Wednesday, 14 March 2012
A Capital Idea
I'm very glad Shearer has decided to stick with the Capital Gains Tax, it was a great idea during the election campaign and remains a great idea now. It shows a commitment to getting more revenue from those earning enough to be in a position to get capital gains, something that has been sadly lacking from politics in recent years. Make no mistake, a CGT is a tax on the wealthy, just as GST is more heavily a tax on the poor. With economic inequality rising in New Zealand, something has to be done to try and stem that trend and turn it around, and a CGT is a good place to start.
Does it matter that this is yet another example of Labour stealing policy from the Greens? In my mind, not really. Simply put, the policies of the Greens will result in a more fair and equitable society, but Labour, being a party which values being in government above all else, is in a better position to implement them. I have high hopes that in 2014 we will get a coalition with the ideology of the Greens and the cold political effectiveness of Labour. (Disclaimer, yes I know how ineffective Labour were in 2011, but look at the previous few elections, they were ruthless and icy.)