Wednesday, 6 July 2011

Phuck you, Phil

Phil Goff has pledged to deliver a Capital Gains Tax if elected in November,partly to fill the multi-billion dollar gap between his promises on spending and what he can steal from taxpayers,and partly to demonstrate to the world his abject ignorance of how the world works.

Goof reckons the tax will make housing affordable again--housing he reckons was made expensive by "speculators."

Phil, you are a moron.

Housing prices boomed under your party's watch because the Reserve Bank inflated the money supply by around ten percent per year, which spilled over into the housing market, and because planners used their powers under the
RMA to strangle land supply in NZ's cities.

And if he thinks a Capital Gains Tax would have stopped this -- if he thinks his new tax would somehow ha,he defied economic reality -- then I suggest he look at the experience of every Western country that had one, where in every place it did nothing of the sort.

Which is to say the tax would be wrong, immoral and iniquitous. So no wonder it's going to be flagship Labour policy this election.

8 comments:

  1. Phuck you, Phil.

    The only good point is it buries Labour this election.

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  2. So according to Goofy a CGT is meant to divert investment away from the property market AND also produce sufficient taxable gains from property speculation to fund Labour spending policies.

    Nice trick Phil. The man obvious thinks we are all stupid.

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  3. @ Anonymous said...

    TKS ??
    Judi


    Judi - I think PC meant the RMA. Maybe his spellcheck (iPad?, perhaps?) autocorrected RMA to TKS because it didn't know what RMA meant?

    Dan.

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  4. What a good idea. Lets all vote for a party who is going to tax us some more. That should work, solve NZ's problems. Or make the population scratch it's head and wonder where these people get their common sense from.

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  5. IF any party wanted to actually increase the productivity of NZ they would make passive income streams tax free. It would make property unattractive, because all the additional risk with defaulting tenants and maintenance and rampant pocketbook rape via local govt extortion would all be seen as too bloody onerous and not worth the hassle. Money would be put into term deposits and perhaps may even find it's way into well run companies who make profits and pay dividends on the sharemarket. The people who would benefit most would be the retirees. So if sold correctly it could be a real vote winner.
    But alas all the bad press from the consumers and parasites of wealth would be splashed all across the evening news, and the rich pricks would be rorting the system and not paying their fair share...whatever the hell is.
    Instead we get the politics of envy. The Greedy and envious despising those who create the wealth, so want to take it off them to give to their loud mouthed supporters.
    Well PHUCK THEM ALL, dirty socialist ignorami. A CGT is just another excuse for politicians and central bankers to print more money, to create inflation and steal the wealth of retirees.

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  6. The CGT is the easiest tax in the world to avoid: just don't sell. Those who buy and sell multiple properties for a living are classed as traders anyway and have always had to pay taxes on the profits.

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  7. Maxx

    1. That's only if the CGT is only on realised capital gains....

    A CGT can also be applied to unrealised capital gains too!

    2. What happens to those who set up businesses or buy an investment property to sell at their retirement?

    They will be taxed under Labour.
    So Labour is proposing to whack a whopping big tax on retirement savings.

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