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Labour's Woe-Is-Me Poster Boy
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So he spent 40 years or so paying his income tax as an individual as has his wife but the moment he loses his income the two are regarded as one. Now as far as I know we don't have income sharing for taxation purposes, except through the use of LAQC's, so why is he discriminated against because she earns more than $20,000.
If they decided tomorrow that they should separate and one goes to live in a caravan or a flat down the road or such then they are entitled to all sorts of help. In the 80's and 90's many hundreds took this course because it was financially the only way to survive. Not the best for families but many did it. Are we satisfied that that is good.
If I was in their predicament that's what I would do. Who ever checks?
What it does show is that the social taxation system is dumb and biased and that we would be better off if taxes were lowered but people were required to maintain their own insurance for these situations.
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Actually not a lot wrong with the example but they failed to disclose and failed miserably to use the information to make their point. Indeed I suspect that if we knew the true extent of the issue there would be quite a few property investors that could be faced with the same set of circumstances.
They have not necessarily done anything wrong but circumstances can change rapidly e.g. last year and sometimes it can get difficult. How many of us have businesses which have had severe cuts in turnover and are now just viable but not producing the cash they used to and therefore make it hard to pay the mortgage.
How many of us had planned their property portfolio with care but have been caught by changing circumstances?
How many have looked to sell a property in the last year when rates were high but found that it isn't a viable option because the bank wants its money back of the next mortgage in the line?
How many of us have a heap of assets but no money?
As a property investor do you think these guys did something wrong? I have no idea and the amount of property owned is irrelevant to the issue of tax fairness, which I know you were not commenting on.
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I agree K1w1. What are Labour saying? That a couple who own 3 properties should get the dole?
Since when, if you own 3 properties (even if you have mortgages and the rent only just covers that) are you poor?
Surely being poor means you can't feed yourself, or pay for electricity or something. Not just that your property investments aren't doing so well at the moment?!?
Is everyone to become a beneficiary?Squadly dinky do!
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The dole is intended as a bare basic safety net for households without income to keep people above the poverty line, not as a default insurance scheme for anyone who loses their job.
Who would be willing to pay the price tag to guarantee every kiwi a minimum income of level regardless of household earnings? Every stay-at-home mum would be entitled to it for starters. Should we increase marginal tax rates for $40K+ incomes to 50% and be done with it?
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Originally posted by Davo36 View PostI agree K1w1. What are Labour saying? That a couple who own 3 properties should get the dole?
Since when, if you own 3 properties (even if you have mortgages and the rent only just covers that) are you poor?
Surely being poor means you can't feed yourself, or pay for electricity or something. Not just that your property investments aren't doing so well at the moment?!?
Is everyone to become a beneficiary?
There are many who do get the dole that have never really tried to make themselves better. The system has failed this couple and others like them (others without 3 properties). I know that there are other options for them and maybe they need help to find them. Maybe someone should point them here or maybe someone from here with all the answers could go and find them and offer help.
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