I am surprised by the general acceptance of Capital Gains Tax which I regard as being little better than common thievery, particularly as it pertains to property. Property prices do not rise naturally, they rise chiefly because of government policies the most significant of which is borrowing (debt) and printing money (currency devaluati…
I am surprised by the general acceptance of Capital Gains Tax which I regard as being little better than common thievery, particularly as it pertains to property. Property prices do not rise naturally, they rise chiefly because of government policies the most significant of which is borrowing (debt) and printing money (currency devaluation). The combined effect is to reduce the value of paper money, which in turn causes the value of any asset to increase.
I buy land, hold it for 20 years and then sell it - I am no richer or poorer than when I started (other than holding costs and income). The application of a capital gains tax to the change in price caused by loss of purchasing power is theft, after the sale I no longer have enough money to repurchase the same property or another one like it.
I agree, Andrew. It is plain mafioso extortion. They taxed whatever money (currency) you use to purchase an asset with. They then tax you to buy it, tax you to own it, tax any income it generates, tax everything you buy with the income, tax you to sell it, and then tax you again when you sell. And most of these taxes are purely punitive because the government is so inefficient and incompetent that it spends more money administering most taxes than it collects from those taxes. What do we call that? A liberal democracy? Who agreed to it? Who voted for it? More to the point, given that the majority of Australians aggressively defend the system as being free, fair, effective and uncorrupt, why would anything change?
I am surprised by the general acceptance of Capital Gains Tax which I regard as being little better than common thievery, particularly as it pertains to property. Property prices do not rise naturally, they rise chiefly because of government policies the most significant of which is borrowing (debt) and printing money (currency devaluation). The combined effect is to reduce the value of paper money, which in turn causes the value of any asset to increase.
I buy land, hold it for 20 years and then sell it - I am no richer or poorer than when I started (other than holding costs and income). The application of a capital gains tax to the change in price caused by loss of purchasing power is theft, after the sale I no longer have enough money to repurchase the same property or another one like it.
I agree, Andrew. It is plain mafioso extortion. They taxed whatever money (currency) you use to purchase an asset with. They then tax you to buy it, tax you to own it, tax any income it generates, tax everything you buy with the income, tax you to sell it, and then tax you again when you sell. And most of these taxes are purely punitive because the government is so inefficient and incompetent that it spends more money administering most taxes than it collects from those taxes. What do we call that? A liberal democracy? Who agreed to it? Who voted for it? More to the point, given that the majority of Australians aggressively defend the system as being free, fair, effective and uncorrupt, why would anything change?