Hot on the heels of National Party Leader Chris Luxon saying he would not be dropping the top tax rate from 39 to 33 cents should he win the next election, the ACT Party released the most extraordinary Press Statement - it said that ...
".. indexing tax thresholds to inflation is a policy ACT once supported but no longer"
Yes, ACT have formally endorsed stealth taxes by way of inflation (!) The Party has decided to copy Labour's tax policies that don't adjust tax thresholds. What are those thresholds? You jump from 10.5% to 17.5% when your income goes over $14,000. Then it jumps to 30% when you go over 48,000 and hits 33% at $70,000.
Are the Kiwi right-wing parties so intellectually bankrupt that in spite of years arguing this Labour government doesn't have a clue about economic management, they have decided to copy Labour's tax policies and the right's sole "policy" is to argue "trust us, we would be better administrators and managers".
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