The Taxpayers’ Union is slamming the Green Party’s proposed wealth tax as bureaucratic economic vandalism that would hammer job creators.
Taxpayers’ Union spokesperson Jordan Williams says, "The proposed wealth tax would mean the return of the dreaded
compulsory asset valuations that made a capital gains tax so unpopular. A bureaucratic valuation scheme would
incentivise people to hide their wealth, or shift it offshore. It would be a dream for tax accountants but hell for
small business owners.”
“The policy also appears not to differentiate between asset types. It would tax entrepreneurs creating jobs the same as
someone sitting on an art collection. Ultimately it would cost jobs at the very time New Zealanders need entrepreneurs
to create them.”
“Wealthy iwi groups sitting on often unproductive land would also be smashed under this scheme. It’s bumper sticker type
policy which is poorly thought through.”
“Any party that says you should raise taxes in the middle of a recession is divorced from reality. It is scary that all
the work James Shaw has done to try and make the Greens more economically credible appears to be for nothing.”
Commenting specifically on the Green Party's income support policy, Mr Williams says, "Under the Greens' policy, a
family of five with both parents on the dole would recieve $1180 a week in taxpayer funds, assuming one of the kids is
younger than three. That goes beyond generosity: it is using taxpayer funds to encourage long-term unemployment.
Combined with the policies to tax job creators, this package would take a sledgehammer to New Zealand's productivity."