Interesting to see you support flat tax systems. My understanding is that while they vary considerably, the impact on their introduction is as follows:
lower income - now pay less tax the rich - pay about the same as before middle income earners - pay more. Do you broadly support these outcomes? (My sources on this are from articles in the Economist.
If a tax rate goes down yet people are paying more it must be because they are getting richer. Yes I support everybody getting wealthier.
Perhaps too if people think that the tax system is fairer there is less tax avoidance. I support a fairer system that will encourage wealth creation which benefits everybody.
I have just posted the results of decades of progressive taxation in this country.
Interesting to see you support flat tax systems. My understanding is that while they vary considerably, the impact on their introduction is as follows:
ReplyDeletelower income - now pay less tax
the rich - pay about the same as before
middle income earners - pay more.
Do you broadly support these outcomes?
(My sources on this are from articles in the Economist.
If a tax rate goes down yet people are paying more it must be because they are getting richer. Yes I support everybody getting wealthier.
ReplyDeletePerhaps too if people think that the tax system is fairer there is less tax avoidance. I support a fairer system that will encourage wealth creation which benefits everybody.
I have just posted the results of decades of progressive taxation in this country.
For what it is worth I see a "flat income tax" as an essential step prior to the abolition of income tax.
ReplyDeleteWhich in itself is a prerequisite before the abolition of the consumption taxes.
"Michael from ok" NZ crrently has a flat (12.5%) consumption tax regime.
SG
Not in NZ with the introduction of a new tax from 1 April 2007 on overseas investments through managed funds.
ReplyDelete5% tax regardless of capital value adjustments and dividend payments.
This tax has been introduced before the Kiwi Super scheme starts.