Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


"Robin Hood tax and other clever ways to help our kids"

Income Equality Aotearoa New Zealand Inc. Closing the Gap

MEDIA RELEASE: 28th AUGUST 2014

“Robin Hood tax and other clever ways to help our kids”

It’s time to talk about tax. Not just income tax but other kinds of tax too.

It’s time to talk about Capital Gains Tax, inheritance tax and the financial transactions tax. It’s time to get serious about tax evasion.

These are concrete, clever ways to make an immediate difference in the lives of our children.

New Zealand is a low-tax economy. Our low-tax rates, our “missing” taxes, and massive unpaid tax bills intensify the gap between rich and poor.

This week, the media described the Greens’ 40% top tax rate announcement as a Robin Hood tax. Around the world, the financial transactions tax is also likened to Robin Hood.

But who is stealing from who, when up to $6 billion of tax avoidance every year means there’s not enough money in our wallet to fund the economic, health, housing, educational and social initiatives that would benefit the entire nation?

There is no hard evidence that higher tax rates harm the economy. In fact, evidence points to the opposite: increased government spending stimulates the economy. Nobel Prize winning economist Joseph Stiglitz recommends a top marginal tax rate of 70%. That puts our current top tax rate of 33% into perspective.

A financial transactions tax is being implemented in a number of European countries, but has yet to be implemented here. This, among a raft of other policy choices, is a serious tax option for all parties to consider. Let’s use our taxation system to reduce inequality in New Zealand, not to exacerbate it.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Gordon Campbell: On Bank Scandals (And Air Crashes)

Last month, the Australian Securities and Investment Commission (ASIC) filed proceedings against Westpac over activities that have some distinct echoes of the Libor scandal. More>>

Budget: Health Funding Must Keep Up With Need

NZNO: “The nursing team has been doing more with less for years. It’s getting to the point that we’re really worried about our colleagues, our patients, our jobs and the level of health care available for people in our country." More>>

ALSO:

Emissions Inventory: Time For The Government To Do The Right Thing

It’s time for the National Government to step up and do the right thing to reduce climate pollution as data shows New Zealand’s greenhouse gas emissions are higher than ever, the Green Party said today. More>>

ALSO:

Budget 2016: More Partnership Schools To Open

Seven new schools will join the eight Partnership Schools already open, along with further new schools opening in 2017. “The growth of this policy is a reflection of the high level of interest from educators and community leaders,” Mr Seymour says. More>>

ALSO:

No Correspondence With English: Did Brownlee Make Up Sale Of Navy Ships ‘On The Hoof?’

Having revealed that several Royal New Zealand Navy vessels have not left port in years, New Zealand First is now asking the Minister of Defence to prove he did not come up with the idea of selling HMNZS Taupo and Pukaki until the media asked him. More>>

Housing Plans: Labour- Abolish Auckland Urban Boundary
The Government should rule out any possibility of an urban growth boundary in Auckland Council’s Unitary Plan if it is serious about fixing the housing crisis. More>>
Greens - State House Solution
The Homes Not Cars policy allows Housing New Zealand to retain its dividend and, in addition, would refund its tax, to spend on the emergency building of around 450 new state houses. More>>

ALSO:

Houses And Taxes: Post-Cabinet, Pre-Budget Press Conference

The Prime Minister said that the pre-budget announcements showed that his Government is “investing in a growing economy”. He re-affirmed the National Government’s commitment to lowering personal tax rates but that any such change must fit with the fiscal reality of the time. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news