“Tiger” Mallard has a post about taxation. He points us at the weasel explanation at the top of the site and then launches it a rather confusing tirade about tax, that ironically now sits above “Mangrove” Nash’s piece of stupidity on the page.
Firstly he admits that Labour made foreign ownership in our tax system worse. Quite what he means is, I suspect, beyond even him to explain. I fail to see how foreign investment in New Zealand is a bad thing and New Zealand countries buying, oh I don’t know….overseas airports, or breweries, or paper plants is somehow wonderful and good. With Globalisation you can’t shut your borders to foreign investment and then expect open access for our own countries. Labour or at least Tiger Mallard think that was where they made things worse.
Then he proposes a solution:
What is the answer? Eliminate the margin between company and top personal rates. You can do this one of three ways:
First, reduce top tax rates down to meet company rates. Second, increase company tax to the top personal rate. Or third (my preference) be fiscally neutral about it and get them to meet at about 36c and while you are at it put the trust rate at that level too.
That means Kiwis can foot it on equal terms buying our assets – it also means we have a tax effect neutral system for choosing the form a business takes – and that is a good thing.
No Tiger, dear, it isn’t a good thing. You have just decided to reverse Labour policy and at the same proposed raping new Zealanders pockets, their companies pockets and family trusts that much more. He has no evidence that his solution would be fiscally neutral he just runs off at the mouth. Finally he reckons having all the top tax rates, company tax and Trust tax at wonderful nirvana of 36%. The man is loopy.
I guess we can one thing at least. Tiger doesn’t own a company and never has, he doesn’t have any assets in a trust, and doesn’t have any money because the missus cleaned him out. All that paints him is an aging, angry, twat masquerading as an intellectual power house when it comes to finance and the reality is he is a drop-kick, broken-arsed loser.
Has he even bothered discussing this with Goff or “Mangrove” Nash?