Mar 4, 2013

Robin Hood or Sheriff of Nottingham?

It is the fashion to proclaim a Robin Hood budget. Is the Sheriff of Nottingham wearing Lincoln green?

UK 2012

Budget 2012: are we really all in this together? | UK news |
Nick Clegg claims this year's budget is the 'Robin Hood' budget, taxing the rich to pay the poor.

In fact the opposite could be true.

Richard Exell: This Was Not a Robin Hood Budget - But the Sheriff of Nottingham Would Have Been Proud of it!

Australia 2012

Robin Hood budget will give Abbott no merriment

India 2013

Budget 2013: No change in tax rates or slabs - The Economic Times:

"Most taxpayers are disappointed by P Chidambaram's Robin Hood Budget. While the super-rich are fuming over the surcharge on incomes above Rs 1 crore, the middle income taxpayer is unhappy that the Budget has neither raised the basic exemption nor raised the tax slabs. Even the tax saving limit under Section 80C, which was fixed in 2005, has not been revised. And low-income taxpayers in the 10% slab feel the tax credit of Rs 2,000 is not sufficient to take care of inflation in the past one year."

Budget 2013 is neither for people nor for growth, says Sitaram Yechuri, Polit Bureau Member, CPM - The Economic Times

Singapore 2013

Analysts laud Singapore govt’s ‘Robin Hood’ budget - Yahoo! News Singapore

One reader, Platoon5 ,wrote,
"do u actually know the story of robin hood or not...wat kind of title u r saying???its a miss match totally!!!"

Leong Sze Hian � Budget 2013: Real wages will increase? Disposable income drop for some?

Reverse Robin Hood

Whatever each country's budget claims to be, it is actually reverse Robin Hood in practice.
See here for an example of how regressive the tax systems are.

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