I don't think a wealth tax would drive our billionaires overseas (we should be so lucky). Foreign billionaires are queueing up to come here. But they'll be sure to send their wealth overseas...
I agree Nick, a wealth tax would be beneficial! Though we also need to look at the tax system as a whole too, as recent research shows the wealthy in NZ are paying around 10% in tax, while the rest of us pay considerably more as "ordinary kiwis". Perhaps more people need to understand what tax is for. I like the MMT (Modern Montery Theory) people's view one of those principles is to ensure we don't get the huge disparity we're seeing now.
Absolutely Nick this is a must policy when the left bloc gain power. As you say imagine all of those things that could be achieved in one year let alone over many years. So much wealth increase when, I thought I read, another 50000 more ended up in poverty over the last year. Says it all really because this wasn’t their choice as the plastic polluter implies.
Chloe was on RNZ yesterday afternoon being interviewed about the Greens tax policy announcement on Sunday, she was brilliant,focused, incisive and she had the answers for the inevitable push back. The feedback following the interview was very positive.
Time to be brave,radical and change the country for the better.
I've always been impressed by her. From time to time I see vox pops on social media on the left asking people to choose between Hipkins and Luxon for PM. I always think neither, it's Swarbrick for me. It's not going to happen but I would love to see Chloe as deputy PM in a coalition government, encouraging Hipkins to turn left.
The same as it ever was - humans have been literally brainwashed to believe money is good and great and the greatest have a lot of it. Our general concept of worth is completely false! Worth, or value, can only attribute to goods and services necessary for human existence - money is a token of exchange for those goods and services. Humans cannot consume more than is required for life to exist. The millions that a small percentage of the population have initially comes from the labour input of the global population as the few with a lot can only exist when the lot provide.
We must learn a reality and re-train our brains to understand reality and not fiction. For this century, and those to follow, we must learn that value is not an attribute of money.
People who have done extremely well in New Zealand have achieved their success by benefitting from their New Zealand lifestyle, for example: free healthcare and education, the employment of an educated workforce and use of infrastructure etc. All things paid for by our taxes. They have benefitted from our way of life so too right they should contribute more. They have a lot to thanks us for, not least their riches!
It is a very attractive idea to a leftie like me. And I don't really give a toss if the likes of Nick Mowbray or Peter Beck, or the Xero sexual harasser bugger off. It's just the realpolitik of it. For this to become real we have to win power. Given Nicola's hissy fits and the media following suit, we have a mountain to climb. What I am pleased about is Labour's unequivocal pledge from Chippy to restore pay equity in his interviews today. I think we keep it real and not get diverted by arguments about tax. Just not yet.
Look how popular the New York mayor Mamdani is for introducing that tax which is helping fund housing and free child care. Do we want billionaires in Aotearoa who think a wealth tax is unfair?
And all the time we keep hearing how extreme Green's economic policies are! Or what large financial holes there are in Labour's. If we had an unbiased press and media the right would be annihilated and the left wing bloc would be looking at a total landslide come November. Those with communication monopolies have taught kiwis to despise themselves and to honour these disgusting rich pricks
This is a read that I have found most interesting. I have been asking myself the question of when is enough money enough? Someone has made more money than they can ever spend or need, perhaps started with nothing, but have accumulated enough wealth to setup their children for success in their lives, maybe grandchildren with the right investments. Their children start at this point of wealth, so thereby not having the same ‘struggles’ to acquire the wealth, so their mind set is different from their parent for the need to make money to have security, to better their life and that of their children. The family now has a massive investment portfolio, but still their sole purpose when they wake up each day is to make more, and more money. We are all going to die, and as they say ‘you can’t take it with you’. So my question to myself has been ‘when does that mindset change, the fact that I have more money than I, my children or even grandchildren could need, but the goal is to still make more, and more, but along the way making sure any ‘ladders’ that helped me get here, are pulled up so no-one else can follow. Why? Sorry for the long post but maybe someone can explain it to me.
Agree wholeheartedly we urgently need a wealth tax. I truely believe that if such a policy along; with the following proposed policy/mandates by Bryce Edward’s, the Party Would Romp In -
‘independent Public Appointments Commissioner; mandatory cooling-off periods; stronger conflict-of-interest rules; pre-appointment hearings for key public roles; the Cabinet Manual should be updated to make clear that donations to a political party create a presumptive conflict when the donor is being considered for appointment by a minister from that party; First, former-MP travel perks should be sunset, not merely allowed to disappear by attrition. Surviving-spouse entitlements should end, except where there is a clear official role.
Second, accommodation allowances should return to receipted reimbursement of actual costs. A receipt is the line between a cost and a windfall.
Third, MPs should not be able to claim accommodation support on property they, their spouse, their trust, or their private superannuation scheme owns. As Coughlan argues, an MP claiming public money for accommodation or premises that they or a related entity own is the nub of nearly every expenses scandal of the past decade — “It’s within the rules now. But it shouldn’t be. - But celebration is not scrutiny. The democratic test is whether the public can see how this wealth interacts with power. Who funds the parties? Who owns the companies writing the cheques? Who meets ministers? Who gets fast-track approval? Who receives public subsidy? Who pays tax at what effective rate?
These questions should not have to be answered through occasional leaks, annual donation returns and the heroic archaeology of journalists. They should be built into the system: real-time donation disclosure, a lobbying register.’ and so on.
Fourth, parliamentary superannuation schemes should not be allowed to hold residential property while the beneficiary is an MP or minister.
Fifth, Parliamentary Service should be brought under the OIA, with itemised quarterly disclosure of travel, accommodation, former-MP benefits, former-PM benefits, spouse benefits and fringe-benefit tax.
MPs are unlikely to clean this up unless voters force them to. So in an election year, every candidate should be asked the same question: will you end the old travel perks, close the super-property loophole, publish the receipts, and stop MPs being their own landlords?
The issue is not whether MPs deserve support to do their jobs. They do. The issue is whether New Zealand still wants to fund a political class that writes one welfare system for itself and another for everyone else. If a perk cannot survive daylight, it should not survive reform.’
Thanks Chloe. I haven't heard it put so simply, so succinctly. New Zealand's 'Cost Of Living Crisis' is actually a 'Cost of Greed Crisis'. I'll vote for your 'Wealth Tax'.
I don't think a wealth tax would drive our billionaires overseas (we should be so lucky). Foreign billionaires are queueing up to come here. But they'll be sure to send their wealth overseas...
I agree Nick, a wealth tax would be beneficial! Though we also need to look at the tax system as a whole too, as recent research shows the wealthy in NZ are paying around 10% in tax, while the rest of us pay considerably more as "ordinary kiwis". Perhaps more people need to understand what tax is for. I like the MMT (Modern Montery Theory) people's view one of those principles is to ensure we don't get the huge disparity we're seeing now.
Jonathan Pie is great! Vehemently vituperative and so passionate.
Great post Nick. I hope Labour are brave enough to take on the same tax policy as the Greens.
Absolutely Nick this is a must policy when the left bloc gain power. As you say imagine all of those things that could be achieved in one year let alone over many years. So much wealth increase when, I thought I read, another 50000 more ended up in poverty over the last year. Says it all really because this wasn’t their choice as the plastic polluter implies.
Chloe was on RNZ yesterday afternoon being interviewed about the Greens tax policy announcement on Sunday, she was brilliant,focused, incisive and she had the answers for the inevitable push back. The feedback following the interview was very positive.
Time to be brave,radical and change the country for the better.
I've always been impressed by her. From time to time I see vox pops on social media on the left asking people to choose between Hipkins and Luxon for PM. I always think neither, it's Swarbrick for me. It's not going to happen but I would love to see Chloe as deputy PM in a coalition government, encouraging Hipkins to turn left.
Hi Gavin, yes we can only hope. It would be a great result
Absolutely agree. Cmon Labour be bold and stop pussyfooting around. The only party talking about a wealth tax are the greens.
So party vote Green- I will be.
Let’s make this transactional. Those paying the wealth tax automatically earn a plastic toy knighthood - LMNZ (limp member from Aotearoa)
The same as it ever was - humans have been literally brainwashed to believe money is good and great and the greatest have a lot of it. Our general concept of worth is completely false! Worth, or value, can only attribute to goods and services necessary for human existence - money is a token of exchange for those goods and services. Humans cannot consume more than is required for life to exist. The millions that a small percentage of the population have initially comes from the labour input of the global population as the few with a lot can only exist when the lot provide.
We must learn a reality and re-train our brains to understand reality and not fiction. For this century, and those to follow, we must learn that value is not an attribute of money.
People who have done extremely well in New Zealand have achieved their success by benefitting from their New Zealand lifestyle, for example: free healthcare and education, the employment of an educated workforce and use of infrastructure etc. All things paid for by our taxes. They have benefitted from our way of life so too right they should contribute more. They have a lot to thanks us for, not least their riches!
It is a very attractive idea to a leftie like me. And I don't really give a toss if the likes of Nick Mowbray or Peter Beck, or the Xero sexual harasser bugger off. It's just the realpolitik of it. For this to become real we have to win power. Given Nicola's hissy fits and the media following suit, we have a mountain to climb. What I am pleased about is Labour's unequivocal pledge from Chippy to restore pay equity in his interviews today. I think we keep it real and not get diverted by arguments about tax. Just not yet.
Look how popular the New York mayor Mamdani is for introducing that tax which is helping fund housing and free child care. Do we want billionaires in Aotearoa who think a wealth tax is unfair?
And all the time we keep hearing how extreme Green's economic policies are! Or what large financial holes there are in Labour's. If we had an unbiased press and media the right would be annihilated and the left wing bloc would be looking at a total landslide come November. Those with communication monopolies have taught kiwis to despise themselves and to honour these disgusting rich pricks
🎯🎯🎯
This is a read that I have found most interesting. I have been asking myself the question of when is enough money enough? Someone has made more money than they can ever spend or need, perhaps started with nothing, but have accumulated enough wealth to setup their children for success in their lives, maybe grandchildren with the right investments. Their children start at this point of wealth, so thereby not having the same ‘struggles’ to acquire the wealth, so their mind set is different from their parent for the need to make money to have security, to better their life and that of their children. The family now has a massive investment portfolio, but still their sole purpose when they wake up each day is to make more, and more money. We are all going to die, and as they say ‘you can’t take it with you’. So my question to myself has been ‘when does that mindset change, the fact that I have more money than I, my children or even grandchildren could need, but the goal is to still make more, and more, but along the way making sure any ‘ladders’ that helped me get here, are pulled up so no-one else can follow. Why? Sorry for the long post but maybe someone can explain it to me.
Agree wholeheartedly we urgently need a wealth tax. I truely believe that if such a policy along; with the following proposed policy/mandates by Bryce Edward’s, the Party Would Romp In -
‘independent Public Appointments Commissioner; mandatory cooling-off periods; stronger conflict-of-interest rules; pre-appointment hearings for key public roles; the Cabinet Manual should be updated to make clear that donations to a political party create a presumptive conflict when the donor is being considered for appointment by a minister from that party; First, former-MP travel perks should be sunset, not merely allowed to disappear by attrition. Surviving-spouse entitlements should end, except where there is a clear official role.
Second, accommodation allowances should return to receipted reimbursement of actual costs. A receipt is the line between a cost and a windfall.
Third, MPs should not be able to claim accommodation support on property they, their spouse, their trust, or their private superannuation scheme owns. As Coughlan argues, an MP claiming public money for accommodation or premises that they or a related entity own is the nub of nearly every expenses scandal of the past decade — “It’s within the rules now. But it shouldn’t be. - But celebration is not scrutiny. The democratic test is whether the public can see how this wealth interacts with power. Who funds the parties? Who owns the companies writing the cheques? Who meets ministers? Who gets fast-track approval? Who receives public subsidy? Who pays tax at what effective rate?
These questions should not have to be answered through occasional leaks, annual donation returns and the heroic archaeology of journalists. They should be built into the system: real-time donation disclosure, a lobbying register.’ and so on.
Fourth, parliamentary superannuation schemes should not be allowed to hold residential property while the beneficiary is an MP or minister.
Fifth, Parliamentary Service should be brought under the OIA, with itemised quarterly disclosure of travel, accommodation, former-MP benefits, former-PM benefits, spouse benefits and fringe-benefit tax.
MPs are unlikely to clean this up unless voters force them to. So in an election year, every candidate should be asked the same question: will you end the old travel perks, close the super-property loophole, publish the receipts, and stop MPs being their own landlords?
The issue is not whether MPs deserve support to do their jobs. They do. The issue is whether New Zealand still wants to fund a political class that writes one welfare system for itself and another for everyone else. If a perk cannot survive daylight, it should not survive reform.’
Thanks Chloe. I haven't heard it put so simply, so succinctly. New Zealand's 'Cost Of Living Crisis' is actually a 'Cost of Greed Crisis'. I'll vote for your 'Wealth Tax'.