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wizard of Tauranga said:
A political animal like you would know Labour has left the economy in recession and the govt books in deficit every time they have been kicked out this century…

Says it all really!
Click to expand...
The RBNZ put NZ into recession.
They kept the interest rates too low for too long. They also allowed banks to draw down cheap money for about a year longer than they should have. They have stated it as a goal.

Deficits are fine, so long as govt is using the borrowing to grow/expand economic capacity (inflation prevention) or a crisis (COVID). Like funding critical infrastructure, public transport, electric capacity, social housing, R&D funding etc. All this will help shrink costs for everyday people and potentially help with productivity. Funny enough, this is stuff the current govt are targeting for cuts.
Borrowing/deficits are even more critical in a recession, because we need the govt spending to help get out of the dip. What you don't do is cut funding to social services (unemployment growing) to fund tax cuts to a sector that doesn't need it. Or borrow to fund tax cuts. Tax deduction will not lower rents, because landlord costs are not what dictates rent pricing.

We still have extremely low debt. S&P have said so, and why we maintained a high AA+ credit rating post election. If we were in the shit they would have lowered the score and bond markets wouldn't want to borrow from us. But the opposite happened. Nats will change that though, by removing a chunk of money from the tax take and borrow to fund removing that money. And we'll be worse off because we have cut funding for various projects (PT, R&D, social services, social housing etc).
 
Rizzah said:
The RBNZ put NZ into recession.
They kept the interest rates too low for too long. They also allowed banks to draw down cheap money for about a year longer than they should have. They have stated it as a goal.

Deficits are fine, so long as govt is using the borrowing to grow/expand economic capacity (inflation prevention) or a crisis (COVID). Like funding critical infrastructure, public transport, electric capacity, social housing, R&D funding etc. All this will help shrink costs for everyday people and potentially help with productivity. Funny enough, this is stuff the current govt are targeting for cuts.
Borrowing/deficits are even more critical in a recession, because we need the govt spending to help get out of the dip. What you don't do is cut funding to social services (unemployment growing) to fund tax cuts to a sector that doesn't need it. Or borrow to fund tax cuts. Tax deduction will not lower rents, because landlord costs are not what dictates rent pricing.

We still have extremely low debt. S&P have said so, and why we maintained a high AA+ credit rating post election. If we were in the shit they would have lowered the score and bond markets wouldn't want to borrow from us. But the opposite happened. Nats will change that though, by removing a chunk of money from the tax take and borrow to fund removing that money. And we'll be worse off because we have cut funding for various projects (PT, R&D, social services, social housing etc).
Click to expand...
Or… we’re in a cost of living crisis and tax cuts will assist this (similar to Robertson’s petrol price reductions). Robertson extended the date we will be back in surplus the last 2 years and we look to be continuing this. The spend from the tax cuts will boost the economy into productive areas (more than the govt spending the same money) and longer term we will have a better stronger more sustainable economy because a smaller govt and bigger productive economy is big picture thinking. Which country has taxed themselves rich?

You say deficits are fine as long as the govt is funding economic expansion. I would argue most of the debt hasn’t been spent that way the last few years hence the double dip recession despite being out of covid with more pain to come.

Agree the reserve bank put us in recession but they have been countering the last govts excessive spending and Labour changed the rules mandating the reserve bank protect jobs, dragging out the economic issues rather than recover faster.

We do have a relatively low debt but are exposed now to a sudden economic shock so lowering debt and growing the economy through private business and consumption (tax cuts) should be the priority. Our economy has tanks since the tax rates take skyrocketed and it’s no coincidence.
 
End of the day Labour and National went to the elections with 2 ideological directions.

Higher tax and more govt spending or lower tax and reduced govt size.

The people have spoken because Labours experiment the last 6 years was a failure.
 
Rizzah said:
Tax cuts to the rich don't help cost of living. Or boost productivity.

They aren't lowering debt though, they are borrowing to pay for tax cuts.
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Or… Increased taxes on the rich hasn’t boosted productivity and has driven us into a hole. It is a drain on the investors in the economy. It has resulted in repeated recession. It has increased rent and decreased housing supply.

All the evidence support this actually and is a repeating pattern every time Labour is in government.

The tax cuts are also aimed at indexing middle income taxes to inflation.
 
wizard of Tauranga said:
Or… we’re in a cost of living crisis and tax cuts will assist this (similar to Robertson’s petrol price reductions). Robertson extended the date we will be back in surplus the last 2 years and we look to be continuing this. The spend from the tax cuts will boost the economy into productive areas (more than the govt spending the same money) and longer term we will have a better stronger more sustainable economy because a smaller govt and bigger productive economy is big picture thinking. Which country has taxed themselves rich?

You say deficits are fine as long as the govt is funding economic expansion. I would argue most of the debt hasn’t been spent that way the last few years hence the double dip recession despite being out of covid with more pain to come.

Agree the reserve bank put us in recession but they have been countering the last govts excessive spending and Labour changed the rules mandating the reserve bank protect jobs, dragging out the economic issues rather than recover faster.

We do have a relatively low debt but are exposed now to a sudden economic shock so lowering debt and growing the economy through private business and consumption (tax cuts) should be the priority. Our economy has tanks since the tax rates take skyrocketed and it’s no coincidence.
Click to expand...
Or you'll just ignore the facts anyway and make shit up
 
MaybeTop8 said:
Or you'll just ignore the facts anyway and make shit up
Click to expand...
Facts - under Labours direction we had one of the biggest debt increasing relative to GDP in the world (despite supposedly being least affected by covid); one of the worst economies where our GDP per person is still below pre covid and the country voted for a change of direction.

Facts.

We do still have a modest debt but as a percentage we borrowed a lot (and started increasing our debt pre covid).

1711674739185.png
 
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Looks like our rainbow community is more important than our visually impaired community. Lucky Destiny has their priorities right and is trying to uphold the law:

9251CF2E-A252-4FD9-982B-99B382101D4D.webp
 
wizard of Tauranga said:
Looks like our rainbow community is more important than our visually impaired community. Lucky Destiny has their priorities right and is trying to uphold the law:

View attachment 6429
Click to expand...
whoa! sorry dude, but backing those destiny goons is fucking wild.

i can’t see any reason our rainbow community shouldn’t be able to have big bright crossings. especially in areas like k road, cuba st etc. i lived on k road for years in the early 2000’s the the wildest shit you can imagine at the end of the driveway. the amount of fa’fafine sex workers that would tell us about 90% of their customers being old straight white rich dudes was amazing.

it’d be a pretty fucking boring place if we were all straight laced church types.
cities especially need a bit of flair and flavour.

to be honest, i don’t know why any group should be any less represented or visible than any other.
 
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Bomber is a true leftie, prone to hyperbole and over excited, but he's on point - https://thedailyblog.co.nz/2024/03/...-space-and-pasifika-space-on-auckland-campus/
marv. said:
whoa! sorry dude, but backing those destiny goons is fucking wild.

i can’t see any reason our rainbow community shouldn’t be able to have big bright crossings. especially in areas like k road, cuba st etc. i lived on k road for years in the early 2000’s the the wildest shit you can imagine at the end of the driveway. the amount of fa’fafine sex workers that would tell us about 90% of their customers being old straight white rich dudes was amazing.

it’d be a pretty fucking boring place if we were all straight laced church types.
cities especially need a bit of flair and flavour.

to be honest, i don’t know why any group should be any less represented or visible than any other.
Click to expand...
Well said marv
 
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