Economist and LibertyWorks advisory board member, Darren Brady Nelson, has a few piercing comments on last night’s budget.
The former Republican President Ronald Reagan used to pejoratively refer to the Democrats in the 1980s as “tax-and-spend liberals” with a lower-case “l”. Last night Treasurer Scott Morrison in his 2017-18 Budget speech clearly earned the moniker for himself and the Turnbull Government of “tax-and-spend Liberals” with an upper-case “L”.
On the tax side of the ‘tax-and-spend’ ledger, there was a recycling of the “enterprise tax plan” which one can barely call a real tax cut with a straight face. The rest of the Budget’s tax initiatives were tax increases semi-disguised using such language as “levy” or 1984 double-speak as “reversing” and “reversal” of “savings”. Levies, for instance, were mentioned ten times. And not mentioned, of course, as removals or decreases.
On the spending side of the ‘tax-and-spend’ ledger, a … Read the rest