Flat tax with a starting threshold is known as 'marginal flat tax'.
Scroll down a bit on this page. (or see 1.2 in index)
https://en.wikipedia.org/wiki/Flat_tax
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Flat tax with a starting threshold is known as 'marginal flat tax'.
Scroll down a bit on this page. (or see 1.2 in index)
https://en.wikipedia.org/wiki/Flat_tax
if you look at the threshold as the minimum current non-discretionary cost for a human to exist in current acceptable conditions, then if you tax that you are in effect taxing an expense (certainly with respect to income from personal effort). So it becomes regressive…or regressive double taxing when you take into account GST as well.
Precisely why it shouldn't be called a flat tax. However the 'marginal flat tax' is a fair description. GST is a consumption tax, unaffected by income tax so doesn't come into it. Fair enough to have two separate tax names and the two separate taxes. If you want to take a slice of your income and call it an expense, you're more than welcome - be my guest.
Yes but the problem with your socialist paradise of taxing everything that moves you invision, a straight forward answer, and it's happening in California and New York.
Those with the wealth and means myself included would simply move to Australia, Texas, Florida.
Leaving behind those to clean up the mess they wished for.
It's nothing for me to sell everything and park it in Australia's economy.
Yes Oz has taxes but like here there are ways around it.
Attached is an excellent scientific analysis of targeted tax group's and it's social outcomes.
Attachment 13122
Since this is 1st homebuyers, do people in the know here think that house prices will keep rising?
I read somewhere that one prediction is 2million for the average home in the coming years Auckland/Wellington. Is this even possible?
I will go look for the link
Of course it's possible. Whether it's likely in our life times is a more interesting question.
i'd say it depends on what you mean by 'the coming years'. Given long enough it's all but guaranteed, but getting there will be a roller coaster ride.
https://www.youtube.com/watch?v=kUldGc06S3U
Supply and Demand. A bit simplistic but true. A bit less simplistic would mean taking into account population changes, income changes, cost of supplies and money (interest), government intervention, fudge factors - and the interactions between them - for starters. The net of which is - it depends!
For fun, take a million dollars and add say 8% / year. Doesn't take long to double it.