SHOTS FIRED!
SHOTS FUCKING FIRED!
CGT debate turns personal as Hipkins says Luxon earned more from property than being PM
Hipkins was also asked about National Party adverts highlighting beach houses would be included in the capital gains tax, and turned the focus onto what he called Luxon’s “tax-free” property flips.
“If Christopher Luxon wants to debate personal finances, bring it on,” Hipkins said. “He sold four houses last year and made more money tax freefrom doing that than he earned as prime minister.
“Why should he be able to make more than $600,000 in one year from flipping properties whilst the people who go out and work hard every day for a living pay tax on every single dollar that they earn.”
BOOM! SHIT JUST GOT REAL!
And there you go, the PM made $600k flipping houses and got away with paying any tax.
Get off your knees to the speculators Kiwi!
Why should a rich prick like Luxon make that kind of money when a targeted Capital Gains Tax aimed at the mega wealthy which will give us all 3 free drs visits plus pump more money into public health is a solution to the naked greed of Chris Luxon!
Labour’s targeted Capital Gains Tax is actually brilliant politics.
There is a lot of grumbling from the Left over Labour’s Targeted Capital Gains Tax with many saying it doesn’t go far enough.
Sure, but you are missing the true genius of what Labour just announced.
I’m not look to Chippy for the Marxist Utopia.
That ain’t him.
He is a decent bloke with true values who sure as Christ wouldn’t have given hundreds of millions to the Big Tobacco, Social Media Giants or Oil and Gas pimps.
The job of Labour is to win back the voters who voted Labour in 2020 and then voted National in 2023.
The soft middle is who the Future Fund appeals to and who this targeted Capital Gains won’t spook and will ultimately appeal to.
The 3 free GP visits per year is also an enormous win for working people who can’t afford to see Drs.
There is no point in Labour announcing a vast wealth tax to cannibalise vote from the Greens, that don’t get us to 51%!
Labour’s targeted Capital Gains allows the Greens and te Pati Māori to push the Overton Window left and it will be up to them to negotiate a better deal post election.
The screams by the right over Labour’s targeted Capital Gains Tax shows they are really frightened – good!
They know they are in trouble and that Kiwis who aren’t toxically polarised into voting ACT or NZF see the genuine worth in Labour policy and it is scaring the shit out of the Right!
Scream louder Right Wing Trolls, your tears are delicious!
Chippy is going to take the fight all the way to Luxon’s glass jaw.
Luxon might be rich, but he sure as Christ ain’t sorted after that punch.
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If Luxon was paid what he is worth as a PM he wouldn’t earn anything for that role.
He in fact OWES us for the generational damage caused by their imposition of Trussonomics.
Now comfortably the worst government in New Zealand’s political history (and they had some stiff competition!)
Oh and a message for the storm ravaged communities of Southland.
Don’t go spending that $100,000 all at once now, ya’ hear?
It certainly feels as if most of the population wants a fairer tax system.
Judging by the hysterical reaction from the incumbents, this CGT is a very good first step toward less tax on labor and more tax on extreme wealth.
Another entitled GEN X greedy selfish prick .Has the cheek to tell the under 25s to get off their arse and get a job while he manipulates the bright line test so he can sell a couple of properties and make $600k tax free .Then the self centered prick has the cheek to get Auckland council to lower the value on his beach house so he pays less rates .Next he will make beach houses rates and tax free .
He would have had to own each property for over ten years, with zero intention of making a profit, in order for the “capital” gains to be tax free. Very hard to prove otherwise to IRD when one is clearly in the business of flipping houses. Brightline rules are irrelevant here. Is an IRD audit pending? One should be.