Sir Roger Douglas on a capital gains tax: ‘It’s all about power’

The former Labour Party politician, who is best known for his role in the radical economic restructuring of the 1980s known as ‘Rogernomics’, told Magic Talk the country is heading in the wrong direction.
Let me tell you, we’re not in great shape financially.
“I think broadly, it’s a joke,” he said on Wednesday,
when asked about the prospect of a CGT.

[…] “You have Cullen saying that he doesn’t really hate the rich but hates poverty. He is inferring, of course, that if we have this capital gains tax, somehow it’s going to eliminate poverty, or at least help the position.”

[…] Sir Roger suggested the Government look at how it can use its money more efficiently, instead of funding policies such as fees-free tertiary education and the Provincial Growth Fund.

[…] On the fees-free policy, Sir Roger explained: “You could have the children of two lawyers, who are earning half a million [dollars] each, and we’re giving [their children] a free year of tertiary education.”

[…] “The situation is getting worse,” Sir Roger said. “We’ve got an absolute obsession with redistribution which is negative and pulls people down rather than getting rid of rent-seeking and introducing more competition.”

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