The UK Lib Dems announced today that, if elected, they will cut the amount of income tax paid by lower and middle-income individuals by £700 a year. Overall, the plan does not represent a net tax cut but a 'tax switch', being funded by closing loopholes for companies and slightly increasing taxes on wealthier individuals.

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Conservatives and Republicans are organizing "Tea Parties" across the country and sending tea bags to members of Congress to protest against "President Obama's tax increases" and government spending. No wonder it was them the ones who created the current massive deficit. But the funny thing about this "teabagging" idea is the notion behind it. These right-wing extremists believe that the Federal Reserve should be eliminated! They also seem to hate taxes just for the sake of hating taxes. Thi...
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 Our opinion:  We believe that David Cameron's decision to focus on Britain's massive debt is correct. While we usually support tax cuts, a tax-cutting agenda is not what the current British economy needs right now. A balanced budget is essential for a strong economy, not just tax cuts.  
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