certainly agree with Capital Gains Tax which would hurt my wife and I as we have inherited wealth. We have to reverse decades of reducing taxes on the wealthy. Robert Reich explains it well: https://robertreich.org/post/647312846822227968
It often occurs to me that it must be great to be fabulously wealthy as there seem to be thousands of people, many with pulpits of various types, who will defend your right to accumulate obscene wealth to the death. Cool deal.
Certainly agree Nick and way past time the really wealthy and those companies who have made record profits pay more to support the country. Quite humorous the ANZ economist castigating workers for not saving enough when the ANZ takes millions out of the country. Perhaps if they paid more tax, and wages and salaries increased then people may be able to live a better life and even save something. However, capitalism is not meant to operate this way and is instead designed to channel the wealth upwards. Your post about Roger Douglas said to all.
"We are living in a world with ever growing inequality. Most people struggling with incomes that are not keeping pace with the spiralling cost of living. At the same time we have large corporations making record profits, and billionaires largely managing to avoid making a fair contribution."
So why IS it so hard for governments to introduce a wealth tax? Because proposing it would trigger a blizzard of lies from the very wealthy. And those lies would persuade the majority of NZers to oppose it. Even those who would benefit most from better funding for our social services.
Apr 11, 2023·edited Apr 11, 2023Liked by Nick Rockel
A timely topic but are there any among us who have not arranged our financial affairs to minimise taxation? Who among us would write an inform on a tax cheat? My wealthy neighbour and vocal National Party supporter skites about how he foiled the IRD inspectors for years but I would not inform on the doddery old fogey. Better I think to devise a transaction-tax at the point where money comes out of a bank account and goes to another. Why are "financial services" GST free and who benefits from that?
certainly agree with Capital Gains Tax which would hurt my wife and I as we have inherited wealth. We have to reverse decades of reducing taxes on the wealthy. Robert Reich explains it well: https://robertreich.org/post/647312846822227968
Yes, it's time.
It often occurs to me that it must be great to be fabulously wealthy as there seem to be thousands of people, many with pulpits of various types, who will defend your right to accumulate obscene wealth to the death. Cool deal.
Certainly agree Nick and way past time the really wealthy and those companies who have made record profits pay more to support the country. Quite humorous the ANZ economist castigating workers for not saving enough when the ANZ takes millions out of the country. Perhaps if they paid more tax, and wages and salaries increased then people may be able to live a better life and even save something. However, capitalism is not meant to operate this way and is instead designed to channel the wealth upwards. Your post about Roger Douglas said to all.
Nick you write this and we all know it's true:
"We are living in a world with ever growing inequality. Most people struggling with incomes that are not keeping pace with the spiralling cost of living. At the same time we have large corporations making record profits, and billionaires largely managing to avoid making a fair contribution."
So why IS it so hard for governments to introduce a wealth tax? Because proposing it would trigger a blizzard of lies from the very wealthy. And those lies would persuade the majority of NZers to oppose it. Even those who would benefit most from better funding for our social services.
Yep, definitely time!
Bye bye hoskbys
A timely topic but are there any among us who have not arranged our financial affairs to minimise taxation? Who among us would write an inform on a tax cheat? My wealthy neighbour and vocal National Party supporter skites about how he foiled the IRD inspectors for years but I would not inform on the doddery old fogey. Better I think to devise a transaction-tax at the point where money comes out of a bank account and goes to another. Why are "financial services" GST free and who benefits from that?
A question, how much money do you actually need ? lets face it Death comes to us all and you certainly cannot take it with you.
It's time.
It's way past time.
A couple of things... Great piece of writing and I totally agree. Who even needs to be a billionaire? Sigh...
And a super little musical clip. Fond memories of being in the chorus of Fiddler on the Roof with Nelson Operatic Society in 1977!
Yes agree!!
An excelant thought piece, thank you.
Love the music. Saw Fiddler on the Roof many years ago and never forgot that song.