Speaking of...

[James Deuce]

The NZ Dollar and Economics, here's a press release from the Government to begin preparing the "General (filthy unwashed) Public" for the cancelling of the proposed tax cuts.

Fundamentally, it amounts to; "The big boy from overseas did it and ran away."

http://www.stuff.co.nz/stuff/0,2106,3496641a10,00.html

[Marmoot]

I might be a bit of a conspiracy theorist, but I think the government is trying to get any excuse to cancel out their promised tax-cut.

Bloody good on them! That's the way to do business. My only problem is it's my hard-earned-money they're taking without giving.

[Hitcher]

I am not in a mood to be wound up. I am breathing quitely. I am resisting a strong temptation to rave about the Gummint's fiscal policies. Be impressed. Be very impressed...

[madboy]

I am not in a mood to be wound up. I am breathing quitely. I am resisting a strong temptation to rave about the Gummint's fiscal policies. Be impressed. Be very impressed...

What you moaning about? At least you get some of my hard earned tax... some of us in the private sector who earn more than the govts perception of rich don't see any.

[Hitcher]

I pay tax too, sunshine. And don't get me started on that topic either.

[MacD]

The NZ Dollar and Economics, here's a press release from the Government to begin preparing the "General (filthy unwashed) Public" for the cancelling of the proposed tax cuts.

Err, Labour didn't promise tax cuts... :spudwhat:

[madboy]

I pay tax too, sunshine. And don't get me started on that topic either.

And a lot more tax than I do too I dare say, but at least you're in the public sector...

[Sketchy_Racer]

OH SUPRISE SUPRISE

did any one actually believe that it was gonna happen??

they say it every election and it NEVER happens EVER!!!

thats why i dont give a flying rats arse about govenment bulls**t!!!

[TwoSeven]

I dont think anyone said labour were promising tax cuts. I think jim was saying that labour where trying to scare monger everyone into stopping asking for them. Because labor has spent all the money.


I think the article is referring to government spending adding pressure to the current account as this graph shows is rather overdrawn already.

This link explains it a bit better.

Basically what its saying is that NZ is under pressure because of its economy, and the government annoucing big spending plans doesnt help.

Here is where all the money went.

[Skyryder]

Just goes to show how much National was prepared to fuck up the county just to get the treasuary benches. Thank God they did not win. To think that so many voters trusted a banker.

Skyryder

[MacD]

Basically what its saying is that NZ is under pressure because of its economy, and the government annoucing big spending plans doesnt help.

Yep, I agree, but Jim did state "the cancelling of the proposed tax cuts".

Labour offered targetted spending, National offered tax cuts. Why not use the correct statement? There are already replies along the lines of "bloody Labour not giving us the promised tax cuts".

It's an example of how political debate gets distorted so quickly.

I also predicted in an earlier thread around election time that if National had got in it too would find a similar excuse not to put the full extent of it's tax policy in place. NZ is facing a serious current account deficit but everybody ignored it during the election for some reason (so they would get elected)?

[James Deuce]

Semantics. Family assistance increases and reductions in threshold for qualification amounts to a tax cut for those with children. It is actually needed. Kindergarten and School fees have ramped up vicously in the last 24 months in my area, and it will be a struggle to send 1 kid to school, one to kindergarten, plus dealing with huge amount we have to spend on specialist medical care for number three, and that is after private medical insurance has paid most of the bills.

You're arguing about my quality of life, and what I can offer my kids.

There is a body of evidence supporting flat tax rates, both at a high socialist levels, a la Scandinavian models, and lowered flat tax rates, with increased personal responsibility for health and education. However we don't produce a globally required resource like iron (Sweden), or Oil (Norway) to support the socialist model, but whipping the rug out from under the current benefit model in NZ would create horrific poverty for a large enough chunk of the population.

However doing nothing punishes the much loathed middle income earners, who are collectively responsible for the colonial wrongs of NZ history, mismanaging the welfare state, and inflicting wanton social changes in a short period of time on an unprepared populace. Oh, and they don't pay enough tax.

I didn't chose my words carefully MacD, but Labour did promise "income relief" to people in my position with a large mortagage, 3 or more kids, and slowly reducing real income due to CPI creep and no wage or salary increase for 5 years. It isn't going to happen now, thanks to economic forces that are massively beyond my personal influence.

Economists always forget that they trade in greater human misery than Generals.

[idb]

Semantics. Family assistance increases and reductions in threshold for qualification amounts to a tax cut for those with children. It is actually needed. Kindergarten and School fees have ramped up vicously in the last 24 months in my area, and it will be a struggle to send 1 kid to school, one to kindergarten, plus dealing with huge amount we have to spend on specialist medical care for number three, and that is after private medical insurance has paid most of the bills.

You're arguing about my quality of life, and what I can offer my kids.

There is a body of evidence supporting flat tax rates, both at a high socialist levels, a la Scandinavian models, and lowered flat tax rates, with increased personal responsibility for health and education. However we don't produce a globally required resource like iron (Sweden), or Oil (Norway) to support the socialist model, but whipping the rug out from under the current benefit model in NZ would create horrific poverty for a large enough chunk of the population.

However doing nothing punishes the much loathed middle income earners, who are collectively responsible for the colonial wrongs of NZ history, mismanaging the welfare state, and inflicting wanton social changes in a short period of time on an unprepared populace. Oh, and they don't pay enough tax.

I didn't chose my words carefully MacD, but Labour did promise "income relief" to people in my position with a large mortagage, 3 or more kids, and slowly reducing real income due to CPI creep and no wage or salary increase for 5 years. It isn't going to happen now, thanks to economic forces that are massively beyond my personal influence.

Economists always forget that they trade in greater human misery than Generals.

I wouldn't mind paying the tax I do so much if I didn't also have to pay for health insurance for my family, see poor confused buggers wandering the streets and going through rubbish bins when I visit the city and pay more and more every year for my kid to go to school.
How the f*ck could National promise huge tax cuts when all this shit is going on!!!
And as for the tax free student loans...grrrrrrrrr

[riffer]

You're right Jim, and it's not unexpected.

According to National Radio this morning, our greatest export this year appears to be cash - we have the highest interest rates for deposits in the developed world, and we are awash with foreign cash at present.

Has anyone asked where the money is going to come from?

Perhaps our Minister of Foreign Affairs ( ) could look into this - when he drags his snout out of the trough for a few minutes.

And it could be worse Jim - you're not paying child support ...

[James Deuce]

And it could be worse Jim - you're not paying child support ...

We would all be better off financially if I was.