Taxes - what are the best ideas?

[Winston001]

Sod it, gotta go out and its cold as a widows teat. Been chewing over the Capital Gains Tax so any excuse for delay...

Ideally we are all born with equal opportunity and make the best of life.

One significant swerve in that ideal is some families are financially better off than others. So even from the womb some children get out of the starting blocks healthier and with better opportunities.

I don't think we can or should try and change that. The best our society can do is raise the chances for children in poorer families.

However beyond that, children grow up and if the family is well off they can - and do - expect a substantial inheiritance. The result is wealth becomes locked up in the hands of people who did not originally create it, but who believe they are entitled.

So...is it time to reintroduce Death Duties? When you die say 30% of your estate is taken in tax. Let your children forge their own paths in life.

[Bald Eagle]

I was never afflicted with the expectation of an inheritance as a right, and thankfully neither are my children.

The most sensible thing to do to encourage effort and growth is to reverse the idiotic secondary tax rate. If you are prepared to work another part time job you should be rewarded with a lower tax rate not a higher one.

This would also mean people on a benefit ( primary income) wouldn't get a tax dis insentive on their part time job ( secodnary tax)

[Big Dave]

So...is it time to reintroduce Death Duties?

A wholesale societal disincentive.
Or you fiddle it so they get it all before you kark it.

[Usarka]

Genetic science fullas have predicted that the first person to live to 1000 could be born in the next 20 years.

http://tvnz.co.nz/world-news/scienti...-cured-4289472

Might be a short term solution lol.

[bogan]

Large hole in the death duties idea would be corporations or trust funds, another loophole for the rich.

The trouble is, other countries have those sort of loopholes too, so while NZ can make things fairer nationally, it may just cause the rich buggers to take it international!

I reckon tax re-distribution is a band-aid solution, creating a stronger economy offers far more benefits. However, the later is a long term plan, and with MMP and me-me-me voters, not one that buys as many votes.

I do very much like the idea of getting rid of the secondary tax.

[mashman]

Ideally we are all born with equal opportunity and make the best of life.

One significant swerve in that ideal is some families are financially better off than others. So even from the womb some children get out of the starting blocks healthier and with better opportunities.

I don't think we can or should try and change that. The best our society can do is raise the chances for children in poorer families.

BULLSHIT! (see below)

Taxes - What Are The Best Ideas?

100% flat tax rate. Everything in the country is free. Sorts the lot out!

[HenryDorsetCase]

Roger Douglas proposed a flat tax rate. IIRC 20% or 25%.

sounds like a plan to me.

[imdying]

100% flat tax rate. Everything in the country is free. Sorts the lot out!

Tie it to a productivity index? Don't make the grade, you get culled.

[Latte]

I was never afflicted with the expectation of an inheritance as a right, and thankfully neither are my children.

The most sensible thing to do to encourage effort and growth is to reverse the idiotic secondary tax rate. If you are prepared to work another part time job you should be rewarded with a lower tax rate not a higher one.

This would also mean people on a benefit ( primary income) wouldn't get a tax dis insentive on their part time job ( secodnary tax)

Unfortunately that would lead to people fiddling the system and getting 2 20 hour jobs working in the same place (sitting at the same desk, doing an exceedingly similar job etc).

The idea of secondary tax income being higher is to keep your total tax bill as close as possible to what you should have paid - neither employer knows what the other is paying, so one has to be paying the "higher" tax bracket.

If you end up paying too much tax you can claim it back at the end of the year etc.

[mashman]

Tie it to a productivity index? Don't make the grade, you get culled.

heh, tying it to some form of "index" may not be necessary iffen the education system works properly... Work for a year, take a year off perhaps?

[JimO]

why work hard all your life for your efforts to go to the people who dont work, poor people and uneducated dumb fucks tend to have more children they cant afford, smoke, drink, gamble etc, fuck the poor people

[steve_t]

100% flat tax rate. Everything in the country is free. Sorts the lot out!

Isn't that called Communism? If this comes into effect, I'm gonna stop working

[Latte]

Isn't that called Communism? If this comes into effect, I'm gonna stop working

And pick up a couple of free Lambo's and MV Augustas =D

[popelli]

So...is it time to reintroduce Death Duties? When you die say 30% of your estate is taken in tax. Let your children forge their own paths in life.

NO

Taxes are a punishment for hard work enterprise and thrift

Government expenditure is a reward for idleness and laziness

Increasing taxes and govt expenditure is sending the wrong message out, it does not encourage or reward enterprise, it punishes it, conversely lower taxes and less govt spending encourage a vibrant economy that provides more opportunity for everybody

[Gremlin]

why work hard all your life for your efforts to go to the people who dont work, poor people and uneducated dumb fucks tend to have more children they cant afford, smoke, drink, gamble etc, fuck the poor people

wot e sed...