“We need a CGT to get those horrible property speculators” WTF?
I have owned rental properties for over a decade. How the hell is that speculation?
I pay net tax on my rental property portfolio. Sure I could buy more houses to gear it back again, but you know what? I already spend quite a bit on personal super, plus KiwiSaver, plus slowly accumulating an “oh shit” sum of money. I don’t want to lower even further my discretionary spend by topping up rentals. I did that for the few years it took to get them into a profit situation, and I don’t want to go back.
I want to have trips to the Gold Coast, and Europe, and Vancouver. I want to eat out when I like, drink what I want. I want to be secure in the knowledge that it’s not going to go tits up if I lose my job, or decide to take six months off.
How does that make me a speculator, or “rorting” the tax system?
spiderpig
“Communism is too right wing for me” – Bradbury.
And he’s probably not joking.
axeman
That dead slug is slowly moving backwards on Bumber’s shiny forehead.
reid
Cam re: Keynes, look at Commanding Heights from PBS.
You need to know the Keynes-Hayek history cause it comes up all the time and it’s past time the message got out about it.
reid
Apologies Whale, for implying you don’t already know all of that, if you do…
