Thursday, September 4, 2014

Three years on and it is still a mystery, wrapped in confusion.

Three years ago A chap Goff was lauding a CGT as a solution to rising house prices.

Three years on and we have witnessed the demise of Shearer and the man who would be the answer is still trying to work out what it is, what it will tax and the original aim is long forgotten.

Wake up people it is just another fucking tax.
It is a backdoor Inheritance tax.
It is an envy tax.
It is in its early years fiscally negative.
It will be a boon to tax accountants, tax lawyers and financial planners.
The exemptions will make it inefficient.
It is a second bite tax unless inflation is deductible as the asset was acquired and improved using taxed money to pay GST inclusive bills for improvements.

Typical spend other peoples money socialists trying to buy the right hand seats in the Parliament.

Sheesh the man who would rule us has to consult around a supposed basic tenet of a tax four years in childbirth and he is clever? FFS.
That is before he has to negotiate with an overt racist, an obese criminal intent on avoiding extradition, an old grey mare from Waiheke with private resources many would aspire to, an old alcohol fueled warhorse with lingering delusions of grandeur, a wannabe poly who is unsure Armstrong actually moonwalked and chemtrails will be doing us damage, an Australian communist, a sartorial splendid anarchist and a bunch of votes from race based electorates.

That bunch Sir Bob Jones so eloquently described yesterday as labour's only hope of government;
a Labour government is currently only possible by incorporating the most abysmal line-up of no-hopers ever to have presented themselves in our history.


Psycho Milt said...

It is a backdoor Inheritance tax.

Excellent. Kids should earn their own fucking money. This aspect could be improved further by adding a front-door inheritance tax.

It is an envy tax.

This is a completely meaningless term. Envy can't be taxed.

It is in its early years fiscally negative.

Meh. Policy shouldn't be about the short term.

It will be a boon to tax accountants, tax lawyers and financial planners.

Only because the weaselry of anti-social people with money means no government can implement tax law that isn't full of accountant-friendly loopholes if it wants to remain in government. Blame the wealthy, not Labour.

Exclamation Mark said...

"Excellent. Kids should earn their own fucking money. This aspect could be improved further by adding a front-door inheritance tax."

How dare people aspire to providing their children with some financial security when the shuffle off this mortal coil.

gravedodger said...

Milt it is not necessarily about "kids earning their own fucking money" unless you wish to deny people the right to create something worthwhile and durable as a legacy over generations of endeavor.

In my younger days it was common to see a farm built by hard work and effort of generations being sold and carved up to pay death duties for no other reason than the operators had not spent their dime on estate planning and avoidance schemes. Fairness did not enter the equation.

Envy is a powerful item in the list of seven deadly sins and any tax that attacks invention, aspiration and wealth creation to pander to the lack of same among losers is always counter productive to progress.

Mr c is already accounting for mythical monies raised by this mess.
It is spent many time over already.
If he and his supporters are serious about a CGT then have the conjones to do what Douglas did with GST, make it certain, comprehensive, and have no exemptions.
We both know that wont fly politically dont we.

FFS the grieving family hock off the family home within a month of the remaining old bastards passing and it is OK to avoid his inheritance tax. No problem for a clued up family with a multi million dollar mansion but the poor bastards with an ex state house in Gore will lose thousands???
Fair my arse.

Psycho Milt said...

Don't worry - even in my younger days, and certainly since then, farmers were adept at fiddling things to avoid paying taxes, while whinging loudly about the government stealing their money. I don't doubt this is yet another one they'll take in their stride. that attacks invention, aspiration and wealth creation...

Yes, that would be a terrible thing. However, we're actually talking about rich people being made to pay a bit of tax on their inheritance money, just like the rest of us get to pay tax on our incomes.

Still, that's a good bullshit term - "envy." I'll have to trot it out when people go on about not liking special treatment for Maori...

The Veteran said...

If anyone thinks that a Government can tax its way to prosperity then more fool them.

The economic policies from the 'left'have nothing but nothing to do with growing the cake and are all about income redistribution. If NZL is stupid enough to vote 'them' into office then the economy will stall. Labour will have to buy off their support parties with cash it doesn't have and policies that are anti-growth, anti-trade and anti-competition.

And if that makes the boat go faster then clearly you still believe in the tooth fairy.