deliver $50 a week or more to around 50 per cent of all households.
A Kiwi family on the average household income of $72,000 – split two thirds/one third between two parents – with two children at primary school is almost $43 a week better off on 1 October this year – that’s equivalent to a 3.6 per cent increase in take home pay.
By full implementation of the tax package in 2011, that Kiwi family is almost $85 a week better off – the equivalent to a 7.5 per cent increase in their take home pay."

Then I checked out National's site and had difficulty finding their policy, but in one of the speeches I did find:
"One, we will institute an ongoing programme of personal tax reduction that will encourage hard work and help keep our workforce in New Zealand. This sensible, step-by-step tax programme is, I believe, even more important given the current economic conditions."

I recall someone in National promising $50/week tax cuts, but could not readily find this on National's site.

From the above, it seems to me that Labour's policy is more defined and out in the open.

If National do give a $50 tax cut, on top of the above Labour introduced cuts, then I would imagine a lot of people giving that some thought.

For myself, I would like more tax cuts, but this has to be balanced by the idea that if they cut taxes, this may result in a lower quality of defence/education etc.

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