Ring Fencing Matters

[Davo36]

Winnie will string the country along for at least a week from Saturday I reckon.

Cause you know "He's doing it properly... not just rushing things..."

[Perry]

Stumbled across this Oz item. Bad legislation is like a viral epidemic - it spreads on the quiet. The unintended consequences might be a pathetic comedy to watch play out.
The Victorian government is making it easier to rent property, especially if you have pets

[eri]

2 of our top bankers

warming to capital gains tax

BNZ

"I do think the shape of our tax system needs to be looked at, particularly when you consider some of the widening gaps between rich and poor.

"I think addressing that through redistribution, particularly with a capital gains tax, would certainly be something I'd like both (potential) governments to be considering."

https://www.stuff.co.nz/business/money/97676478/bnz-ceo-calls-for-capital-gains-tax

ANZ also seem to be suggesting similar

old economic drivers stepping aside for a new "social-justice" version of capitalism.

https://www.stuff.co.nz/business/farming/97609526/primary-sector-well-placed-as-economy-undergoes-transition

[Perry]

The abuse of the word re-balance annoys me intensely. When was the last attempt made at balancing, what was it and why did it fail?

But I do have a much better idea and the banks should just adore the notion.

Make the baking business like the residential rental business. Make them pay GST but not be able to charge GST.

That should tilt the scales a bit in the taxpayers favour - balanced or imbalanced or re-balanced or not.

Especially as those concerned are keen to see a tax introduced on someone else. Funny, that.

Monetary morons, both.

[flyernzl]

Banks (BNZ, ANZ) want people to deposit their money with them, no put it into invetment property.
So they favour a CGT - as do sharebrokers for the same reasons.
Self interest, really.

[Don't believe the Hype]

Here is a way to rebalance things... we should all go out and spend far more than we earn... spend on all sorts of crap we don't need.

Spend away!

This will reduce the gap between rich and poor as we eat and drink to excess, travel first class to expensive over seas locations vs. economy, buy super cars rather than Toyota's

This spending more than was earned was the way most of the people I know have operated for most of their lives while my wife and I saved 70% of what we earned, invested wisely and went without for a better future.

rebalancing in my mind is for others to spend less than they earn and for those that have gone without to get ahead start spending.

[Davo36]

Stumbled across this Oz item. Bad legislation is like a viral epidemic - it spreads on the quiet. The unintended consequences might be a pathetic comedy to watch play out.
The Victorian government is making it easier to rent property, especially if you have pets

OMFG, politicians!

[Learning]

That's all we'll and good if everyone started out on an even field. But we don't. It's easier to be smart with money when you have some. Those who start with less struggle to keep the little they have. Someone earning bearly enough to cover the essentials will not be able to save 2% of their income let alone 70%.

Those who start half a dozen rungs up the economic ladder will struggle to understand the life of those who can't even reach rung one.

The cost of essentials remain a fairly even constant for all. The "balance" of rich vs poor can be helped by making the essentials of life cheep and the luxuries more expensive.

[Perry]

There's more than a few rags-to-riches stories around; but probably a lot more untold stories of those who don't succeed in improving their financial position significantly.

So what? There will always be rich and always be poor.

Ever read Animal Farm?

[Kbkiwi]

The abuse of the word re-balance annoys me intensely. When was the last attempt made at balancing, what was it and why did it fail?

But I do have a much better idea and the banks should just adore the notion.

Make the baking business like the residential rental business. Make them pay GST but not be able to charge GST.

That should tilt the scales a bit in the taxpayers favour - balanced or imbalanced or re-balanced or not.

Especially as those concerned are keen to see a tax introduced on someone else. Funny, that.

Monetary morons, both.

I would say the last major “re-balance’ was the introduction of working for families - introduced by Labour and expanded by National.

It’s a major redistribution scheme that distributes a significant amount tax revenue back to middle class families. Have to remember that before working for families there wasn’t really many benefits going back to people in work.

[Learning]

Yes we read and studied Animal farm in 4th form English. All about fascism. Based on the birth of the third reich or pre war Russia from memory.

Yes there will always be rich and poor but the gap is widening.

[Kbkiwi]

Yes we read and studied Animal farm in 4th form English. All about fascism. Based on the birth of the third reich or pre war Russia from memory.

Yes there will always be rich and poor but the gap is widening.

id much rather live in a country where the poor are better off, than one that has minimal support for its poorest.

When you leave the poor to fend for themselves, with minimal redistribution and rising inequality, you end up having a Trump elected leader,

[Perry]

Like many tales, I suspect that people saw the overlaying message in differing ways.

The bottom rail against the top until they get to the top and become like just what they railed against.

I believe it's called human nature.

[Don't believe the Hype]

That's all we'll and good if everyone started out on an even field. But we don't. It's easier to be smart with money when you have some. Those who start with less struggle to keep the little they have. Someone earning bearly enough to cover the essentials will not be able to save 2% of their income let alone 70%.

Those who start half a dozen rungs up the economic ladder will struggle to understand the life of those who can't even reach rung one.

The cost of essentials remain a fairly even constant for all. The "balance" of rich vs poor can be helped by making the essentials of life cheep and the luxuries more expensive.

i grew up in a single income family with lots of kids - we never had much (any) spare money and my first job at 13 or 14 y.o. paid $4/hr - I didn't start up the ladder - I worked my ass off, went without and saved and saved to get where I am.

Worked harder than most others and never once complained when I was tired,l or hungry that it wasn't fair. The only difference is I had a plan, I stayed focused and even when things didn't go right I dusted myself off, got back up and had another go.

what arrogance (or is it ignorance) to assume that because of my determination and willingness to go without to set myself up for a better tomorrow that I somehow started ahead of the next guy. Maybe it just helps you feel better about yourself to tell yourself that

[Perry]

Maybe it just helps you feel better about yourself to tell yourself that.

Now, now. I don't think that's what Learning meant. As in, the observation was not necessarily about his/her situation, but about that of certain others.