Capital Gains Tax nag is finally flogged to death

Labour and the Green Party have conceded that a capital gains tax would not be a "panacea" for New Zealand's unaffordable housing crisis.

Well, I never thought I'd hear that from the thieving left.

The two parties seemed initially flummoxed when a questioner at an otherwise friendly election forum organised by the Public Health Association in Auckland this morning noted that having capital gains taxes had not stopped housing price booms in Australia, the US and Britain.

"I don't know why they haven't worked in those countries," said Green health spokesman Kevin Hague.


Labour proposed so many exemptions in its capital gains tax that it would be ineffective.

"Perhaps that's why it's been ineffective in other countries"

We already have an effective capital gains tax.  Ask any property investor or speculator that fails to declare such gains.

The leftie thieves have suddenly realised there is no pot of CGT gold lurking out there to tax the life out of.  Or votes in whipping that dead horse.