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ACT leader David Seymour says simpler tax system would encourage a culture of success (www.rnz.co.nz)

submitted 10 months ago by Dave to c/politics

32 comments fedilink hide all child comments

National campaigned on a proposal to adjust the existing tax thresholds, but as part of coalition negotiations with ACT last year, it agreed to consider whether the "concepts" of ACT's tax policy could be incorporated "subject to no earner being worse off than they would be under National's plan".

In simple terms, ACT would immediately axe the lowest tax threshold of 10.5 percent, meaning the government would collect more revenue from all income earners.

Some of that extra revenue would then be returned to low-and-middle income earners through a targeted tax credit to ensure they were not worse off.

The money left over would allow the government to reduce the higher tax rates at the top of the income scale - dropping the 33 percent rate to 30, and the 39 percent rate to 33

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[–] liv 3 points 10 months ago (1 children)

I never understand this.

The difference between their take-home pay if they were being taxed how they think they are, and what it is in real life, is thousands of dollars.

How can they not notice?

[–] Rangelus 2 points 10 months ago

Because they are either stupid, willfully ignorant, or lying.