Friday, May 12, 2006

New Zealander's pay less tax

That's right - there is actually one tax where we are now paying less than predicted: petrol taxes.
Stuff reports: petrol tax revenue 2.9 per cent less than predicted in the nine months to the end of March, and road user charges, mainly from diesel vehicles, 4.3 per cent below forecast.

To me this is a great thing - it shows how the market is far more efficient than political interference, and more importantly it shows that higher taxes can lead to a drop in revenue.
Wow - that may come as a surprise to some of those left wingers who continue to think that dropping taxes necessitates a drop in revenue...
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