Tax Policy stealing extra billy through bracket creep.

A report from the NZ Institute of Economic Research shows that Cullen's refusal to adjust tax brackets means he is scalping Kiwi's of an extra $1 billion un-necessarily.

Don't forget that one of Helen's famous pledge card promises when the Government introduced the 39c rate for incomes over $60,000 would be that it would affect only 5 per cent of taxpayers.

But last year nearly 12 per cent of taxpayers were in the top bracket, and they collectively contributed over half the income tax take.

In order to compensate for inflation between 2000 and 2006 the threshold up to which the 15 per cent rate applies, now $9500, would have to be raised to $11,300.

Cullen has to go, and he can take the witch with him. 

 

 


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  • NZfreelander

    I support some new Taxes, mainly for truckies who need to pay more for the use of the roads (they only paid 56% you know) however the number of taxes we have is outrageous and Tax cuts in certain areas are need, however in the petrol area maybe not because there is the small problem of running out of oil (which no one can deny) and the gobal warming threat (which people are still debating, hey who cares about the anti smacking bill, we'll all be dead anyway) however when business taxes force NZ business off shore, then things need to change. One major problem is NZ position in the world. I have one question, could the government still spend as much as it does, with tax cuts if it owned companies that made large profits and what is wrong with the government owning companies? Im sure a rightie will explain the evils of the "red" till then Im going to do my homework.

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