The St James Theatre in Wellington was packed this afternoon as several Labour party members gathered to announce Labour’s new tax policy. Present were leader Fartoomuchpressue and deputy leader Phonexia2 as well as finance spokesperson ComradeAnnex. Leader Fartoomuchpressure introduced ComradeAnnex to talk about the tax policy.

ComradeAnnex stepped up to the podium and began to speak.

“Hello New Zealand, today I have the honor of announcing our new Tax Policy. Rising Wealth Inequality is putting New Zealand’s economy in danger of massive asset bubbles and other forms of economic instability. It is driving the less fortunate among us into poverty while all the new money is funneled to the privileged few. To fix these problems and ensure a bright future for all Kiwis what is needed is comprehensive tax reform and if we get into government that is what Labour is going to do. Here is how.”

“Firstly, we will introduce a Corporate Capital Gains Tax at a flat rate of 25% and a personal Capital Gains Tax at a rate equal to your income tax. Not only will this ensure that the wealthy pay their fair share, as the rich make much more money off of capital gains then the impoverished, but it will also ensure that foreign investors can’t extract money out of our economy without giving some of it back. “

“Secondly, as was highly recommended by the 2010 Tax Working Group, which National promptly ignored. We will introduce a Land Value Tax at 2%. This will encourage landowners to do something with their land rather than just sitting on it while it’s value skyrockets, at the same time it doesn’t discourage the landowner from improving their land and it doesn’t allow them to pass the tax onto a renter.”

“Next we will create two new income tax brackets, the first for New Zealanders that make over $140,000 a year, who will be taxed at 40%. The second will create a bracket for New Zealanders that make less the $6,000, who we will now tax at 0%. This will ensure that those who make the most in our country continue to pay their fair share, while those without a leg to stand won’t have what little money they have taken away from them.”

“Lastly, we will implement a Basic Necessities Exemption for GST, in order to ensure that every New Zealander can afford a roof over their head, warm food in their stomach and clothes on their back.”

“Only with your help can we make these policies reality, so I strongly urge you to make your two ticks for labour on election day and help us build a fairer New Zealand with a future for all.”