We agree with Brian Fallow in this morning's NZ Herald
The other thing that would encourage more capital investment, especially among the vast mass of small and medium businesses which generate most of the employment and which are often unincorporated, would be a drop in the top personal tax rate.
National says its medium term goal is a top rate of 33c in the dollar which kicks in at $50,000.
It is not clear what "medium term" means, but the plan released today only nibbles at the top rate. It would still be 37c in the dollar from April 2011, with a $70,000 threshold.
