quickymart:
https://thespinoff.co.nz/live-updates/21-04-2022/wealth-tax-not-the-way-to-combat-inflation-luxon
I had a feeling he might say this sort of thing - "don't tax the rich! They're my friends!" 😄
I mean it's a stupid idea anyway. Money sitting in assets doesn't really push up inflation unless they're being transacted at higher prices. The amount of money able to be thrown at them does. Which, I wryly note, the Greens had as a central economic policy for many, many years.
Taxing people for effectively just having stuff sitting around in the name of 'fighting inflation' so the government can spend even more within the economy is the dumbest thing and I get annoyed that the Greens fantastical garbage like this gets reported on as if Luxon is the problem, not the horrendously dumb as hell idea he's responding to.
Mind you, National had a hard time selling the idea of 'the government is causing inflation AND taking more tax off you as wages increase to try and keep up with the inflation they caused" which should be the biggest slam dunk for a centre-right party you can imagine.