Budget Day: Open Debate [update 4]

I know there are plenty of intelligent readers out there with plenty to say about all the new theft announced this afternoon, so let’s use the power of the internet to get your thoughts recorded here.

Which is to say, this is an Open Debate on the Budget.

Go to it!

UPDATE 1: Some good comments already from around the traps.

Liberty Scott: “Oh NOW I know why you voted for Labour National, David Farrar makes it clear it is about staying in power for three terms. Quite why you'd choose the blue team over the red team to keep implementing the red team's policies is beyond me.”

Cactus Kate: “Smile and Wave wasn't elected to increase taxes. If case studies [like Gooner’s] show in effect he has … then he will hear about it… So far it smells like the left hand robbing the right hand and dropping crumbs on the way.”

UPDATE 2: Alex Tarrant has a relatively neutral short summary of the major announcements in this Tax, Tax and Tax Budget.

My even shorter summary: Welfare benefits are up.  Taxes are up--except income tax & company tax, whose slight fall is more than outweighed by the increases in GST and tobacco, by removing depreciation, and by the imminence of the insane Emissions Tax Scam. 

And remember that election promise of tax cuts?  Fuggedaboudit!  Spending and borrowing is up, up, up. The total tax burden is now higher than it ever was before; yet this government is still borrowing around a quarter-a-billion a week just to keep it in profligacy.

UPDATE 3: Imperator Fish is carrying Budget 2010 live:

    “1:58pm: Bill English is looking fabulous in his trademark black suit, and the camera is adoring him.
2:01pm: English places the One Ring on his finger and begins speaking.
2:22pm:  English announces everyone will get a pony. Those on lower tax brackets will get dead ones.
[Read on for more]”

UPDATE 4: NBR’s Nevil Gibson recycles the government spin:

    “The government’s decision to go ahead with across-the-board income tax cuts and make a surprise drop in the corporate rate, even if offset by a rise in consumer taxes, show it's a world away from its predecessor, which saw tax as a means of sharing rather than generating wealth.
    “You could call it the ‘tall poppies’ budget, because it will benefit those who are likely to do most to lift New Zealanders’ living standards, reduce the government’s deadweight impact on the economy, and provide greater rewards to those who deserve it…
    “Today’s budget won’t provide any ‘step change’ in the economy [he sure got that right – Ed.]—but it will finally unwind some of [Cullen’s] more egregious drags on the economy, while also trying to keep government spending increases to a minimum during a time of recovery. For NBR’s full budget coverage click here.

More to come, no doubt.