Capital Gains Tax

[Aaron]

I think that is a separate issue and needs to be addressed specifically. We all know that that commonly involves using negative gearing losses to offset other incomes.

I think that is the issue. Belgarion's friend is making very little income due I assume to borrowing to invest. If he invests well any gains will be tax free. Good on him to for taking the risks and getting the returns.

The issue is, why is the return from his efforts earning income being taxed but the capital gain portion of his investing efforts remain untaxed. Is it harder working 9 to 5 or holding an asset that is increasing in value by 5%-20% per year. We tax income and consumption why not wealth? In fact wouldn't the wealthier we become mean we are in a better position to contribute to society.

Another important election issue is how are they going to spend our tax dollars. I don't mind paying for a lot of what the government spends our tax dollars on e.g.hospitals, schools, police, national super etc. But surely there are areas where spending can be cut to reduce the deficit instead of increasing taxes. I guess we will all vote for whatever is in our own best interest but I hope we aren't all knowingly being bribed by the politicians leaving our kids to pay the bill later.