Larry Williams interviews Rodney Hide about ACT's new tax policy. (Interview begins at 38.20)
The policy includes removing the 39c rate and making the first $10,000 of income tax free thus giving every earner on the average wage a $50 cut.
This is a good start because it is simple and it is heading in the right direction. It will also widen the gap between benefits and low wage work and stop this silly business of taxing kids with paper rounds or part-time McDonald's jobs.
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5 comments:
Well the first $10,000 copies Libz, which is great, and getting rid of the top rate... well that has always been ACT policy, it was National policy until it was passed *sigh*.
Has flat tax evaporated again?
According to the interview we would "ideally have one tax rate."
More to be announced. Right now I don't know Scott.
The tax policy is excellent news. Congratulations to ACT for releasing it.
If only the Nats would muster the courage to do something similar. I'm entitled to dream, am I not?
Manolo, it is one of the reasons the Nats should not win an absolute majority. ACT has a chance to make a big difference to the next government if it can get solid support and take the courage to be more radical. Frankly if it isn't advocating flat tax (which wont happen but puts a stake in the ground towards lowering, flattening rates) there is no point.
Well the first $10,000 copies Libz,
Whether or not it copies the Libz or Aussie Labour, or Bismark, or Karl Marx it is a really really stupid idea. It makes the tax system much more progressive, rather than flatter!
So, libertyscott, at least you are yet another example of why state schooling doesn't even teach basic mathematics.
We want to reward enterprise and hard work right? Ideally that would be a flat 10,000 tax per person. Can't pay? Well that's your choice: the state's response will be an immediate summary judgement seizing property. If you really cannot pay, the state (ideally your local area) will house and support you with room and board - in exchange for work.
This system worked very successfully in the UK up until the 1930s, and could easily be reintroduced today.
But a 10K tax free threshold? Get a grip!
Better to tax only the first 10K at 100%.
And nothing on the rest.
ACT has a chance to make a big difference to the next government if it can get solid support and take the courage to be more radical
Indeed. Frankly anyone who claims to love democracy and does not vote ACT --- either doesn't understand MMP or doesn't understand freedom. Either way, they shouldn't be allowed to vote.
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