Quote Originally Posted by Aaron View Post
A CGT won't change anything for property developers their income on which they are taxed would be considered capital gain for the rest of us.

Admittedly govt debt has doubled over the last few years and it is hard to see that anything substantial has come from it.

Tax rates don't need to rise with a CGT we could offset it by dropping GST or income taxes. Maybe if we had a CGT everyone would be paying roughly 20%.
Simple question which again, relates to what I posted before. How do other developed countries that have a comprehensive CGT, become far more productive and whipping NZ in increasing the standard of living? Specifically, why are houses more affordable in those countries? I will tell you why. It's because there are too many property speculators that have turned housing, into a game of trading shares of a company. They've commoditised houses where the losers are those that can't afford to buy one but are forced to pay the price. We have insane high land prices where the infrastructures are paid for privately instead of co-funded with the gov't. High levels of regulations 'Green Party' environmental restrictions, lists goes on. We're heading really fast to where we will be living in tents.