A 15% Transactional Tax on everything instead of most other taxes

A 15% Transactional Tax on everything instead of most other taxes

ON REFLECTION THIS TAX WOULD MORE LIKELY BE 2.5-5% DUE TO IT'S CUMULATIVE NATURE THROUGH THE SUPPLY CHAIN. This would take over almost every other direct tax (income, gst, company etc etc). With this type of tax the majority of people would pay a lot less tax but the people using avoidance tactics would be made to pay their share. This tax would be on every transaction: Wages, Purchases (including house purchases & imports), Bonuses, Interest, Owner drawings, inheritance, even donations should be included so companies couldn't use that to bypass the laws. There would be no exemptions, reductions, claiming back or any version of avoidance. Money only has value once it's spent. No entity would be able to get around it. Churchs, religious & charitable entities are supposed to want to help the community so there's no need for them to be exempt. If everyone pays their fair share there should be more money to go around & the total Government revenue would increase to cover social requirements (of which there are many)

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    • Tim O’Donnell
      commented 2016-12-10 00:11:20 +1300
      Sorry, I didn’t actually check the name before posting. Here’s a link. http://www.top.org.nz/63114/a_simple_transactional_tax_that_can_t_be_avoided_or_claimed_back
    • Robert Murray
      commented 2016-12-09 21:06:50 +1300
      Tim, couldn’t find the thread “How would you make NZ more equal” But I agree TOP1 is a dog.
    • Tim O’Donnell
      commented 2016-12-09 20:16:41 +1300
      Thanks Robert. I disagree with the tax policy offered so I will continue to advicate for something different. In the thread “How would you make NZ more equal” I have covered your thoughts
    • Robert Murray
      commented 2016-12-09 09:40:30 +1300
      Just be careful about the rate. While I agree it could be quite low (as little as 1%) when Sweden introduced something similar the number of transactions reduced hugely. If it is set high initially any surplus could be used to reduce debt and its far more acceptable to reduce a tax than increase it. Bit academic now with TOP tax policy announced
    • Tim O’Donnell
      commented 2016-12-09 08:55:04 +1300
      After further thought this tax would be quite low (2.5-5%). Since it’s cumulative along the supply chain it would gain revenue very quickly
    • Chelsea Finnie
      tagged this with dislike 2016-12-03 23:10:36 +1300
    • Robert Murray
      commented 2016-11-30 23:46:07 +1300
      Agreed – similar to my suggestion: Tax
    • Tim O’Donnell
      tagged this with essential 2016-11-29 21:25:41 +1300
    • Nathan Rattray
      tagged this with interesting 2016-11-29 12:05:44 +1300
    • Tim O’Donnell
      published this page in Suggestions 2016-11-27 19:44:30 +1300