Originally Posted by
funguspudding
Ring fencing any taxable activity flies in the face of common sense. It will never happen for the very sensible reason that it could leave tax payers having to pay tax out of money they do not have and never have had. Muldoon tried a similar bit of nonsense with interest claims. He also tried claw back tax, which was nearly, but not quite as disastrous as
Rowling's spec tax. All have acheived the opposite of what is intended. NZ already has an extremely high rate of home ownership, so something is working and doesn't need 'fixing'.