Thanks Grant. Wonder if the negative reactions from both sides is making Chippy regret this decision? He had so many factors on his side to support a CGT or wealth tax, seemed this was the moment to do it - 2 large reports recommending CGT(Cullen tax report to Ardern & recent IRD report), survey supporting wealth tax, recent IMF report recommending CGT.
Not sure why Labour investigated a wealth tax vs a CGT. CGT is more orthodox (OECD countries minus NZ). Even the name ‘wealth’ tax invites attack lines from Nats/Act
I wonder that too, Aaron! There's a lot of frustration on the left about it. Chippy could have taken the lead on this. I thought Cullen's rationale for CGT was sound. It's better if it's on realised gains, so you don't pay a tax on losses in value. Now I see he's coming out competing with Nat/ACT on law and order, using words like 'crack down' and 'accountability'.
Thanks Grant. Wonder if the negative reactions from both sides is making Chippy regret this decision? He had so many factors on his side to support a CGT or wealth tax, seemed this was the moment to do it - 2 large reports recommending CGT(Cullen tax report to Ardern & recent IRD report), survey supporting wealth tax, recent IMF report recommending CGT.
Not sure why Labour investigated a wealth tax vs a CGT. CGT is more orthodox (OECD countries minus NZ). Even the name ‘wealth’ tax invites attack lines from Nats/Act
I wonder that too, Aaron! There's a lot of frustration on the left about it. Chippy could have taken the lead on this. I thought Cullen's rationale for CGT was sound. It's better if it's on realised gains, so you don't pay a tax on losses in value. Now I see he's coming out competing with Nat/ACT on law and order, using words like 'crack down' and 'accountability'.