StrypeyOct 28

As usual, Labour are offering crumbs;

https://www.rnz.co.nz/news/political/577129/what-doctors-landlords-and-economists-make-of-labour-s-tax-plan

The absolute minimum they could possibly do without repeating 2023's failures, of principle *and* strategy, and promising nothing. Like their GST-off-this-and-that plan this is a patch on a hemorrhage, dressed up as ambitious policy.

If this is typical of what Labour plan to offer for 2026, they deserve to lose. Even if the rest of us don't deserve 3 more years of CLuxon's clowns.

#NZPolitics

What doctors, landlords and economists make of Labour's tax plan

The policy won't work if house prices don't go up, an expert says.

RNZ
Show threadJonathan HarkerOct 28
@strypey [if you have both CGT and no deductability then] "the loss of interest deductibility makes investing in residential property unprofitable. So people will exit the industry, there's no doubt about it."
Correct! That's the general idea, shake out all the shit landlords who think they're entitled to passive income in return for doing no work upkeep or maintenance, and make them invest in businesses instead.
Show threadStrypey

@jonathanharker
> shake out all the shit landlords who think they're entitled to passive income in return for doing no work

Exactly what I was thinking.

Oct 28 at 11:26pmWeb