Thursday, October 09, 2008

Most people lose out on Nat's tax cuts

Here's why I don't like National's tax cut package. Its a block of cheese tax cut for most workers - and the size of the block depends on how much you earn.

Someone earning $40,000 a year will get $5 a week less by April 1, 2011, a person on $30,000 will get $7 a week less and someone on $20,000 will get $9 a week less. Every family earning less than $44,000 will get less under National.

That's in 2011 just before the election after next. Most people earn less than $40,000 so although the person on the average wage gets $47k, most people get half that. Also, someone earning $52,000 can get a government subsidy of $1040 a year in KiwiSaver, someone earning $25,000 will only get $500 a year.

But there's good news, if you're retired you'll be better off with National.

Be afraid. Be very afraid. Labour's mismanagement of the economy is about to benefit the rich.

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Blogger homepaddock said...

"and the size of the block depends on how much you earn."

That's because if you earn more you pay more tax. I did a post on this yesterday:

October 8, 2008 at 10:20 PM  

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