Why the wealthy need to step up now

Graeme MacCormick, Stuff, Aug 25 2020

Graeme MacCormick: While most New Zealanders have been doing sufficiently well, way too many have not

OPINION: Whatever the shape of the next government it will need more revenue to deal with the multiple effects of Covid-19. One proposal has been to sell New Zealand residency to the mega rich. But that seems like selling our soul.

A net wealth tax, as now proposed by the Green Party has much more to commend it – although to be electorally acceptable it needs a higher level of exemption, affecting far fewer people.

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