Simon Bridges is the most tone deaf National leader since Donald Brash and will share one further similarity with him, he will never be Prime Minister.
Big call I know but I am prepared to make it now.
Essentially because his judgment is so awful.
Take for instance this tweet which matches his rhetoric on the issue:
It received the attention it deserved:
The burn was particularly strong in this one:
And the rich opinionated and irrational sector of the population made an appearance.
It is very sad that Simon should engage in doing his best to scare the bejeebers out of everyone, or at least his supporters. If he actually wanted to achieve something he would debate the detail. Because I suspect there is going to be a big debate about if the CGT should apply to land only or to all capital.
Liam Dann has said this:
Is this Government going to bet it all on a comprehensive, once in a generation, tax revolution – one that affects nearly every New Zealander via KiwiSaver, small business and the family bach.
Or has it, in a political masterstroke, reset the dial on Capital Gains Tax to the extent that introducing a tougher regime targeting property investors now looks mild-mannered and relatively uncontroversial.
I’m inclined to think the latter.
Early days but comprehensive change will not be easy given the need to gain New Zealand First support and get past the next election.
I suspect that the Government may decide that a capital gains tax on everything is too difficult but of course a capital gains tax on land apart from the family home, easy to administer and quantify, should be introduced. All that will be required is an extension to the current bright line test. The system is in place. In the future instead of having a period of time during which if land was sold tax would be paid there will now be a general expectation that tax will be paid on an increase in value unless it is the family home that has been sold.
And what do I think?
My father worked in a factory for most of his life, paid tax on his earnings and saved them for his retirement. I have done something similar, worked at my law firm, and built up the good will in the expectation that I could eventually sell it and retire.
Seems to me completely fair that I should pay tax just as my father did.
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