April Fool's tax cuts for the rich
This, from John Key’s speech from the throne.
My Government is today tabling a Bill to reduce personal taxes from 1 April 2009. Its intention is to pass this new tax legislation by Christmas and it believes this tax reduction will equip New Zealanders with some much needed extra cash in tough economic times.It is the New Zealanders who are earning less than $40,000 who need extra cash in tough economic times. Guess how much their April 1 tax cut will be?
A couple earning $70,000 - one on $38,000, the other on $32,000 – gets nothing at all.
Labels: tax cuts