David Farrar: Tax everything

Tax Justice Aotearoa have published their wishlist for a Labour-Green-TPM Government, and it can be summed up as tax everything. They Wishlist includes:

• Increase the tax rate from 33% to 50% for those earning over $150,000

• A 3% surcharge on increase on corporate tax

• A digital services tax

• A 1% annual trust tax

• Increase trustee tax rate to 50%

• A capital gains tax at the same rate as income tax (up to 50%)

• An asset tax of 1% to 2%

• A death tax

• A gift tax

Just imagine paying 50% tax on everything you earn, then 15% on everything you spend, then 2% on everything you save, and then 50% on anything you give to your kids and finally 50% when you die, if you have anything left by then!

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