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Malcolm Rands: Open Letter on Tax Spokesperson on a potential wealth tax in New Zealand
Description
The Green Party is suggesting an overhaul of the tax system in their alternative Budget.
It includes taxing wealth, inheritance, gifts, and private jet journeys, and they say it would bring in $88 billion in revenue over four years.
New income tax rates of 39% on income over $120,000 and 45% on income over $180,000 would be introduced, and the corporate tax rate would be raised to 33%, 3% higher than Australia's current rates.
Malcolm Rands is the spokesperson for the ‘Open Letter on Tax’ released in May 2023, in which 97 people leading “financially comfortable lives” expressed their willingness to pay more tax.
He told Kerre Woodham he thinks people who can afford more aren’t contributing as much as they can.
He says taxes don’t just fund social welfare and education, but also things like climate change and the infrastructure bills being passed that will need funding.
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