Inheritance taxes
Japan 55%
South Korea 50%
France 45%
United Kingdom 40%
United States 40%
Spain 34%
Ireland 33%
Belgium 30%
Germany 30%
Chile 25%
Greece 20%
Finland 19%
Denmark 15%
Iceland 10%
Turkey 10%
Poland 7%
Switzerland 7%
NZ 0%
ENVY the Rights scream at any challenge of their rigged capitalism.
Bernard Hickey has argued, “We could have gotten $200 billion in extra tax revenues if only there had been a fair tax system which meant that capital gains were taxed at the same rate as every other type of income.”
Envy? Oh no my dear wealth pimps, incandescent mother fucking rage is more where we are all at rather than basic bitch envy!
In a liberal progressive democracy, it doesn’t matter what role you play in the complex super structure of our society and economy.
It doesn’t matter of you are a garbage collector, a dr, a nurse, a drain layer, teacher or tradie – if you all stopped doing your jobs the system can’t work.
Everyone deserves to share the collective harvest of civil society with public services and policies focused on the public good enshrined in the intrinsic civil liberties each individual has.
Wealthy individuals who become mega rich thanks to the landscape generated by those values are required to pay more back into the system they have benefited from beyond the bare necessity of ruthless accountancy practices.
These rich pricks have designed the system for themselves, ‘you can’t tax unrealised capital gains’ the Right scream, like bullshit we can’t!
If it means the mega rich have to sell a mansion or two to pay the tax bill, so fucking be it!
The obligation of the Government is to regulate Capitalism so that we the people benefit from the competitive dynamics of competition!
We are not an over taxed, over regulated economy!
Our top tax rate is the 39th highest in the world behind all the Scandinavian countries plus Germany, the United Kingdom, Ireland, France and South Africa!
Australia’s top tax rate is 47cents!
Our GST rate doesn’t even get us into the top 50 and our corporate tax rate is 40th while Government spending against GDP ranks 56th!
And we are voted easiest to do business by the World Bank!
Total hours spent at work per year (OECD):
Germany- 1330
Denmark- 1346
Japan- 1598
Australia- 1683
Canada- 1644
UK- 1367
New Zealand- 1739
I’m not looking for socialism here folks, just basic garden variety regulated capitalism!
There are 14 Billionaires in NZ + 3118 ultra-high net worth individuals, let’s start with them, then move onto the Banks, then the Property Speculators, the Climate Change polluters and big industry.
You should be angry, NZ Capitalism is a rigged trick for the rich and powerful. The real demarcation line of power in a western democracy is the 1% + their 9% enablers vs the 90% rest of us!
Do not allow their smears of ‘Envy’ dilute the righteous rage you should all be feeling!
There’s no point making workers pay more to rebuild our resilience, tax the rich!
-Sugar Tax
-Inheritance Tax
-Wealth Tax
-Financial Transactions Tax
-New top tax rate on people earning over $300 000 per year.
-Capital Gains Tax
-Windfall profit taxes
-First $10 000 tax free
Lift the tax yoke from the workers and the people and place it on the mega wealthy and have them pay their fair share for once!
The true demarcation off power in a liberal progressive democracy is the 1% wealthy + their 9% enablers vs the 90% rest of us.
Stand. Stand now and demand more from this rigged capitalism!
The political project of National and ACT is to starve the State of revenue so that it can’t redistribute wealth in the first place.
For those rich pricks screaming they are self made and fuck us for wanting a slice of their bread to properly fund society, let’s remember the email Steve Jobs sent to himself before he died…
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Envy versus greed. Ultimately, eventually, it will come down to use of violence.
“In the contest between altruism and self-interest, always back self-interest. At least you know self-interest will be trying.”
Australian PM Paul Keating, who ascribed it to NSW politician Jack Lang.
First election primaries are rigged. Then the Yellow Vests get beaten and fired upon by the police. General strikes are called. All that is left is for the military to be called in as strike breakers, and for the dissenters to be jailed for “insurrection”.
It’s not the use of violence it’s the threat of violence. New Zealanders have become so non threatening rich and powerful elites just push them out of the way. Hell I even got the fuck out when Auckland tragic jams got rediculous now it must be overwhelmingly obvious how elites are rigging the system, sowing chaos and keeping you Muppets destabilized. Even rate payers vote against there own best interests.
“Envy versus greed”.. So, you either didn’t read the article properly, or are a sucker for tory game playing… I personally feel no “envy” for those born with a silver spoon in their mouths.. I feel pity, and contempt for their utter lack of perspective on reality, and their casual, unthinking bigotry…
And before you start up with some idiotic and abusive rant, I went to school with the children of some of the most wealthy and powerful families as a result of my father acquiring a state house in Remuera, and me moving in with him at the age of seven.. So I speak from bitter experience about the quiet way I was excluded from the “networks” purely because I was from Otara..
These {people” were more than happy to bask in the reflected glow of my athletic/sporting prowess (I represented my school/district/city at nearly everything I tried, which, of course was accepted as I was “common” so sports and physical work suited me…
Nobody I have known in my six decades on this planet has ever expressed “envy” towards the rich to me… People are generally contemptuous of those who, given an armchair ride through life, insist on being treated as more deserving than any others… These people will be valued for the amount of fat they carry on their bodies once the shit hits the fan properly, and thus they will finally provide sustinance to the poor…
Okay, but the promise from the government is, no wasting taxpayer money.
And since Michael Wood is topical, politicians like him who demonstrates he thinks the taxpayer is a bottomless pit of funds need to be banned the moment they waste our money!
Visited our Saudi sheep farm lately?
The ‘rich’ are ‘pricks’ but it’s not envy you feel? How about resentment?
Ada I feel resentment when an X Prime Minister is interviewed by none other than Paula Bennett, I feel resentment when Stephen Joyce picks up a million dollars from a university ( always crying poverty ) when the national party mantra is no more consultants ( last I heard universities were funded by governments). I feel resentment when the leader of the opposition calls a section of society “ bottom feeders” and I feel resentment when he expects the bottom feeders to pay for their contraception and have more babies. I feel resentment when a wannabe PM calls this a joke . I feel resentment when the wannabe PM calls abortion murder . I feel resentment when wealthy people aka Ian Taylor of “play school fame” lectures us on tax fairness . You are right for a change Ada , resentment does on good this bright sunny winter morning in cold winey Aotearoa.
Brilliant as always Queeny
Thanks for the reply Queeny.
That’s a lot of resentment – careful it doesn’t eat you up mentally.
No Ada even for you the truth must hurt sometimes
And for a more considered, less shouty POV from someone who actually creates jobs and wealth for others:
https://homepaddock.wordpress.com/2023/06/13/did-you-see-the-one-about-95/
That excellent piece also highlights another issue at the end when it mentions the amounts spent on health and education. Namely that even if the amount of revenue Martyn rhapsodises about is actually raised it’s very difficult to have confidence that it will be wisely spent.
Man it’s cheap to be rich in New Zealand. How did that happen?
Envy, pure & simple.
Get a job, work hard & save your pennies. You can get there too.
The collapse in real wages since 1975 siphoned $47 trillion from the working class to large capitalists in 99th percentile (Time Magazine, Vol. 196, No. 11)
No comment what a stupid statement, many many people work hard all their lives but never get to be millionaires. If we were all millionaires we wouldn’t have any workers and without the actual workers there would be no millionaires.
Have you considered property investment? Mining?
ideolog
Greed, pure and simple.
We are incentivised to save by government. Incentivised greed!!
The government is to be blamed, pure and simple.
Greed is at the behest of the individual. To minmalise it by blaming government is a typical deceptive ploy to shift blame from personal responsibility. After all isn’t that what the right are all about, pure and simple?
Blaming the government is easy and lazy.
Great piece of satire, MHK….
Yes your posts are Johanas. Thank you.
It’s the work of the devil conving poor people that there interests are the same as the 1%.
What are they gonna do when all the rich people leave? Get a job?
Norway’s tax take decreased after it introduced a wealth tax, so the poor will be worse off, but don’t let facts get in the way of ideological hatred.
Yep, we need to tax the tax dodgers, those that use their money to dodge paying tax. But invoking such terminology as ‘envy’ and ‘rich pricks’…that’s playing their game, nothing useful comes from this. Try harder, find terminology that targets the exclusive few, because it is them that are really stuffing us all over.
If one does not have any good ideas to debate then just shout louder.
As I said in the post on these proposed new Green Party taxes, despite being a “rich prick” by your standards, and probably exposed on both the Trust and house asset aspects, I simply don’t have the income/cash to pay these.
It would effectively force me to sell up, at considerable loss, and I’d likely leave the country before something else turned up to take what remains. But then that is also what you want because you hate people like me.
And then there’s the fact that the vast increase in spending to date has been pissed up against myriad walls. Why would anybody think that another $200 billion in tax revenue will do the trick?
yeah yeah johaN it’s got nowt to do with the rich ensuring the table is tipped their way so their tax is minimal
I think if we’re looking at implementing inheritance taxation in particular then we ought to begin with a low to medium rate of between ten and fifteen percent
““We could have gotten $200 billion in extra tax revenues if only there had been a fair tax system which meant that capital gains were taxed at the same rate as every other type of income.” ”
From Idiot Savant
“Last week Transport Minister Michael Wood was stood down after failing to properly declare a conflict of interest. He owned shares in Auckland Airport, a company he was responsible for regulating while Minister, and while the amount of money involved was small compared to his $296,007 ministerial salary (but large from a normal person’s perspective), it simply wasn’t acceptable. Meanwhile, Stuff has reminded us about a much larger conflict of interest: Chris Luxon’s seven houses:
Five of Christopher Luxon’s seven properties can have more townhouses or apartments built next door under the Medium Density Residential Standards (MDRS) –a law which was passed with bipartisan support, but which National has now said it will repeal if elected in October.
That includes his five-bedroom Remuera home, which shifts from being zoned for standalone homes up to two storeys with landscaped gardens, to allowing three homes of up to three storeys under the MDRS.
While individual landowners could benefit in the short-term from the ability to subdivide a property into more homes under the MDRS, a shift away from higher density is forecast to lead to higher prices in the long-term.
Luxon’s property portfolio has fallen an estimated $6.7 million in value during the current downturn, according to CoreLogic data.
…which means they can be expected to rise by a similar amount if the policy is reversed. And yet, Luxon is not considered to have a conflict of interest, despite directly advocating for a policy which would personally enrich him by millions of dollars.
This is simply corrupt. There is no other name for it. And if rich politicians can’t stop themselves from behaving corruptly, then voters need to stop them from doing it, by simply not electing them in the first place.
http://norightturn.blogspot.com/2023/06/naked-corruption.html
The reason everyone can speculate about Luxons wealth is because he declared his, which the fine Minister of Auckland and Transport did not. It is not the having assets that is the problem, it is the not declaring it, and then not divesting from it when asked 1 – 12 times by everyone and Santa Claus.
” The reason everyone can speculate about Luxons wealth is because he declared his, ”
Yeah but……….And yet, Luxon is not considered to have a conflict of interest, despite directly advocating for a policy which would personally enrich him by millions of dollars.
I agree that Wood has behaved appallingly over this latest indiscretion and any minister should be stood down for undue influence and that includes Luxon who is compromised for advocating policy he will financially benefit from along with a number of MP’s in parliament.
The current system encourages corruption at the expense of all those Kiwis who don’t own houses and don’t donate to keep it that way.
Completely agree Bomber. The system has been skewed for decades and the imbalance we have now is because of poll driven governments whose pursuit of power (and therefore personal wealth) has resulted in the vast inequalities we have now. Not just poor financial policies but also poor social welfare related policies (like state house sales and benefits and regional development).
I think that given our divided population and the recent belief in ‘I want xxx for myself and I want it now!’ that some of it is the politics of envy. We do see this increasingly from the young in particular however for the most part, it is simply the realisation that the system is groaning under the weight of it all and that something needs to change.
Many of us have been aware of the rorts and inequities in the system for a very long time, what’s different now is that we can see something has to be done immediately to close the loopholes and be more responsible. And the more right leaning posters are not incorrect in saying that something also needs to be done about the quality of govt spending.
But I do think something can be done to make it all work in a way that doesnt politicise the issue as much as political parties are trying to do now.
IE: GST off food and education and/ or differentiated amounts of GST on luxury goods ie: 10 % on basics, 30 -35% on luxury items. There has to be a way to lower the tax on basics but direct it at luxury spending.
Financial transaction tax (Hits everyone equally but for most is only a minor contribution)
Windfall taxes (on banks and mega corporates etc) as and when so we dont frighten off business by raising the business rate too much
Maybe increase the business rate by 1%
Agree with a Trust Tax of moderate proportions
And support a targeted capital gains tax or some kind of sensible way of taxing assets over and above a reasonable amount.
Greater taxes on tourism directly or indirectly
Greater taxes on people coming to NZ to live – an infrastructure levy perhaps. For wealth immigration classes, maybe a fee system – $50K or more to the government for the privilege. (They do this in parts of the Caribbean)
Inheritance tax – only over a particular level and capped somewhere in single digit % points.
Land banking tax? Flight tax?
There are many opportunities, but we must have a good look at all the options and accurately determine their downstream effects in a non partisan way.
On top of this we need a David Seymour type sharp knife through the public service but with the aims of ‘Back to Basics’ and ‘Value for Money’ — Again a non partisan no agenda approach. This is equally as important as tax policy.
The government recently held a 5 year contract for multi million dollar services where ‘price’ or ‘value’ was not one of the factors considered by the procurement panel. Sadly this situation is not unique in Wellington.
After that we need to prioritise spending and start looking at Welfare Reform in an honest non partisan way. Setting aside all the decolonisation bullshit and look at how welfare can be managed along with other things like education and housing to bring about the best long term outcomes whilst discouraging generational welfare dependency.
Don’t get how you can tax something which isn’t realised. There’s a difference between taxing money made. Rates already are a type of land tax.
Don’t mind some type CGT on non family home though.
Does anyone not think that by changing the taxation system, it will affect the markets? Particularly the property market and the share market?
Just remember Labour are in charge at the moment and seem not interested in this at all.
Call themselves a left wing party but seem to spend more time helping the well off too.
Coalition time will be interested, just how much will the Greens get walked over this time?