NZ Loyal propose 1% Transaction Tax to replace income tax, company tax and GST

‘New Zealand LOYAL is committed to creating an atmosphere of cheaper goods and services and increasing economic activity as a whole, while allowing for more expendable income for all Kiwis.’

In a statement yesterday leader Liz Gunn outlined the party’s taxation policy.

The announcement is the second part of the party’s Monetary and Taxation Policy – the first part, released on 17 August, addressed New Zealand’s reliance on fiat currency and the role and ownership of the Reserve Bank.

The 1% Transaction Tax

‘It’s absolutely doable if we stop the naysaying, the complaining, the pulling down, the deriding, the sneering, and instead, pull our sleeves up as so many Kiwis are doing now and say, “Let’s make this work!” Anything would be better than what we have now. So today’s statement is the one that will go across the whole of New Zealand. It affects every New Zealand family because it’s all about taxation.

‘Taxation is the big one because in the last few years with the Covid response we have seen around the world that governments have crushed the middle class. They’ve closed down the mum and dad businesses which were once the powerhouse, the engine room of middle class aspiration and building and creativity. They’ve tried to crush us here in New Zealand, but New Zealand Loyal knows that with the right help, the mum and dad businesses can be rebuilt very quickly, our middle class can rise again, and from the ashes of this would-be communism and marxism that this government and sadly National, and Act, all stand for, all 120 in parliament at the moment, from the ashes of what they would give us, we can rise like the Phoenix country and make sure through taxation that our middle class do really well. So let me be brave and launch in.

‘My belief is that taxation is theft, plain and simple. You only need to watch the recent furore over the insignificant proposed changes to the tax system here in New Zealand to realise that it’s all a distraction. It serves no purpose other than to keep you debating over, frankly, inconsequential issues. And that is the furore over GST. By removing GST on food alone, it will do very little for low-income households. Really, it’s nothing more than virtue signaling, and frankly, it’s pathetic,’ said Gunn.

New Zealand Loyal instead will ‘completely upend the practice of theft by taxation. Yes, we’ve heard all the arguments about needing taxes to pay for hospitals and schools and roads and even payments to beneficiaries. Yet the income tax component of this theft is not in fact used for those purposes. You see, the income tax is extorted from you to pay for the loans taken out by the government using your future productive capacity as collateral. It’s a cynical system indeed.’

Gunn said the ‘Reserve bank under New Zealand Loyal governance will function in the capacity it should. All government expenses will then be easily afforded.

‘So when building roads, hospitals or other vital infrastructure projects, the money will be created for that purpose, that specific purpose. And of course then at the end we will have a state asset, it will be your asset, the people’s asset, and it will be a state asset of equal value to sit on the other side of that ledger.

‘So, what makes a New Zealand Loyal tax system better than what is currently on offer and currently being debated? In my humble opinion, I would say everything. Income tax, GST and company taxes will all be abolished. In their place, we will offer a very straightforward, a very simple 1% financial transaction tax. That means that each time a financial transaction is made, 1% of the cost of that will be taxed. You buy a $5 coffee, you pay 1% tax back to the government, but you buy a $5 million house and again, 1% of that $5 million goes back to the government.

‘An upside of this is that as a result, there will be no further need for Inland Revenue. And that, of course, is an immediate saving of approximately a billion dollars to run that, well, I would call it frankly, an extortion agency.

‘What benefits will we see from this drastic overhauling of our tax system? I’ll give you some examples that will drastically reduce the cost of producing goods and delivering services. Your purchasing power will exponentially increase. Your fuel prices will absolutely decrease. Less time and expense will be spent on taxation compliance, something that we all dread and loathe. There will be more start-up businesses and those in turn will see feeder cottage industries created. There will be a big increase in employment opportunities across New Zealand and there will be a serious decrease in tax related court cases that can result in suicides and of course the stress that goes with all of the Inland Revenue Department overreach. There will be a vast improvement in Kiwi’s ability to save. There will be many other opportunities for Kiwis to be advanced by this very advantageous change to our New Zealand tax system.

‘The tax generated from the 1% financial transaction tax combined with the power to issue our own debt-free money and to stimulate the economy, it is an absolutely viable plan for all New Zealanders. The naysayers, I believe, are either frankly unable to do basic maths or they may have a vested interest in your poverty, your struggling. The taxes extorted from you every day often get used on wasteful pursuits that have little to no benefit to you. And perhaps it might be useful here to have a quick look at several of these ways that money, our money, is wasted.

‘Let’s begin with foreign aid. This is very much under policed and it is rife with moral hazard. Where does the money go? How is the money that we give in foreign aid used? And here I have to ask, is some of it money laundered abroad and then possibly even sent back here into the pockets of political factions? That is not a ridiculous question when you look at what was recently found to have happened in the US relative to the FTX scandal, where entities in Ukraine used US military aid money to purchase crypto assets from a US active exchange, FTX, whose founder, Sam Bankman-Fried, then donated the money earned from these offshore purchases to politicians of his choice.

‘Once you take control and bring yourselves to power by electing New Zealand Loyal, we will commission a thorough accounting of the foreign aid element of the budget and likely seek to eliminate it.

‘Let’s have another example of wastage currently extant. Providing a means for controlling the press and media. That’s very important now because the abuses are well known. The New Zealand mainstream media has become really just the lapdog of government, and most of us know it. And why is that? Because they derive so much of their funding from government sources. Well, we at New Zealand Loyal shall very quickly put an end to that. This will not only free up the media to do their job properly, and many of them will need replacing because of the dishonesty they’ve shown us over the last years, but of course it will also save us money. I’ll be dealing with the media in a future policy announcement for New Zealand Loyal.

‘And of course, as you will have a lot more expendable income, you’ll be able to choose to support any outlet that provides you with the best unbiased information. Those who do a shoddy job will topple and fall and fail, as our mainstream media here should have long ago.

‘Another way in which we can overcome wastage, of course, is the public health system operating cost. That can be substantially reduced. It’s currently nothing more than an over bloated administrative nightmare and frankly a black hole for funds. So imagine the savings that they shall ensue when our doctors and nurses are free to practice what I call real medicine, real health practices. And that’s all about prevention instead of lifelong chronic disease management. What about the wonder drugs like ivermectin, which is said to be an effective cancer treatment, being allowed to work their magic without big pharmaceutical interference and suppression.

‘And then there’s the wastage in our universities. Yes, many of us now see we have an extremely bloated and top-heavy university system in New Zealand, which like the media, has also sadly become a lapdog of the government. I mean you only had to witness the way the academic class here with their army of extremely well-paid deans and administrators enforce the utterly inhumane planks of the Government’s covid response.

‘And then there’s the indoctrination of our students. There’s the gender-bender ideology that has been adopted without any critical thinking at all. We again will be talking about this in future policy announcements. No, the universities need to be severed in large part from government and also from special interest funding to save your money and to make the universities honest centres of critical thinking and learning again, where we produce intelligent adults instead of those simply hypnotised and collapsed and indoctrinated into a very failed government-pushed narrative.

‘You will think of them. I can think of many more. There are so many ways to cut expenditure from wasteful, needless spending. And therefore, of course, New Zealand will require far less core operational costs. Any taxation should be on the exchange itself and not as a burden on you, the people. It should be used for the legitimate needs of the people, of the infrastructure. And it should also be as a social safety net, should that be required. When New Zealand Loyal puts in place policies that will revivify and resurrect the New Zealand economy and recreate a full spectrum economy in which all able-bodied Kiwis will be able to find a productive place and create a satisfying life instead of sitting around at home playing video games. Well then the need for public income assistance and welfare benefits will shrink considerably. These payments were always meant to be just a safety net. They were always meant to be used on a temporary basis by Kiwis who found themselves in unexpectedly dire circumstances. The various criminal New Zealand governments have made that net into really an entire bottom basement to house a near permanent underclass, which is then pitted, of course, against a struggling middle class. And that plays into the whole governmental divide and conquer style which we’ve seen come to its peak under the Labor Greens, but which has really been building for decades.

‘No, on the flip side of that, a really positive flip, we can recreate our economy here in New Zealand. The social safety basement will be retired altogether and the much lighter net, the safety net, will be reinstated. And we will as a society not only save money but there will be much more peace, there will be more happiness, more harmony internally here in New Zealand.

‘The bottom line is with the right reforms, the budget will massively shrink and taxation will become almost a non-issue.

‘The so-called tax problem is really a symptom of a corrupt and deeply distorted spending problem. No, we at New Zealand Loyal shall no longer allow this façade to continue. We do not want to to see these flames of discord continue to be fanned and this Labour Greens government has really excelled at that and certainly at nothing else. The flames of discord where employees are pitted against employers, where the poor are pitted against the rich, where beneficiaries are derided. An economic plan to ensure these things are common practice has been in place. And we have seen deliberate impediments to growth inserted everywhere in New Zealand. All of that shall stop. This entire system, in fact, must and shall, under a New Zealand Loyal government, be torn down.

‘The International Money Masters control the debt of almost every nation on earth, as part one of this policy position illustrated to you, and that was put out last Thursday. They have no loyalty to people, no care for us. They have no loyalty to nations. They are loyal to themselves and they ensure a constant state of antagonism in order to conceal and cover up their misdeeds towards all of us across the world.

‘Well, here in New Zealand, when you vote in your New Zealand Loyal government, it stops here and it will stop now or at least after the 2023 election in October, it will stop if you, the people, say with us at New Zealand Loyal, it stops.

‘That’s what we are. We are Loyal to you, the people. We are not loyal to the international money masters, to the shadowy figures lurking in the hallways of globalism. We are Loyal to each other. We ask you to roll your sleeves up to sign up to help us, to be willing to deliver the brochures, to get out and door knock and in five minutes, you can say to people, would you like a 1% transaction tax? And that would be it. Nothing else.’