The Great Tax Robbery
The Great Tax Robbery
If you are able to save from your salary or wages you are being robbed – not by the banks but by the government.
Once you have, say, $1000 saved you may prefer to risk it on the share market but until you do the following happens (using current BNZ rates as it is our biggest bank but use your own figures, it does not change the story):
$1000 invested at 2.6% for 12 months gains $26 interest. Tax (at 30%) takes $7.80 leaving a new total of $1018.20 which ‘looks like’ profit of $18.20 BUT IS NOT.
With inflation (around) 2% though the real value, the purchasing power, of your original $1000 PLUS that interest (1018.20 x 0.98) is now only $997.84
Your $1000 (in terms of what it can buy) has lost money and the Government has taxed your losses – this only happens to savers, generally working people and the retired, not rich investors.
Robbery.
Poll: Are domestic flights with Air NZ out of your budget?
A Tauranga man has filed a complaint with the Commerce Commission, claiming that due to dynamic pricing, it’s cheaper for him to fly to Los Angeles than to book a flight for his daughter from Tauranga to Wellington.
Do you think their pricing needs addressed to encourage more people to fly?
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95.4% Yes, it's too expensive
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3.9% No, it's reasonable
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0.7% Other - I'll share below
💬 Guess Away! Let’s See Who Gets It First! ⬇️
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