Should we run a wasteage list for the Labour govt ?

[fungus pudding]

Yes, in the ideal world the State should not use tax policy to encourage/discourage economic activity for particular sectors and asset classes. Do that and the more the tax-payer will attempt to "game the system". Ultimately this leads to damaging economic distortions that in turn artificially inflate/suppress the targeted sector/asset class. Moreover, it inevitably produces a raft of 'unintended consequences" (economic & social) that politicians fail to anticipate and of course recognise & take responsibility for, when they inevitably hit.

Sadly, the current Labour Government are recidivous offenders at attempting to 'screw the scrum', through tax policy. Tremendous amounts of financial waste can be found littered in all corners of the NZ economy currently. That reckless & negligent behaviour is and will continue to negatively impact us all.

The good news is that a Turnover Tax is far more difficult to 'game', much easier to administer and treats each Gross income earner the same (No corporate socialism!).

Bjauck, you make comment about a TT system not referencing whether a business is profitable or not. Agreed, but surely you recognise that this situation already exists with the current Tax framework?

- A Salary/Wage earner currently pays PAYE on the Gross Income/"Turnover". That tax is deducted at source, at the prescribed rate, regardless of whether the taxpayer's household "P & L' is 'profitable' or not.
- A business can show a P & L loss but still be a significant net payer of tax (GST).
!

Q. Is the business a payer of tax, or merely an agent, collecting tax for and on behalf of the IRD?
A. The latter.

[nztx]

The wasteage list must include the whole Govt front bench now - surely ?

Even Handy Andy is now on high level defensive chasing imaginary Russian images around the Chathams

The hospitals & Pikers River appear to have still haven't recovered from the handiwork imposed on them