Posts on the economy, work, business, income, and labour
Written By: - Date published: 9:23 am, July 28th, 2011 - 45 comments
Last week, Jim Anderton said that the tidal wave of youth unemployment we’re experiencing will lead to more suicides. He’s right. The best response from the Right: slash young people’s wages and that might create a few more jobs. But Te Ururoa Flavell’s suggestion to ostracise and condemn the dead is just as bad.
Written By: - Date published: 7:07 pm, July 27th, 2011 - 74 comments
A classic from stuff:
Prime Minister John Key said the Government had had very little room to move on the economy.
”The public recognises that the rest of the world isn’t in great shape and so New Zealand is having to contend with that global environment,” he said.
Written By: - Date published: 10:46 am, July 27th, 2011 - 97 comments
Every US dollar we make in exports is worth 17% less in New Zealand than 4 months ago. Gonna get worse. How long’s this sustainable?
Written By: - Date published: 9:23 am, July 27th, 2011 - 45 comments
The Republicans are playing chicken over the debt ceiling. The idea is to win as much as possible in spending cuts and permanently shrink the government by appearing more willing to go over the edge than the Democrats without actually going over. But does the Tea Party faction understand the game, or will they block the last minute compromise?
Written By: - Date published: 7:13 am, July 27th, 2011 - 180 comments
Making sure that children don’t go hungry is not the responsibility of charity, it is the responsibility of all of us, of society. It is the responsibility of government. The National government is failing.
Written By: - Date published: 11:50 am, July 26th, 2011 - 152 comments
Just after Irish has discussed how little it takes to jump from the violent language of the NZ Right to the violent actions of Anders Breivik (and an ‘expert’ had said it can’t happen here), we learn of a rightwinger who planned a van-bomb attack on ACC. The striking thing is that his online rants are unremarkable within the Right’s discourse.
Written By: - Date published: 1:12 pm, July 25th, 2011 - 18 comments
Bill Maher on taxes, the deficit, and why 49% of Americans are voting away their future.
Written By: - Date published: 12:08 pm, July 23rd, 2011 - 3 comments
We’ve written about The Spirit Level on several occasions. Here are the authors discussing the New Zealand situation.
Written By: - Date published: 8:23 am, July 23rd, 2011 - 84 comments
Over the last couple of months two potential crises have been unfolding in two very different countries. Greece and America both looked to be in danger of defaulting on their huge debts and triggering a cascade of disastrous consequences. The situation is still unfolding…
Written By: - Date published: 12:05 pm, July 22nd, 2011 - 89 comments
Under the last Labour-led government the GDP per capita rose 15.6%. Under John Key’s National, it has fallen 1.9%. ‘Ah but Labour was just lucky and Key has just been unlucky’, say the righties. The data, however, shows conclusively which party has the best record on growth.
Written By: - Date published: 10:35 am, July 22nd, 2011 - 13 comments
Another big fall in dairy prices overnight. Yet the dollar keeps breaking record highs.
Written By: - Date published: 9:05 pm, July 21st, 2011 - 89 comments
Should we be more angry or scared? Just read the first official government presentation on peak oil. The IEA says conventional oil peaked in 2006 but our government offers only crude denialism and, paradoxically, blithe assurances that they’re ready. This is the kind of crap we used to see before we had 2 oil shocks in the past 4 years.
Written By: - Date published: 7:08 am, July 21st, 2011 - 48 comments
While Key is monkeying around in LA achieving nothing, Labour is pushing ahead with policies that will take this country forward. Last night, Phil Goff announced the party’s procurement policy at a meeting of Kiwirail Hillside workers, who have just experienced the results of government contracting that ignores wider economic impacts on the country.
Written By: - Date published: 12:59 pm, July 20th, 2011 - 51 comments
Guest poster David Clark at Red Alert has broken news on job cuts at Child Youth and Family. Front line staff will go – yet another broken promise from National.
Written By: - Date published: 7:29 am, July 20th, 2011 - 90 comments
According to a recent report, disadvantaged NZ youth are at the “bottom of OECD league”. The report recommends various interventions in schools. The recommendations completely miss the point, because the problem is not in the schools, the problem is in society.
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: 8:50 am, July 19th, 2011 - 30 comments
Back in October 2010 the Nats were quick to claim credit for low inflation. No doubt they will be just as quick now to accept the blame for inflation at a 21 year high.
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 - 102 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.
Written By: - Date published: 12:55 pm, July 17th, 2011 - 33 comments
The 90% of New Zealanders who don’t trade shares or own a second property suddenly wake up to the horror of a capital gains tax
Written By: - Date published: 4:15 pm, July 16th, 2011 - 113 comments
After two weeks of contradictory, panicked lines from National, the Right’s official critique of Labour’s CGT is “it’s a hodge-podge”. The Right, including Bill English and Don Brash, aren’t saying CGT is bad, they’re saying Labour’s CGT isn’t comprehensive enough. Why, then, don’t they campaign on a more comprehensive one? Maybe they were going to.
Written By: - Date published: 9:08 am, July 16th, 2011 - 15 comments
In a comment yesterday on Eddie’s post ‘CGT or asset sales? Which do you prefer?‘, Matthew Hooton wrote “Where do I tick “I want both”?” Except for Nat sycophants, most righties acknowledge the need for a CGT. What should they do? Well, a little game theory shows that such a rightie should vote for a Labour-led government, this one time.
Written By: - Date published: 12:00 pm, July 15th, 2011 - 34 comments
At the same time as Phil Goff and David Cunliffe were unveiling Labour’s economic vision, Bill English was defending National’s in Parliament.
Written By: - Date published: 9:32 am, July 15th, 2011 - 179 comments
The media have provided us with five people examples of people who will be affected in different ways by Labour’s tax package. Ordinary families win big and they know it. The vested interests moan and reveal the pure greed that underlies their worldview. Frankly, I think Labour will win support due to both who supports and who opposes its tax policy.
Written By: - Date published: 7:15 am, July 15th, 2011 - 84 comments
In response to Labour’s tax proposals the Right is trotting out their favourite mindless catch phrase – “the politics of envy”. Should the Left fight fire with fire, and get stuck in to “the politics of greed”?
Written By: - Date published: 4:05 pm, July 14th, 2011 - 17 comments
It would appear that Don Brash has ideals – and when politically required, he has other ideals.
In fact he has so many ideals that his viewpoint on a Capital Gains Tax appears to veer all over the political landscape especially in his latest press release on CGT. At a guess his only real objection to a CGT is that he is not the person proposing it.
Written By: - Date published: 2:25 pm, July 14th, 2011 - 139 comments
Voters will see Labour oppositions on both sides of the world in a completely new light after this week. Phil Goff and Ed Miliband both took the bold step of taking on hitherto untouchable third-rail issues; capital gains tax in New Zealand and Rupert Murdoch’s pernicious monopoly media influence in England. Both leaders have turned the political landscape upside down and given voters a clear choice between the interests of the many and of the few. Go here for all the details. New Zealand is not for sale – game on for November!
Written By: - Date published: 9:00 am, July 14th, 2011 - 35 comments
According to Gareth Morgan, “all income should be taxed if it is a fair income tax”. So where are taxes coming from right now? Well increasingly more of it is being paid by wage and salary earners, and less by businesses. Hopefully a capital gains tax will partially redress that imbalance.
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