paul reynolds

A Budget for the rich, by the rich

Written By: notices and features
Date published: - 141 comments

Telecom Paul Reynolds’ $290,000 ‘rich guy bonus’ alone is enough to hire six nurses or teachers. It’s enough to pay for 40,000 hours of early childhood education. It’s the added GST bill for some 400 typical Kiwi workers.

As expected this man, earning $7 million a year, has been given a tax break more than 200 times bigger than that of the average Kiwi worker.

Update: Key has spent up large in his irresponsible tax cuts for the rich. We’ll be paying for this for decades to come. What happened to the fiscal conservatives in the National Party?

I got it wrong: tax cuts for rich even bigger

Written By: Marty G
Date published: - 100 comments

I made a mistake in my calculations of the effects of the leaked tax reforms. In the corrected numbers, the poor get less, the rich get more. The wealthiest 13,000 taxpayers get a quarter of a billion in tax cuts between them – nearly $20,000 a year each. The poorest half $1.25 a week and higher rents to pay. This ‘tax reform’ package is really a mask for a wealth grab from the many to the few.

‘Atlases’ don’t deserve a tax cut

Written By: Marty G
Date published: - 67 comments

This man is Paul Reynolds, CEO of Telecom. He has overseen the largest corporate disaster in recent New Zealand history. The Nats are planning to give him over $6,600 a week in tax cuts. Apparently this screw up on a $7 million salary is the kind of guy New Zealand needs.

No pay freeze at the top

Written By: Eddie
Date published: - 11 comments

It seems the trend of rewarding company bosses with extravagant pay rises regardless of performance isn’t limited to Telecom’s $7 million man, Paul […]