Post by James Christophers Post by greybeard
Economist and co-director of Massey University's Māori business unit Te
Au Rangahau Dr Matthew Roskruge said..................
............."Maybe superannuitants on high incomes need to be on
increased taxes, [or] some other way of reducing that burden
so we can reallocate the funds to where they're needed more," .......
Clearly this fellows appointment is due to ethnicity and not scholarship.
We have a progressive income tax in NZ. If your income is limited to
National super alone, you pay paye at that level.
If you receive income from other sources, then your income tax will rise
to reflect that.
That this prat, Te Au Rangahau Dr Matthew Roskruge, doesn't know this,
then he has no business on the payroll of a University.
Isn't this just another iteration of the argument for a means test, justified or no?
It is not only this chap who is rabbiting on about this.
There was another article about this.
Its all about the baby boomer curve which the late Michael Cullen proposed
to flatten by having a pool which could do this. I think it got "stolen" by
The proposal is to shift the earnings of super folks into a new tax bracket
which is taxed at the max tax rate. This will increase the tax and at about
$170K the tax will equal the super.
So yes it is means testing.
This also reflects the issue of too many fat cats. Wealth distribution all
out of balance.
The other two ways of "fixing" this issue is cut the pension or up the age.
Both are not as simple to do, in a workable way. The present pension is
considered to be only just enough to survive on. The people at the bottom do
not earn enough to make any worthwhile life savings.
Then there is the 40 year lag, in what we do to-day will take 40 years to
come out the other end. Still all the baby boomers will be dead by then.
Governments will not solve this problem as elections get in the way far too