National has announced that it will charge ahead and deliver tax cuts to the rich regardless of the state of the government books - a grossly irresponsible move which will see future generations burdened with debt for the sake of today's greed. As for their reason - an appeal to "longer-term benefits", what benefits? Contrary to the right's propaganda, there's no real link between lower taxes and economic growth. Instead, the primary "benefit" of tax cuts is distributional: some people get a lot of money. As for who, unfortunately National's refusal to release detailed policy even four months out from an election prevents the sort of analysis I've done on Labour, United Future, and the BRT. But given their past performance, National's policies are more likely to resemble the latter than the former, with most of the benefits flowing to a tiny slice of New Zealanders (meaning their policy is really "giving someone else a tax cut"). As for the results, we have only to look at history to see who gains and who loses.
Meanwhile, while they're delivering to the rich, they'll also be screwing over ordinary people by introducing probationary employment, allowing small business owners to sack people without reason or consequence within the first 90 days of employment (incidentally allowing them to do an end-run around the protections of the Human Rights Act). Their stated purpose - boosting marginal employment - is bogus: unemployment is around the lowest it has ever been. Instead, its about giving employers unfair, arbitrary, and aristocratic power over their workers rather than making them follow a proper process. It's also about reducing Labour market mobility and the security of employment, both of which will drive wages down. And once again, the losers will be ordinary people - you know, the 95% of us who don't vote ACT and won't be benefiting from National's tax cuts. But the rich - those 5% National exists to serve - will be laughing all the way to the bank.
