Cullen says marginal tax rate is 67%

In news that should shame him but he is evidently proud of cullen today stated that he is taking 67% of every extra $ earned by New Zealand families over the last 5 years. after they take out inflation they are probably left with nothing in real terms.  Cullen claims household tax load has got a shed load worse.

Yesterday he issued a statement alleging Mr Hide had misused Treasury's numbers and saying the average household was in fact $2520 a year better off since 1999. That figure was arrived at through comparing the rise in average household incomes - up $7720 to $68,280 - with increases in direct and indirect taxes, which totalled $5200. Direct taxes rose 23.9 per cent over the period, or $2750. Indirect taxes - mainly GST and excise duties - rose by 29.7 per cent or $2450.

So $5200 divided by 7720 is around 67%. THIEVING FRAUDSTERS.

UPDATE: CPI index Mar 2000 1004.  CPI index Sep 2004 - 1113.  Taking Net income into 2000 $ the value of post tax earnings in 2000 was $40,805.  The value of that now is $39,081.  So every family is a net  $1,800 worse off!!!!!

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