Of the rich, by the rich, for the rich
- by that I mean the privileged get name suppression a lot easier
Politics 🗳️ NZ Politics
- Thread starter wizard of Tauranga
- Start date
- by that I mean the privileged get name suppression a lot easier
NZWarriors.com
Truth
But you aren't for them either when you think of the things you're against with certain policies and the unintended consequences they bring on those who can't afford a house.
Not letting landlords claim interest on their mortgages is an expense that landlords then pass on their tenants... added rent equals less deposit for a house. And landlords without mortgages see that those with them have increased their rent so they take the opportunity to raise theirs also.
A CGT will reduce KiwiSaver accounts by 20-40% if in a growth fund because, at the moment, the capital gains on shares aren't taxed.... less money in KiwiSaver means a longer time saving the deposit for a house.
And heaven forbid, they're a nurse on $85,000 and you want to take away their small tax cut because a billionaire received the same $20 PW tax cut too.... the left commentators always ignore that!!!
See, that's the problem when ideology against certain members in society because they have more than someone else starts to get in the way of reality.... you may think that it's by the rich for the rich.... but it still has downstream consequences on those who "aren't the rich".... like those ideas you like/don't like mean people are even less likely to be able to afford a home.
And the right aren't any better.... they look the small number ripping off the welfare system and think all beneficiaries are..... just in the same way the left ignore the impact on the middle classes not having a tax cut would have because they don't think the ultra rich deserve it.
NZWarriors.com
Some on the left simply have no idea that you can't use the same tax cut money, if the government didn't give it, more than once. Actually, at just under $3 billion cost of tax cuts this year, it won't go very far through that list.
Think of just wanting a completly free public health system. Norway does that.... at the cost of $8,693 USD per person each year to have a completely free public healthcare system. By comparison, we spend $6,061 USD per person each year for our health system. That's a difference per person of $2,632 USD or $4,515 NZD each year. That works out at a cost of $24.1 billion each year based on a population of 5,340,000 NZer's. Or eight times the amount of the tax cuts.
Nor does the government (left or right) set power prices.... or dictate to overseas buyers of our food what prices they should pay. Oh, and the housing affordability index is apparently the lowest it's been since Helen Clark was in power.
But, misinformation like what you posted leads to a lot of likes I'm guessing.
The big surprise was the dovish outlook, more cuts to come & to a level that economists weren’t expecting.
Quite surprised when I read that.... we were considering extending the term on the mortgage out to 12 months but still might stick to 6 months when it's due for renewal in October if they're looking at more than one more interest drop.
I was expecting the RB would have been too spooked with Trump's tariffs, domestic inflation and the job numbers to do more than one drop.
NZWarriors.com
- Thread starter
- #19,047
I work 7 days, 80 hours per week. The hard working, this is who we are.
Anyone that works like I do can have and deserved the good times
Hey so where you thinking for a holiday Wiz? Also which do you value more - the lower cost of debt to buy more investment properties or the higher capital gain (tax free no less) on your ever increasing property portfolio? Good times for those that own houses aye!!
- Thread starter
- #19,049
Thinking Thailand in November, but nothing confirmed!
I’m thankful for everything the hard working gets. My next project is doubling the size of my tourist business again next year with a new cafe and 800m indoor attraction. Lower interest helps make it all viable and I have been waiting 3 years for the right economic environment.
Capital gains are welcome but irrelevant. I dont sell so never have to pay it anyway.
The last 5 years have been terrible for house owners so about time things got better.
NZWarriors.com
To be honest I still think housing only has a moderate inflation outlook from here. OCR at around a 2.5% level (if it gets there) won’t stay for long.
Haven’t been to Thailand in years, last visit was Railay Beach which was pretty stunning but not a lot to do there other than drink.
Where's that again ??.
- Thread starter
- #19,052
I’ve only been to Bangkok years ago but keen to explore down Phuket area.
I really want to travel further afield but need to squeeze it in with minimal time away from work. Much further away and the travel hammers you for an extra day each side.
Just got back from a cruise with unlimited drinks package so have decided to stop drinking for a month
