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  "description": "10 News Stories They Chose Not to Tell You",
  "path": "/your-daily-ten-10-2026-111/",
  "publishedAt": "2026-06-22T22:00:43.000Z",
  "site": "https://goodoil.news",
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  "textContent": "**This is edition 2026/111 of the _Ten@10_ newsletter.**\n\nHi all,\n\nThis is the Ten@10, where I collate and summarise ten news items you generally won't see in the mainstream media.\n\nEnjoy!\n\n* * *\n\n## 1. Tall Poppy Economics: the politics of envy won't make New Zealand rich\n\n _Ano O'Brien_\n\n  * 🧾 The Green Party’s 2026 tax policy is framed as fair and modest, targeting the “super-rich” and large corporations while offering tax cuts to most earners.\n  * 🎯 Critics argue the policy reflects a deeper ideological agenda that distrusts wealth creation, investment, and high earners.\n  * 💰 Key measures include a 2.5% wealth tax above $10M, a 33% inheritance tax over $1M, a 45% top income tax, higher corporate taxes, and new levies on banks and multinationals.\n  * 📉 The plan is expected to raise billions in revenue while funding a tax-free threshold on the first $10,000 of income.\n  * 🏗️ Wealth is described as productive assets (businesses, shares, property), not idle cash—meaning taxes on it may force asset sales or reduced investment.\n  * ⚠️ Annual wealth taxes on illiquid assets could pressure business owners to cut jobs, sell companies, or relocate capital offshore.\n  * 🧠 The critique argues the Greens treat the economy as a fixed pie to redistribute, rather than a dynamic system driven by risk-taking and investment.\n  * 📊 Capitalism, while imperfect, is credited with dramatically reducing absolute poverty and improving living standards globally.\n  * 📉 The Greens are accused of conflating relative poverty (inequality) with absolute poverty (basic deprivation).\n  * 🌍 Historical evidence suggests wealth creation—not redistribution—has been the primary driver of reducing poverty.\n  * ⚖️ The policy is framed as driven by resentment toward success, portraying wealthy individuals and corporations as villains.\n  * 🚨 Wealth taxes may trigger capital flight, reduced investment, and fewer new businesses or skilled migrants entering New Zealand.\n  * 🏦 Higher corporate and bank taxes are likely to be passed on to consumers, workers, and shareholders rather than absorbed by firms.\n  * 🏠 Property tax changes (removing interest deductibility, extending bright-line test) may reduce rental supply and increase rents.\n  * 🌐 Taxing multinational tech firms has merit but risks unintended consequences for a small, globally dependent economy.\n  * 🎁 The tax-free threshold is presented as a benefit but seen as minor compared to broader economic risks.\n  * 🧩 Multiple simultaneous tax increases may compound behavioural changes that reduce growth and investment.\n  * 👨‍👩‍👧 Inheritance taxes may undermine family motivations to build and pass on wealth across generations.\n  * 🏁 The critique concludes that prosperity depends on wealth creation first, and redistribution alone cannot generate economic growth.\n  * ⚡ Overall, the policy is portrayed as prioritising redistribution over growth, potentially shrinking the economic “pie” rather than expanding it.\n\n\n\nRead More\n\n### This post is for subscribers only\n\nBecome a member to get access to all content\n\nSubscribe now",
  "title": "Your Daily Ten@10 - 2026/111",
  "updatedAt": "2026-06-22T22:00:42.961Z"
}