Absolutely great read from Bernard Hickey on Hipkins’ wealth tax announcement and the treasury report released yesterday:
That’s it. It will now be almost impossible for a wealth or capital gains tax to be implemented within the next decade or two.
The future of Aotearoa’s political economy will now remain frozen in its stagnant, unequal, unjust, unproductive and unhealthy state for the forseeable future. That’s what our leaders, and ultimately the only voters that matter, have decided. Those hoping to change that frozen landscape should now look after themselves and their families, and/or hope and work for an electoral miracle that gives parties who want such taxes dominant positions in any post-election negotiation.
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Here’s my voting struggle.
According to a political compass test I did last election, I’m most closely aligned to the policies of NZ first. I refuse to vote for them because they’re headed by an immoral, racist, unethical, racing-industry-owned scumbag.
I’d vote greens except they’re fighting hard to take the “most racist party” crown from Winnie.
I’d vote TOP except they don’t exist outside the internet - none of my family or friends have ever heard seriously of their policies or what they stand for and it feels like a losing battle to get them to even 1%.
I’m not the right ethnicity to vote for te pati Maori, they don’t want my vote.
And then labour completely lack the balls to actually make any form of change - they allegedly mean well but fuck it all up so badly it’s worse than if nact were in power.
So I’m left with national and act as the least bad?
I want to see change but I’m so damn tired and worn out from trying to stay afloat that I can’t be the change I want to see.
I wonder how many other median voters feel the way I do…?
Then vote TOP, at least you vote on principal…
LOL. Calling the greens a racist party made you lose any credibility you might have had.
Yep, you’re right. I’m a cis white male and therefore I’m the cause of all the world’s violence plus my opinions aren’t worth anything. Thank you for showing me the light!
Their co leader has made statements that are objectively racist, they haven’t made her apologize or step down. They’re a racist party.
Their co leader has made statements that are objectively racist, they haven’t made her apologize or step down. They’re a racist party.
Which racist policies are they proposing?
Maybe you are the one that’s racist. Ever consider that?
Ooh, sick burn. Ouch, my feelings.
You sure are a sensitive fragile special snowflake aren’t you?
Labour are not as bad as if National/act were in power. It’s not even close. They’re streets ahead on the employment space alone.
Greens are absolutely not the most racist party in Parliament, not with the Maori bashing National and act get up to. Their tax plan is also the best any party has to offer for everyone except those with more than net $4 million in assets (I.e. 99% of the population) and it would be real, positive change if implemented. It’s worth supporting.
https://www.stuff.co.nz/national/4000714/Meet-the-whanau-the-perils-of-dating-a-Harawira
Mr Harawira drew condemnation from Race Relations Commissioner Joris de Bres and Prime Minister John Key last week after saying in an interview that he “wouldn’t feel comfortable” if any of his seven children came home with a Pakeha.
Definitely not the most racist, no.
Anyone else willing to believe that they can’t do a wealth tax due to some back room discussion with political donors who are all standing to lose if it goes through? Seems plausible no?
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Personally, I’m opposed on principle to taxing someone just for having something. Tax economic activity, sure, but I dislike the concept of a wealth tax.
Same with land value tax, it’s just a bad principle.
It’s really not, it’s the main way we’ve broken up mass inequality and uneven power distribution in the past.
Why should simply owning things be more lucrative than producing things? Our entire system is geared to the former at the moment and as Bernard says, our economy is a housing market with bits tacked on as a result
Bernard’s being a tad dramatic, don’t you think?
Besides, if owning something is lucrative, tax the earnings.
That seems to be his thing, yes but there’s a lot to it. Capital gains tax and inheritance tax would fit the bill of taxing the earnings.
But really the end goal is to not allow enormously concentrated wealth to accrue in the first place because it completely fucks up society and the power that comes with it makes it self-reinforcing.
The only serious proposition for wealth taxes right now are very small rates (the wealth tax labour was apparently kicking around was 1.5%) and would only kick in at amounts above what the vast majority of people will ever see in their entire lifetimes.
The fact that would provide massive amounts of desperately needed funding for schools, hospitals and other public services shows how fucked up the balance of wealth in this country is.
Inheritance tax isn’t taxing earnings, it’s more like taxing a gift. Someone has built that wealth, paid tax on those earnings, and now that they want to pass that onto their children, the government wants another bite.
It’s wrong, in my view. The underlying principle is wrong.
That’s true to a point. The solution is to make it kick in at amounts above what most people will pass on and as a result you prevent dynasties forming that damage society and over time, amass so much wealth that eventually mean others can’t build up anything to pass on to their children.
Being against inheritance taxes outright is actually worse for the outcomes you want.
The solution is to make it kick in at amounts above what most people will pass on
I’m also not a fan of this type of thinking either. If it’s wrong to do, it’s wrong to do it to anyone. The whole “it’s only x% of the population” argument just makes me uneasy.
