Labour’s new revenue spokesperson Deborah Russell believes it might be time to “seriously” look at a capital gains tax (CGT).
Russell, a former tax lecturer who was last week appointed to the revenue role now that Labour is in Opposition, says she believes a CGT would be simpler to implement than a wealth tax, which both the Greens and Te Pāti Māori campaigned on at the election.
She said she believed wealth taxes “are largely unknown” and it would be “complicated to explain it to people”.
NO! NO! NO!
Why the fuck is Deborah fucking Russell already setting the goal so fucking low?
The Greens managed to overcome their alienating woke dogma and sell the Wealth Tax, why the Christ can’t Labour?
Why is Deborah losing the tax debate before even starting it?
South Korea 50%
United Kingdom 40%
United States 40%
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.”
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!
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!
Total hours spent at work per year (OECD):
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!
-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…
As for this…
…you all know it’s true!
So why is Deborah already surrendering before we have even gotten into the boxing ring?
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