Capital gains madness

A Bourne's letter (SunLive, September 28) takes aim at the inane tax ideas of the Labour regime to tax all possible.

There's merit in a capital gains tax applying to everything except owner-occupied homes. Looking deeper here, the prime reason looks to be about officials and bureaucrats desperately seeking to find new ways to increase and extract taxes from the public to fund the mushrooming spendthrift governance presently in vogue. It's not about equity. This all following an election in 2017 full of promises, including no new taxes.

Despite wayward left-wing political agendas, a capital gains tax on shares, property and all other gains seems fair. Provided personal tax rates were dropped so as overall it's tax neutral. Like that will happen!

The justification superficially is to restore fairness overall (mythical socialism), however there's no fairness if those paying too much now don't benefit from the change.

The reality is, less tax collections and less bureaucrat spending is best for the economy. The less thinking, considering or planning by bureaucracy about spending eliminates the need for new taxes. The less citizens are taxed for working, achieving and succeeding legitimately, the more an economy will grow, benefiting all.

I Stevenson, Tauranga (Abridged).

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