Ryan Bridge: A warning for Chris Hipkins

There’s a warning for Hipkins as he plots higher taxes for Kiwi businesses, investors, and savers - it comes from across the ditch.

Albanese’s been having problems getting his super tax plan across the line, despite having a majority in Parliament.

The Opposition to it has come not just from the usual suspects, but also former PM and Labor stalwart Paul Keating - even the Unions cried boohoo.

So he’s had to U-turn on unrealised gains, which have always been a stupid thing to try and tax.

How can you pay tax on money you haven’t earned? 

The Greens want to do this. David Parker wanted to it. Te Pati Māori wants it.

And Debbie said at the weekend that she and Chippy are on the same page when it comes to a wealth tax. 

He denies this, but does anyone believe a guy who won’t tell you what he’s really thinking or what he really stands for? 

Until he rules something in or out, he looks like a guy plotting in secret. He and Barbara are squirrelled away with an abacus and a calculator quietly conjuring up a new and inventive revenue streams.

We’re left wondering whose business, whose property is ripe for the picking.

The warning from Australia is pretty night and day, if you’re going to tax something, and that’s a big "if" here at home, but if you’re going to do it, you’d better make sure it’s a realised gain and not a tax on imaginary, on-paper earnings.

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Episode Transcript

Speaker 1 (00:00):
A warning for Hipkins as he plots higher taxes for
Kiwi businesses, for investors, for savers. Who really knows it
comes from across the ditch Albinezi, if you've been following,
having problems getting his super tax plan across the line
despite having a majority in Parliament. The opposition to it
comes not just from the usual suspects, but also former
Prime Minister labour store legend Paul Keating. Even the Unions

(00:22):
were crying boohoo about it, So he's had to u
turn and he's u turned on unrealized gains which have
always been a stupid thing to try and tax. How
can you pay tax on money you haven't earned? The
Greens want to do this, David Parker wanted to do
it to party, Mardy wants it, and Debbie said at
the weekend that she and Chippy are on the same
page when it comes to a wealth tax. Interesting, isn't it.

(00:43):
He denies this, but does anyone believe a guy who
won't tell you what he's really thinking or what he
really stands for until he rules something in or out.
He looks like a guy plotting in secret. He and
Barbara squirreled away with an abacus in some office, quietly
conjuring up and inventive revenue streams, and we're left wondering
whose business, whose property, whose wealth is ripe for the picking.

(01:08):
The warning from Australia is pretty night and day if
you're going to tax something, and that's a big if
here at home. But if you're going to do it,
you'd better make sure it's a realized gain and not
a tax on imagenatory on paper earnings. For more from
Early Edition with Ryan Bridge, listen live to News Talks
at B from five am weekdays, or follow the podcast

(01:28):
on iHeartRadio