Is Revenue Minister David Parker’s plan to gather tax data on the wealthy just more procrastination by this Labour government on making the tax system fairer? Or is it recognition the public debate needs a long-term frame to get a capital gains, or wealth tax, over the line?
The International Monetary Fund (IMF) says it now favours higher taxes on the rich and has demolished the myth this might adversely affect […]
It’s basically flat-lining – only partially animated by immigration and a housing bubble.
Last week Treasury came out with a detailed and interesting report, Inequality in New Zealand 1983/84 to 2013/14. It is no surprise to find that the last Labour government acted to reduce inequality, the current National government has acted to increase it.
Inequality has been very much in the news recently. Friday saw the publication of two really excellent pieces that between them provide a comprehensive, if depressing overview.
Message to today’s anonymous Herald editorialist – competition doesn’t close the inequality gap, it widens it. In other news, black is black not white, and water is wet. How can you write such drivel?
Rob Salmond notes the OECD report saying the West – and New Zealand more than any – have had their growth held back by income inequality. Do we have a government willing to do anything about it?
David Farrar seldom seems to actually read the reports fully before he starts inventing meaningless canards. A theoretical equality of opportunity is irrelevant when your parent’s lack of disposable income is the major determinant of your own education and opportunities. We waste the opportunities from peoples abilities because of income inequalities.
The British public estimates the poor pay around 24% of their income in tax, while the rich pay around 35%. The truth is very different. Once you add up all taxes, the poorest actually pay around 43% of their income in tax, compared to only 35% for the rich. We have the same perceptual issues in NZ especially if you listen to the whining of Kiwiblog. Here the poorest pay the same tax rate as the rich, and the middle classes have the lower tax rate.
No Right Turn succinctly points out the impact of the International Monetary Fund changing its mind on the adverse effects of inequality in the economic sphere. A case of an accumulation of facts overriding dumb ideology.
In my previous post on how a UBI would address inequality, it turns out I figured out something that is already known as a measure of inequality called the Gini coefficient and the Lorenz curve. A lower Gini coefficient is better and represents a more equal society. It is a recognised way of measuring and comparing inequality between countries, changes in equality overtime and for the effects of taxation proposals. Looking at it for NZ shows the effects of the last 30 years of neoliberal “reform”.
There’s been an excellent Insight on Radio NZ on Sunday / Monday, looking at the income gap and the consequences for our […]
The ratings/sales driven ethos of the corporate MSM skews the coverage of the election campaigns of parties of the “left” and the “right”. Focus on individuals, implying they represent large sections of the population. The left are leading the agenda on inequality.
John Key was careful in his speech. He and his government have helped themselves and their affluent mates while screwing everyone else. It is pretty clear who has been getting the benefits – since 2010 just the households with at least a hundred thousand dollars income. The bigger the household income, the more National helps. John Key – a liar with numbers.
Income equality is one measure that can be used to indicate the equality of a society. Flip has analysed the 2011 income distribution and show how a UBI (Universal Basic Income) can create greater income equality.
Some say the economy often responds positively to “confidence”, while lack of it can result in some financial nose dives. But whose confidence is being highlighted in reports of NZ’ “rock star” economy? Not that of workers, beneficiaries – the precariat, say Labour, Greens.
John Key honed his skills as a speculative banker. As PM, this casino capitalist has undermined democracy, & promoted international corporate interests, while beneficiaries & workers are brutalised, inequalities enhanced and NZ’s economy & sovereignty damaged. Does one Labour leader contender have his number measure?
Austerity is reducing the opportunities for social mobility, for reducing income inequality, for a fair society. The increased class sizes, the removal of Adult and Community Education, the removal of Training Allowances, and many more things National are doing in the name of “austerity” are undermining our society.
Income inequality is one of the major issues of our time, and is being discussed globally. But our government doesn’t appear to be listening. Now a new organisation is aiming to raise awareness of the issue, and pressure our politicians to do something about it.
There’s a documentary on BBC World Service about the Wealth Gap – how the top 0.1% keep earning more and more. Looks worth a listen…
The OECD has a report out blasting increasing income inequality, and saying trickle down doesn’t work for wealth or social mobility. New Zealand had the greatest increase in inequality in the Western World. So what are we going to do to fix it?
