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	<title>Comments on: Calculating Tax Cuts</title>
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	<link>http://www.kiwiblog.co.nz/2008/05/calculating_tax_cuts.html</link>
	<description>DPF&#039;s Kiwiblog - Fomenting Happy Mischief since 2003</description>
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		<title>By: tom hunter</title>
		<link>http://www.kiwiblog.co.nz/2008/05/calculating_tax_cuts.html#comment-449385</link>
		<dc:creator>tom hunter</dc:creator>
		<pubDate>Fri, 23 May 2008 02:35:59 +0000</pubDate>
		<guid isPermaLink="false">http://www.kiwiblog.co.nz/?p=19947#comment-449385</guid>
		<description>David

Off-topic but....... I asked yesterday whether the ability to submit images in Wordpress had been switched off for this site? I saw an image in one thread a while ago but nothing since. 

I ask because I wanted to submit a couple of poster pictures on the Obama threads.

[DPF: I have not changed anything in relation to that]</description>
		<content:encoded><![CDATA[<p>David</p>
<p>Off-topic but&#8230;&#8230;. I asked yesterday whether the ability to submit images in Wordpress had been switched off for this site? I saw an image in one thread a while ago but nothing since. </p>
<p>I ask because I wanted to submit a couple of poster pictures on the Obama threads.</p>
<p>[DPF: I have not changed anything in relation to that]</p>
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		<title>By: David Farrar</title>
		<link>http://www.kiwiblog.co.nz/2008/05/calculating_tax_cuts.html#comment-449379</link>
		<dc:creator>David Farrar</dc:creator>
		<pubDate>Fri, 23 May 2008 02:22:48 +0000</pubDate>
		<guid isPermaLink="false">http://www.kiwiblog.co.nz/?p=19947#comment-449379</guid>
		<description>Bryan: Not at all mind.

Philbest: Well if you earn $20,000 in Australia soon you will pay zero tax!</description>
		<content:encoded><![CDATA[<p>Bryan: Not at all mind.</p>
<p>Philbest: Well if you earn $20,000 in Australia soon you will pay zero tax!</p>
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		<title>By: PhilBest</title>
		<link>http://www.kiwiblog.co.nz/2008/05/calculating_tax_cuts.html#comment-449367</link>
		<dc:creator>PhilBest</dc:creator>
		<pubDate>Fri, 23 May 2008 01:44:10 +0000</pubDate>
		<guid isPermaLink="false">http://www.kiwiblog.co.nz/?p=19947#comment-449367</guid>
		<description>DPF, hit us with the comparisons between Aussie and here for the LOWEST income groups, would ya? Kind of gives the lie to the NZ socialists alleged representation of the &quot;working poor&quot;. No wonder the Trades in NZ are leaking contract labourers flat out.</description>
		<content:encoded><![CDATA[<p>DPF, hit us with the comparisons between Aussie and here for the LOWEST income groups, would ya? Kind of gives the lie to the NZ socialists alleged representation of the &#8220;working poor&#8221;. No wonder the Trades in NZ are leaking contract labourers flat out.</p>
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		<title>By: Kimble</title>
		<link>http://www.kiwiblog.co.nz/2008/05/calculating_tax_cuts.html#comment-449362</link>
		<dc:creator>Kimble</dc:creator>
		<pubDate>Fri, 23 May 2008 01:37:06 +0000</pubDate>
		<guid isPermaLink="false">http://www.kiwiblog.co.nz/?p=19947#comment-449362</guid>
		<description>RRM, i really dont expect you to understand, but Cullens problem is that tax cuts are affordable when you have a world-record sized surplus and wouldnt be inflationary if they had been accompanied by a reduction (or even a slowing) of expenditure growth at any point over the last 5 years.

We have been calling for tax cuts for 5 years or more because they have been affordable and justified for 5 years or more.

It is like a person with a broken leg screaming out for someone to set it for days, and finally when the medic decides to do it, the leg has already healed itself at an awkward angle. That cast isnt going to do anything anymore. Would you vote that medic, Health Carer of the Year?

What about the other medic that has been calling for the leg to be set for these days as well? When he finally gets the opportunity to help he cant just set the bone and put a cast on it, even though that is what he has been calling for for days.

He has to rebreak the leg to set it correctly. And now you and your sort will blame the new medic for all the pain and suffering caused by the previous guys incompetence/malice, demand that he be fired, and that the student of the previous medic be given the job.</description>
		<content:encoded><![CDATA[<p>RRM, i really dont expect you to understand, but Cullens problem is that tax cuts are affordable when you have a world-record sized surplus and wouldnt be inflationary if they had been accompanied by a reduction (or even a slowing) of expenditure growth at any point over the last 5 years.</p>
<p>We have been calling for tax cuts for 5 years or more because they have been affordable and justified for 5 years or more.</p>
<p>It is like a person with a broken leg screaming out for someone to set it for days, and finally when the medic decides to do it, the leg has already healed itself at an awkward angle. That cast isnt going to do anything anymore. Would you vote that medic, Health Carer of the Year?</p>
<p>What about the other medic that has been calling for the leg to be set for these days as well? When he finally gets the opportunity to help he cant just set the bone and put a cast on it, even though that is what he has been calling for for days.</p>
<p>He has to rebreak the leg to set it correctly. And now you and your sort will blame the new medic for all the pain and suffering caused by the previous guys incompetence/malice, demand that he be fired, and that the student of the previous medic be given the job.</p>
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		<title>By: RRM</title>
		<link>http://www.kiwiblog.co.nz/2008/05/calculating_tax_cuts.html#comment-449354</link>
		<dc:creator>RRM</dc:creator>
		<pubDate>Fri, 23 May 2008 01:01:25 +0000</pubDate>
		<guid isPermaLink="false">http://www.kiwiblog.co.nz/?p=19947#comment-449354</guid>
		<description>Kimble: but The Tax Cut That Will Fix Everything is currently the one and only major leg that National&#039;s election platform stands on. 

Why would people vote for Our Hero Mr John Key if he won&#039;t even deliver The Tax Cut That Will Fix Everything?</description>
		<content:encoded><![CDATA[<p>Kimble: but The Tax Cut That Will Fix Everything is currently the one and only major leg that National&#8217;s election platform stands on. </p>
<p>Why would people vote for Our Hero Mr John Key if he won&#8217;t even deliver The Tax Cut That Will Fix Everything?</p>
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		<title>By: Bryan Spondre</title>
		<link>http://www.kiwiblog.co.nz/2008/05/calculating_tax_cuts.html#comment-449338</link>
		<dc:creator>Bryan Spondre</dc:creator>
		<pubDate>Fri, 23 May 2008 00:07:23 +0000</pubDate>
		<guid isPermaLink="false">http://www.kiwiblog.co.nz/?p=19947#comment-449338</guid>
		<description>DPF: hope you don&#039;t mind but I have posted a video on YouTube of Dr Cullens response to your budget question here: http://nz.youtube.com/watch?v=y2UIy5xWbrQ</description>
		<content:encoded><![CDATA[<p>DPF: hope you don&#8217;t mind but I have posted a video on YouTube of Dr Cullens response to your budget question here: <a href="http://nz.youtube.com/watch?v=y2UIy5xWbrQ" rel="nofollow">http://nz.youtube.com/watch?v=y2UIy5xWbrQ</a></p>
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		<title>By: Kimble</title>
		<link>http://www.kiwiblog.co.nz/2008/05/calculating_tax_cuts.html#comment-449327</link>
		<dc:creator>Kimble</dc:creator>
		<pubDate>Thu, 22 May 2008 23:31:14 +0000</pubDate>
		<guid isPermaLink="false">http://www.kiwiblog.co.nz/?p=19947#comment-449327</guid>
		<description>Just had a delicious idea.

National should announce that due to the imprudence of the current Finance Minister, the country can no longer afford to cut taxes. Furthermore, National will work in their first term to tighten the belts of government to avoid the need to send the country into debt to pay for the tax cuts Cullen has recklessly made unaffordable and allow continued saving for our collective retirement.

Really pull the rug out from under Labour.

Cullen has gone through a dangerous mid-life crisis while still in power and has spent the countries retirement funds on a flashy sports car to impress/punish a spouse who has fallen out of love with him in the last few years.</description>
		<content:encoded><![CDATA[<p>Just had a delicious idea.</p>
<p>National should announce that due to the imprudence of the current Finance Minister, the country can no longer afford to cut taxes. Furthermore, National will work in their first term to tighten the belts of government to avoid the need to send the country into debt to pay for the tax cuts Cullen has recklessly made unaffordable and allow continued saving for our collective retirement.</p>
<p>Really pull the rug out from under Labour.</p>
<p>Cullen has gone through a dangerous mid-life crisis while still in power and has spent the countries retirement funds on a flashy sports car to impress/punish a spouse who has fallen out of love with him in the last few years.</p>
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		<title>By: tim barclay</title>
		<link>http://www.kiwiblog.co.nz/2008/05/calculating_tax_cuts.html#comment-449326</link>
		<dc:creator>tim barclay</dc:creator>
		<pubDate>Thu, 22 May 2008 23:31:13 +0000</pubDate>
		<guid isPermaLink="false">http://www.kiwiblog.co.nz/?p=19947#comment-449326</guid>
		<description>After nine years of hard Labour all they could come up with is a miserable $16 and some forward programme which they have cancelled in the past.  Conversely in Australia, running SMALLER supluses the culmulative tax reduction over that 9 year period has been $100 pw.  And the Australians have a forward programme partly financed by expenditure reductions.  This Government is not making any cuts to Government spending saying services will be placed at risk.  All money is being spent wisely by the Labour Government far more wisely than the individuals who have their wealth confiscated to finance it.  Pigs are flying.</description>
		<content:encoded><![CDATA[<p>After nine years of hard Labour all they could come up with is a miserable $16 and some forward programme which they have cancelled in the past.  Conversely in Australia, running SMALLER supluses the culmulative tax reduction over that 9 year period has been $100 pw.  And the Australians have a forward programme partly financed by expenditure reductions.  This Government is not making any cuts to Government spending saying services will be placed at risk.  All money is being spent wisely by the Labour Government far more wisely than the individuals who have their wealth confiscated to finance it.  Pigs are flying.</p>
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		<title>By: Matt Nolan</title>
		<link>http://www.kiwiblog.co.nz/2008/05/calculating_tax_cuts.html#comment-449321</link>
		<dc:creator>Matt Nolan</dc:creator>
		<pubDate>Thu, 22 May 2008 23:24:28 +0000</pubDate>
		<guid isPermaLink="false">http://www.kiwiblog.co.nz/?p=19947#comment-449321</guid>
		<description>&quot;For those who wont be going to check, Matt did qualify his estimate and said that the half of the increase would be due to a price abberation last year so the actual increase is more likely to be around 0.5%.&quot;

Kimble is exactly right - I was talking about the possibility that the underlying inflation rate would head to 4-4.5%, which would look like a 5% inflation rate in September because of a one off fall in the price level in September 2007.  Furthermore, I wasn&#039;t just blaming tax cuts - I was also assuming that fuel prices would push up towards $150 and that the price of meat would start to climb strongly.

However, the psychological impact of an inflation number of 5% would probably have quite an impact - and is something the RBNZ will be mindful of when delivering its MPS on the 5th of June.  I think Alan Bollard is best qualified to tell us the inflation risks though - and although the tax cuts were significantly higher than those placed in the RBNZ March forecasts I can still see them cutting rates this year if they believe credit condition are still artificially tight (as tight global credit conditions have lifted interest rates without any RBNZ action).</description>
		<content:encoded><![CDATA[<p>&#8220;For those who wont be going to check, Matt did qualify his estimate and said that the half of the increase would be due to a price abberation last year so the actual increase is more likely to be around 0.5%.&#8221;</p>
<p>Kimble is exactly right &#8211; I was talking about the possibility that the underlying inflation rate would head to 4-4.5%, which would look like a 5% inflation rate in September because of a one off fall in the price level in September 2007.  Furthermore, I wasn&#8217;t just blaming tax cuts &#8211; I was also assuming that fuel prices would push up towards $150 and that the price of meat would start to climb strongly.</p>
<p>However, the psychological impact of an inflation number of 5% would probably have quite an impact &#8211; and is something the RBNZ will be mindful of when delivering its MPS on the 5th of June.  I think Alan Bollard is best qualified to tell us the inflation risks though &#8211; and although the tax cuts were significantly higher than those placed in the RBNZ March forecasts I can still see them cutting rates this year if they believe credit condition are still artificially tight (as tight global credit conditions have lifted interest rates without any RBNZ action).</p>
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		<title>By: Kimble</title>
		<link>http://www.kiwiblog.co.nz/2008/05/calculating_tax_cuts.html#comment-449312</link>
		<dc:creator>Kimble</dc:creator>
		<pubDate>Thu, 22 May 2008 22:53:59 +0000</pubDate>
		<guid isPermaLink="false">http://www.kiwiblog.co.nz/?p=19947#comment-449312</guid>
		<description>For those who wont be going to check, Matt did qualify his estimate and said that the half of the increase would be due to a price abberation last year so the actual increase is more likely to be around 0.5%.</description>
		<content:encoded><![CDATA[<p>For those who wont be going to check, Matt did qualify his estimate and said that the half of the increase would be due to a price abberation last year so the actual increase is more likely to be around 0.5%.</p>
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