INDEPENDENT NEWS

Company tax rates

Published: Wed 27 Aug 2014 12:34 PM
As New Zealand politicians promise more taxes, the US debates reducing Company tax
The Op Ed pages of the left-leaning New York Times are full of articles by economists supporting proposals to dramatically lower Company Taxes. These economists are urging the United States to lower company taxes and point to Canada where the lowering of company tax has increased the size of the economy - to the extent that the tax reductions are self- funding.
New Zealand now has a company tax rate that is higher than the European Community average. The evidence is that high company tax rates are one of the reasons why New Zealand's real wages are so low.
A 12.5 percent company tax rate could be immediately funded by eliminating corporate welfare and would grow the economy sustainably by at least an extra one percent of GDP per annum.
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