What is it with some economists who are fixated with taxing
wealth? Economist Shamubeel Eaqub has published an opinion piece, titled
"Should New Zealand just tax land?" - view HERE.
In my view taxing wealth
creators more is a certain way to demoralise a society's entrepreneurial spirit
and decelerate an economy. Surely, economists like Shamubeel Eaqub would be of
much more benefit if they turned their mind to the creation of wealth rather
than its erosion.
Most economists are undoubtedly reasonably intelligent
individuals, but they appear to suffer from a condition that affects most
humans - being human. Besides being professional
they have personal views and biases that manifest themselves with every word
uttered or penned. It's pretty clear that on an economic freedom scale between
state control and free market capitalism his dial sits left of centre.
Our Prime Minister said there would be no capital gains taxes
under her watch. Shamubeel Eaqub should take that to mean there will be no
capital gains taxes under her watch. He can also reasonably assume that there
would be no capital gains taxes under National's watch either, should it become
the government later this year (despite National being so fundamentally lacking
in principle when appeasing its political allies).
Perhaps its time for economists to move on from the
promotion of capital gains taxes and turn their collective and professional
minds to how we can grow the New Zealand economy to create new wealth that will
benefit all.
Frank Newman, a writer and investment analyst, is a former local body councillor.
No comments:
Post a Comment