Things are going from bad to worse for Steven Joyce. Labour has released its estimate of the cost of lost dividends by 2025 if National’s asset sales plan goes ahead: $9.7b. All omitted from National’s budget. Labour has challenged National to concede the numbers or provide its own. Instead, Joyce’s excuses just show he doesn’t understand accounting.
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.
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If you’re pissed off about how much you’re paying to fly your to LA PM to eat pavs, you’re just envious.
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.
Key’s off on holiday again. 5 days of taxpayer-funded travel and the only real meeting will be half an hour with Obama. But first, he’s in LA solely to have dinner with Warners. Value for our money eh? Key’s more excited about standing in the Oval Office so he can pretend to be powerful than achieving anything solid from his time in the US.
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.
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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.
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?
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?
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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.
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
Local climate change deniers want to organise a debate featuring visiting “celebrity” Christopher Monckton. I’m all for scientific debate of course. But you can’t have such a debate with Monckton, because he’s a serial liar.
More nice work from Greg Salmond… Better add ACC to that list.
Hey, where is Key lately?
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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.
DPF thinks that comparing Lockwood Smith to a KKK member is “a pretty disgusting smear”. Could this be the same DPF who ran a billboard campaign comparing Labour government politicians to brutal dictators?
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.
I’ve been impressed with Labour on both sides of the ditch lately. Here of course Phil Goff’s Labour party has moved very boldly on the CGT. But across the ditch in Oz, Labor leader and PM Julia Gillard is fighting an even tougher battle on carbon pricing. Go Gillard!
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Weekend social is for non political chat. What’s on for the weekend, gigs, film or book reviews, sports, or whatever. No politics, no […]
At the same time as Phil Goff and David Cunliffe were unveiling Labour’s economic vision, Bill English was defending National’s in Parliament.
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.
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”?
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You’ve gotta love Hone Harawira’s style. By refusing to use the right words in his oath, Hone exposed the ridiculousness of our representatives swearing allegiance to a Queen on the far side of the world and calling on the aid of a deity that only 50% of us believe in. Lockwood Smith had no choice. The oath is law. It’s the law that needs to change.
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.
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!
So, Don Brash is having trouble getting any Maori candidates for ACT. Apparently, he identified 3 possibles – 2 turned out to be “unsuitable” (not old white reactionaries?) and one wasn’t interested. My question, however, is this. If Brash does manage to headhunt a token Maori and give them a winnable list place, isn’t that race-based privilege?
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.
A former chief inspector of coal mines yesterday told the Pike River inquiry that the underlying cause of the disaster was the weakening of mining regulations in the 1990s. Yet another example of the frequent and costly failures of deregulation. RIP the Pike River miners.
Generally, no-one likes taxes, but Labour’s polling shows Kiwis are surprisingly receptive to capital gains tax. Head to head with National asset sales plan, the choice was clear: 55% prefer CGT vs 32% privatisation. In a contest of economic plans, Labour wins hands down. Even John Whitehead agrees. All English can do is scaremonger about the 35% debt ceiling.
