3 ms·
It's two major islands, closer to 5 million people, and we have a sales tax ("goods and services" or GST) of 15% that applies to everything, even groceries or i
by lacampbell 10y ago
It's two major islands, closer to 5 million people, and we have a sales tax ("goods and services" or GST) of 15% that applies to everything, even groceries or imported electronics. This of course largely hits the working class. The rich don't rely on getting income from generating real value here - income tax is far too high. The key to becoming wealthy is to invest in property and rent it out at exorbitant prices to working class people.
- kristopolous 10y agoSorry, didn't know it was two islands ... shows my ignorance. I really don't know of New Zealands' economic structure. The argument I was trying to put forth is that there's a broader context that has exogenous influence upon any society and by extension, its economy. I could have a broader discussion on taxation if you want, but I find it's important to establish, and agree, upon a number of facts before those can start being productive. It's a long haul conversation.