Looming Economic Carnage vs the Great NZ Tax Cut Scam

When I set MANA up with Matt McCarten, Hone Harawira, John Minto, Sue Bradford and the incredible Annette Sykes, there was an understanding that at the core of Left wing politics was a need to use the State to materially better everyone.

At the centre of that philosophical core was an understanding that the very tax system itself needed to be reset by taking the burden off the working poor and placing out upon the wealthy.

MANA argued for a Financial Transaction Tax that would be a base rate on all automated bank transactions, it would raise enough tax to bring GST down to 10% while allowing the first $20 000 to be tax free. The extra revenue would allow for a mass State Housing rebuild plus free public transport plus more money for education and health.

The total tax take from workers would lower while forcing the Banks, Corporates and Speculators to finally pay for their greed.

This is why the Tax debate every fucking election is such a shallow and hollow joke. Labour says blah blah blah and National scream tax cut. They are both fighting over an ever diminishing pie!

It’s the Great NZ Tax Cut Scam that never actually fixes the problem!

We need a radical means to place the yoke of taxation onto those who are causing the most economic damage and greed – the Banks, the Corporates and Speculators!

The true political division in a Capitalist Democracy is not the colour of your skin or gender identity or genital tribalism, it’s between the 1% richest, their 9% enablers and the 90% rest of us!

Labour must think big on funding universal provision of services to survive the economic downturn and the new post-Covid reality in a climate warming world!

To fund these big services we need a new tax system. A Financial Transaction Tax penalises those who are the greediest while funding the services that benefit everyone.

-Free Public Transport: Rather than welfare increases that the cruel and insidious MSD clawback, put money back into the pockets of the poorest with free public transport, while reducing climate pollution AND making roads more free for those who need to use them. Free Public Transport would make voters care.

-Free Dental Services: Our lack of free Dental is a disgraceful outcome of free market neoliberalism over public health.

-Free Breakfast and lunches in all schools: Again, rather than welfare increases that the cruel and insidious MSD clawback, put money back into the pockets of the poorest with free Breakfasts and Lunches at school. With inflation and mortgage rates soaring even the children of the middle classes will benefit.

-Legalise Cannabis: FFS, it generates half a billion in revenue and justice system savings, just do it for Christ’s sakes you gutless wonders!

-30 000 State House Build: Rather than simply trying to fund flawed models of a rigged property market built for speculators, do mass State Housing builds for only State House tenants and owner occupiers with rent to own options. Build these on Golf Courses we seize back from Auckland and Wellington using the Public Works Act.

-4 day working week in all public services: Build a post growth movement by adopting it in the State sector first. Employ more state servants.

-Basic Pharmaceutical Industry: The continued post Covid world of geopolitical threats demands a level of self sufficiency we are no where close to.

-Tidal Energy Production: Towards our 100% renewable energy target.

-Universal Free Internet: Available through all Churches, Marae, Libraries.

-First $20 000 Tax Free: Most people earn barely $40 000, making the first $20 000 tax free would benefit the poorest first and most.

-Vice Tax on all Gambling, Tobacco & Booze: A special super tax on top of the total tax paid for products that are a blight upon society. Why should the Gambling Booze Vape Barons peddle their harmful products with the barest of responsibility?

-Sugar Tax: The Big Sugar Drug Dealers have been allowed to sell their highly addictive drugs directly to market with no penalty for too long. Time too pay punks.

-Remove GST from fresh fruit and vegetables: Make healthier choices cheaper, works best with a sugar tax.

-30% Stake-hold in Supermarket Duopoly: The broken market is creating a million dollars additional profit each day to the Duopoly. Fuck them. A new supermarket chain will reduce cost and voters need to see that in an inflation explosion.

A Financial Transaction Tax, Sugar Tax and a taxed Cannabis Market could fund new services, old services PLUS take the tax take off the poorest and put it on the richest.

It’s time to be radical.

Why?

Because the economy is about to get hammered and the old systems won’t work any longer.

Finance Minister Grant Robertson admits tax-free zone on low income would help with cost of living

Finance Minister Grant Robertson admits that a tax-free zone on low income – like Australia has – would help with the rising cost of living. 

Covid-19:Traffic lights live to illuminate another day, but the economy is overtaking the virus

ANALYSIS: The same day that Prime Minister Jacinda Ardern announced the end of vaccine certificates, scanning QR codes and some vaccine mandates, and then permitted unlimited-size outdoor events with no face mask rules, ASB published a small but consequential note forecasting that household costs could increase by $150 per week this year.

That’s $7800 in increased outgoings over the course of the year. It is a mixture of general inflation and increased interest rates – which will likely be jacked up to fight that growing inflation.

With weekly household costs tipped to rise $150, Finance Minister Grant Robertson signals further increases due to Ukraine war

With weekly household costs tipped to rise $150 due to inflation, Finance Minister Grant Robertson has signalled a further 2.5 percent rise in the cost of living due to the war in Ukraine.

Why foreign investors are feeling jittery about China

State media has not tried to hide the fact that billions of dollars in global investors’ funds have drained away from China in recent weeks.

They have attributed the outflows–US$11.5 billion since the start of March and counting – to volatility in global markets, a hawkish US Federal Reserve and the impact of Russia’s invasion of Ukraine on global supply chains. One government publication has downplayed the seriousness of the situation and speculated that foreign money will soon come pouring back in.

The sooner we start seeing it as the 90% vs the 10%, the sooner we can get actual change.

 

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