David Cormack

Lying liars or incompent?

Added 2020-06-28 08:12:41 +0000 UTC

Predictably, the National Party response to the Green Party policy launched today has been scare mongering bollocks.

In the release from National's finance spokesperson, Paul Goldsmith, above, he says that "a successful small business person owning a $1 million house and business worth $1 million would have to pay $40,000 a year for the 2 per cent wealth tax.
Aside from the fact very few people fit with Paul's imaginary person, it's just plain wrong.
I am by far and away no financial wizard at all, I'm quite economically dumb. But even I understand marginal tax rates.
The policy is to tax 1c of every dollar *above* $1M. So that means if you had a house worth $1m and a business worth $1m, you'd be taxed one percent of that $1m you have about the $1m threshold. So $10,000. Quite a big difference to the $40,000 put around by the man who wants to run our treasury department.
This also doesn't take into consideration whether that imaginary person has a mortgage, or is living with someone else. All sorts of reasons why they'd pay nothing like $40k as made up by Paul.
This sort of shit has to stop. We cannot allow our MPs to just lie. This is not just unique to National. There will be lies flowing thick and fast from all sides over the next few months and it gets harder and harder to discern fact from fiction.
I'll try my best to call out shenanigans. but obviously I'm biased af. So you need someone else to call out shenanigans by the left.
Anyway, this was just a short sharp piece because I was so enraged. Either Paul is lying, or incompetent. Neither bodes well.
They're just not sending their best people.

(updated because I had 10% not 1%)