Where has a wealth tax ever worked?
Nah, but I do know it's neoliberalism. For 50 years. In New Zealand.
See that’s where you are wrong. The main driver of wealth into the hands of the already wealthy is hard work & risk taking. But this is all old ground.
Mythical old ground.
It's not particularly smart as leader of a party to criticize the current government on their management of the economy, release an alternative budget light on detail, go on Jack's show under prepared to answer pertinent questions and her main answer was I can get back to you on that.
Hard work has a very weak relationship with wealth. The hardest working person in the world is very likely some kid in a lithium mine in the Congo or something. Hardest working people in New Zealand are people working two minimum wage jobs to make ends meet. Both these people are poor. Hard work being rewarded with wealth is a myth wealthy people tell to make themselves feel good. The sure-fire path to wealth in New Zealand is to get your hands on enough money to buy an investment property, then use that to get more loans for more investment properties, then just watch the capital gains roll in for ever and ever and ever while you do sweet fuck all and collect rent from wage workers.
Personally know many from from both sides of the fence. Some from old money that wouldn’t know a hard days work if it booted them up the arse and some alternatively too that work their arse off. Know plenty too who work hard and don’t get anywhere, and others who who aren’t interested and happy having nothing. One size fits all solutions often aren’t realistic with so many variables from case to case
It's worse than that. They lost $500m in tax revenue. The capital and assets that tax would have come from is obviously much more than that.Back in the real world and not the paedo app
TLDR Meant to raise $100M, they lost $500M in capital and assets
Norway's Tax Experiment: A Costly Exodus - IMGlobal Wealth
Norway raised its wealth tax aiming for fairness—but the outcome sparked a surprising exodus. What happens when high earners pack up? The real cost may be more than expected.imglobalwealth.com
I didn’t say hard work in isolation - in tandem with risk taking. Should have included intelligence & opportunity as well. Risk taking without intelligence often doesn’t end well. And opportunity - that’s the big societal problem in this country. Too many kids simply don’t get that due to circumstances entirely out of their control & then eventually they become the problem…
So basically the super rich don't want to and won't pay tax.
We’ve got record life span, health, lowest poverty ever, healthiest homes, best hospital systems, most culturally aware, etc EVER!
Here's a bit of news - the brightest and most hard working people are abandoning new zealand in droves because of this hard right government that is stealing our democracy, enriching the wealthy at the expense of ordinary new zealanders and fucking the economy with their "austerity" (privatisation agenda) economics
Omg this is boring. Please, please please put away the communism/marxism comments. Please.
Seriously, you have no idea how bad it is out there.
The flight from wealth tax claim is debatable at best.Back in the real world and not the paedo app
TLDR Meant to raise $100M, they lost $500M in capital and assets
Norway's Tax Experiment: A Costly Exodus - IMGlobal Wealth
Norway raised its wealth tax aiming for fairness—but the outcome sparked a surprising exodus. What happens when high earners pack up? The real cost may be more than expected.
No, thats not correct at all. The fact they were already paying $500 million in tax tells you that. You may have missed that bit. But as many have pointed out, its not an ATM and there are consequences. Particularly in a global world where there are better options for them.
Buying investment properties is not risk taking. There is a bipartisan agreement that house prizes will always rise.
Link to this please. Quite keen to see the stats on the brightest and hard working
Of course it’s risk taking however not one I agree with. I think people are delusional if they think we’re going back to the HPI growth rates we saw over the last few decades.
