Posts by DexterX
Last ←Newer Page 1 2 3 4 5 Older→ First
-
OnPoint: Easy as 1, 2, 22.8 billion, in reply to Tim Hannah,
the top 10% of income earners pay nothing, nothing, towards benefits or WFF
How do you figure that out?
Are you sayng the top 10% of income earners pay no tax?
-
OnPoint: Easy as 1, 2, 22.8 billion, in reply to Kumara Republic,
That links not relevant to much.
-
OnPoint: Easy as 1, 2, 22.8 billion, in reply to Sacha,
the ascendancy of selfish neolibs rendered useless much of our longstanding business and political frameworks built on that basic assumption of humanity.
Um - you're talking about the 84 & 87 Labour Govts.
A month back, as I was going about my day, I saw one of these geezers, a former cabinet minister no less, coming out of the dentist at St Lukes. It was obvious the price of gold had made it worthwhile for him to finally get his stash of tax payer funded fillings taken out and cashed in - he no doubt wanted a latest model BMW.
I did think about running him over - however - I instead raised the middle finger and continued on my way - thinking how like him that behaviour was.
-
A wee refresher - NZ Superannuation - what is know as National Super - has always been paid out of the current tax take.
In late 2001, Labour created the Cullen Fund - which is actually the NZ superannuation Fund - which is NZ's sovereign wealth fund - it was created for the purpose of investing current surplus to provide for future cost of NZ Superannuation.
In 2009 the Nats suspended payments to the fund on the basis of not wanting to borrow to invest in the Cullen Fund - it should be noted that they did not mind borrowing to provide for tax cuts.
If the economy is managed to provide for growth the surpluses that result can provide for further contribution to the Cullen fund and meet the cost of Nat Super.
I’m saying this again as is my custom:
Presently 10% of the top income earners pay 70% of personal taxes. and if Labour get in this will go up,
We have 90% of all families in NZ paying no income tax when you take into account WFF.If you had the fabulous middle class less addicted to welfare (WFF) things would be a bit better in the long run – so addressing the over reach of WFF needs to be addressed.
The stupid thing about the CGT debate is that it is the wrong question and the wrong answer.
The financial services industry in NZ has been “gunning” for the opportunity to get the “funds’ that it sees are in residential ppty into invested products – so a lot of the cheer leaders on the sideline have a vested interest in CGT as they see themselves doing a lot better.
Seeing how the glut of savings from baby boomers drove the GFC and that is largely lost – I not so inclined to think letting “the financial services industry” get these “funds” under control is a good idea.
The best answer to the raft of problems is to concentrate on economic growth (export lead). When Fonterra’s biggest export is still Milk Powder – you realise that there is a lot of room for improvement.
The CGT and all the arguments in support are rearranging the deck chairs while the ship sinks.
I see a bright star on the Horizon – Oops sorry that was Labour burning up on re entry.
-
OnPoint: Easy as 1, 2, 22.8 billion, in reply to Sacha,
Yes - the best answer to the raft of problems is to concentrate on economic growth (export lead).
As an example - Fonterra, their biggest export is still "Milk Powder". In our "traditional industries" there is a massive room (further potential) for growth through innovation and added value - finding out what other "stuff" the markets would likely want from us and bringing it to them is the thing.
-
It would be good to see the pleadings in all of this and the judgment that remanded Arnie into custody.
Was one of the reasons for denying bail so as "to keep old light bulbs safe and free from harm or threat likely to be visited upon them by Arie."
-
OnPoint: It's real, in reply to Kumara Republic,
I don't think that Robert Reich actually agrees or disagrees with Ben's view - though what he says is relevant generally to the fallacious "management of the economy".
A lift in wages and better equality in employment relations are some of the things that really need to happen in NZ – back pay being a legal right under collective bargaining just one place to start.
It makes me sick when I see people like Infratil getting their hands on the NZ Super Fund to help them buy the NZ Shell network - Yet one of their subsidiaries has stuffed around a group of workers who have been trying to get a collective agreement signed off since 2007 and these workers remain at that same 2007 wage rate.
We are all striding off to a better future “Z”. ..................................for Infratil.
-
OnPoint: It's real, in reply to Sacha,
All this talk of a bubble or contribution to 50% of a bubble, is basically nonsense??
I wouldn’t put much reliance on any analysis or regurgitated press release placed in print and penned by Tapu Misa.
The Saving Working Group - which a treasury based think-tank thang released a report thang titled "Saving New Zealand: Reducing Vulnerabilities & Barriers to Growth & Prosperity".
In it they had a bullet point as follows:
Steps must be taken to prevent a repeat of the unsustainable and damaging boom of the last decade, which resulted in a large increase in New Zealand’s debt, much of which went into housing and a “bubble” in house prices. The SWG estimates that the tax system bias in favour of housing caused about half of the increase in house prices, with serious implications for affordability. Moreover, the boom boosted investment in housing rather than investment in more productive assets that would have lifted productivity and potentially lifted exports.
This assumption was not supported by anything much - and I ask if it was an unstainable boom - which it wasn't - then why hasn't the bubble burst, especially following the GFC and the wage recession of the last three years?
The bubble hasn't burst largely because it wasn't a bubble - the available residential housing does not meet the demand and with the “recession” the gap has only increased.
Of course non of the members of the Savings Working Group or anyone working for Treasury is going to be overly concerned with this – they are likely well insulated enough not to suffer the slings and arrows.
I would say the serious implication for affordability in housing is that the supply of housing hasn’t kept pace with demand - the nation needs to seriously make a larger investment in residential housing.
Looking at pithy little phrase, “Reducing Vulnerabilities & Barriers to Growth & Prosperity" - I feel not being able to afford a home is a barrier to growth in the economy and barrier to ones future prosperity.
IMHO - Much of the basis for the support for a CGT is what I would call stuck-up, comfortable half-witted middle class twaddle that makes me ill. I have found anecdotally a lot of the supporters are comfortably well off- having in essence not fully contributed to tax in over a decade as a result of WFF – and that would also extend the opponents.
A CGT won’t revive the economy, won’t shift investment into productive assets that would have lifted productivity and potentially lifted exports.
I note they say:
would have potentially lifted
A CGT won’t translate to growth and isn’t a substitute for supporting the people or types of concerns that are vital to growth in the economy – which is where I see the leadership and emphasis needs to be concentrated.
There is nothing like a potential that would have been achieved expect for the excuses placed in the way. It is a nothing.
-
Someone said that 50% of our most recent NZ residential bubble would have been removed by a CGT. Can't remember where, but recent.
Can you point to me where you get this from.
Having regard to REINZ figures from 2008 through to early 2011 - the movement has been "mostly" up with the biggest increases taking place when comparing the later parts of the years 2008 and 2009.
-
OnPoint: It's real, in reply to BenWilson,
That is in part my point faced with a choice "you" prefer the house over creating the brave new frontier.