We won’t borrow for super, but we will borrow for tax cuts? COME ON!
I’ve always felt a wee bit queasy about putting the future retirement needs of the country into the stock market, it seemed to me like Uncle Cullen may as well pop down to the racetrack and punt it all on a hose called’ Muldoon-likes-to-think-big’ and blow the lot so I have a certain amount of sympathy for holding off on payments, but sweet Christ folks, if we are looking to hold off payments for something as crucial as the retirement of an entire generation, a situation that will force us to pay more later (English quips there ain’t no free lunch when he makes that point) then we sure as hell should stop the April Fools Day tax cuts immediately. If borrowing for a retirement scheme isn’t sustainable in the current economic meltdown then tax cuts that benefit the wealthy sure as hell aren’t sustainable either.
Drop the tax cuts that benefit the wealthy first and then let’s discuss suspending the super.
Key not guaranteeing ongoing tax cuts
Prime Minister John Key "believes" tax cuts for 2010-11 and will go ahead, but he stopped short of guaranteeing them today. Mr Key made the comments while being asked about Air New Zealand chief executive Rob Fyfe's comments earlier questioning whether tax cuts were the best way to stimulate the economy.
Good to see National are listening to Tumeke, dump the April Fools Day Tax cuts as well Mr Key - be honest with NZers and tell them how bad it really is going to be, they need to hear that the bed of debt they've made with their consumer consumption culture has to be addressed, no matter how painful the reality for some.