Friday, 10 July 2020 11:52

Unpopular tax

Written by  Milking It

The Greens recently announced its major tax policy for the election.

The centrepiece was a tax of 1% on wealth over $1 million and 2% over $2 million.

What does this mean for small farmers? Many might sit on the cusp of the $1m and $2m thresholds.

We say the policy would likely run into the same issues as Labour’s now jettisoned capital gains tax: it’s unrealistic and unpopular. Just ask Winston Peters. He recently quoted Winston Churchill….”for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.” 

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