Tax everything
Tax Justice Aotearoa have published their wishlist for a Labour-Green-TPM Government, and it can be summed up as tax everything. They Wishlist includes:
- Increase the tax rate from 33% to 50% for those earning over $150,000
- A 3% surcharge on increase on corporate tax
- A digital services tax
- A 1% annual trust tax
- Increase trustee tax rate to 50%
- A capital gains tax at the same rate as income tax (up to 50%)
- An asset tax of 1% to 2%
- A death tax
- A gift tax
Just imagine paying 50% tax on everything you earn, then 15% on everything you spend, then 2% on everything you save, and then 50% on anything you give to your kids and finally 50% when you die, if you have anything left by then!