taxes

Finally a Labour party policy we can agree with…cutting taxes…oh wait it is UK Labour not the Labour party in NZ.

George Osborne should cut income tax in next week’s Budget to kick-start Britain’s economy, the shadow chancellor tells the Daily Telegraph.

In an interview with The Daily Telegraph, Ed Balls insists that a cut in the basic rate of income tax — funded by a temporary rise in borrowing — would ultimately pay for itself as it would spark economic growth.

He says “something must be done now” as Britain is facing an economic depression “like the 1930s”.  Read more »

Imagine a 40 per cent marginal tax rate

In the hope of raising £3.3billion by 2018, Mr Osborne announced he would limit the size of the increase in the personal tax thresholds.

Currently, everyone can earn £8,105 without paying a penny of tax. For the next £34,370 they earn they pay income tax of 20 per cent.

This means that once they have a salary of £42,475, they would pay 40 per cent income tax for every additional pound they earn.

Quite why you would stay in England paying for bludging ferals to breed in their Council houses to get hit with a 40 per cent marginal rate at around NZ$80k I do not and never will, understand.

Sam Morgan has a deluded view of the world at the best of times.  You know this when even Trevor Mallard has to point out the obvious to you.

First up Sam astutely tweets

But then his solution is daft.  So daft even Mallard can see it.

Problem with this is that Mallard wants a capital gains tax (as does the Morgan’s).  That will not make homes easier to purchase either.

Another example as to why Labour should not be allowed near the Treasury benches again and why Sam Morgan needs to be told to stay out of politics.

Homepaddock makes a very good point.  Everyone is in favour of a cleaner, greener New Zealand.  No one seems happy to discuss if they want to pay for it.

The survey didn’t say if it asked respondents if they would be happy to pay for these incentives, nor if they were already doing what they could to support clean industries and technologies.

Saying they support incentives is along way away from paying for them and given how few of us actually pay net tax a good proportion of recipients wouldn’t be expecting to contribute themselves.

A very long way.

ᔥ NewstalkZB

Len Brown looks set to campaign on taxing Aucklanders more. Len Brown seeks to make Auckland the world’s most livable city but is actually setting us up to be the world’s most livid city. Looking after his mates with cushy deals, profligate spending on the V8s and massive rates hikes are making us all livid, now he wants to ramp up the anger by taxing us to drive on roads we have already paid for:

Auckland’s mayor is confident planned transport projects for the city can be delivered.

The projects include a second harbour crossing and the inner city rail link.

Len Brown’s announced three funding options he’s seeking more information on – congestion and network charges, regional fuel tax, and additional carpark charges.

He says he was voted in with a mandate to sort out Auckland’s transport problems.

He says it’s critical to go for the best option with the best technology.

Mr Brown says the council hopes to take a funding proposal to the Government in a year’s time.

Mr Brown also had a mandate to hold a referendum on Maori seats but somehow doesn’t feel obligated to deliver on that.

Our fat bloke is dead set useless.

Cactus Kate asked me to grab this video for her on capital gains tax.

Richard Prebble was at Backbenchers on Wednesday and showed up the crippled campaign manager even though he wasn’t in the panel. They asked him about Hone and the oath and Prebs delivered and then later they asked him about capital gains tax and Prebs showed he has still got it.

“If you could tax your way to prosperity the Soviet Union would have won the Cold War” and;

“Taxes are like acorns… they grow..when the Labour party brought GST in it was 10% and it was never going to be increased and it’s now 15%” and;

“When income tax was introduced all the politicians said it was only going to be on the wealthy and of course now it’s on all of us”.

Rounded off with the grand finale:

“You have Capital Gains tax and it will be on your family home, I’m telling you”.