Tiger confused

“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?

  • http://www.nightcitytrader.blogspot.com Elijah Lineberry

    Mallard’s solution is to raise the company tax rate to its highest level since 1986????

    This chap is clearly mad; these fellows surely cannot be serious….hmmmmmmm….actually, I think they probably are.

    What is striking about the intellectual and ‘patriotic’ (in the sense of wanting to make your Country wealthier) mentality when comparing our Labour party and the Australian government.

    Rudd and Swan, for all their faults, are working on ways to cut taxes to stimulate further investment and wealth; our fellows want to destroy what little remains!

    Oh how times have changed…

  • Seán

    Top form, Whale, top form.

  • old timer

    The feathers are clogging up the duck pond that serves as mallards mind once again.

  • Hagues

    Dear Mr Duck,
    Please go to the 2011 election pledging to raise company & trust tax to 36%.
    Sincerely,
    Hagues

  • http://twitter.com/danvds @danvds

    just out of curiosity does anyone have the history on why we have higher tax rates for those who work hard / smart and have more income? I know roughly but am a bit lost – when I went to school (ok not that long ago) but 10% of a 100 was 10 and 10% of 1000 was 100 which would mean if I was earning 1000 I'd pay more than the guy on 100 but it would be fair… ? percentages etc… ?

    why do we rob our productive members of society to support those who are not? and whilst I may be wrong on this many of those who earn a decent wage do things like have medical insurance, vehicle insurance, etc etc so that if we find ourselves in a situation of need we can support ourselves – we pay for this AFTER the government has run off with a huge chunk of it to pay for pen pushers in hospitals (because pen pushers make the surgery better – honest)

  • Steve

    This morning the mad Duck's post on Tax had 6 comments. 4 were deleted and one comment made by himself. Clever Duck. One man conversation.

  • pdm

    I thought your `mate' Nash was now the official Labour Finance and Taxation spokesman for Labour. He has a couple of post on Tax at Red Alert..Is Cun(t)liffe now only number 3 in the Labour Finance Portfolio pecking order?

  • jabba

    pdm .. I think Cun(t)liffe is a shattered man .. poised to challenge Goof then realised he didn't have the numbers

  • The Gantt Guy

    @danvds – I think the idea of “progressive” taxes(i.e. stealing more from the productive and intelligent to pay for the indolent, lazy and stupid) was first proposed by one of the Marx brothers – Karl, the hero of the left.

    This type of nonsense from the Duck is why so many kiwis (surprisingly, not the indolent, lazy and stupid) now reside in such places as Sydney, Melbourne and Hong Kong.

    Australia has an appalling tax system. They steal the most from the wealthiest (the top rate is 47 CPD on earnings over $180K), they still have a little rort called Stamp Duty and their deductions system come tax time is an exercise in financial gymnastics. HOWEVER…incomes are so much higher (and some of the deductions, such as income protection and medical insurance are so much smarter) that it is still well worthwhile for those who are not indolent, lazy or stupid to move there.

    The fact is, New Zealand is the most beautiful little third-world paradise in the world. It is a true socialist nirvana (I mean, a $15 per hour minimum wage FFS) and a great place to be indolent, lazy or stupid. It’s bloody difficult to be productive, interested or (you bastard rich pricks) wealthy (defined, by the IRD, as anyone who earns over $70,001 per annum).

    Please, Punchy The Duck, convince the Pro Tem Leader and your party’s actual finance spokesmuppet to go to the 2011 election on a platform of increasing corporate & trust rates to 36. Please.

  • Pingback: Tweets that mention Tiger confused | Whale Oil Beef Hooked | Gotcha! -- Topsy.com

  • Pingback: eucghtln

105%