Robert MacCulloch: The Herald Attacks the "Rorting" Rich with no Evidence

The Herald is running the headline, "NZ tax system is fairer than you think despite big earners rorting top rate, rejected report finds". The word "rort" is defined by most dictionaries as being a "fraudulent or dishonest practice". The article cites former Revenue Minister David Parker's IRD report on the taxes paid by the wealthiest Kiwis. It found no evidence whatsoever of fraud or dishonesty. Quite the contrary, the wealthiest Kiwis are dutifully paying the top rate of income tax of 39% and also, like wealthy people in nearly every nation, have significant capital gains on their assets. Those gains are not taxed in NZ. There are good economic reasons not to tax capital capital gains, by the way, since doing so can discourage savings and capital accumulation. So where is the "rort", Granny Herald?

Peter Williams: Why National, why?

Nats to continue the fiscal lolly scramble

Somebody suggested to me yesterday that the 2023 version of the National Party is similar to the Helen Clark Labour Party of 20 years ago. That is just to the left of centre.

When you look a few policies, that comment isn’t far off the mark. They’re going to retain the 39 cent top tax rate and they’re maintaining the Zero Carbon Act, when the ETS could do the same job at a fraction of the price.