Sunday, August 14, 2011

It Is NOT! their money.



The wealth was earned by the efforts and contribution of workers and tax payers.

I have already said that the skilled and entrepreneurs earn their wealth. It is their money.
A good Doctor, Teacher, builder, scientist, entrepreneur, (Your decent business with well paid employees) The person who produces and markets a more efficient windmill, deserve all we can pay them.
But as we all know it is State supplied infrastructure, education, stability and rule of law that enables them to prosper, as well as their own efforts.
How many successful businesses does Somalia produce. The locals have to resort to piracy!

For most of the wealthy though IT IS NOT THEIR MONEY! It is basically stolen money.
Do you really believe it is right that 50% of the richest people in NZ pay little or no tax despite being the biggest beneficiaries of the society we have created over decades.
Do you thing financiers should still be getting bonuses when they f–ked up so badly it cost trillions in tax payer funds worldwide to fix it.
What do the Koch brothers do to have such a large share of the worlds wealth? They have used their money to make the USA a failed State.
What actually did Key do that is such benefit to society that he earned 50 million. In fact he cost the NZ economy many times that to make it.
It would be more than fair to tax him 50% of his unearned dollars to mitigate the damage he did.
Fayrich stole millions when they acquired rail at mates rates, knowing they could asset strip all they liked. Some future Government would always have to build it up again as a vital piece of infrastructure for exporters. Should claw a proportion of that back also.
The property developer in Christchurch who went to court to overturn a council decision about building on dodgy land. Who is now sitting on his millions in Australia while we all pay for the damage.
Farmers who are sitting on millions in capital gains when they retire who pay $1700 a year in tax while paying starvation wages, and, still demanding all the benefits paid for by other peoples taxes.

Why should our elderly, sick and young people be living in poverty in one of the richest countries in history, just so the very rich can avoid a few% contribution to the society they benefit from.

We tried letting the wealthy keep more. It has proven to be a disaster.
1/3 decrease in investment, manufacturing almost gone, a relentless slide down the economic rankings, increasing inequality, massive hemorrhage of capital to financial gambling.

The way to get new money in the system and keep what is there is to bring back workers bargaining power (so money they have earned stays here a wages instead of disappearing offshore), tax capital flows, tax speculation, tax the wealthy more and use that money to invest in New Zealand (Including research and development as well as the health and education of New Zealanders), stop paying overseas banks to add zeros to their electronic ledgers and lend capital to ourselves. (Gaddafi’s big crime). As that arch lefty Adam Smith said. Tax the owners of capital and leave the producers alone.

Waiting for the private sector to re-allocate capital to benefit society has not worked, and never will!

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