Wednesday, December 10, 2008

Robbing from the poor to pay the rich

National has finally unveiled the fine print of its KiwiSaver plans, and it includes cancelling the $40 a year fees subsidy and removing the tax-free status of contributions above the new 2% maximum. The effect on the latter will be to increase taxes on people using KiwiSaver, by up to $400 a year. Where will the money go? Straight into tax cuts for the rich. So National's first act as government, the very first bill it passes, will be to rob from the poor to pay the rich. You don't get any more National than that.