Dr Cullen is insisting we are not overtaxed and the obscene level of surpluses is merely due to keeping costs down.
As John Key points out we are paying 38% more in tax than when Labour took office.
There are many ways to increase the tax take. One way is to impose a new tax rate as Labour did. Another is simply not to adjust the tax brackets for inflation. Hence one now has 12% of workers on a marginal rate of 39%.