David Farrar says a capital gains tax is a good idea. There’s one basic problem with the NZ tax system, and that is that politicians like Bill English spend too much money. I am not prepared to entertain any changes to the current taxation regime whilst useless institutions like Radio NZ and the Dept of Women’s Affairs (for just two examples from the hundreds available) continue to exist.

There is only one “fair and equitable tax’ and that is a poll tax, with a flat rate tax as an acceptable alternative. Progressive taxation is one thing choking off economic growth in this country. Overspending by government is another. A capital gains tax only worsens these two problems. Once again, the persistent political weakling John Key caves in to the left and their destructive ideology.