People earning $70,000 aren’t rich, and shouldn’t be taxed as though they are, says ACT Leader David Seymour.
“No-one on a five-figure salary should have to pay a 33% tax rate. Seventy thousand was once big money, but inflation and rising wages have pushed more and more workers into this top tax bracket.
“These aren’t rich pricks. These are hard-working Kiwis paying off mortgages and raising families. Yet National taxes them at 33%. The top tax bracket shouldn’t cut in until someone earns at least $100,000.