this post was submitted on 19 Jun 2023
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Jacinda turned up her nose at every opportunity to use her popularity to do some good. To her, making real change wasn't worth losing a few percentage points in the polls.
Hipkins can't follow in her footsteps if he wants to win. People want things to change.
I think you are mistaken about how many people want the radical change people online are demanding.
I'm not talking about radical change. Things like CGT are a no-brainer. I've never heard someone make a coherent argument as to why we should leave a tax hole that every other wealthy nation has closed. A hole that encourages people to invest in non-productive assets.
That's why everyone knew the Tax Working Group would recommend a CGT - because it's the first thing any tax expert says about our system. And yet Jacinda couldn't even bring herself to do that.
How has the CGT worked out in the other countries? Is there no inflation in those countries, do they have a fairer taxation system? Do they have better income inequality?
If you're expecting fixing a single loophole in tax law will solve all those problems at once, I've got some bad news for you.
But obviously that's no reason to leave a loophole there. As I said, any expert in tax law will tell you that it's stupid not to have a CGT. And I've never heard a remotely convincing argument for having a hole that encourages investment in non-productive assets.
My point is that it hasn't done what you are claiming it's going to do. So what's the use of it?
What am I claiming it will do?
Fix our economic woes? Raise the tax take? Provide better public services? Make the tax system fair?
Any of those?
If not then feel free to tell me what you think it's going to accomplish.
I think it will fix a tax hole that encourages investing in non-productive assets, which will improve our economy by increasing investment into productive assets.
Have a think about this - given that experts in the field all believe that we should have a CGT, what do you know that they don't? Do you know of a remotely convincing argument for having a hole that encourages investment in non-productive assets?
On a side note: You'll have a much easier time understanding the world if you realise not everything is black and white. Outlawing murder didn't fix all our societal woes, but that's doesn't mean it was a bad idea.
What do you mean by " investing in non productive assets"? Can you give some examples?
Has it done this in other countries when it was introduced?
This is economics. For every "expert" there is an equal and opposite "expert". What do you know that the opposing experts don't?
it did fix some of our societal laws. This was demonstrated in places where it was outlawed.
Do you know of a remotely convincing argument for having a hole that encourages investment in non-productive assets?
Define "investment in non productive assets".