The Targeted CGT that 9 out of 10 won’t pay in return for 3 free Dr visits plus more cash into public health was a smart and sensible policy to pull soft NZF and National vote.
But if we want to actually fund the social and community infrastructure in a meaningful way that also provides funds for climate change adaptation while subsidising the cost of living we need targeted taxes.
We need a Financial Transaction Tax, a oligopoly/duopoly wind fall profit tax, vice tax, a sugar tax and a wealth tax.
Chippy has already ruled out a wealth tax, and he can say that on this side of the election until the cows come home and make him a sausage roll, but on the other side of the election, everything is up for negotiation.
This is why the current self mutilation inside the Māori Party is so damaging to everyone.
A Green/te Pati Māori united negotiating front with the force of nature that is John Tamihere could have forced a modified wealth tax onto the table.
Not the Greens version (it is too low and would ping too many people), I propose that the Greens in a negotiating alliance with te Parti Māori make as their bottom line the adoption of Labour’s own wealth tax.
The one that targets individuals with net wealth over $5million, the very wealthiest New Zealanders to provide everyone with the first $10 000 tax free.
The 46,000 individuals who have prospered because of society will be asked to pay 1.5% in tax on that wealth.
That would provide every kiwi with their first $10 000 tax free.
That’s $1050 to everyone per year.
For many Kiwis holding on, that is a real difference.
It particularly helps pensions, beneficiaries, students and the low paid.
Financial Transaction Tax, a oligopoly/duopoly wind fall profit tax, vice tax and a sugar tax would go to fund free public transport, Ministry of Green Works, weight loss drugs and free dental.
That way Chippy isn’t being confronted by the Greens wealth tax, he is being confronted by his own Party’s wealth tax.
The election is just the beginning of the fight for a new Government that must produce results and material change to people’s lives.
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