Can we start the revolution yet please?

Mark Hubbard's picture
Submitted by Mark Hubbard on Mon, 2010-06-14 05:18

That Tribeless bloke has been posting again on the NBR:

" ... Dr Bollard said New Zealand has relatively high foreign investment in New Zealand but not much investment overseas ..."

I wonder why that is?

Oh hang on, could it be the complex international portfolio rules foisted on us by Papa Michael that tax capital gains on overseas share investments and makes the compliance issues around calculating the tax liability on overseas shareholdings, frankly, a pain in the a-rse to such an extent that I for one can't be bothered holding such shares.

And given the sorry state of the NZX - under an idiot who over Xmas attacked the LAQC structure thinking he was advocating an attack on property investment, an incorrect line an even bigger idiot in Parliament has now decided to run with in his budget - I'm better off over the very long term just owning property.

There you go, the design of my investments has been governed by this country's mess of tax laws, and that design is the absolute opposite of what is good for the economy, according to every mainstream economist, and the politicians themselves.

We are ruled by incompetents making rules so complicated and contradictory that there needs to be a general revolt against the status quo (and most notably the huge size of the State all these idiot rules are trying to fund at the expense of private wealth creation and of individual freedom).

... And don't even start me on the CFC rules.

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