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05-08-2023, 04:24 PM
#511
Originally Posted by FTG
Their Tax policy doesn't 'give' anyone more money. Instead it sets the framework for the State to TAKE LESS of our money....and that's everyone by the way, not just the 'wealthy'.
In this context, what does "wealthy" mean anyway? The are many, many folk in NZ who work hard and/or smart and who earn a 'large' income, yet under many peoples definition are still on "Struggle Street' and aren't truly 'wealthy'. Anyway, I digress.
Can you give us a worked example how ACT's tax policy will take less tax from someone on a minimum wage or a pension???
I would appreciate the worked example showing how minimum wage earners and pensioners will pay less tax under ACT's tax policy, obviously I missed something when I had a look.
Lets keep to the FACTS as I know Baa Baa does not like ignorant or lazy posts.
As to the TRAVESTY that reigns unabated
Some might suggest the travesty is that less and less people are accumulating more and more of the wealth and income (pretty sure that is a fact). The only means of redistribution is through govt and taxation or possibly a third generation member blowing it all or revolution in extreme cases.
Everyone pays income tax even the beneficiaries. I think what you mean is that what they pay in tax does not match the benefits they receive such as roading and health care etc.
Very few pay any sort of capital gains tax that is the travesty that reigns unabated in my opinion.
Look forward to your worked example to increase my understanding of how ACTs tax policy will work in reality.
Last edited by Aaron; 05-08-2023 at 04:34 PM.
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05-08-2023, 04:44 PM
#512
I agree with the mean kids that taking GST off fruit and vegetables is a weak attempt to buy votes by Chris Hipkins. A weak leader who rules out a capital gains tax and tries to buy votes with a dumb idea.
There is no GST on residential rent but this does not appear to have alleviated any suffering. The view from people that seem to understand this stuff is that it will involve a lot of mucking around for no real benefit.
I agree that it "sounds" like a good idea but like FTGs understanding of ACTs tax policy the reality is quite different.
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05-08-2023, 04:55 PM
#513
Originally Posted by Aaron
I agree with the mean kids that taking GST off fruit and vegetables is a weak attempt to buy votes by Chris Hipkins. A weak leader who rules out a capital gains tax and tries to buy votes with a dumb idea.
There is no GST on residential rent but this does not appear to have alleviated any suffering. The view from people that seem to understand this stuff is that it will involve a lot of mucking around for no real benefit.
I agree that it "sou. nds" like a good idea but like FTGs understanding of ACTs tax policy the reality is quite different.
It doesn't even sound like a good idea It's ridiculous. If they're hell bent on messing around with gst (to pick up a few votes from the gullible) make GP visits exempt. For a several reasons it would make more sense, although still stupid
Last edited by fungus pudding; 05-08-2023 at 05:06 PM.
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05-08-2023, 05:37 PM
#514
Originally Posted by Aaron
Can you give us a worked example how ACT's tax policy will take less tax from someone on a minimum wage or a pension???
I would appreciate the worked example showing how minimum wage earners and pensioners will pay less tax under ACT's tax policy, obviously I missed something when I had a look.
LOL. You didn't really look, did you. Don't be so lazy Aaron.
Just to be clear, I'm not your researcher or slave. I'm not doing the heavy lifting for you, or for ACT, or for any other political party for that matter.
But since you ask the question reasonably nicely I would suggest that the natural & first base for you to gather some info would be to take a proper look at ACT's website.
Do exactly that and Voila! Here's some of what you would find...
By 2023/24, the tax burden on the average New Zealander will be $1,236 per year lower under ACT than Labour. We will have delivered a tax cut for every earner.
In order to ensure that every earner would receive a tax cut, ACT would also create a new Low and Middle Income Tax Offset (LMITO), starting in fiscal year 2022/23. This tax offset would be worth $800 per annum for all earners earning between $12,000 and $48,000..
(There go your minimum wage folk you ask about Aaron).
It would gradually grow at a rate of 8% from $0 per year for taxpayers earning $2,000 to the full $800 for taxpayers earning $12,000. At incomes above $48,000, the offset would abate at a rate of 8%, reaching $0 at an income of $58,000.
Putting & keeping more money back into ALL kiwi's pockets require an all-of-State realignment. Income Tax policy is just ONE aspect of a multi-pronged approach that is required.
The State, under both Labour & National led governments has been, and continues to be, super insidious when it comes to taking Kiwi's money and then drip feeding it back; very inefficiently at that. This situation has only continued to exacerbate over the last couple of years following the reckless economic & monetary management of both Roberston & Orr.
The harder and/or smarter a Kiwi works the higher the % of their income that they are expected to dispense back into the Pig's trough.
Totally non-inspirational, non-aspirational & hence demoralising for many very good people in our society.
Enough is enough!
Last edited by FTG; 06-08-2023 at 10:19 AM.
Success is a journey AND a destination!
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05-08-2023, 05:57 PM
#515
Originally Posted by Balance
Garbage answers as usual from the resident Labour BS artist.
Fruit and veges prices will drop back once the weather events have abated and as summer approaches. No reason to remove GST on them to allow supermarkets to make more profits.
And BTW, my questions are in response to Daytr’s assertion about the wonderment of tax on food. Why only fruit & veges?
As I said I think GST should be scrapped all together. It's a regressive tax that oppresses the lower income component of society.
So not just fruit & veg get rid of it all together & replace it with a progressive tax system that includes a CGT.
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05-08-2023, 09:15 PM
#516
Originally Posted by Aaron
To paraphrase "The only thing dumber than David Seymour's face is his parties policies".
To be truthful Sir Roger did not say that as he is not an ignoramus like myself.
Originally Posted by Aaron
Like I say the only thing dumber than David Seymour’s face is ACTs tax policy.
This Aaron, is where you lost your audience. You don't like Seymour's face, so you attempt to slag ACT's policies that you also confess you haven't read, and you are also a self confessed ignoramus (you do self denigration quite effectively, believable even).
Still, you dig the hole deeper that you are already in and expect other people to validate your claims. Preposterous, look in the mirror Aaron, look at what is staring back at you ... do you like what you see?
Credibility? None. Hostility no, respect no, reputation, no not that either. Check that mirror, only you can fix it.
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06-08-2023, 12:37 AM
#517
Originally Posted by Daytr
As I said I think GST should be scrapped all together. It's a regressive tax that oppresses the lower income component of society.
So not just fruit & veg get rid of it all together & replace it with a progressive tax system that includes a CGT.
The US tax system is more progressive than NZ (even has a small inheritance tax).
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06-08-2023, 07:43 AM
#518
Originally Posted by Panda-NZ-
The US tax system is more progressive than NZ (even has a small inheritance tax).
Yep the UK has an inheritance tax as well. I think if you are going to have a CGT you need a gifting & inheritance tax so capital gains aren't just passed down through generations without paying tax.
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06-08-2023, 08:04 AM
#519
Originally Posted by Daytr
Yep the UK has an inheritance tax as well. I think if you are going to have a CGT you need a gifting & inheritance tax so capital gains aren't just passed down through generations without paying tax.
Death Duties as they are commonly known, and worryingly we already do have them in legislation, its just that they are set at zero so would be very simple for any govt to change that figure. They wouldn't have to go through the process of establishing them in law.
The problem is at least twofold, the wealthy are able to protect that wealth for future generations via Trusts so they tend to unfairly hit the less wealthy, and secondly again they can have a damaging impact for the countries economy when assets like farms or businesses have to be split up & parts sold off to pay for the Death Duties or even force the sale of family homes.
A CGT seems much fairer & less damaging.
Aside from this other countries like Australia, UK, Sweden have a much higher top tax rate than we do.
Australia 45%
England 45%
Scotland 47%
Sweden 52%
NZ 35%
And ACT wants ours to drop to 28%
No wonder ACT is receiving massive election donations from High Wealth families & individuals !
Last edited by Blue Skies; 06-08-2023 at 08:10 AM.
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06-08-2023, 08:40 AM
#520
Originally Posted by Blue Skies
Death Duties as they are commonly known, and worryingly we already do have them in legislation, its just that they are set at zero so would be very simple for any govt to change that figure. They wouldn't have to go through the process of establishing them in law.
The problem is at least twofold, the wealthy are able to protect that wealth for future generations via Trusts so they tend to unfairly hit the less wealthy, and secondly again they can have a damaging impact for the countries economy when assets like farms or businesses have to be split up & parts sold off to pay for the Death Duties or even force the sale of family homes.
A CGT seems much fairer & less damaging.
Aside from this other countries like Australia, UK, Sweden have a much higher top tax rate than we do.
Australia 45%
England 45%
Scotland 47%
Sweden 52%
NZ 35%
And ACT wants ours to drop to 28%
28% Not high enough for you?
Ever thought of getting off your butt and making your own pile?
I suspect you've never given that any serious thought.
Much easier to hold your hand out for a share of everyone else's.
Last edited by fungus pudding; 06-08-2023 at 08:45 AM.
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