tag:blogger.com,1999:blog-5710845602477644495.post5482392545282214848..comments2023-09-23T05:56:35.265+12:00Comments on MandM: And United Future's Baubles Are...MandMhttp://www.blogger.com/profile/02694636663826784480noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5710845602477644495.post-60991829529693046012008-11-18T22:45:00.000+13:002008-11-18T22:45:00.000+13:00I would love to have the option to stay at home an...I would love to have the option to stay at home and not receive any government assistance. I want to home school my kids at the moment and not work. So don't get me wrong I totally support achieving that end but I think flat tax is a better mechanism to get there with.<BR/><BR/>With flat tax, regardless of who in the family is working, everyone is on the same, lower, tax rate. It achieves the same thing as income splitting, i.e. the combined income ends up on the same tax rate as it would with flat tax but the process is simpler administratively (so less cost to the taxpayer) and everyone benefits and its fairer as no one is penalised for success and there are no cut-off zones where you are almost actually better off earning slightly less if you just cross over them.<BR/><BR/>See some examples:<BR/>Couple A - one earns $50k, the other earns $20k. Their tax rates are 33% and 21%. Income splitting would mean their total income would be viewed as $70k, so $35k each, so both would be on 21%.<BR/><BR/>Couple B - one earns $70k - 39%, the other earns $45k - 33%, income splitting means they'd be on 33% each.<BR/><BR/>Put in a flat tax of 21% and everyone is on 21%, including single people.Madeleinehttps://www.blogger.com/profile/00377823497040412237noreply@blogger.comtag:blogger.com,1999:blog-5710845602477644495.post-10558432430762442302008-11-18T20:01:00.000+13:002008-11-18T20:01:00.000+13:00"Income splitting is a positive move to lowering t...<I>"Income splitting is a positive move to lowering taxes but it adds complexity to the tax laws and does not benefit enough people."</I><BR/><BR/>Complexity aside, why should it be denied just because it does not benefit enough people? Maybe some mothers would stay at home with young children ( and no Govt assistance) if this became law.<BR/><BR/><BR/><I>"And the government acknowledges United Future’s ongoing support and interest in the development of the Seniors’ Gold Card...."</I><BR/><BR/>...and bequeaths, also, Winston Peters lounge lizard shoes.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5710845602477644495.post-39404127136168115572008-11-16T21:16:00.000+13:002008-11-16T21:16:00.000+13:00No details yet but I think it has to be on the car...No details yet but I think it has to be on the cards. I recall John Key complaining that Labour hadn't shifted them in years beyond adding the "rich" tax for those over $60k.<BR/><BR/>Income splitting would help us a lot so don't get me wrong. If it gets passed I will be happy as Matt and I are in the ideal position to benefit from it but flat tax would achieve the same thing and it would help more people and its simpler and cheaper for the state to run.Madeleinehttps://www.blogger.com/profile/00377823497040412237noreply@blogger.comtag:blogger.com,1999:blog-5710845602477644495.post-52496151093551620412008-11-16T21:06:00.000+13:002008-11-16T21:06:00.000+13:00Top rate to 30%! That's a good start. Are they goi...Top rate to 30%! That's a good start. Are they going to increase the brackets too. I know this stuff has been talked about, I just haven't seen the specifics (I am aware of Act policy on tax which is good but not good enough).<BR/><BR/>While I support income splitting, I agree that tax law should be simple not complex, and flat tax would be better.bethyadahttps://www.blogger.com/profile/08990677679970591625noreply@blogger.com