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Lower, Flatter Taxes The Answer For 'Leaky' System
Lower, Flatter Taxes The Answer For 'Leaky' System
Rodney
Hide
Thursday, 14 September 2006
Press Releases -
Taxation
A research paper released today by the Centre
for Independent Studies highlights the need for lower,
flatter taxes, says ACT Leader Rodney Hide.
"The paper 'How to Fix a Leaky Tax System' sheds new light on how the politics around tax has become more important than good policy", Mr Hide said.
"This paper recommends scrapping the 39% top income tax rate and moving towards a system with just two rates. It also highlights why targeted tax concessions are not the answer.
"An overly complex tax system benefits those who can afford to find the loopholes.
"I'm pleased the ACT view has been confirmed - that simply lifting thresholds isn't the answer, and we need lower, flatter taxes.
"Flat taxes are easier to understand, harder to avoid and fairer on taxpayers.
"With a flat tax rate, earning twice as much money means paying twice as much tax - not three or four times as much, as people do now.
"The Centre for Independent Studies should be congratulated for shedding new light on good tax policy", Mr Hide said.
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