Don't you try to sneak that BS through, Blue Skies = BS
Labour Party political propaganda & BS which you willingly and willfully regurgitate.
You conveniently left out that it's not income but economic income : “Economic income” includes both taxable and non-taxable income, including capital gains.
The wealthy pay the bulk of the total income tax take.
The wealthy pay the rate of tax they legally should, including obviously the highest rates, on their 'taxable' income, as everyone does (remember the 28% corporate tax rate is at best just a timing deferral available to everybody with a company).
But yes, as this spurious fact used to put the boot into the wealthy under the Government of Envy, when you include the increases in value of their capital assets, you get a lower rate. But same would apply to everybody else who owns their own home, for starters.
So, this is just another article saying there's no capital gains tax. Advocate for that if you must, but don't use it like this to demonise those who've got off their bums, taken risk, and made a buck (paying lots of tax along the way).
And who kicked Capital Gains Tax for touch - Ardern the spin mistress. Most transparent government ever!
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