Being on unemployment (about $300/week) benefit puts you in the *middle* 17.5% PIE bracket for your KiwiSaver, and some of your benefit now pushes in to the 17.5% income bracket, this is how outdated the brackets are, We should just adopt a 3 tier system like Sweden, the first below 20k bracket should be 0%, and the next bracket, say 15%, should go up to 100k, and then the rest 33%, And then adjust the inflation target to 0%, since there's zero evidence after 50 years that the 2% target is actually helping anything but asset prices go up.
Thanks for giving good insight
Being on unemployment (about $300/week) benefit puts you in the *middle* 17.5% PIE bracket for your KiwiSaver, and some of your benefit now pushes in to the 17.5% income bracket, this is how outdated the brackets are, We should just adopt a 3 tier system like Sweden, the first below 20k bracket should be 0%, and the next bracket, say 15%, should go up to 100k, and then the rest 33%, And then adjust the inflation target to 0%, since there's zero evidence after 50 years that the 2% target is actually helping anything but asset prices go up.
Wish you were on a podcast
Good news, we are on Spotify. Search for The Common Room.
This channel has woefully few subscribers compared to what it deserves.
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There's five minutes and five seconds I'll never get back.
No shit. Councils dont need to raise rates when they strangle housing supply the cost of houses go up and they get more rates that way.
Dont know many people on your so called average wage of $62.000,What fantasy land did this figure come from.