Labour leader Chris Hipkins said the party’s tax policy is still a live discussion after the Labour Party social media account shared an account of a party meeting where former Revenue Minister David Parker allegedly discussed something called a Capital Income Tax.
Hipkins confirmed members were discussing a range of taxes,
“There’s a lot of conversation within the Labour Party at the moment around different forms of taxation: capital gains tax, wealth tax, combinations of the two, land taxes,” Hipkins said.
So many taxes they want to do.
The reality is that the tax take massively increased under Labour. In 2017 tax revenue was $76 billion and in 2023/24 it had risen to $119 billion.
We don’t need more taxes. What we need is a faster growing economy.
David Farrar runs Curia Market Research, a specialist opinion polling and research agency, and the popular Kiwiblog where this article was sourced. He previously worked in the Parliament for eight years, serving two National Party Prime Ministers and three Opposition Leaders.
6 comments:
Deaf and dumb.
What does anyone expect ? Labour has always pursued a Tax and Spend Policy. They are ordinary people just like you or I but some how they think they have much greater insight in how to spend your money than you do, even though you worked for it. They have produced some great exponents of this policy, such as the unlamented Grant Robertson who spent so much of your money on useless projects and programmes that he had to borrow much more money against your future earnings, and you will also have to pay the interest on the loans from your earnings.
But the biggest mystery of all, is why so many NZers are so blind they cannot see this simple truth and continue to vote Labour or Greens, or even the Maori Party (who are only in the game to grab as much filthy lucre as they can for themselves, not the ordinary Maori who actually work). Truly God Defend New Zealand, not from external enemies but from the internal communists who pose as Labour and the Greens -- the Maori Party are just plain robber barons.
This "tax stealing policy" is being pushed/supported by every corporate state through out the west, in one guise or another. If you are not paying attention to the "lock step" agenda going on around you and have a plan B, well good luck.
In the Herald article Capital Income Tax (CIT) was initially presented as an altermative to both CGT and a wealth tax. But then Parker is reported as saying CIT can alternatively be described as "a tax on capital income". If so why mention it at all. That's what a CGT does. But elsewhere in the article reference is made to "a CGT with a Capital Income Tax for deep pools of capital attached to it". Since the conventional CGT is a tax on realised capital gains, it seems to me a CIT must therefore be an additional unrealised capital gains tax, presumably only on those "deep pools" of capital. This is a very bad idea and all the reasons why it is a very bad idea are set out in another article in today's Herald, reporting on Kamala Harris' proposal for just such an unrealised capital gains tax. It seems clear that the need for a realised CGT is widely accepted and in a tax policy context, it makes sense. It's introduction is a matter of when, not if, So why can't Parker learn to stop while he is ahead.
Dumb and Dumberer
As Fred H says: the biggest mystery is why so many keep voting for Labour & Greens when they are so obviously bad for the country. Perhaps they vote because their forebears have always voted socialist and it has become their religion.
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