Jacinda in shock over reaction to CGT

But, but I thought you would all like us sticking it to the rich pricks…

Jacinda is finding herself very much on the back foot over the TWG’s report, particularly the recommendation to implement a Capital Gains Tax. She must have been too busy playing with her phone during the 2011 and 2014 election campaigns when the proposal for a CGT caused Labour to tank even further in the polls. Like all good socialists, however, Jacinda has decided to press ahead with her ideology even though it was, and still is, effectively political suicide. Now she is seeing how toxic her ideology really is. quote.

The Beehive is reeling and sitting in the top office of the ever diminishing building Jacinda Ardern’s in a state of shock at the reaction to the Taxation Working Group’s report.

Ardern will be regretting ever making the “captain’s call” during the last election campaign with her insistence there’ll be a capital gains tax in the first term of her Government. There was almost a mutiny, with her lieutenant Grant Robertson taking charge by reining in the political novice and getting taxation off the political agenda for the time being.

Tax had been talked about so much they decided to hand it over to the Tax Working Group, led by Sir Michael Cullen, who knew better than to ever suggest a capital gains tax, correctly appreciating the political danger of it. end quote.

That in itself should have been enough to tell her that CGT is politically toxic but, like all good socialists who never met a tax they didn’t like, she forged ahead with her ideology, ignoring the fact that it would probably mean a one-term government. quote.

Now she’s wide awake to the political damage it’s doing to Labour, spending the first six minutes of her post-Cabinet press conference yesterday giving us a lesson on how to report it accurately.

Ardern was at pains to ensure the students understood her lecture. The debate should be about a fairer and more balanced taxation system and is most certainly not an attack on the Kiwi way of life as some have claimed.

end quote.

Typical socialist, ramming her ideas down everyone’s throats whether they agree with them or not. As for CGT not being an attack on the Kiwi way of life; it is exactly that… unless you never own any assets, including retirement savings, in your whole life. quote.

And besides, have a look across the ditch, she implored and see how few Aussies pay a capital gains tax.

end quote.

If you ever thought that Jacinda could not possibly be as stupid as she appears, all doubts are now dispelled. Once it is introduced, most people will be affected by CGT at some point in their lives but they won’t pay it every year. They pay it when they sell an asset… but the amount of tax they will pay on that asset sale is enormous. So what, if in any given year, very few Australians pay CGT? When they do, it will really hurt. quote.

In her setpiece lecture she told us small business and farming are crucial to the economy and she wanted to be clear, she said referring to her notes on the lectern, that the effects on them will be at the top of her mind when the options are assessed.

As the lesson was drawing to a close she told us the bleeding obvious: that the tax would be paid only when a capital gain is realised, or when an asset gets sold, so there won’t be an ongoing impost.

A Newspaper end quote.

Jacinda must think we are all as stupid as she is. We all know that. The problem is how much of the proceeds of the sale of the asset will disappear in tax. That is what everyone is concerned about.

Jacinda has demonstrated both her economic ignorance and her socialist tendency to lecture in one small press conference. She also has another issue to contend with. This is manna from heaven for the opposition.

Jacinda now has to make a choice, between her socialist ideology and political oblivion.

My belief is that she will drop her socialist ideals like a hot brick if they will cost her the glory and wealth that she now revels in. The TWG report is likely to be assigned to the dustbin where it needs to remain forever. Just another enormous waste of public money, but hey… photo opportunities are more important than anything.