Tax Policy stealing extra billy through bracket creep.

A report from the NZ Institute of Economic Research shows that Cullen's refusal to adjust tax brackets means he is scalping Kiwi's of an extra $1 billion un-necessarily.

Don't forget that one of Helen's famous pledge card promises when the Government introduced the 39c rate for incomes over $60,000 would be that it would affect only 5 per cent of taxpayers.

But last year nearly 12 per cent of taxpayers were in the top bracket, and they collectively contributed over half the income tax take.

In order to compensate for inflation between 2000 and 2006 the threshold up to which the 15 per cent rate applies, now $9500, would have to be raised to $11,300.

Cullen has to go, and he can take the witch with him.?

 

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