Now, THIS is a Decent Budget! [updated]
I’m very pleased to see a budget released today that frees New Zealanders instead of shackling them further. I’m talking of this one:
FOR IMMEDIATE RELEASE
Libertarianz Alternative Budget 2010
"I'm pleased to present a real alternative to the tax-and-spend budget that National will present today," Libertarianz leader Richard McGrath said today.
"Unlike other political parties, Libertarianz believes your money belongs to you," explains McGrath. "That's why our budget is designed to slash taxes and let you keep far more of your own money."
"National is making a big deal about finally offering you a tax cut this year. But keep in mind that National's income tax cut will be much reduced by an increase in GST. This isn't a tax cut, it's a tax shuffle. Libertarianz policy has always been and will always be to cut taxes as fast and as hard as possible."
"Libertarianz will make the first $50,000 of income tax-free immediately. This means that the average New Zealand household, with an income of $68,000, would keep an extra $403 per week, going a long way to offset rising food, electricity and fuel prices."
"We will also immediately scrap GST, knocking $27 off a $250 grocery bill and ten dollars off the price of a tank of petrol."
"The government will say they can't afford this – but it's not their money – it's YOURS. You have the right to spend your money however you wish. Libertarianz is pro-choice when it comes to your money."
"Of course you can't cut tax without cutting government spending – and we're happy to oblige. Education, health, and superannuation are far too important to be left in the hands of politicians."
"We will allow people to spend as much or as little of their money on these as they wish. It is up to you to decide how much to spend on your family's healthcare, your family's education and your family's future."
"Schools and hospitals will be given back, as shares, to all New Zealanders. All other state assets not required for the essential functions of government (law and order, and defence) will be sold. The proceeds will be used to fund superannuation and healthcare for the retired, along with residual obligations such as ACC, invalids benefits. The DPB will continue for three years."
"With the Libertarianz budget, the churning of money through the government's sticky fingers will be almost eliminated by the tax-free threshold. A flat tax on income over that $50,000 threshold of 25%, reducing 5% per year for 5 years, will fund a smooth transition. After 5 years, no more revenue will collected from the citizenry by coercion or force. The government will have to ask you nicely if they want your money."
McGrath concludes, "It's enough to make you vote Libertarianz!"
POSTSCRIPT: Questions? You have questions?
Fear not: Your questions about the 2010 Libz Alternative Budget will be similar to questions about previous Libz Alternative Budgets, which all seek to wean New Zealanders from the state teat.
So here are some answers to frequently asked questions about a previous model.
UPDATE: Matt Nolan at The Visible Hand of Economics gives the Libz budget the standard mainstream critique:
“…far too extreme – even if solely on efficiency grounds.”