‘New Zealand's richest people have paid more than $500 million in extra tax after an Inland Revenue crackdown.
IRD investigators have unravelled the complex tax affairs of individuals who have, or control, more than $50 million each to ensure they pay their fair share of tax. … Since the unit was set up in 2003, it has collected $467 million.’
Hang on, I need a wine to steady my anger down to rant, again (a wine which, with the excise taxes, I've probably paid fifty percent more than I would have had to in an actual free market. Dashwood Sauvignon, Marlborough, by the way, currently best buy for those who've blown the wine budget).
Unfortunately my advocacy of laissez-faire capitalism - noting the crony capitalism we have is to capitalism what sea horses are to horses - has never been about money; it's only ever been about that wonderful, evolutionary thing that capitalism, and only capitalism, is based on - the voluntary transaction. I'm a freedom freak: peace baby, the true sixties legacy, not those suited communists in the Greens Party whose every policy is the advocacy of force. Only on the voluntary transaction can there be a voluntary, free society. I said unfortunately because this has meant that while I'm comfortable, I'm not rich enough to build a space station. That's what I would do if I had money in real quantity. I'd build a space station and remove myself from the ugly, brute society we've created for ourselves, yet again. As generation text say, 'I'd be outa here'.
Related Posts: Chris (The Fist) Trotter.
Quoting from Stuff, 5 August, 2012:
"... roughly 40 to 50 percent of total net income tax is paid by those in the top 10 per cent income bracket, suggesting that the tax burden falls most heavily on the wealthy".Hattip Cactus Kate.