Monday, 22 July 2013

Are we stuffed on inequality?

Fairfax media might seem to think so. So much so concerned staff are leaking they they have been told ignore visiting UK Professor Robert Wade. and Dominion Post publishers are said to have barred staff from contacting Professor  Wade.

Let's why they might like to not give Professor Wade column inches, well he did say Capital Gains taxes should get more attention. Calling the fact that we don't have capital gains "outrageous". It is like he criticizing a plumber in a flooded bathroom for not turning off the spigot. At in regard to the over inflated property market. Now they could not possibly want people hearing about a tax that would stabilize property values because there is a slim chance it might hurt the margins of property speculators and investors. And you can almost be certain the top brass at Fairfax have property investments and any talk of capital gains would knock wind out of the property market as investors shy away from uncertain returns. Never mind upsetting realstate advertisers.

Professor Wade commented “And, I mean, it is I think quite outrageous that in New Zealand there's no capital gains tax… But of course if you have a situation where economic policy is being made by the top 1% for the top 1%, then the last thing you're going to get is political movement towards a capital gains tax,”
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