The Futility Monster

He'll pointlessly derive more enjoyment out of your resources than you

Will Lib Dems Get The (Tax) Credit?

Posted by The Futility Monster on July 5, 2010 @ 10:22

"Thanks, Obama!" said the US electorate. Not.

I know we’re not America, but across the pond there is something that maybe we should pay attention to.

The stereotypical image of America is that taxes are lower than they are in Europe. I believe that is still very much the case. And last year, they went even lower. Democrats, foolishly in my view, agreed to include masses of tax cuts in the stimulus programme in order to secure a smidgen of Republican votes in the Senate.

And yet… has any of it made any difference to the prospects for the Democrats?

Of course not. Electorates are notoriously ungrateful. You give ’em something, and then they say: “I want more”.

Despite US taxes being their lowest for 50 years…

A Gallup Poll last month found that 48% thought taxes were “too high” and 45% thought they were “about right.”

The Democrats are, at the moment, on course for some pretty big losses this November. Some speculate they could lose control of the House, and several Senators. Sure, the US economy is still in grave difficulty, with its inability to create jobs at the moment, but you would have thought the electorate would at least give the Democrats some credit for the record low taxation?

Apparently not.

And that’s the worrying part. Expectations on government are generally so high, and opinions of it so low, that when they actually do anything for the people they get nothing but continued flak anyway.

The trend could be even worse in Britain. The Lib Dems right now appear to have gotten the blame for the VAT busting Budget. How else do we explain the party’s slump in the polls? Meanwhile, the Tories are riding high at over 40%. What credit there is to be given out seems to have gone in their direction. Isn’t that a bit… unfair?

When the next election comes, and the rises in the tax allowance are a mere memory, who do you think will get the credit? Will the electorate actually even factor it into how they’re going to vote, given the American experience?

The way we seem to be getting the raw end of this coalition deal from the voters doesn’t fill me with hope that implementing our core policy from the last election is going to get us the rewards we arguably deserve.

People are just too cynical.

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One Response to “Will Lib Dems Get The (Tax) Credit?”

  1. Neil Craig said

    This appears to be simply the federal budget excluding state taxes which is not really comparing like with like.

    Something which is giving American voters some worries is that while taxes may have been cut federal spending is 166% of receipts.

    PS I thought you had already agreed that tax cuts were better for the economy than government spenmding?

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