The problem with a capital gains tax on houses is it is the first nail in the coffin. Once we accept that then other avenues for capital gains tax will open up. One wonders will the Government pay capital gains tax when they onsell state houses.
Many wealthy people have left England because of high taxation, we don't want to lose more entrepreneurial people to Australia or other parts of the world, do we?
The suggestion is typical of a labour Govt exposing their dislike of the wealthy, the intelligentsia and the successful. The choice of investing in business in NZ is not as safe as houses. Too many companies in NZ go under every year with no recourse to investors.
There needs to be a mandatory prison sentence for businesses that keep trading when they know they are in failure mode this may help protect investors.
BTW I don't have any money invested in housing.
Alastair Bourne, Bethlehem.


1 comment
Penalise kiwis for being successful
Posted on 12-07-2011 08:59 | By The Tomahawk Kid
The Labour party are an evil, immoral bunch of cretins, and if you ever needed more reason to avoid them like the bubonic plague, then here it is Labours new flagship policy under Phil Goof is the iniquitous Capital Gains Tax, and certainly sums them up for me! Goof wants to penalise Kiwis for being successful. He wants to penalise Kiwis for making plans for their future. He wants to steal the money you earn through your industry and intelligence, and give it to those who have no respect for either! Goof wants to give incentive to those who are not interested in saving for their future, which will guarantee New Zealand future generations of Kiwis relying on the state for their livelihood. Labour are out to persuade you (force withstanding) that Aesops fable about the ant and the grasshopper is wrong, and that the Little Red Hen was a crazy little clucker for working hard when all she had to do was to vote for the government who would force the others do the work, and then just eat 'their” cake. Labour want to bribe the lazy and unproductive to vote for them, with money they steal from the productive. The more kiwis they bribe into receiving free money, the more they will need to tax the productive to pay for it. When the unproductive have the majority (its fairly close to that already) you will get the paradise you all deserve. Its nice to eat other peoples cake sometimes, but it always tastes much better when youve made it yourself. When somebody offers you a piece of cake it generally tastes nice, but when you make it yourself it tastes better. Stolen cake leaves a bad aftertaste in your mouth and is never as satisfying and leads to indigestion.
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