The Greens have paused in their alienating woke middle class virtue signals and read The Daily Blog and finally are talking about the economy rather than free the nipple.
The Daily Blog has been arguing all year that the tax yoke needs to be lifted from working people and placed upon the corporations who are making obscene profits!
These bloody banks are making obscene profits at a time when we are struggling to rebuild post Covid.
It is not acceptable for citizens of Aotearoa to bear the yoke of taxation while corporations manipulate monopoly, duopoly and oligopoly structures to milk rentals like this from New Zealand!
ANZ made $2billion in profits???
ANZ records first $2b profit: ‘Keeping close eye on recent home-buyers’
ANZ’s chief executive says the bank is keeping a close eye on borrowers who were stress-tested for their home loans at a rate below current market interest rates.
The country’s largest bank posted its first $2 billion annual profit on Thursday.
In the 12 months to September 30, it made a cash net profit after tax of $2.064b, up 8% compared with the year before. Its statutory net profit after tax, which includes gains and losses from economic hedges, was $2.229b, up 20%.
Net interest income was up 10%. Chief executive Antonia Watson said the 8% increase in profit was a result of a combination of pent-up economic activity after the pandemic and a buoyant housing market.
As interest rates rise and a global recession looms, NZ’s corporates continue to make disgusting monopoly rentals from our economy!
Why on earth are we not talking about the obscene wealth the NZ Banks have made over Covid?
ASB made $1.4billion in profit…
ASB bank posts increased annual profit of $1.42 billion
…and the Banks collectively made $6billion in profit…
Record profit: NZ banks made over $6 billion in 2021, KPMG report
…while charging Kiwis $5billion in interest…
Banks post record profits and close in on $5 billion in interest income as mortgage costs spiral
…why aren’t we hitting them with a windfall tax so we can rebuild the infrastructure that will allow us to grow back from Covid?
Britain passed windfall tax on Gas and Oil profits, why can’t we do it on our banks?
We have survived a once in a century pandemic, but if this Government refuses to use the MMP majority they gained from the 2020 election to actually challenge the power of the richest and most powerful to lessen the tax burden on the poor, then what was the point of winning in 2017?
I’m not looking for socialism from Labour any longer Grant, just basic regulated Capitalism and when corporations gain the type of dominance the 4 Australian Banks have, there is an obligation to step in.
Tax the Banks with a windfall profit tax and put that money into building capacity in our social infrastructure.
Do the Greens have the mana and trust to be able to pass this idea? Of course they don’t, they are too focused on cancelling heteronormative white cis males for not cycling while singing Te Reo, but in this bland madness of identity politics where the Left endlessly cancel while unregulated Capitalism runs amok, it’s a great first step.
We need to be kinder to individuals and crueller to corporations.
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Good on Greens–someone has to provide leadership and at least put “Windfall” tax for corporate bludgers on the public agenda so people can think about it and support the idea or not.
“Windfall” cuts no ice with Jacinda Ardern or the most of the Labour Caucus however according to RNZ this morning, so give the Greens some love people. Corporate price gouging is a major element of current inflation–don’t buy the Reserve Bank/Orr narrative–“unemployment must go up for inflation to drop”–like fuck it does! Put the heat on the employing class where it belongs.
Have we reached the ultimate stage
of absurdity where some people are
held responsible for things that
happened before they were born,
while other people are not held
responsible for what they
themselves are doing today?
Not quite. Should be there by Thursday week.
I’m still waiting for pigs to fly.
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