Tax And More Tax

[Keys]

Heard talk of a tax cut to stimulate spending.

[Perry]

Is that a question or statement?

[Keys]

Questions are usually followed by a question mark Perry.
And I should say, my questions are followed by question marks.

[Perry]

O.K. Thanks. Sometimes the rules of gramma get
overlooked at a keyboard-with-typist-in-haste.
(E.g. Apostrophes and commas.)

From whence came this murmur of tax cuts?

[Keys]

^^^ Murmur came from Newstalk ZB interviewing the National Finance Spokesman. Although the word spokesperson is a PC word, it does have the word "son" in it which is gender specific so I use that word with some trepidation.

[Monsterbishi]

Heard talk of a tax cut to stimulate spending.

I'm picking tax cuts, they're the easiest way to buy votes immediately prior to the election and the responsibility for the disastrous side effects can be brushed off afterwards.

[Perry]

History May Repeat Itself

I'm picking tax cuts, they're the easiest way to buy votes immediately prior to the election and the responsibility for the disastrous side effects can be brushed off afterwards.

The same tactic was employed by Labour, long ago.

In 1957, Labour promised a one hundred pounds* income tax refund to every working man if it was elected. The bribe worked. Labour was elected, but the country was nearly sent broke, as a consequence.

Nordie's** Black Budget followed, soon after. (See items listed below.)

At the next GE, Labour was then consigned to the political wilderness, as a reward for shafting "the working class."

In New Zealand, the term Black Budget refers to the government budget of 26 June 1958, in which Minister of Finance Arnold Nordmeyer increased taxes on beer, tobacco, cars and petrol.

---

* Somewhere between 12 and 14 thousand dollars, in 2020 terms.

** Nordie= Arnold Nordmeyer, Labour's Minister of Finance.

[klauster]

Imagine it - first they destroy the economy and decimate our net worth with the most draconian lockdowns next to China, then they tax what's left of our assets at the very time we're all struggling financially. Words fail me.

The society is divided by super rich, hopeless poor and all between. The middle class and related businesses are the majority of tax payers but shrinking under socialism also as you can see managing Covid-19. The problem with socialism is that it eventually runs out of other people's money.

[Perry]

The problem with socialism is that it eventually runs out of other people's money.

But by the time that happens, those who did not / would not / could not see it coming are irreversibly trapped.