Wealth tax neededPosted: September 3, 2020
The Editor, The Dominion Post, Wellington
The world’s billionaires have increased their total wealth by hundreds of billions ($) during the pandemic while many people and businesses are losing income. The work of French economist Thomas Piketty, author of “Capital in the 21st Century”, has shown that to reduce inequality requires taxing high wealth (assets). This is now mainstream thinking.
“Shovel ready” now needs to be interpreted broadly to include a tax on wealth as well as projects which reduce our CO2 emissions. More appropriately call them “future ready”.