We are about to be assailed once more with the National Business Review’s Rich List – the annual fawning over the super wealthy and how more “successful” they have become this year.
Here’s how NBR Editor Duncan Bridgeman shares his personal excitement over the 2017 celebration of theft from the commons:
Overall he (Duncan Bridgeman) said the list showed that New Zealand had become the land of opportunity for entrepreneurs and risk-takers.
“I think it’s continued boom times for the rich, the rich get richer and the rich are having a really successful period at the moment.”
According to Bridgeman New Zealand’s super wealthy have increased their wealth by $7 billion over the past year to a total of $80 billion.
Think about that for a moment. Wealth is not created from thin air. It is made from manipulating the wealth created by working people. In other words, you and I and every person living in New Zealand has been fleeced $1,489 more this past year so these bloodsuckers can build a bigger pile of unearned income. And they don’t pay tax on it.
It’s the inevitable result of corporate capitalism – a vile system of shame and blame for people of low incomes alongside the adoration of the small group of our biggest parasites.
Last week we had the flip side of the Rich List. The admission by Metiria Turei that as a beneficiary earlier in her life she had to lie to survive on a benefit under the same economic regime that has spawned the naked, selfish greed of those on the Rich List.
Here are a few simple facts:
The super wealthy:
- Pay virtually no tax (IRD tell us half the Rich List don’t even declare an income of $70,000 where the top tax rate cuts in)
- Pay less than 5% of their income on GST (less than 1% for most on the rich list)
- Use our roads, health and education systems when it suits them (but they don’t pay for any of it)
- Don’t pay capital gains tax
Those on benefits:
- Pay 12.5% of their income in taxation
- Pay 14% of their incomes (after-housing costs) on GST
The question at the head of this article is not a trick question. It reflects an obscene tragedy.
Most of us pay tax on every dollar we earn and every dollar we spend. The rich pay virtually nothing.
If you are on a low income or a benefit, the only thing you know for sure is that you pay more tax than the bludging bastards on the rich list.