Under TOP’s 1.75% Land Tax policy, an $800,000 home, for example, with a $560,000 land value triggers a hefty $9,800 annual land tax. This is devastating for the many “asset-rich, cash-poor” , but TOP counters this with a massive taxpayers handout! A $19,400 universal Citizen’s Income for every single adult.
The gross annual cost to provide the standard $19,400 Citizen’s Income to all adult citizens and residents is estimated at $62.8 billion.
This Citizen’s Income completely replaces the main benefit system, meaning the government completely recovers the multi-billion dollar funds currently spent on the Jobseeker allowance, Student Allowances, Sole Parent Support, and NZ Superannuation.
To fund this massive welfare experiment, TOP will slap the aggressive 1.75% Land Value Tax on properties and also push income tax rates up to 34% and 39%.
The gross annual cost to provide the standard $19,400 Citizen’s Income to all adult citizens and residents is estimated at $62.8 billion.
This Citizen’s Income completely replaces the main benefit system, meaning the government completely recovers the multi-billion dollar funds currently spent on the Jobseeker allowance, Student Allowances, Sole Parent Support, and NZ Superannuation.
To fund this massive welfare experiment, TOP will slap the aggressive 1.75% Land Value Tax on properties and also push income tax rates up to 34% and 39%.
But get this, Maori land will be exempt from the 1.75% Land Value Tax!!!
Why exempt Maori Land from this key election policy? It’s not hard to assume TOP also support Maori Sovereignty by 2040!
Well, the TOP candidate for Wellington Bays is Dr Kayla Kingdon-Bebb, a co-author of the He Puapua report. In 2019, Kayla was appointed to the Declaration Working Group to help write He Puapua.
Quilae Wong claims “New Zealanders are losing trust in our political leaders and it’s easy to see why.” No argument from me because you have lost me Quilae!
While TOP claims slashing WINZ bureaucracy and replacing current benefits makes it “self-funding,” many, strongly doubt the maths. Counting on a volatile property market/property tax to fund permanent public payouts is nothing short of a dangerous gamble. If land values drop or revenue falls short, the country will come face to face with a catastrophic fiscal shortfall.
Compounding TOP’s radical economic shift is an equally polarising cultural stance.
The name of our country is New Zealand, right?
Wrong: TOP say it should be Aotearoa!
These drastic shifts could fundamentally reshape both your finances and our national identity if TOP got anywhere near the levers of power!
Whangarei Tim’s breakdown shows exactly why we must scrutinise the policy “fine print” before ticking the ballot paper. Don’t let clever marketing mask dangerous policy. Watch the video, check the maths for yourself, and make your views known in the voting booth!
Is TOP’s vision a risk worth taking?
Pee Kay writes he is from a generation where common sense, standards, integrity and honesty are fundamental attributes. This article was first published HERE
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