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Labour needs a wealth tax

The Editor,  The Dominion Post,  Wellington

10/07/2020

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.  The Greens proposed tax on wealth in excess of 1M$ is a modest attempt to take advantage of this new realization.  There is still work to be done to determine what $$ thresholds should apply.

The description of this modest tax as a ‘far-left’ policy is laughable, but also provides a chance to look at an important indicator of “who we are” here in Aotearoa New Zealand.  A wealth tax is so main stream today that not to adopt this kind of tax indicates intent to increase inequality.  Is Labour still intending to characterize its government as ‘well-being’?  The adoption or not of some form of a wealth tax will be the main indicator of ‘who they are’ this election.

Sincerely,

Richard Keller

published Mon, 13/07


Dave Armstrong on the Green’s wealth tax proposal hits the mark

The Editor,  The Dominion Post,  Wellington

02/07/2020

Another on the mark observation from Dave Armstrong Tuesday, highlighted and not distracted, by his usual satirical brilliance.  The reduction of inequality as an economic consequence of taxing high wealth (assets) has become mainstream knowledge today, especially from the work of French economist Thomas Piketty, author of Capital in the 21st Century.

The description of the Greens modest tax on wealth in excess of 1M$ as a ‘far-left’ policy is laughable.  A wealth tax is so main stream today that to not adopt this tax indicates an intent to increase inequality.  The adoption of that policy or not by Labour will be the main indicator of ‘who they are’ this election.

Sincerely,

Richard Keller

 


Karl du Fresne seems to instinctivley and nervously understand capitalism is challenged fundamentally

The Editor,  The Dom Post,  Wellington
12/11/ 2019

Dear Editor:

Russell Armitage (11/11) and others have generally been pointing out to columnist Karl du Fresne that Thomas Piketty’s Capital in the 21st Century recommends reforming capitalism not replacing it. Read the rest of this entry »