In a speech to the International Fiscal Association Conference today, Revenue Minister Peter Dunne said the Government’s goal over the next 18 months is to start moving towards a top personal tax rate of 30%.
This would be a whopping 9% cut from the current top tax rate, almost exclusively going to the rich, and causing a massive fiscal hole that could only be paid for through major cuts to public services or through tax increases on low and middle income families.
There’s really no other way to interpret this than a plan by National and its allies to redistribute billions of dollars of taxpayers’ money to the country’s richest people and force the rest of us to pay for it.
So much for John Key and his smiling centrism.
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