Capital gains tax is an issue of inequality

I support the theory of a capital gains tax (CGT) as I understand it.

The simple truth in our economic system is money makes money.

Especially when invested in less liquid assets (houses), which shelter it from income tax.

Then trusts can be set up to help transfer this wealth to the next generation.

All the while entrenching inequality in as many ways as possible by allowing those with money to make more without paying tax on the profits. This is not fair.

I come from a wealthy family and, though I currently own no assets, I have had an excellent education.

In my life I hope to own a house and save enough for retirement to be able to chase fun activities when the clock ticks 65.

A capital gains tax will not affect me much.

If I start a business, it would have to be a large business before it’s affected.

The rest I accept I will pay because I am privileged to have surplus profits to pay tax on.

Nothing is ever achieved if you only focus on the costs without careful appraisal of the benefits.

New Zealand needs a CGT for social cohesion and along the way it might even help with our housing issue.

Let’s have more focus on why a CGT is proposed. Keith Finlayson

New Zealand needs a CGT for social cohesion and along the way it might even help with our housing issue.