Some thoughts:
- I thought I understood the logic behind a capital gains tax (CGT), but after a cursory look at the details on Kiwiblog, it just looks scary & complicated. Granted, I know jack, but I think a simpler approach would be better. A 5% CGT on everything would be preferable to a 15% tax on some things and not on others.
- I don't like the fact Labour's plan is to spend the any money the tax raises.
- How much would a top tax rate at $150k actually make? Is it worth implementing if people just restructure their finances to get around paying it?
I really do welcome Labour being bold on economic policy. But I don't like this. Too complicated!
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