Ok rather than raising the white flag with a typical cop out, explain to us how it makes sense that NZ is the 4th wealthiest household per capita in USD?
Politics 🗳️ NZ Politics
- Thread starter wizard of Tauranga
- Start date
NZWarriors.com
The next election will feature tax with the left wanting either a CGT and/or Wealth Tax to close the wealth gap in NZ compared to other OECD countries that have them. The problem is that a number of countries with these forms of tax have a greater wealth gap than NZ. So the question needs to be asked…. Are the proposed taxes to close the gap or taxes of envy when you consider how they don’t seem to be working overseas?
The above chart is from page 18 of the attached OCED report….
NZWarriors.com
Hah, my brain initially registered that as being a mirror (with red shirt being the photographer) which would make David Seymour a vampire
Also very awkward technique with the barbell jammed against the cage with him pressing over his face instead of his chest, and no way to set it back on a rack. Very Final Destination setup hah!
Yeah that was my concern in the post with no spotter and the left arm looking to not be able to take the weightHah, my brain initially registered that as being a mirror (with red shirt being the photographer) which would make David Seymour a vampire
Also very awkward technique with the barbell jammed against the cage with him pressing over his face instead of his chest, and no way to set it back on a rack. Very Final Destination setup hah!
Stuff
www.stuff.co.nz
Looks like we’ve shifted from what we inherited to higher electricity and rates rises as the reason of a 15 month recession. Was interesting watching energy minister Simon Watts on q and a yesterday asked why a majority of the recommendations that a group was commissioned to look into electricity and how we can better the system hasn’t been picked up with electricity obviously playing such a part in our situation. Tame asked what if we have a dry winter to which the response was the trust me approach that’s been the mainstay of this government
NZWarriors.com
The phrase taxes of envy is a tired trope Mike.
Raising the I'm working flag. Sure, I'll respond in a bit.
No, the account and it's owner(s) really aren't.
Starter: The graph and your response:
This axis represents GDP per capita. In this context, New Zealand is similar to the other nations within that grouping
The word economy seems to have been misread to represent other figures by yourself and others. Fair enough, I can see how you might think that. But if you did, that's incorrect.
This story backs the graphs up:
Stuff
www.stuff.co.nz
NZWarriors.com
They're really not.
The account's figures are now seen as being accurate and quoted by a number of economic commentators, and (I will try and track this down) by the government itself I believe.
Rebecca MacFie is a true hero
www.rnz.co.nz
Rebecca Macfie: Unpacking poverty in Aotearoa
It was while researching her two latest projects that Award-winning journalist Rebecca Macfie came to realise the privileges colonisation had bequeathed her own family.
www.rnz.co.nz
What is it then? Because a CPT works so well closing the gap overseas? The OECD graph shows clearly they don’t.
Why? Because tax on wealth or capital gain doesn’t get used to close the gap… it just gets sucked into the consolidated fund.
The māori Party and the Greens would have us believe a wealth tax will close the gap but Spain…. one of the only few countries with a wealth tax, the OECD chart I posted shows their spread of net wealth (
I.e. the amount of wealth of the top 10%) is just as bad as ours. And there’s not a huge difference in the pitiful amount owned by the lowest grouping.
So, if a wealth tax doesn’t close the gap, what else is it….. other than a tax of envy?
NZWarriors.com
For those calling you centrist on here, and I was one a while back, I've certainly changed my mind.
Why is New Zealand the only country in the OECD without a capital gains tax? It's an outlier, a distortion that benefits the wealthy few.
You mention the consolidated fund - who controls that? Governments decide how that gets spent don't they? So if it's not closing the gap then blame.....this corrupt mob in power!
Your other reasoning doesn't lead to any solid conclusion sorry Mike.
The author clearly says the economies in the pink circle are of similar sizes. This is incorrect, misleading and misinformation.No, the account and it's owner(s) really aren't.
Starter: The graph and your response:
View attachment 14770
View attachment 14771
This axis represents GDP per capita. In this context, New Zealand is similar to the other nations within that grouping
The word economy seems to have been misread to represent other figures by yourself and others. Fair enough, I can see how you might think that. But if you did, that's incorrect.
This story backs the graphs up:
Stuff
So let's put the authors inability to clearly articulate what he is presenting to one side. Are you claiming that as a percentage of gdp we should be spending the same amount as the UK on education?
NZWarriors.com
DOH..... and if a government chooses not to use the CGT to close the gap (just as every other country you would blindly have us follow), then the gap won't be closed.
If Labour were so keen to close "the gap", why didn't they use the money they saved by not allowing landlords to claim by increasing benefits by that amount? No, it was just kept in the consolidated fund and paid out as wage subsidies to rich listers who still could have paid their staff anyway. Or do you now going to defend the likes of the Todd family who used the wage subsidy to pay their Todd Property staff while sitting third on the NBR Rich List with a net worth over $3 Billion?
Spending money gained by a CGT on defense, infrastructure, paying ministers overseas trips, etc, etc. isn't going to close the gap..... because that's what happens when money is placed into the consolidated fund. Why? Because all us, including the rich, use roads, flush toilets, use power, benefit from ministers going overseas on trade missions, climate conferences, economics etc. because that's also where the consolidated fund money gets used.
The rich and the poor can use the public health system.... so CGT money going from the consolidated fund into that doesn't close the gap. The rich and poor can use the public education system.... so CGT money going from the consolidated fund into that doesn't close the gap.
All it does, is give the government more money to spend.... it's just a different entity spending it... the rich or the government. It's not to go into programs which only those earning below a certain amount will get.... or tripling benefits.... or providing scholarships.... it's just someone else other than the poor gets the use off it.
And that's the big con about a CGT.... it won't close the gap.... it just moves who has the money around from those with KiwiSaver (taxed at the 33% tax rate on revenue the funds have made) through to farmers whose reinvestment back into their business increased the value of their investment to the Government.
But, hey, let's sacrifice first home buyers who find it's going to take far longer to save for their house or people trying to save for their retirements because people don't like capital not being taxed.
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Who am I having anyone blindly follow?
Certainly not those who blindly attribute sentiment and text to me that's for sure.
And wow Mike, we're going back to Labour are we? And covid subsidies? Well, if those rich listers had a conscience they would never have taken the money in the first place. Or held themselves accountable.
I'm certainly no Labour apologist. Struck a nerve maybe? You're listing things this government has failed to do, great.
How do you actually know how the consolidated fund will be spent? You don't.
And now somehow we're onto first home buyers, of which I was one recently and got screwed by successive governments, mostly on the right, all neoliberal.
The thing is Mike, it's been like this forever and IT'S NOT WORKING. Well it is for the rich but hey.
More like the reader's inability to understand what's being presented.
Have read of the actual post on bsky to get the gist.
