Care to guess what the capital gains tax is in New Zealand? ;-)

New ZealandNew Zealand has a capital gains tax on property that is easily avoided and in most cases not policed. However, there have been a few cases of the IRD enforcing the law; in 2004 the government gathered $106.6M checking on property sales from Queenstown, Wanaka and some areas of Auckland. [11]

In a speech delivered on 3 June 2009, New Zealand Treasury Secretary John Whitehead called for a capital gains tax to be included in reforms to New Zealand's taxation system,.[12] The introduction of a capital gains tax has been proposed by the New Zealand Labour Party as an election campaign strategy for the 2011 general election.[13] [14]

Labour has confirmed it will introduce a capital gains tax at 15 per cent and a new top tax rate of 39 per cent on income above $150,000.

Labour leader Phil Goff said the package was about rebalancing the economy and about fairness.

Personally, I do not understand what is so fair about taking 39% of what one person has earned so that the government can redistribute it to some deadbeat who feels that he is entitled to the fruits of someone else's labor. This sounds exactly like the plot of Atlas Shrugged and it is pretty freaking scary.