Written By: - Date published: 11:26 am, January 2nd, 2012 - 104 comments
An earlier post by Mike Smith on inequality referred to a claim by Geoff Vincent that 12% of the taxpayers were paying 49% of the the taxes. Now this was patently a spinners interpolation on the tax data and shouldn’t be part of the debate.. A comment by DH has a look at that bullshit. …
Written By: - Date published: 8:19 am, December 19th, 2011 - 44 comments
Key: “Of course, if we could have lower personal taxes, we think that would stimulate the economy – but we just can’t afford it”. But, if tax cuts stimulate the economy, you could make them self-funding. The 2010 tax changes were meant to pay for their net cost with extra growth. Didn’t happen. They’ve cost $1.1b so far. Does Key still buy this trickle down garbage or not?
Written By: - Date published: 9:33 pm, December 13th, 2011 - 81 comments
Phil O’Reilly’s article in today’s DomPost headed “The rich get richer but so do the poor ” is appalling. Responding to the OECD report on inequality, he is following in the footsteps of Alasdair Thompson. BusinessNZ are still dinosaur employers from the Victorian age.
Written By: - Date published: 9:02 am, December 6th, 2011 - 33 comments
Tax take is down, deficit is up, growth forecasts for next year are down. Nice to be told all this one week after the election, eh? Still John and Bill are relaxed and optimistic that the future will still be bright.
Written By: - Date published: 7:31 am, November 10th, 2011 - 52 comments
How many children is 200,000 in the context of New Zealand’s population? Statistics New Zealand says between June 2008-2011 around 62-64,000 children were born each year. So 200,000 amounts to every single child born in this country since National came to power three years ago, plus another 10,000 or so.
Written By: - Date published: 8:40 am, November 8th, 2011 - 30 comments
Yes, that’s an actual quote [sans 'serfs'] from David Farrar lying about his master John Key’s lies about not raising GST.
hattip: frank macskasy
Written By: - Date published: 11:15 am, October 14th, 2011 - 7 comments
This press release from the CTU deserves wide discussion.
Written By: - Date published: 9:01 am, October 8th, 2011 - 90 comments
When John Key was elected to power in 2008, he was estimated to have a personal wealth of about 40-50 million dollars.
So how much is John Key worth now?
Written By: - Date published: 9:20 am, September 23rd, 2011 - 53 comments
As most of the headlines this morning focus on the crumbling world economy, it was interesting to hear Bill English on RNZ. Among various inane comments there was one interesting gem, when English called for higher taxes…
Written By: - Date published: 11:29 am, September 14th, 2011 - 64 comments
The other day, Irish covered the odious comments from liquidator/columnist Damien Grant calling unskilled people ‘commodities’. That was in the context of a pretty flimsy attack on Gareth Morgan and Susan Guthrie’s ‘Big Kahuna’ tax plan. Yesterday, Morgan and Guthrie responded to Grant’s attacks. The Jackal says Morgan and Guthrie have it right.
Written By: - Date published: 5:38 pm, September 10th, 2011 - 67 comments
John Armstrong wants Labour to come out radically different after the Cup. Having refused to cover Labour’s skills package or its mining policy, he’s suddenly interested in policy. He wants Labour to suddenly adopt league tables and forget the 39% tax rate. Armstrong genuinely doesn’t seem to get it. Parties of the Left don’t pick and swap policies on a whim.
Written By: - Date published: 5:28 pm, September 6th, 2011 - 19 comments
Treasury has now adopted their masters’ political line on income statistics. The latest Treasury MEI uses average after-tax wages to argue that an average worker is better off by 2% since October 2010. In real terms the average worker’s gross wage less inflation means they are 1% worse off. The average of $50,000 a year is a long way above the median wage as indicated by the 2009 IRD distribution figures. In reality a few are hugely better off, some are ok, and most are still worse off.
Written By: - Date published: 11:51 am, September 3rd, 2011 - 14 comments
Guns don’t kill people, the old saw goes. People do. By the same token, corporations don’t dodge taxes. People do. The people who run corporations are reaping awesomely lavish rewards for the tax dodging they have their corporations do. A report from the Institute of Policy Studies shows that 25 major U.S. corporations last year paid their chief executives more than they paid Uncle Sam in federal income taxes. Creative accounting is also a problem here.
Written By: - Date published: 12:41 pm, September 2nd, 2011 - 29 comments
The wealthy elite in Europe are now joining Warren Buffett in these calls for higher taxes for the rich (including CGT), why? Maybe it’s because they know the truth, they know that the world is likely to enter another global recession, and they know the risk this will bring to social cohesion, which they rely on for maintaining the lifestyle they enjoy.
Written By: - Date published: 12:17 pm, August 28th, 2011 - 21 comments
Like many countries worldwide, New Zealand has an aging problem. Digging around the available charts it isn’t hard to see why. But New Zealand has less of a problem than many developed countries because of the demographics of our Maori and Pacifica populations plus the continuing immigration. It is still pretty bad.
Written By: - Date published: 12:19 pm, August 25th, 2011 - 42 comments
Angry Old White Man Party (ACT) Leader Don Brash is to launch another attack on young people. It’s strange that this once significant and principled party has sent its dying days picking the on the young. The latest stupid idea is to remove the minimum wage for under 20s altogether and cut spending to cut taxes that the rich pay.
Written By: - Date published: 6:17 am, August 24th, 2011 - 105 comments
Gareth Morgan and Susan Guthrie’s piece in the Herald brilliantly elucidates the crisis of capitalism and the inadequacy of an economic system that only recognises value in work that produces market goods and services. Their book, The Big Kahuna, on their alternative tax system has just been published and I found these videos of Morgan explaining.
Written By: - Date published: 8:22 am, August 20th, 2011 - 21 comments
France and Germany are leading the way on the “Robin Hood” tax, and a Europe wide implementation could be the next step. Bring it on!
Written By: - Date published: 2:04 pm, August 16th, 2011 - 53 comments
Today Warren Buffett, the third wealthiest man in the world, has come out demanding his mega-rich friends play a part in the American economic recovery. He is recognised as one of the smartest and most successful investors alive, his words should not be dismissed lightly, especially as we approach our own election and grapple with the issue of tax reform.
Written By: - Date published: 7:20 am, August 15th, 2011 - 61 comments
A better than usual interview of John Key by Guyon Espiner on Sundays Q+A. On the plus side Espiner was raising some serious issues. On the minus he let Key get away with his usual lies and evasions.
Written By: - Date published: 7:40 am, August 12th, 2011 - 122 comments
Farrar and others of the Right push for ever lower taxes, but their arguments are laughably flimsy. Tax cuts don’t raise revenue. Tax cuts don’t cause growth. In search of their ”superior moral justification for selfishness” the Right are going to have to do a lot better than that…
Written By: - Date published: 12:46 pm, August 10th, 2011 - 52 comments
There are some interesting comments in the Standard and Poor’s press release announcing the US downgrade. They say fixing debt isn’t just about cuts but raising revenue too. They also note the US difficulty in reaching a consensus on fiscal policy, and the looming demographic that will drive age-related spending. New Zealand should be taking note.
Written By: - Date published: 7:20 am, August 5th, 2011 - 57 comments
It isn’t often that I find myself in agreement with Garth George. But he’s written a scorching indictment of right-wing greed that feels right at home here on The Standard…
Written By: - Date published: 12:26 pm, August 3rd, 2011 - 36 comments
The neoliberal myth is that government economic policy doesn’t really matter, it can’t affect the economy – apart from being an anchor on growth. The truth is, government is the biggest actor in our economy. What it does matters. Bernard Hickey has listed 10 ways that the government could act to get the exchange rate down.
Written By: - Date published: 11:45 am, July 19th, 2011 - 21 comments
Associate Finance Minister Steven Joyce has dealt his government’s economic credibility a serious blow by attacking Labour’s costings of its fiscal plan and getting his own numbers wrong. David Cunliffe looks to be enjoying himself as he rips Joyce apart on Red Alert, in the Herald, and in the Dom. So much for Joyce’s dreams of succeeding English as Finance Minister.
Written By: - Date published: 6:56 pm, July 18th, 2011 - 61 comments
If you’re a blogosphere regular, you’ll have noticed that recently every monkey with a copy of the Fountainhead and a crush on John Key has been spouting the line that the top 10% of taxpayers pay 71% of net tax. Sounds incredible, eh? That’s because it’s not credible. It’s more cheap tricks from the Nats.
Written By: - Date published: 12:30 pm, July 18th, 2011 - 63 comments
I’ve been thinking about that lawyer Casey Plunket who threatened to leave for Australia over Labour restoring the 39% top tax rate at the stratospheric threshold of $150,000. It means a couple of thousand more tax for the wealthiest Kiwis. Would anyone really move countries over that? Do we need the kind of people that would?
Written By: - Date published: 6:29 am, July 18th, 2011 - 138 comments
The latest ONE News / Colmar Brunton poll is bad for Labour, and not great for the Left. But it isn’t a verdict on Labour’s CGT proposal – the polling period finished before the policy was announced.
Apparently the undecided in this poll was 14%. I wonder why that was missed out of the reporting?
Written By: - Date published: 10:23 pm, July 17th, 2011 - 101 comments
The Nats can’t tell us how much their asset sales policy will cost in lost dividends and sales costs, yet they’ve magicked up some numbers with all kinds of dodgy assumptions that supposedly show Labour’s tax package doesn’t add up. Well, I suppose they would know something about borrowing for tax cuts but their attacks on Labour aren’t credible.
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