ACT's David Seymour - i like his style.

[Aaron]

Why is an asset tax more socialist than an income tax? Indeed I think TOP reforms would actually encourage individual capitalist endeavour by encouraging the investment into income producing capital assets as opposed to non-income producing assets.

TOP wants to slash income tax which would be of particular benefit for those on the current top rates. Why is an annual tax on your house any more of a "socialist" concept than annual rates charged on the capital value of your house?

Besides all nz parities (including ACT) are socialist according to the second aspect of the following definition of socialism. TOP is not socialist according to the first part of the definition.

Socialism:
noun

• a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole. (my highlight)
  
  https://www.merriam-webster.com/dictionary/socialism

I think you will find if you have read FP's previous posts that he has made his money in real estate and has enjoyed tax free capital gains all his life(Yes you paid tax on the rent FP well done but be honest capital gains is what made you rich). An equity tax would be unthinkable and abhorrent to the likes of FP. I guess communism is the worst insult he could find even if it isn't correct.

In my opinion David Seymour heading the TOP party sounds insane, ACTs ideologies are almost at the opposite ends of the political spectrum (although TOP party is not even close to communism FP) to the TOP parties even if they both think it is the best way forward for the country. My understanding TOP is wanting to try and make society fairer/better(there is no perfect solution though) for as many people as possible whereas ACT's policies would tend to disproportionately benefit a smaller portion of society. David Seymour probably still believes in the trickle down theory for a better society.
To be honest a retired person living in a multi million dollar beach front mansion without any other investments would get right royally screwed by the equity tax so should never vote TOP out of self interest. And although these people would be worse off under a TOP govt I don't think they are the ones genuinely struggling to get by. It might even get some people thinking about investing in something other than just the most expensive house they can afford.