Tax bill doubles for women

Helen Clark’s 39-cent envy tax will hit 100,000 women within the next two years, a 117 percent increase since 2001, ACT Leader Rodney Hide revealed today.

Information provided to Mr Hide by Treasury shows 100,000 women will earn $60,000 by 2007, compared to 46,000 in 2001.

The number of men earning $60,000 and paying the 39-cent tax rate will increase by 76 percent during the same period, from 157,000 to 277,000.

“When Labour introduced the top tax rate of 39 cents, they said it would only affect 5 percent of the population.

“Finance Minister Michael Cullen has reaped a windfall as inflation and growth has pushed taxpayers into higher tax brackets. That windfall has been at the expense of thousands and thousands of women.

“He has broken his 5 percent promise. Now 11 percent of taxpayers are paying the 39 cents in the dollar tax rate and this is projected to increase to 12 percent by 2007/2008. But women, more than anyone else should feel betrayed,” Mr Hide said.

“Dr Cullen thinks people earning over $60,000 a year are rich! He is saying teachers, policewoman and nurses are rich.

“The average family income has been static since Labour came to power. Inflation and tax have seen to that by taking any extra income. They are earning more but what they get to keep buys exactly what it bought five years ago.

“ACT is the only party who will get ride of the 39-cent tax rate to ensure that people who have worked hard to earn more money get to keep more of it,” Mr Hide said.

ENDS

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