Written By: - Date published: 2:24 pm, May 20th, 2010 - 139 comments
Telecom Paul Reynolds’ $290,000 ‘rich guy bonus’ alone is enough to hire six nurses or teachers. It’s enough to pay for 40,000 hours of early childhood education. It’s the added GST bill for some 400 typical Kiwi workers.
As expected this man, earning $7 million a year, has been given a tax break more than 200 times bigger than that of the average Kiwi worker.
Update: Key has spent up large in his irresponsible tax cuts for the rich. We’ll be paying for this for decades to come. What happened to the fiscal conservatives in the National Party?
Written By: - Date published: 12:09 am, March 22nd, 2010 - 100 comments
I made a mistake in my calculations of the effects of the leaked tax reforms. In the corrected numbers, the poor get less, the rich get more. The wealthiest 13,000 taxpayers get a quarter of a billion in tax cuts between them – nearly $20,000 a year each. The poorest half $1.25 a week and higher rents to pay. This ‘tax reform’ package is really a mask for a wealth grab from the many to the few.
Written By: - Date published: 9:47 am, February 24th, 2010 - 60 comments
This man is Paul Reynolds, CEO of Telecom. He has overseen the largest corporate disaster in recent New Zealand history. The Nats are planning to give him over $6,600 a week in tax cuts. Apparently this screw up on a $7 million salary is the kind of guy New Zealand needs.
Written By: - Date published: 9:28 am, September 23rd, 2009 - 11 comments
It seems the trend of rewarding company bosses with extravagant pay rises regardless of performance isn’t limited to Telecom’s $7 million man, Paul Reynolds. The Dom Post reports the bosses of Contact and Skellerup have been given huge pay rises, despite both companies’ profits taking a dive in the last year. Contact’s managing director David […]
Written By: - Date published: 12:30 pm, September 10th, 2009 - 18 comments
Socialist Aotearoa have organised a Telecom solidarity fundraiser on Friday night. Not for $7m man Paul Reynolds, but for the lines engineers his contractors are busy laying off with no redundancy and trying to force into sham dependent contracts. If you’re in Auckland head along and show your support. The engineers are sure going to […]