“the larger the percentage of the national income taken by taxes the greater the deterrent to private production and employment. When the total tax burden grows beyond a bearable size, the problem of devising taxes that will not discourage and disrupt production becomes insoluble.”
― Henry Hazlitt
So what we have been told for decades now is that paying tax is good but paying too much tax is not good.
How do you pay tax but not too much tax?
You pay the amount of tax that you must but as Kerrie Packer used to say “never a cent more”
I agree…especially when you see what some of the tax money is being wasted on these days.
In fact I was talking with Real Estate Developer Kenyon Clarke just the other day and we were discussing his brand new project in Auckland. This project is going to be a real money earner for people who invest in it and yet, those very same people will actually get tax deductions because they own the project.
Now that is a great investment to have.