You are right on one thing though Ms Panda. Collins actively advocated for those working hard & earning better, to hand over even more of that money across to the State.
That would be true even if it's a flat tax.
Mind you a flat tax would be fairer than what we have if its applied to capital gains and dividends too (ACT says no though.. why might that be).
26-02-2024, 08:46 AM
Panda-NZ-
Quote:
Originally Posted by FTG
Only 21% of tax payers earn over $70,000, yet pay68% of all income tax.
The obvious flaw in this mindlessly repeated statistic.
Assume a teenager who works part time pays 100% tax on 5k income... 5k paid
A millionaire pays 1%... 10k tax paid.