The Northland Age

Time to tax profit


We live in a country and a world where, to our shame, the gap between those well off and those who aren’t, continues to grow. The idea of a tax on record profits of banks and large companies, that have come about due to factors for which they have not been responsibl­e, deserves serious attention. It could be one positive step towards redressing the gap. And by the way, what about a capital gains tax on investment property profits produced by the market and not by any efforts of those fortunate enough to own property? It’s the same principle, isn’t it?

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