Labour Planning for another Property Boom

[drelly]

Almost tempted to vote Labour!

Labour has costed the "Best Start" child payments at $151 million in the first full year and rising - adding up to almost $1 billion in their first four years.

read more: http://www.nzherald.co.nz/nz/news/ar...ectid=11192808

[Davo36]

Yep, all they do is hand out lollies.

Which is total BS, but gotta be good for rents!

[drelly]

Don't think they will get in this time though... not unless National are forced into a coalition they can't form.

[Leftette]

With the cutoff set at a generous $150k household income, then they risk shooting themselves in the foot when it becomes apparent that the tax rise to fund it applies to anyone earning over $50k, so taking with one hand and giving with the other. Unless they plan on only raising taxes for the over $150k'ers? Obviously capital gains applies to ALL, but I was of the opinion that this tax would take years to filter thru an increased tax-take.

[Davo36]

Oh there will be increased income taxes for the 'rich pricks' Leftette. For sure.

Last time they set it at $60k and watched it envelop such richies as teachers, police officers etc.

It'll be a bit higher this time but no higher than $80k I'd say.

And Drelly, I reckon they will win. National have few to no partners and have alienated large swathes of the electorate. Labour/Greens will pip them at the post I reckon.

[speights boy]

Their 2011 policy was 39% in at $150,000.
The $150,000 figure in this baby policy was no accident....although it is of course a household figure, not individual income.

[Leftette]

Which they can use when setting the threshold at $75k (per person).

[Leftette]

Scrub that thought.

[speights boy]

Scrub that thought.

I believe they may well have.....

[Leftette]

Is a small-to-moderate tax increase on >$150k going to raise that much, or are these higher earners in for a more serious shock?

[speights boy]

39% over $150k is about 300m pa apparently.
Doctrine as much as anything else.

[eri]

"donations" for auckland boys grammar now set at $1050 per year

"donations" for otahuhu college now set at $50 per year

will the left try this with pensions and healthcare?

will those in wealthy suburbs be "taxed" 21x higher than less wealthy suburbs for formerly free services?

ie will some form of the decile - donation system be used to pay for those that can't pay for themselves?

who will the majority eat

when the rich have been eaten?

[speights boy]

Millionaire Number Grows - money - business | Stuff.co.nz

More New Zealanders are earning millions, but the culprit may be a crackdown on tax dodgers rather than newfound wealth.

[Davo36]

39% over $150k is about 300m pa apparently.
Doctrine as much as anything else.

Yeah the $150k plus people are already paying heaps of tax too.

Their threshold for higher taxes will be lower than $150k I reckon.