Politics 🗳️ NZ Politics

[miket12]

Always makes me laugh when the Sallies come out saying that landlords should follow their "example" and lower rents by 25-30% to match the Sallies.

Firstly, private landlords don't receive millions of dollars each year in untaxed donations. And secondly, we pay 33% on our net rental income... they don't!!!

 

[Noitall]

I think Best Start, the childcare provider forced this review.

They are a money making entity designed to build a property empire for the owners with the non profit business fitting out and setting up the building… big tax dodge where they bent the rules to get into charity status.

Every business should pay the same tax.

Wealthiest paying tax at much lower rate than most other New Zealanders - IRD report

Revenue Minister David Parker says the report shows a "large differential between the tax rates ordinary New Zealanders pay on their full income compared with the super-wealthy".

www.rnz.co.nz

So you’d agree that these should pay more tax too?

 

[wizard of Tauranga]

Best Start... the Wright Foundation?

The 2024 accounts record the foundation made $4.7m in donations… and paid their founders $37m!

Childcare charity Best Start payments to rich-list founders rocket to $37m

Rich-lister family says doubled repayment levels "unlikely to be repeated".

www.nzherald.co.nz

 

[miket12]

Wealthiest paying tax at much lower rate than most other New Zealanders - IRD report

Revenue Minister David Parker says the report shows a "large differential between the tax rates ordinary New Zealanders pay on their full income compared with the super-wealthy".

www.rnz.co.nz

So you’d agree that these should pay more tax too?

They should.... by increasing the top tax bracket and introducing an estate duty along side a gifting duty and properly taxing trusts.

What is interesting is how people are more inclined to pay taxes what they "consider fair". At the end of the Muldoon era, the highest tax bracket was 66%. The rich poured their money into things like Kiwifruit orchards (and other tax-exempt enterprises) to reduce their taxable income.

The new Labour government then reduced the top tax rate to 48% but the amount of tax collected from the top tax bracket taxpayers increased. Why? Because they didn't use the tax exemptions and so paid more tax on their actual income and not on the artificially reduced income.

Moral of the story.... don't make tax to "punitive" and the government actually receives more money.

 

[wizard of Tauranga]

Wealthiest paying tax at much lower rate than most other New Zealanders - IRD report

Revenue Minister David Parker says the report shows a "large differential between the tax rates ordinary New Zealanders pay on their full income compared with the super-wealthy".

www.rnz.co.nz

So you’d agree that these should pay more tax too?

We should all pay the same tax rate under the law.

That was a blatant political review. The definition of income was incorrect. Capital gains are not income (find a definition from a dictionary that say it is).

The rich pay the same tax rate as you and me on income. Just a lot of manipulation using the greedy rich narrative the left pushed to justify a CGT.

I think you will find under the same assessment criteria over the past year with huge capital losses as house prices and business values dropped, that the rich paid a significantly higher tax rate than everyone else (huge tax paid on paper losses) when including capital losses. But you won’t see the left updating to reflect that

 

[Noitall]

We should all pay the same tax rate under the law.

That was a blatant political review. The definition of income was incorrect. Capital gains are not income (find a definition from a dictionary that say it is).

The rich pay the same tax rate as you and me on income. Just a lot of manipulation using the greedy rich narrative the left pushed to justify a CGT.

I think you will find under the same assessment criteria over the past year with huge capital losses as house prices and business values dropped, that the rich paid a significantly higher tax rate than everyone else (huge tax paid on paper losses) when including capital losses. But you won’t see the left updating to reflect that

IRD report shows wealthy NZers pay much lower tax rates than other earners

Inland Revenue research released today reveals a large differential between the tax rates ordinary New Zealanders pay on their full income compared with the super-wealthy.

www.beehive.govt.nz

IRD report seems to differ from your narrative of we all pay the same from just last year

 

[wizard of Tauranga]

IRD report shows wealthy NZers pay much lower tax rates than other earners

Inland Revenue research released today reveals a large differential between the tax rates ordinary New Zealanders pay on their full income compared with the super-wealthy.

www.beehive.govt.nz

IRD report seems to differ from your narrative of we all pay the same from just last year

The tax report is flawed because it uses a made up ‘economic income’ as its basis. A report written in a way to give the desired outcome.

Simple maths: income plus untaxed capital gains in 2022 = rich pay less.

Income plus untaxed capital losses in 2024 = rich pay more.

Prove my maths wrong if you don’t believe it

Lots of propaganda and making facts fit what Labour wanted - CGT/ wealth tax! Look at all the greedy rich paying less than us hard working poor people

 

[Noitall]

The tax report is flawed because it uses a made up ‘economic income’ as its basis. A report written in a way to give the desired outcome.
Simple maths: income plus untaxed capital gains in 2022 = rich pay less.

Income plus untaxed capital losses in 2024 = rich pay more.

Lots of propaganda and making facts fit what Labour wanted - CGT/ wealth tax! Look at all the greedy rich paying less than us hard working poor people

A report made up by ird to support labour’s pursuit of a cgt?

 

[MaybeTop8]

You remind me of that great Alvin Lee song, ' I'd love to change the world but I just don't know what to do'. Sorry, I can't upload it for you, great socialist number though.

But which part is wrong though Dean?

 

[MaybeTop8]

Wait, so people keeping the money they own, is costing the govt billions? Got that communist accounting degree i see.

Ever heard of a social contract called Tax Frank? The things that are social need come from it. Important things, like infrastructure, health care etc.

Ideally those we vote for as guardians of this pool of money should distribute for the greater good of all New Zealanders.

So yes, when is a government of the rich, by the rich, for the rich, who allow the wealthy to keep more through tax breaks for the wealthy, at the expense of the the majority, the tax take goes down and all but the wealthy lose out.

You free thinking libertarians on the right must think all this through though.

 

[MrFrankWhite]

Ever heard of a social contract called Tax Frank? The things that are social need come from it. Important things, like infrastructure, health care etc.

Ideally those we vote for as guardians of this pool of money should distribute for the greater good of all New Zealanders.

So yes, when is a government of the rich, by the rich, for the rich, who allow the wealthy to keep more through tax breaks for the wealthy, at the expense of the the majority, the tax take goes down and all but the wealthy lose out.

You free thinking libertarians on the right must think all this through though.

The govt is spending billions by not having the tax rate at 100%. Thats how ridiculous your entire line of logic is.

 

[Noitall]

But which part is wrong though Dean?

View: https://www.youtube.com/watch?v=zEQNb17BSd0

Everywhere is freaks and hairies, dykes and fairies. Not a true socialist number, more about keeping a tidy pubic area

 

[Inruin]

A report made up by ird to support labour’s pursuit of a cgt?

Essentially, yes.

 

[defensivebomb]

The tax report is flawed because it uses a made up ‘economic income’ as its basis. A report written in a way to give the desired outcome.

It wasn’t just the “super rich” that were paying a lower tax on their “economic income” than a PAYE-only worker. It was anyone that owns assets that go up in value. I.e. homeowners, business owners, farm owners, family bach owners, māori landowners etc.

David Parker tried to get his capital gains tax over the line by using the super rich as a ghastly example, but anyone with appreciating assets logically are taxed less on “economic income” (a made-up term for the IRD report) than PAYE-only taxpayers

 

[dean]

But which part is wrong though Dean?

Well the bit that says
' tax the rich feed the poor till there are no rich no more'
The question is. Who feeds them then?

 

[MaybeTop8]

The govt is spending billions by not having the tax rate at 100%. Thats how ridiculous your entire line of logic is.

Great ignorance Frank.

Here's a bit of education for those struggling with the idea of neoliberalism, which seems to be a fair few right leaning in this forum - https://archive.ph/KhFlT - alan gibbs, act, atlas.

All aspects of the government today.

This government. Of the rich, by the rich, for the rich.

The rest of us get fucked over, and are getting fucked over right now.

 

[dean]

Great ignorance Frank.

Here's a bit of education for those struggling with the idea of neoliberalism, which seems to be a fair few right leaning in this forum - https://archive.ph/KhFlT - alan gibbs, act, atlas.

All aspects of the government today.

This government. Of the rich, by the rich, for the rich.

The rest of us get fucked over, and are getting fucked over right now.

So where have Alan Gibbs visions been implemented during the last 10 years? I'll save you looking, they haven't.
Jamie Whyte didn't last long either.

 

[wizard of Tauranga]

keeping a tidy pubic area

 

[Noitall]

What are you inferring with your magnifying glass? Don’t like the look of the furrowed brow either

 

[wizard of Tauranga]

What are you inferring with your magnifying glass? Don’t like the look of the furrowed brow either

Just trying to get my head around it…