Who could possibly see the merit in wealthy New Zealanders paying a little more tax to help their compatriots out in a time of crisis, asks Vaughan Gunson. Photo / File
Who could possibly see the merit in wealthy New Zealanders paying a little more tax to help their compatriots out in a time of crisis, asks Vaughan Gunson. Photo / File
LIFE AND POLITICS
Poor wealthy New Zealanders. Things are looking bleak. When are they going to be able to holiday in Europe again?
And when they do, the Government may ask them to foot the bill for the two-week stay in hotel quarantine on their return.
Imagine being holed up in Auckland, Rotoruaor Queenstown unable to see the sights? And having to pay for it. Terrible.
Then there's all the worry about what the equity markets are doing. After years of watching their investments fatten nicely, it's all looking very uncertain and scary. Should they keep their money in tech stock or start buying gold? The stress must be unbearable.
Even that sure road to wealth generation, the property market, is looking like it could stall, or worse, go downhill.
After winning the battle against having to pay tax on capital gains, there might not be any capital gains for property-rich Kiwis.
Greens co-leader Marama Davidson, who launched the new wealth tax policy: "Those with a lot of wealth will pay it forward." Photo / File
The rich had their hopes raised for tax-free profits in perpetuity, only to be dashed by a global pandemic.
And now the Green Party wants to kick these people who've had their lives turned upside down by introducing a wealth tax.
How could the Greens, normally so nice, caring for the environment and all that, be so heartless?
Their proposed wealth tax would only target the richest 6 per cent of the population. Who would have to pay 1 per cent tax on assets over $1 million, and 2 per cent on assets over $2m.
Which would mean a couple worth $5m would have a yearly tax bill of $40,000. The tax would even be applied to assets held by family trusts, in a stroke cancelling out the most common avenue the rich have for avoiding tax.
How can the Greens beat-up on a minority like this? This is rich-bashing. Class jealousy is behind it.
The rich have got bills to pay too, to sharebrokers, accountants and property managers. Private schools aren't cheap.
It's totally unfair. Everyone should just pay the same amount of tax.
NZ First leader Winston Peters says the Greens' plan to tax the wealthy is "nuts". Photo / File
Let the rich go about the business of getting richer. They should be able to pass on their wealth to their kids, not have it stolen by the Government. We got rid of gift duty and inheritance tax years ago. That's the way the world is now. Why change it?
New Zealand should be like America, the land of the free.
