BRITISH LABOUR PM VOWS TO CUT TAXES - so... er um, how can Obama raise them!?!?

HAYEK, REAGAN AND THATCHER ARE STILL WINNING:

PUTIN ANNOUNCED HE WOULD CUT TAXES LAST WEEK.

NOW BRITISH LABOUR JOINS IN: BBC: VAT 'to be cut in rescue package'

The government is widely expected to cut VAT by 2.5% in Monday's pre-Budget report, as part of an emergency package aimed at kick-starting the economy.

Business secretary Lord Mandelson told BBC One's Andrew Marr show action was needed to stop a "very deep recession".

... Vince Cable, for the Liberal Democrats, said any tax cuts should be permanent.

Planned giveaways

The specifics of Chancellor Alistair Darling's recovery plan will remain under wraps until Monday.

But widespread press reports suggest VAT could temporarily drop by 2.5% to 15% - the lowest level allowed under EU law - in an effort to get consumers spending again.

However, it is not known if the cut would come into effect before Christmas.

Taken together with other planned giveaways, it would mark the biggest shift in Labour's economic policy since it came to power in 1997.

• I HOPE OBAMA IS LISTENING!

• WE NEED TO CUT ALL TAXES.

• ELIMINATE THE CAPITAL GAINS TAX.

• IF OBAMA RAISES ANY TAXES NOW, THEN MONEY WILL JUIST TAKE FLIGHT TO NATIONS LIKE RUSSIA AND THE UK WHICH ARE CUTTING TAXERS!

• WE NEED TO CUT TAXES, AND GIVE TAXPAYERS VOUCHERS IN STEAD OF GIVING CORPORATIONS BAILOUTS.

REPEAT: VOUCHERS, NOT BAILOUTS!

TAX CUTS AND VOUCHERS - NOT "REDISTRIBUTION" AND BAILOUTS!