Capital Gains Tax finally on a major party's agenda

[Oscar]

Not surprising they only have a 30% approval rate. Tabling this when there is nothing to lose is good strategy.

When the incumbent Govt eventually fails, it will be below the radar.

There is an interesting (and quite refreshing) change where both major parties give us the bad news (assets sales & CPT) before an election. In the eighties and nineties, both Labour and National would say pretty much anything to get elected and then stick it to us once they got in office.

[Winston001]

After all the reassurance NZ was better placed than other nations, our debt was low by comparison, no need to panic, don't worry about selling anything to reduce loans...duh THUD. Another international downgrade for us. http://www.stuff.co.nz/dominion-post...ing-downgraded


And NO - this downgrading in not happening to everyone else. Switzerland, Norway, Germany and Canada still ride high along with other nations.

[mashman]

So this means it will be harder to borrow money? More expensive to borrow money?

[rainman]

After all the reassurance NZ was better placed than other nations, our debt was low by comparison, no need to panic, don't worry about selling anything to reduce loans...duh THUD. Another international downgrade for us. http://www.stuff.co.nz/dominion-post...ing-downgraded


And NO - this downgrading in not happening to everyone else. Switzerland, Norway, Germany and Canada still ride high along with other nations.

Yeah, Johnny boy's doing a cracker of a job, isn't he?

[Winston001]

Yeah, Johnny boy's doing a cracker of a job, isn't he?

Awww come on man, bite properly.



Mash - yes, our interest rates will rise slightly because NZ is now perceived as more risky.


To be honest I think the downgrade is harsh. For the record it has nothing to do with our politics - it is actually an assessment of us as a society. The economists think we'll run back to borrowing and spending as soon as we can.

[puddytat]

A society thats going to be sold out if you ask me. ( I know you didnt)
Why can there be any talk of selling stuff when our debt is only around 20% of GDP....
We're are in a better position than I would hazard a guess, of 75% of Nations.
Who the fuck are these people & why do we have to listen to these self appointed experts? If we stopped borrowing money then they'd be stuffed.
If this is the case , then you know & I know that its all spin & really its just to keep us worried so Govts can do what they want, & the Banks can keep the facade of stabilty a little longer.

Want to know whats really going on Aotearoa?
I'd recommend"War on News" by Martin "Bomber'' Bradbury......Google it
A good laugh & more of an alternative ,than standard media presentation of issues effecting you & I.

[BoristheBiter]

A society thats going to be sold out if you ask me. ( I know you didnt)
Why can there be any talk of selling stuff when our debt is only around 20% of GDP....
We're are in a better position than I would hazard a guess, of 75% of Nations.
Who the fuck are these people & why do we have to listen to these self appointed experts? If we stopped borrowing money then they'd be stuffed.
If this is the case , then you know & I know that its all spin & really its just to keep us worried so Govts can do what they want, & the Banks can keep the facade of stabilty a little longer.

It's not just government debt they take into consideration, it's personal as well and I think at the last count NZer's were spending $1.20 for every $1 they earned.

The credit rating is done on banking so has very little to do with the government other than it means they pay higher interest rates on the money they borrow.

[mashman]

It's not just government debt they take into consideration, it's personal as well and I think at the last count NZer's were spending $1.20 for every $1 they earned.

The credit rating is done on banking so has very little to do with the government other than it means they pay higher interest rates on the money they borrow.

Kinda strange given that 80%? of NZ's wealth is controlled by the 10%? of the population... How did the top 10% get so much of that wealth? Let me guess, they worked for it

[BoristheBiter]

Kinda strange given that 80%? of NZ's wealth is controlled by the 10%? of the population... How did the top 10% get so much of that wealth? Let me guess, they worked for it

A bit like how 80% of crime is committed by 20% of the population.

[mashman]

A bit like how 80% of crime is committed by 20% of the population.

because they don't have enough money to survive on, because 10% are hogging it to suck yet more money out of the local economy without a thought for the reprocussions. Some of the 10% are no doubt in your 20%...

[BoristheBiter]

because they don't have enough money to survive on, because 10% are hogging it to suck yet more money out of the local economy without a thought for the reprocussions. Some of the 10% are no doubt in your 20%...

Jealous much??

[mashman]

Jealous much??

I'm completely consumed with jealousy. I can barely contain myself at the thought of frolicking in pools of someone elses money with hired women named Inga.

[Usarka]

This thread must be moved to PD!

[Winston001]

Kinda strange given that 80%? of NZ's wealth is controlled by the 10%? of the population...

?? Where do you get that from?

The Department of Statistics records that 10% of the population control 50% of the wealth. http://www.stats.govt.nz/browse_for_...w-zealand.aspx Nevertheless that doesn't tell us much.

The more interesting fact is 50% (half of us) hold 90% of the wealth. That's not a healthy distribution IMHO.

[Ocean1]

The more interesting fact is 50% (half of us) hold 90% of the wealth. That's not a healthy distribution IMHO.

Get a few more numbers.

I think you'll recognise the shape of the curve, it's got little to do with any arbitrary health index.