Wait!!!! What???? Portugal Socialists Promising A Tax Cut!!!!

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I don’t think the words carry such meaning as they used to.  That is left/right, socialist ……..

When I read the headlines, I thought, well, here’s Greece, except bigger.  But, then I read the story …

More growth, jobs: Portugal’s Socialists make big promises

LISBON, Portugal (AP) — Portugal’s main opposition Socialist Party is promising to deliver more growth and less austerity if it regains power in October elections.

The center-left Socialists have said they intend to abide by fiscal discipline rules governing countries sharing the euro currency. But party leader Antonio Costa says the center-right government of the past four years cut too deep after Portugal’s 78 billion-euro ($86 billion) bailout in 2011.

The Socialists said Wednesday they will boost the economy — and create around 200,000 new jobs — by temporarily lowering social security taxes. That, they say, will fuel an increase in private consumption.

Due to the lower tax, the budget deficit will fall below 3 percent of gross domestic product — a eurozone requirement — only in 2017 under the Socialists.

Uhmm …… what?

I’ve got a lot more to say about this, but, I’ve gotta run for a bit! 

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4 Responses to Wait!!!! What???? Portugal Socialists Promising A Tax Cut!!!!

  1. geran says:

    “…they intend to abide by fiscal discipline rules…”

    No, then they would not be Leftists.

  2. DirkH says:

    “by temporarily lowering social security taxes. ”

    TEMPORARILY. Lure employers into hiring people, then jack up the taxes. Stupid leftists. Why do they pre-announce their cunning plans these days?
    France and the PIGS (sans Ireland) have so ludicrous worker protection laws that nobody hires – you never get rid of the slackers again! In France the mayor will have to grant you the right to hire Joe Shmoe before you can hire him! PhD’s in France have NO chance of employment ever as the employer is REQUIRED to pay them better than the non PhD’s! As a Frenchman told me.

  3. Bruce of Newcastle says:

    Load of rubbish. They may reduce social security taxes a little for a while, but the corporate sheep will be so terrified of the socialists in charge they will go on an investment strike and will batter down the hatches for years.

    And if they reverse ‘austerity’ the already horrendous government debt load will explode and the whole country will go the way of Greece.

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