The simple solution to Treasury attack on Green’s wealth policy
Election 2026: What the Treasury wealth tax paper really says, according to the man who co-wrote it
The Greens’ “super-rich tax” would trigger a behavioural response of about 38%, according to one of the three lead authors of a 2023 Treasury paper that the Greens used to inform the design of their central tax policy.
Former Inland Revenue chief economist Phil Whittington was one of the three lead authors on that paper, which was written for Labour’s abandoned 2023 wealth tax.
He said while he did not want to pick a fight with a political party about what it got right or wrong, his analysis of the 2023 paper would suggest the Green’s “super-rich tax” would have a behavioural response of about 38% – higher than the 28% modelled by the Greens. He said he did not know of any country that had sustained such a broad wealth tax at such a high effective rate.
A behavioural response measures the amount of tax revenue lost as people seek to avoid paying the tax by shifting revenue offshore or hiding it by other means.
NZME
There is a simple solution to Treasury’s attack on the Green’s wealth policy.
An Exit Tax or a Capital Flight Tax.
Or my preference – both!
South Africa, Israel, Australia, Canada, Denmark, France, Germany, Japan, South Korea, Norway, Poland, Spain, Sweden and America all have Exit Tax to stop the wealthy from fleeing.
If we are serious about taxing the mega wealthy, we need an Exit Tax and a Capital Flight Tax in place so that our Mega Wealthy brothers and sister can’t just pull all their money out the way Treasury are predicting.
Let’s help our mega wealthy whanau appreciate their patriotism by whacking on a 75% Exit Tax.
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” If we are serious about taxing the mega wealthy, we need an Exit Tax and a Capital Flight Tax in place so that our Mega Wealthy brothers and sister can’t just pull all their money out the way Treasury are predicting ”
Bomber that’s just the point we aren’t serious !
An excellent policy promoted by a frightened , compromised party desperate to be relevant while subserviently providing support to a National lite plutocracy neo liberal standard bearer the NZLP.
It makes great corporate mainstream news highlights to entertain and then destroy
but won’t be given any real consideration because its just to horrible for the donors and establishment to even explore the significant change it would bring to the hundred of thousands of Luxon’s numpties that aren’t neoliberal entitled MP’s
Here is the predictable responses………
ACT Party leader David Seymour has attacked the Green’s proposed new taxes, saying it fed into a culture that opposed success.
“The Green Party, in my view, have shown a real evil in their message, that New Zealand’s problems are that other people have succeeded, and if you vote for them, they will take people’s money and give it to you,” he said.
“They are seeking to take the dark underbelly of New Zealand’s otherwise happy culture, being tall poppy syndrome, and make it the official government policy.”
The additional taxes made people who were doing well “fair game” and sought to drag them down, he said.
“We actually need more success, more billion-dollar companies, more high-paying jobs, more exports, and more people prepared to take a risk.”
When asked by media if wealth inequality was a problem, he said it was not as long as all people had the opportunity to do better which was why education, infrastructure and affordable housing mattered.
“But the fact that one person has made a billion dollars, that doesn’t actually take away from anyone else,” Seymour said.
Labour leader Chris Hipkins said the Greens could speak to their own proposals, and instead pointed to his own party’s tax policy.
“It is for a simple targeted capital gains tax that applies only to residential property excluding the family home and commercial property,” he said.
Labour would not support a wealth or inheritance tax, Hipkins said.
https://www.rnz.co.nz/news/politics/609649/greens-propose-wealth-corporate-and-inheritance-taxes-to-fund-income-tax-changes
“But the fact that one person has made a billion dollars, that doesn’t actually take away from anyone else,” Seymour said.
Utter bullshit. It’s stolen wealth leached from the system by underpaying people the full worth of the value they create.
Wealthy parasites hoard this value and create hardship for the rest of us.
Mr Snapchat Sleezemore needs reminding – it’s not “envy” his parasitic supporters should be worried about.
It’s anger……………….and it’s growing.
There is always a solution to every tricky problem and Martyn has pointed out the simple solution to Treasury’s attack on the Green’s wealth policy! An EXIT [75%] or CAPITAL FLIGHT TAX and even better, BOTH! Any ‘bludger’, who isn’t prepared to pay their way in NZ, needs to move on to another country. We are so very sick of the parasites who GIVE nothing but TAKE all they can at every opportunity. Fourteen countries already have an Exit Tax to stop the wealthy from fleeing their responsibilities. How dare this entitled mob believe they are better than the rest of us, simply because they have scrounged all they can from our lovely NZ but given nothing back! End this egotistical ‘gravy train’ NOW. How on earth would we miss them – they are not keeping NZ afloat, the ‘workers’ are!
Oh yeah baby! I love this exit tax. What an excellent idea.
If you won’t show comments Your site is irrelevant! you’re just history WANKER SCUM !
Settle Joe sometimes it takes time
100% Make sure they pay up before the closing door clips their selfish butts!