12-06-2023, 01:11 PM
(This post was last modified: 12-06-2023, 01:13 PM by Oh_hunnihunni.)
I get really cross when people who should know better start talking about the 'unproductive', the 'lazy', and the 'greedy'. Especially so when they fail to acknowledge a good chunk of their own wealth is generated by others, by good fortune, and the ever increasing values of the property market.
Because that is how capitalism works. It is a giant pyramid scheme that relies on a broad base of those very same heavily exploited low income workers and tax payers. Because the fact is, NO ONE in this country escapes being a taxpayer, except the very few extremely wealthy at the top of that same pyramid.
You missed a word - proposed.
It is a long way from being fixed in anything other than hot air, so we don't actually know how it will work or kick in...
Because that is how capitalism works. It is a giant pyramid scheme that relies on a broad base of those very same heavily exploited low income workers and tax payers. Because the fact is, NO ONE in this country escapes being a taxpayer, except the very few extremely wealthy at the top of that same pyramid.
(12-06-2023, 12:51 PM)Olive Wrote:(12-06-2023, 09:47 AM)Kenj Wrote: ....our house had a value of $1.2M 18 months ago. For us to find $25,000 for tax on that would be a dream! So many people are sitting on a market driven high value assets without having a lot of cash in the bank.
...
The wealth tax kicks in at $2m NET assets (or $4m NET for a couple). Most family homes, even in Auckland, are valued at less than $2m, and most are subject to mortgages securing loans,. The policy is not targeting the general population who own one home.
You missed a word - proposed.
It is a long way from being fixed in anything other than hot air, so we don't actually know how it will work or kick in...