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Speaker 1: So Luxeon's back in the news. So's Jacinda. Actually this

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Speaker 1: is a Bryce Edwoods piece written about our MP. So

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Speaker 1: apparently own two point two homes per MP, more than

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Speaker 1: most of us. Jasindra Adern made more than three hundred

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Speaker 1: k while she was in office selling a property our

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Speaker 1: prime minister Luxeon has made close to half a million

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Speaker 1: dollars in capital gain. I should say we don't know

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Speaker 1: what he's spent on them. Now, let's really talk about

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Speaker 1: a capital gains tax, because we essentially have one on

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Speaker 1: investment property. It's the bright line test. You can argue

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Speaker 1: over how long that should be, and governments have changed

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Speaker 1: this from red to blue, you know, ten to two years.

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Speaker 1: So let's sideline property for just a second and talk

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Speaker 1: about businesses. Do you really think it's fair to tax

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Speaker 1: the gain on sale of a business? Business owners take

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Speaker 1: huge risk. They work incredibly hard. And I'm not saying

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Speaker 1: we don't, but they do work incredibly hard. There's the stress,

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Speaker 1: the late nights, the untold hours, have lost sleep. They

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Speaker 1: employ people, they pay them, they pay tax on their

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Speaker 1: earnings as they go. They help support jobs, they grow

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Speaker 1: the economy. They provide that tax base that we so

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Speaker 1: desperately need for hospitals and education, etc. And then when

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Speaker 1: they finally are either burnt out or wanting to move

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Speaker 1: on and grow something else, Bang, we hit them with

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Speaker 1: a tax on the sale of their business. That doesn't

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Speaker 1: seem fair to me. We need people to invest confidently

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Speaker 1: into their businesses and grow them for the benefit of

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Speaker 1: all of us. I don't think a capital gains tax

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Speaker 1: on businesses will achieve that. For more from News Talks

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Speaker 1: B listen live on air or online, and keep our

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Speaker 1: Irradio