NZ Politics

I think journalists are unintentionally doing a disservice to the Greens’ wealth tax policy when they talk about in a single sentence. RNZ said something along the lines of “income guarantee, and tax changes, including a 2.5% wealth tax”.

In reality the wealth tax is only on wealth above a threshold that is set at $2m net per person. So few people will be hit by this, and those who are will be hit for less than they likely imagine. That’s a key part of it, I’d argue even more key than the actual %, yet if it gets glossed over it becomes a point by which people end up hating the policy, without even understanding the policy.