Wealth Taxes

[KW]

Dame Jacinda's legacy:
The number of people on JobSeeker Work Ready has increased by 54% under Labour (from 63,048 in March 2018 to 96,885 in March 2023).  A 25% increase in the number of people on the single parents benefit, and a 29% increase in the number on the "Disability" benefit.  The percentage of the working age population on a benefit has gone from 9.2% in March 2018 to 11% - the only growth Labour has overseen in 5 years is in welfare dependence and tax collection. 

We are rapidly becoming a nation of "leaners" not "lifters".  And once the rot sets in, it will be very difficult to remove.

[Waltzing]

 "leaners" not "lifters".

CLASSIC!!!

[KW]

"leaners" not "lifters".
CLASSIC!!!

"Two Kinds of People
There are two kinds of people on earth today,
Two kinds of people no more I say.
Not the good or the bad, for it's well understood,
The good are half bad, the bad are half good.
Not the happy or sad, for in the swift-flying years,
Bring each man his laughter, each man his tears.
Not the rich or the poor, for to count a man's wealth,
You must know the state of his conscience and health.
Not the humble and proud, for in life's busy span,
Who puts on vain airs is not counted a man.
No! the two kinds of people on earth I mean,
Are the people who lift, the people who lean.
Wherever you go you'll find the world's masses
Are ever divided into these two classes.
And, strangely enough, you will find, too, I mean,
There is only one lifter to twenty who lean.
In which class are you? Are you easing the load
Of the overtaxed lifters who toiled down the road?
Or are you a leaner who lets others bear,
Your portion of worry and labor and care?"
― Ella Wheeler Wilcox

[Untamed]

Wow. Another judgmental, self-righteous attack. Not your own words of course, but clearly reflects your personal sentiment. No surprises there though.

"Two Kinds of People
There are two kinds of people on earth today,
Two kinds of people no more I say.
Not the good or the bad, for it's well understood,
The good are half bad, the bad are half good.
Not the happy or sad, for in the swift-flying years,
Bring each man his laughter, each man his tears.
Not the rich or the poor, for to count a man's wealth,
You must know the state of his conscience and health.
Not the humble and proud, for in life's busy span,
Who puts on vain airs is not counted a man.
No! the two kinds of people on earth I mean,
Are the people who lift, the people who lean.
Wherever you go you'll find the world's masses
Are ever divided into these two classes.
And, strangely enough, you will find, too, I mean,
There is only one lifter to twenty who lean.
In which class are you? Are you easing the load
Of the overtaxed lifters who toiled down the road?
Or are you a leaner who lets others bear,
Your portion of worry and labor and care?"
― Ella Wheeler Wilcox

[Waltzing]

Its just a little verse... The human right commission could do a study to see if the 1:20 ratio  true. Thats a very high ration indeed.

However since the human rights commission has lost its captain who was running  a scam on the side they really might have to  shut it down and start again... or not start...

This from today STUFFED articles on NZ...

The political process has become dysfunctional
Oliver Hartwich wrote in The Australian recently about how New Zealand has descended over recent decades into "mediocrity", pointing to declines in healthcare, education, housing, investment, etc. He blames poor political leadership and slothful policy-making processes: "Regardless of how pressing the challenges are, the immediate response is always to do nothing. Grudgingly followed by a working group. Then garnished with small armies of consultants. Eventually culminating in planning delays and finished with a grand centralisation plan – and even then, rounded off with a botched implementation, a few decades later."

Same thing for TAX consulting Groups led by a socialist englishman (Cullen) .

 Lots of family homes will suddenly get a huge bill if they are in Trusts. Saves a lot mucking about with Wills and Applications  for determining inheritance lines... Trusts are simply brilliant forms of companies and hopefully certain assets will be excluded from CGT in any entities.

Its all going to allow accountants and lawyers to make a fortune and they will need to IMPORT THEM!!!  Farther driving up HOUSE PRICES!!!

ha ha ha

Your all STUFFED!!

https://www.nzherald.co.nz/nz/political-roundup-its-true-that-new-zealand-has-lost-its-mojo/MLJT2FUATNCQVDCZQ4QRLRLKDM/

[Breezy]

"Two Kinds of People
There are two kinds of people on earth today,
Two kinds of people no more I say.
Not the good or the bad, for it's well understood,
The good are half bad, the bad are half good.
Not the happy or sad, for in the swift-flying years,
Bring each man his laughter, each man his tears.
Not the rich or the poor, for to count a man's wealth,
You must know the state of his conscience and health.
Not the humble and proud, for in life's busy span,
Who puts on vain airs is not counted a man.
No! the two kinds of people on earth I mean,
Are the people who lift, the people who lean.
Wherever you go you'll find the world's masses
Are ever divided into these two classes.
And, strangely enough, you will find, too, I mean,
There is only one lifter to twenty who lean.
In which class are you? Are you easing the load
Of the overtaxed lifters who toiled down the road?
Or are you a leaner who lets others bear,
Your portion of worry and labor and care?"
― Ella Wheeler Wilcox

I thought the 2 kinds of people were the know-it-alls and those that don't know it all.

[KW]

Wow. Another judgmental, self-righteous attack. Not your own words of course, but clearly reflects your personal sentiment. No surprises there though.

I'm simply pointing out where the famous phrase "be a lifter not a leaner" came from.   I suggest if you view that as a judgemental, self righteous attack on yourself then you probably should get some therapy.  A poem is but a poem.  And it is nothing to do with you at all.

Ella Wheeler Wilcox (November 5, 1850 – October 30, 1919) was an American author and poet. Her works include the collection Poems of Passion and the poem "Solitude", which contains the lines "Laugh, and the world laughs with you; weep, and you weep alone." Her autobiography, The Worlds and I, was published in 1918, a year before her death.

[KW]

Wow. Another judgmental, self-righteous attack. Not your own words of course, but clearly reflects your personal sentiment. No surprises there though.

Is this why you didnt like Australia?

  You cannot view this attachment.

[Ferg]

And it is nothing to do with you at all.

I heard someone give someone else a tip the other day: QTIP.  Kinda fits with what you are saying.

Nice poem by the way and its age shows the more we change, the more things stay the same.  1:20 is probably about right for lifters and leaners.  I call them makers and breakers.  Very few can "make" or create things but plenty can break them.

Cicero also has some great quotes.

[KW]

So Chippie rules out wealth and capital gains taxes, but not before admitting that they were planning on implementing them.  You really can't trust this Govt as far as you can kick them.  

[BlackPeter]

So Chippie rules out wealth and capital gains taxes, but not before admitting that they were planning on implementing them.  You really can't trust this Govt as far as you can kick them. 

You are right - the National led government broke so many promises in the past, we clearly can't trust them: https://www.scoop.co.nz/stories/PA1111/S00331/nationals-growing-list-of-broken-promises.htm

Better trust the anonymous posters on the internet, they all say the truth - all of them and all of the time. Ooops ..., do they?

I just hope that one day we will have an election where people compete with better ideas how to improve the country instead of trying to excel in undermining the other side. Where the better arguments and ideas win instead the most nasty undermining and character assassination of the opposing actors - because this nonsense of not trusting each other will lead us full speed into a real crisis.

The world is full of conservative, progressive and liberal people, and the ratios are pretty much invariable. We can either try to work together and shape a better future (but this involves respecting each other), or we can keep undermining each other, throw dirt against anybody who is still moving and bring the country down to the lowest level possible.

The choice is ours - do we want a flourishing country build by all of us, or do we want to end up in a deserted battle field?

Build together a better society or destroy everything by consistently undermining the other side and throwing grenades?

Where do we want to go?

[KW]

"On the table was a package that would have introduced .... a 1.5% tax on the value of individuals' assets above a $5 million threshold."

That would make the NZ wealth tax the most punitive in the world.  It would be a $75,000 payment on $5M.  Even in Christchurch a nice house (not a mansion) would cost $2M nowadays, let alone Auckland and Wellington.  So if you had a small business worth $2-3M and some savings, you'd be caught in the net.

And that $75,000 would have to be paid for by selling something.  So if you only own a house, commercial property, or business, where would you get the cash?

[BlackPeter]

"On the table was a package that would have introduced .... a 1.5% tax on the value of individuals' assets above a $5 million threshold."

That would make the NZ wealth tax the most punitive in the world.  It would be a $75,000 payment on $5M.  Even in Christchurch a nice house (not a mansion) would cost $2M nowadays, let alone Auckland and Wellington.  So if you had a small business worth $2-3M and some savings, you'd be caught in the net.

And that $75,000 would have to be paid for by selling something.  So if you only own a house, commercial property, or business, where would you get the cash?

Not true. I assume you realize that the family home was excluded from the wealth tax proposal anyway?

It might have caught some of the people banking empty houses and waiting for further price hikes, though. I know about some. My heart is bleeding for them ...

Still - while I am personally not a fan of such a blunt wealth tax (which I am sure, is easily avoidable anyway) - if you complain about the proposal Labour dumped, then at least you should present all the facts.

But given that we are now discussing past and already dumped drafts - I assume there are not many good and recent reasons against some sort of wealth tax, are they?

[KW]

But given that we are now discussing past and already dumped drafts - I assume there are not many good and recent reasons against some sort of wealth tax, are they?

Its only "past" until like every other broken promise, Labour resurrects it later.  I also remember the promise "no new taxes" but that clearly meant nothing.  
Just  means that people should be making backup plans, like keeping a lot of assets offshore so you can get out when you need to.  

[Waltzing]

Tax it like its ...  ok lets not ...

Cathy wood says a new roaring 20's is coming. That should give you a few year to move out to where ever the party is getting started....

https://www.stuff.co.nz/opinion/132547885/damien-grant-what-labours-wealth-tax-plan-tells-us-about-our-leaders