Taxation
As of 2010, New Zealand had the second-lowest personal tax burden in the OECD, once all compulsory effects (such as superannuation and other mandatory deductions) were included in the tax-take. Only Mexico's citizens had a higher percentage-wise "take home" proportion of their salaries.
There is an ongoing political debate between left-leaning and right-leaning political parties as to whether further lowering taxes is appropriate. One of the most contentious questions is whether to adjust the relative tax burden of the highest-income earners.
Read more about this topic: Economy Of New Zealand
Famous quotes containing the word taxation:
“The Government is able to afford a suitable army and a suitable navy. It may maintain them without the slightest danger to the Republic or the cause of free institutions, and fear of additional taxation ought not to change a proper policy in this regard.”
—William Howard Taft (1857–1930)
“Whether talking about addiction, taxation [on cigarettes] or education [about smoking], there is always at the center of the conversation an essential conundrum: How come we’re selling this deadly stuff anyway?”
—Anna Quindlen (b. 1952)
“Every diminution of the public burdens arising from taxation gives to individual enterprise increased power and furnishes to all the members of our happy confederacy new motives for patriotic affection and support.”
—Andrew Jackson (1767–1845)