David Shearer on Capital Gains Tax

The more I look at the video of David Shearer’s Q+A interview the more I think it was a train wreck.

Far from providing clarity on any issues or any policy in fact it clouded anything and raises the possibility that he certainly doesn’t know what he is talking about.

Take his answer on capital gains tax:

We’re not putting our money in the profitable sector; it’s going into the property market because we don’t have a capital gains tax that will help us direct money into those areas. And if you’re wanting to raise money, then at least put money into businesses- invest in businesses through the incentives of capital gains, and that brings, obviously, money into the government as well. 

So let’s get this straight…it takes a bit to unravel. David Shearer and Labour are wanting to bring in a capital gains tax. They want this because it will apparently “cool” the housing market despite the evidence world wide that this NEVER occurs. A quick look at Australia, who are close enough, will confirm this.  However since people will now get taxed out of housing because of Labour’s CGT they will now, according to David Shearer in vest in other areas like businesses which will grow in value, ie gain capital, which Labour will now tax so they can spend it like drunken sailors on shore leave…but the capital gains tax which Labour is counting on to stop investment in housing will also encourage investment in businesses.

Whew…I think I got that right.

I wonder what the BlaBlaMeter says about that:



Yep, Shearer is talking rubbish.

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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.