Tax exorbitant profits from real estate

In reply to Graham Clark's letter re: the Capital Gains Tax etc.
Graham and I agree on one subject, atheism, yet he and I have opposite views on the subject of Capital Gains tax. Why should the wealthy become richer through their exorbitant profits from real estate sales?
We – the common public – pay taxes on all earnings, wages and salaries etc, plus GST, so the bureaucrats must pay tax on their unearned income! Australia and some other counties are taxed on Capital Gains, so NZ must follow suit, especially with our burgeoning borrowing at a record high! We are becoming indebted alarmingly so, like Greece, Portugal and the USA, along with some other countries.
We, the World, seem to be hurtling into bankruptcy, so countries keep borrowing more than they are earning with dire consequences. Mr Goff deserves much credit for his actions, which should have been actioned years ago.
Ernest M Izett, Tauranga.

1 comment

Labour attempting to Legalise Theft

Posted on 24-07-2011 13:10 | By The Tomahawk Kid

The issue Mr Izett and I really disagree on is "The Use Of FORCE" and Property Rights. Mr Izett has a severe case of ENVY of "the wealthy" and despite having had the same opportunity as others to accumulate wealth he has opted not to, and now wants to snatch a bit of what others have had the fortitude to acquire. He says "Why should the wealthy get richer because they are clever with the money that they earn? (and Im afraid I do not come into that category, as I am probably in the same boat as he!) If that is his argument, then lets apply it in reverse! Why should those NOT wealthy benefit from NOT being clever with the money they earn (or are given - free of charge from the work of others). For many, being wealthy can be put down to hard work, innovation in business, sacrifice (ie going without while they save) and taking risks. Being wealthy is not some made up god-given right - it is EARNED - . Just because other countries do it doesnt mean our country of sheep should follow suit. A country cannot TAX itself out of debt and into prosperity- that is like standing in a bucket and trying to lift yourself up with the handle - IMPOSSIBLE. I certainly align myself with Mr Izett on his views of religion, but he has a terrible insistence of wishing to impose his views on others through the use of force. Mr Goof is attempting to LEGALISE ROBBERY, attempting to BRIBE those WITHOUT to vote for him by offering them a share of what other people WORK FOR. He, and all those who vote for this immoral system should be ashamed of themselves


Leave a Comment


You must be logged in to make a comment.