Friday, September 25, 2026



Taxing the rich is popular

The election is just six weeks away, and the parties of the rich are frantically trying to scare us about tax. If a left-coalition forms after the election, then Labour will impose a capital gains tax! Or they'll be forced to accept the Greens' proposed wealth-tax on the uber-rich! Shock! Horror! Won't someone think of people worth tens of millions of dollars with multiple houses?

Meanwhile, while they're trying to frighten us, it turns out that the public actually supports these taxes. And they support a wealth tax more than they support Labour's least-they-could-possibly-do, protect the rich CGT:

4JHS6RG_Ipsos_Issues_Monitor_September_20206_tax

[Image stolen from Ipsos Issues Monitor, via RNZ]

Note that this is asking about the specific policy proposals of the various parties, rather than vague propositions. So 64% of those polled explicitly support the Greens' proposed wealth tax. I guess they recognise what the problem is - the rich - and won't accept half-measures. Which includes TOP's land tax, because it explicitly excludes financial capital, while also taxing the urban rich at lower rates than the rest of us (and fuck that).

Labour and the Greens should be taking heart from this. Despite all National's scaremongering, people recognise very well that the only people negatively affected by taxing the rich will be... the rich. Which is why they and their paid stooges are screaming so loudly. As for the rest of us, it means a better life. Taxing the rich is a popular policy, and the left parties should push on it as hard as they can.