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Taxing the Kiwi Dream
15 July 2011 Media
Statement
Taxing the Kiwi Dream
Labour's Capital Gains Tax is taxing the dreams of young Kiwis and will hit us the hardest, says Young Nats President, Daniel Fielding.
Labour's Tax announcement means a 15% tax on any intellectual property, business, farm or share owned by young Kiwis.
"While young people don't typically earn high incomes, own a bach or trade in shares, we do have aspirations. We work hard and want to get ahead. What Labour's saying is 'don't even bother',” said Daniel Fielding.
“Any young Kiwi with a bright idea will have it taxed by a Labour Government. It will stifle creativity and help export futures offshore.
“Young kiwis trying to save for a house deposit will face higher rents. The Kiwi dream of owning a home just got harder.
“We don't want more debt or higher taxes. We just want the chance to get ahead.”
Instead of more taxes, New Zealand needs more taxpayers. Instead of growing the Government, we need to grow the economy.
"Phil's tax hike is not bold; it's bonkers, and is nothing more than a tax on the Kiwi dream,” says Daniel Fielding.
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