Bernard Hickey had a great piece in the Herald on Sunday in which he analyses the Treasury's latest Monthly Economic Indicators. The piece included some shocking graphs which showed the effects of the government’s tax cuts for the rich on revenue:
and on the government's fiscal balance:
National calls this "good economic management". Hickey calls it something else:
It is clear now that the Government has effectively cut the income tax rate and paid for it by borrowing money overseas, in large part from China. It is an act of economic treason and generational selfishness when a government has decided an already-wealthy part of the population deserves higher incomes paid for by loading foreign debt on future generations of taxpayers....and we'll be paying for it for generations to come, through debt and crippled public services.
But then, that's what National does: pillage the state for the benefit of their rich mates (and then use the mess it makes to justify more pillage). They did it in the 90's, and they're doing it again now. And the only way to stop it is to vote the fuckers out of office.
