Monday, 7 January 2008

Who's Counting?

Michael Cullen is counting. He is counting the extra 1.7 billion dollars he has collected from tax payers. Each of us have paid more than $500 extra in personal taxes in 1999. In fact the money has been primarily collected from 150,000 people who have moved in to the top tax bracket of 39c in the dollar ("bracket creep" if you want the jargon).

I am counting on Labour honouring its 1999 promise that only 5% of taxpayers should be paying 39c in the dollar - the equivalent of an income of $79,000.

But then counting on politicians honour us probably not wise.