The US still has an inheritance tax too (although a weak one).
If they actually enforced their own tax laws they would be overall more progressive than NZ esp with no sales tax.
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Dont think there will be much in way of reductions in any other taxation if a CGT ever got brought in
Look back no further to the same Labour's non performances on promises following introduction of GST
All smoke, mirrors and grandiose lies ;)
And who does Dozy Parker expect to swallow the convenient widened theory that capital gains of any sort form income ? ;)
Surely the sharp tax collectors can't have been doing their job right if Comrade Dozy's tax rate claims come out well south of the lowest effective tax rates in play for the selected band of wealthy examples .. ;)
We might need thousands more Accountants, Valuers and Civil Service bods to deal with all the extra red tape on an even more poorly concocted excuse for CGT.
A poorer excuse for a Labour Govt will have even less of a clue on how it should operate than last time they tried spinning the same wheel only to be left looking idiots ..
Is Mahoota available to start the drafting job for the hapless Dozy Parker's attempt to respin the last failed CGT wheel ? ;)
The CGT stance is likely to quite nicely turn around and see most of the peasants on the street also bitten badly on the backside whether they realise it or not ;)
Almost as good as Robbo trying to tell everyone that some Interest expense is not a business expense
against all prevailing principles.. ;)
Look where that went and who wound up mostly on the paying end for those changes ;)
These sort of weird and wonderful inspirations can always be expected from the Socialist comrades of the
failed Desperado cause headed for the exit door very soon, but not awake enough to see that they are signing their exit visa's in even retracing back to past badly failed attempts ;)
Everything is fine and dandy in trying to slingshot in more of the private wealth on any old poor excuse to cover the gaps in the Govt's haphazard and excessive path of wasteful squandering and consultants to cover for their own total lack of clues ;)
A Labour thing - isn't it ? .. and probably yet another failed one :)
I'm not in favour of a CGT because I believe that the allocation of resources done by individuals is going to be far more efficient than what the government would be able to do. In the long term, all New Zealanders are going to be better off with the extra investment done by wealthy individuals without a CGT, than the benefit some may receive with a CGT.
"I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle."
Funny how a decade of loose monetary policy incentivises firms to take lots of debt on, isn't it? The governments ability to repay debt on time is by no means an indicator of its ability to efficiently allocate resources. Private institutions are driven by profit, meaning where its necessary firms will enter and exit markets. What are government employees incentivised by?
So taxing the backsides off the Private Sector just so the Central Govt bureaucracy can blunder on in wasteful squandering is the answer ? ;)
Very soon the AA+ buckles when those being harvested are no longer harvestable :)
It all sounds like a dumb shortsighted Socialist scheme for killing the golden goose ..
Only a Dumb Socialist would try revisiting past history, rejection of the idea and previous
failed CGT initiatives few on the front bench knew how they would operate :)
There is a whole Labour front bench of that sort of desperate deficient talent ..
The Bureaucracy have spent how many hundred years firmly attached to the tit of private sector and private enterprise sucking away ? ;)
Without it they would wither and die - would they not - peasant friend ? ;)
You like South America - say Costa Rica ?
Many peasants there and smart money all run away :)
If Comrade Parker wants to start poking the tigers at large, then he and his incompetent mates risk get badly bitten or savaged yet again - surely ? ;)
It wouldn't be the first time an incompetent mob of Labour nincompoops have tried their luck and paid a price for their stupidity :)