Friday, 23 May 2008

We agree these aren't tax cuts ...

Yesterday at NOT PC we suggested that yesterday's Budget didn't truly deliver tax cuts -- instead what it delivered was only a partial inflation adjustment for the last nine years of overtaxing, and it was delivered with a barrel of pork we're all gonna have to pay for by government borrowing.

Liberty Scott however disagrees that is was an inflation adjustment.  "It is not an inflation adjustment at all," he says in a comment here. "I used the government's own figures --  it has, at best only half addressed inflation. People are still paying more in real terms in income tax than they were in 2000."

Check Scott's calculations and see his assessment of the barrel of pork that Cullen just uncorked at Scott's post: Cullen Really is Still Taxing You More.

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