The release of the Tax Working Group report, with eight of the 11 members supporting the introduction of a capital gains tax, is an unnecessary invasion and assault on all hard-working New Zealanders.
It has to be acknowledged that we have a Government that is already running massive budget surpluses but in typical left-of-centre fashion they want to take even more.
How can they possibly say that the capital gains tax received will be tax-neutral when they have no idea whatsoever as to how much will be raised from such a tax? You can guarantee that they will find ways to spend it even before they have received it.
Furthermore, any small proposed tax cuts will easily be eaten up by additional capital gains tax compliance costs. If I was Labour, I would be dismissing it outright as after just 24 hours there already seems to massive opposition to its introduction.
Roll on Election 2020 as it will be fun.