Who will win the 2011 election?

[Ocean1]

• Households with an income of $50,000 or below pay no net tax at all. They ‎actually receive approx. $4.40 for every $1 of tax paid. That is –they pay ‎‎$1.7b in tax and receive $7.7b in welfare.‎
• ‎44%of households are net tax recipients. ‎
• ‎17% of households are paying 97% of net taxation.‎

Staggering, innit?

[rainman]

I think I read somewhere that 50% of NZ families don't pay any income tax. Why?

Oooh I know, I know, pick me....

... because they don't earn enough.

[oldrider]

When I left school NZ had full employment, it was possible to walk in and out of jobs almost at your leisure!

I began life as an office junior at Levin and Co Masterton, after nine months I quit and went out to Akitio (East Coast) driving a crawler tractor crashing scrub.

Got interested in engineering so then served an apprenticeship with NZR.

On completion of my apprenticeship I left NZ and became an engineer with New Zealand Shipping Co.

My generation has had the best years life has ever offered the ordinary people in the street.

It makes me feel ashamed the way we have left everything for the new generations that follow!

I am now a passenger running on your tickets and although I have paid the premiums for my pension, it is on the backs of the current and future generations that I depend.

It is not taken lightly and I am thankful for your generosity on every pension day!

As a dependant on workers of today, is it fair that pensioners have the same voting rights as those that pay the piper?

Doesn't seem like justice does it!

[Ocean1]

As a dependant on workers of today, is it fair that pensioners have the same voting rights as those that pay the piper?

There are plenty who vote having contributed nothing. If you believe one politician of my acquaintance we can’t possibly have expected our taxes to have funded our pension, it’s always been accepted that it’s funded by future tax revenue.

I’ve never accepted that, I expected successive governments to have invested a portion of our tax to pay for our pensions. Y’know, not blow the fucking lot on election lolly scrambles.

Enjoy your retirement, John, you’ve earned it.

[MisterD]

it’s always been accepted that it’s funded by future tax revenue.

The words "ponzi scheme" spring to mind...

[Ocean1]

The words "ponzi scheme" spring to mind...

Filthy stinking lying cheating slimey arseholes are up there also.

[rainman]

I’ve never accepted that, I expected successive governments to have invested a portion of our tax to pay for our pensions.

Yeah me too, but sadly we're both going to be disappointed here.

Enjoy your retirement, John, you’ve earned it.

Wot 'e sed.

But you're right, your lot had it very good indeed.

[Ocean1]

Yeah me too, but sadly we're both going to be disappointed here.

I'd be cool, if the system didn't effectively prevent me from belatedly providing my own funds for retirement.

Worse will come. They'll means test the pittance we'll eventually get.

[Clockwork]

Actually, I reckon fair solution may be to freeze the current offering and make it available all, as now but start to means test any "cost-of-living" increases.

[shrub]

I had a look at what he wrote on interest.co.nz and it makes a hell of a lot of sense. He's a bloody clever bastard with some very good ideas, plus he rides a bike, so I'll be reading that this weekend with interest.

[puddytat]

I tried to source the "50% of families pay no tax" quote.

I didn't, but I did find this:

‎
• ‎17% of households are paying 97% of net taxation.‎

I find that incredible Certainly would'nt be the rich would it?
If not then who is? What demographic or socio-economic level do they come from?

[Winston001]

Here is the table of nett tax paid by families - source: Ministry of Inland Revenue.

Families earning over $150,000 represent 9.7% of all families, and pay 70.7% of total tax.

Oscar's figure is correct. The reason for the gross imbalance is many families have a negative tax position - they receive more money from other taxpayers than they pay.

[puddytat]

Far out man,who'd of thought.
Couldnt open that attatchment properly though, was all computer speak, or Russian....

[oldrider]

Here is the table of nett tax paid by families - source: Ministry of Inland Revenue.

Families earning over $150,000 represent 9.7% of all families, and pay 70.7% of total tax.

Oscar's figure is correct. The reason for the gross imbalance is many families have a negative tax position - they receive more money from other taxpayers than they pay.

So this "is" the hard evidence that the have's, now have not, because the have not's have had it given to them by the government after they steal it from the have's by exorbitant taxation demands! (extortion by any other name)

If all of the have's decide to ship out to Australia etc, who will the government steal from then?

Then again, all the have not's might ship out to Australia etc too and there will only be the government left here!

Who will they steal their ill gotten gains from then?

[Clockwork]

Here is the table of nett tax paid by families - source: Ministry of Inland Revenue.

Families earning over $150,000 represent 9.7% of all families, and pay 70.7% of total tax.

Oscar's figure is correct. The reason for the gross imbalance is many families have a negative tax position - they receive more money from other taxpayers than they pay.

This is pretty sobering stuff but between me and my wife, we must be on the edges of that 9.7%. I don't exactly feel destitiute.

Just sayin'

I'm betting that the figures arnt too different in Aus either. I Wonder how that compares with the wealth distribution.