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Malcolm Rands, founder of cleaning products company Eco Store, has a sentiment few can share: “He would like to pay more taxes.”
He said he is happy to pay Labor’s proposed 39 percent tax rate and would be willing to pay more.
“Let’s see how 39 [percent] goes. If we can handle it, let’s take it further, yeah, “Rands said.
A 39 percent tax rate is low compared to the highest tax rates internationally. The United States charges 43 percent, the United Kingdom 45, Australia 47, Japan 56 percent and Sweden 57 percent is the most expensive in the OECD.
Aucklanders Newshub spoke to say that the labor rate is correct.
“Great, sounds great,” said one.
“If you have more, you should pay more,” said another.
Some say it is not enough.
“Probably taxing them at 50 percent,” said one person.
But opinions also depend on how much a person earns.
“Shit, no, they have no idea what they’re doing,” said one. When asked if they made more than $ 180,000, they declined to comment.
Tax expert and PwC NZ partner Geof Knightingale says Labor’s tax plan won’t hit the rich where it hurts most.
“There’s a whole class of income that’s not currently taxed, that isn’t taxed yet, it’s capital gains,” Knightingale said.
He said taxing workers’ wallets is Labor’s second best option after Prime Minister Jacinda Ardern scrapped a capital gains tax on profitable assets like property.
“Under a future Labor government, the rich will continue to get rich,” he said.
Executives at the nation’s top publicly traded companies well and truly exceed the $ 180,000 benchmark for the proposed tax rate, earning an average of $ 868,000 each. Under the Labor plan, they will pay an additional $ 41,000 a year.
