Heading into the 2023 election, politicians and commentators have said New Zealand’s tax needs to be fairer. But opinions on how to make the system fairer vary wildly.
A wealth tax has long been in the too hard basket for successive governments, but it’s time to take it out and properly debate the fairness of the current system.
Elon Musk is currently the world’s richest person.
AP Photo/Matt Rourke
Democrats briefly proposed a wealth tax to help pay for Biden’s economic agenda but withdrew it days later.
Afrofuturist’s work is rooted in the desire to transform the present for Black people. Here actor Mouna Traoré in ‘Brown Girl Begins’ (2017) directed by Sharon Lewis set in a post-apocalyptic version of Toronto.
Afrofuturist’s work is rooted in the desire to transform the present for Black people. To do so, they imagine a reality in which Black people are the agents of their own story, countering histories that discount and dismiss them.
An unemployed man collects trash for resale in Diepsloot Johannesburg. Calls are growing for a basic income grant for poor South Africans.
Basic income must be embedded within a broader strategy of economic reform, aimed at increasing the social wage and improving working conditions.
Jeff Bezos paid no taxes in some years despite gaining billions in wealth.
AP Photo/Patrick Semansky
A new report found that America’s top billionaires paid very little income tax despite tremendous gains in their wealth.
A woman sweeps outside her shack in Khayelitsha, Cape Town. South Africa is among the most unequal societies in the world.
Rethinking capitalism requires that the primary focus should be on the distribution of economic power as the potential leading causal factor driving inequality.
A lifestyle of the wealthy.
Raising income taxes for the super-rich can help ease the burden on government budgets and reduce inequality in society.
Sen. Elizabeth Warren argues that her plan is constitutional.
AP Photo/Susan Walsh
Economists estimate the tax on households worth over $50 million could bring in $3 trillion over 10 years, but it will run into constitutional challenges.
Sheila Fitzgerald / Shutterstock.com
We find low taxes on the rich bring economies little benefit. This suggests there is a strong economic case for raising taxes on the rich to help repair public finances following the pandemic.
Trussell Trust food banks have seen a huge surge in demand this year.
Adjustments to benefits could stop poor households’ debts increasing and be paid for by those who have gained from lowered outgoings.
New Zealand Prime Minister Jacinda Ardern promising to accelerate Labour’s COVID-19 recovery plan after winning re-election in a landslide.
Phil Walter/Getty Images
In politics, what lifts you up can drag you down. To avoid that, Jacinda Ardern’s Labour government will have to examine its political soul.
Knowing precisely how society rewards effort is key for how voters think about taxes. Only brute luck is seen as an undeserved reason for riches.
They not only direct tax-free income to children, but also to children who are yet to be born.
Finance Minister and Labour finance spokesperson Grant Robertson: higher tax revenue will be spent on economic recovery.
Both major parties refuse to grasp the nettle of New Zealand’s narrow and inherently unfair tax base.
Prime Minister Justin Trudeau looks on as Finance Minister Chrystia Freeland responds to a question during a news conference on Parliament Hill in August 2020.
THE CANADIAN PRESS/Adrian Wyld
The speech from the throne is just around the corner. Will the Liberal government make broad and much-needed economic and social change amid the pandemic, or will it give in to the wealthy again?
Charitable tax incentives enable the super-wealthy to redirect billions in tax dollars away from government programs toward their private philanthropic foundations and the causes they choose to support.
The growth of private foundations in Canada has occurred at the expense of government tax revenue. Philanthropic donations are dollars that have been redirected away from universal social services.
As the adult children of baby boomers start inheriting their parents’ wealth, it’s time we looked seriously at taxing this unearned income.
A police officer at a 24-hour roadblock in Cape Town, South Africa after the country went into lockdown.
Photo by Roger Sedrus/Gallo Images via Getty Images
It is rare for a post-authoritarian society to get two chances to reconcile. This may be just that, for white South Africans in particular.
Even allowing for falls in asset values and some tax dodging, a modest tax on the wealthiest could pay off the government’s ballooning debt.