12-06-2023, 10:20 AM
When we read the articles yesterday, DH's first comment was about it's impact on inflation. I just thought "help, there's no way we could afford that". For us, we fall into the low income category that would have less income tax to pay, but the "wealth" tax on our properties would take up pretty much all our income, on top of the income tax we already pay. But at least as landlords, there is always a remedy - rent. The average rental house is probably worth around $800k, and the extra tax on that would be $385 per week. I wonder if that's how the greens came up with that number as a minimum income. Probably just coincidence since that is the extra rent on top of what people already pay.
Then you need to look at everything else we consume - starting with food. If a farmer has a $10m property, they would be forking out an extra $250k per year on top of their costs and the income tax they already pay. So whether they are growing carrots or beef, that's a cost we would all have to bear at the supermarket.
And so on. It would affect every part of our society.
This idea for the tax is a poorly thought out "hammer the working" in order to give to the non-productive. Only the unthinking would give it any consideration in the ballot box. The trouble is we have far too many unthinking people out there.
And before you start throwing back at me that I'm just hitting the undeserving poor - no I'm not. I have and always will support help for those who need it. I just object to spending a lifetime working towards a reasonable retirement to have it taken away by the greedy and lazy who don't see a need to at least look after themselves.
I fully agree that our tax system needs a proper overhaul, but it needs to be done in a way that stimulates productivity and doesn't squash it. Society can't look after the poor if everyone is poor.
And no, I don't see Swarbrick becoming PM, but I am watching Nicola Willis.
Then you need to look at everything else we consume - starting with food. If a farmer has a $10m property, they would be forking out an extra $250k per year on top of their costs and the income tax they already pay. So whether they are growing carrots or beef, that's a cost we would all have to bear at the supermarket.
And so on. It would affect every part of our society.
This idea for the tax is a poorly thought out "hammer the working" in order to give to the non-productive. Only the unthinking would give it any consideration in the ballot box. The trouble is we have far too many unthinking people out there.
And before you start throwing back at me that I'm just hitting the undeserving poor - no I'm not. I have and always will support help for those who need it. I just object to spending a lifetime working towards a reasonable retirement to have it taken away by the greedy and lazy who don't see a need to at least look after themselves.
I fully agree that our tax system needs a proper overhaul, but it needs to be done in a way that stimulates productivity and doesn't squash it. Society can't look after the poor if everyone is poor.
And no, I don't see Swarbrick becoming PM, but I am watching Nicola Willis.