The Budget Tax Package
May 20th, 2010 at 2:20 pm by David FarrarThe Government has done a very nice job of not repeating their mistake at the beginning of the year when they over-egged expectations and under-delivered – which had Phil Goff reading out in the House my “B” grade to the PM’s beginning of year statement.
The tax cuts in this budget go well beyond what media had been predicting with a huge drop in the second lowest tax rate, and also a welcome drop in the corporate tax rate from 30% to 28% at 1 April 2011. This will help attract investment to NZ and matches Australia. The tax package gets an A- from me.
The tax rate changes from 1 October 2010 are:
- Up to $14K – tax rate goes from 12.5% to 10.5%
$14K to $48K – tax rate goes from 21.0% to 17.5%
$48K to $70K – tax rate goes from 33.0% to 30.0%
$70K+ – tax rate goes from 38.0% to 33.0%
Workers earning around the average full-time wage ($40K to $48k) will, over 18 months, have had their top marginal tax rate go from 33% to 17.5% – almost halved.
Two thirds of the “cost” of tax cuts goes to reducing bottom two rates and 73% of income earners will have a top tax rate of 17.5%. You keep 82.5% of every extra hour you work.
The table above shows the change in income tax for the various tax brackets. They’ve done a very good job of having the reductions fairly smooth across the board as a percentage of existing income tax paid. Those under $70,000 get the largest percentage decrease.
Note the table includes the IETC for non WFF recipients (80% of people). If you exclude that it does not change the absolute savings but the % savings at $30K is 16.4% and $40K is 16.5%.
This table shows the net savings after impact of GST (calculated at 2% CPI increase). As one can see, people at every income level are left no worse off which was the objective.
However the above table only covers income tax and GST. There are also increases in superannuation, benefit adjustments, the changes to depreciation rules and the crack down on LACQs etc. Treasury has estimated the overall impact of tax changes as a percentage of the average disposable income. They estimate:
1 Households earning under $40K will be 0.7% better off
2 Households earning $40K to $85K will be 0.4% better off
3 Households earning over $85K will be 0.7% better off
Some of the other tax changes are:
• No depreciation claims on buildings with an estimated useful life of greater than 50 years
• LAQCs can not deduct losses at the marginal tax rate and pay tax on profits at lower company rate
• Changes to thin capitalization rules to limit foreign multinationals reducing NZ tax liability
• WFF eligibility to exclude investment and rental losses
• Remove the 20% accelerated depreciation loading for new plant and equipment
The property changes will see crown revenue increase by $2.5 billion over four years or an average $600 million a year.
$119 million of funding to IRD for increased audit and compliance is estimated to bring in $745m over four years or $200m a year.
Almost all of that extra $800m will come from higher wealth households.
This is why overall high income households are forecast to, on average, have only a 0.7% increase in disposable income – the same as low income households. One has to not just look at the income tax and GST changes, but the overall package.
And overall one has to conclude it has met the twin aims of both being fair and being good for economic growth.
May 20th, 2010 at 2:23 pm
I think that this will be a bonanza for the IT industry – it has been over 20 years since the last GST increase and there has been a lot of software coding done in that time. Not all programming will have elegant date ranged GST rates and there is probably a lot of hard coded 1.125 values out there, particularly in reports. Businesses need to look at every GST or GST inclusive figure that they see and understand how the number is generated, and how to change it so the new GST rate applies after 1 October (and the old GST rate applies before 1st October).
Possibly Y2K all over again.
Vote:May 20th, 2010 at 2:30 pm
That’s pretty good.
With that 0.7% I will certainly be saving and investing like mad. How did Blinglish manage to come up with such a generous incentive?
Vote:May 20th, 2010 at 2:36 pm
That’s the best gripe you can come up with?
Vote:May 20th, 2010 at 2:40 pm
DPF: The company tax cut is bigger and more important than you say. We go to 28% from 1 April 2011. It will take Australia five years to get to 28%. For the first time for a long time, we will be leading Australia on tax, not following.
Vote:May 20th, 2010 at 2:41 pm
Shoulda stayed in school LRO
Vote:May 20th, 2010 at 2:41 pm
woo hoooooooooooooo i just lost my lolly!
what will Dime do with all that motherfucking cash?
why stop the table at 140?
Vote:May 20th, 2010 at 2:43 pm
Can’t please everyone eh LRO? To be honest you being unhappy makes my day a little sweeter.
Vote:May 20th, 2010 at 2:43 pm
Overall I’m pretty happy with what they’ve managed to come up with. I’d prefer a lower flatter tax system but all in all I’m just happy that they’ve cut taxes – we’ve been fleeced for too long!
I’ll have to decide what to do with my rental now. As the game has changed significantly I think there’ll be a few of us looking at this quite closely. I wonder if others foresee a move to sell off and reinvest elsewhere? I reckon I’ll wait it out as I suspect the housing market is going to take a bit of a kicking now…
Vote:May 20th, 2010 at 2:44 pm
Anywho the Captain just made some serious coin on iPredict – drinks on me and Bill I feel!!
Vote:May 20th, 2010 at 2:50 pm
I’m impressed, still hate WFF, but this will make a big difference to the economy & great to see it was an overall reduction in taxes so everyone is better off even after GST increase.
Vote:Well done !!!
( Let’s hope as the economy improves this won’t be the last tax cut ).
May 20th, 2010 at 2:51 pm
I am trying really hard to hate this budget……… No, still not hating it. Good solid changes to the tax rates, some loopholes changed. 8.5/10
Vote:May 20th, 2010 at 2:53 pm
Way better than I thought it was going to be. 8.5 as well.
Vote:May 20th, 2010 at 2:54 pm
Goff talks about Key and English looking after themselves and their mates on their high income level. Isn’t Goff on that sort of income? I wonder what he’s going with his extra couple of hundred dollars he’s been allowed to keep?
Vote:May 20th, 2010 at 2:54 pm
Ah, even the most perfunctory reading of the previous tax related threads will see a lot of Labour / Green supporters eating some humble pie. As far as budgets go it certainly looks good, doesn’t it?
Well done National. Now let’s see how much more you can push and prod New Zealand in the right directions.
Vote:May 20th, 2010 at 2:56 pm
so..big tax cuts for the rich….funded by everyone else…
does anyone remember key looking down the camera two weeks before the last election..?
..and promising that a national government ‘would not raise gst..?’..’
is that what is called a ‘lie’…?
phil(whoar.co.nz)
Vote:May 20th, 2010 at 2:57 pm
That well and truly exceeded my expectations, for the first time in 11 years something significant for moi. Love it.
Vote:May 20th, 2010 at 2:58 pm
Good to see a stop to people using rentals to claim WFF.
Sorry philu I will just rephrase your quote:
so..big tax cuts for the biggest taxpayers….funded by reducing spending…
Vote:May 20th, 2010 at 2:58 pm
gee..camrun..you too have that rightwing-virus of being unable to focus on substance…
..and just capable of sneering personal attacks…
(you will find a welcome from most here..eh..?..)
phil(whoar.co.nz)
Vote:May 20th, 2010 at 2:58 pm
Quite good; wished they had cut some of the numerous govt funded bodies that achieve little if anything (there for PC purposes).
Vote:Just heard Goof responding; I doubt he believes the nonsene he was spouting – how does he do it?
May 20th, 2010 at 2:59 pm
Ohhhhhhh YESSSSSSSSS!!!!!!!! Please let this be the start of a plan to move to low rate flat tax on earnings and encouragement to invest in productive assets
AND Most important a reduction in Government waste.
the 5 year goal must be 20% Company tax 20% Trust tax 20% top rate personal 20% GST.
Then we will get some real productivity attract the RIGHT SORT of immigrants and encourage the young on their OEs to return to settle down.
Cause we will need all the OErs to come back PLUS top class immigrants to pay the taxes to keep us babyboomers
Vote:May 20th, 2010 at 3:02 pm
‘hammering the needy..to reward the privileged’…
that’s quite good..from goff…
and he is actually doing a very reasonable job of decimating national’s record since in office…
you go goff..!
phil(whoar.co.nz)
Vote:May 20th, 2010 at 3:03 pm
So far so good, makes Cunlliffs preditcition on the budget about as good as mine on lotto numbers, just hoping the net savings in govt expenditure will appear or at least are promised to reduce the govt borrowing requirement or debt outstanding, relying on growth wil not on its own fix the problem although it will be part of the solution.
Vote:May 20th, 2010 at 3:03 pm
Poor ole philu Eyes and ears painted on and in red and green combined
Whats the saying there are none so blind as those that will not see.
Still ole philu like his name sake are last century people Onwards and upwards for we off the RIGHT
Vote:May 20th, 2010 at 3:05 pm
Ok, so now keen for the analysis of how much the ETS scam is going to crowbar back out our pockets.
The last tax cut we saw in April was reversed by the increase in ACC levies. This one will be reversed by ETS-related cost increases as they’re passed back to the consumer
Vote:May 20th, 2010 at 3:05 pm
This is just crazy bullshit Like LeftRightOut said.
Nothing changes…. the government will still go on gouging the working population to give the beneficiaries, the Maori activists, the conservationst mind-fucks and the international climate change cabal a free ride.
Binglish and co. are not even re-arranging the deckchairs…. the deckchairs are sliding around on their own as the ship wallows and rolls out of control. We don’t need ‘tax reform’. We need a complete overhaul of our economic base and this mindless tinkering won’t make a blind bit of difference to our economy.
Not one overseas company will buy one more New Zealand product or service as a result of this piece of crap and until somebody wakes up and works out that we need to EXPORT, we will continue to slide into the third world.
Vote:May 20th, 2010 at 3:06 pm
Dime, I know all that extra motherfucking cash is excellent isn’t it. Or in your case I guess it could be called hookerfucking cash…..
If you wanna calculate how much these changes are worth to you and yours, go here: http://www.taxguide.govt.nz/
Vote:May 20th, 2010 at 3:06 pm
phil, I’ve looked at the substance.
How is it being funded by “everyone else” when their tax cuts cover the increase in GST?..eh..?
Explain yourself.
I am capable of more than sneering personal attacks.
Vote:May 20th, 2010 at 3:08 pm
Check out what this has done to the NZD: http://www.nationalbank.co.nz/economics/exchange/nzdaud.aspx
I suspect a lot of that will be because of the surprise imminent cut to the company tax rate.
Vote:May 20th, 2010 at 3:10 pm
There goes the Neighbourhood.
Vote:May 20th, 2010 at 3:11 pm
Jesus…..Neville is bloody impressive today in the house, he is hammering Goff.
Vote:May 20th, 2010 at 3:15 pm
Tax reductions – great news, long overdue of course.
Vote:However the fact that some one has produced a table showing the net impact of GST & Tax reductions as a linear progression does not actually make it so.
May 20th, 2010 at 3:19 pm
Hey Phil, want to share in the bonanza … get a job
Vote:May 20th, 2010 at 3:19 pm
Government borrowing continues abated?
Borrowing the money plowed into Kiwirail ever three weeks. More money wasted on Health.
Just watch the UK Emergency budget on 22 June to watch how it is supose to be done. Slash that Government spending, slash it now.
Vote:May 20th, 2010 at 3:19 pm
As John and Bill play pass the parcel with income tax and GST rates, Australia quietly gets on with the job of growing its pie – inflation at 2.9%, annual full time weekly wages growth last 12 months 5.8%.
Are we still trying to “close the wages gap” or is that a bridge too far for these clueless titanic deck chair boys?
Vote:May 20th, 2010 at 3:19 pm
big bruv said
It’s a bit like shooting fish in a barrel though big bruv. Goff was woeful; surely he is done for.
Vote:May 20th, 2010 at 3:25 pm
philu I am not sure what you are watching, or whether you are stoned out of your brain, but brruv is right- Key was giving Goofy a hammering. He was reduced to getting all his sycophantic frontbencher kneeling around his seat for some kind of emergency strategy meeting.
Great viewing, although I have turned off the TV now that the whinging ginger australian cunt has started up…. rather cut my eyes out
Vote:May 20th, 2010 at 3:26 pm
I2
Sure, but that is the best display I have seen from Key for a long time.
Now Russ is speaking, and the house is emptying out….lol
Vote:May 20th, 2010 at 3:27 pm
matty – good call! i now have a few months to figure out if i elevate the class of hooker i frequent.. or if i just go more often!?
its a free market though! i get to CHOOSE!
Vote:May 20th, 2010 at 3:29 pm
Ha ha….I find it hilarious when the Greens start talking about economics.
They have no bloody idea.
Vote:May 20th, 2010 at 3:32 pm
I’ll ask again Phil. Please explain how tax cuts for the rich being paid for by ‘everyone else’?
..or are you only capable of repeating sneering slogans from the Labour Party..eh..?
Vote:May 20th, 2010 at 3:34 pm
norman is making a good case for a capital gains tax….
and..fat sibling..yr tory govt in britain…is raising their capital gains tax to 42%..
we have none…
but that is just a matter of when..not if..eh..?
key has just delayed the inevitable..
and camrun..basic maths…key is borrowing $250 million per week…to fund tax cuts for the rich..
your ignoranace is as wide as it is deep…eh..?
phil(whoar.co.nz)
Vote:May 20th, 2010 at 3:34 pm
I suspect a lot of that will be because of the surprise imminent cut to the company tax rate.
Only half that could be attributed to the budget today, helping it is Rudd’s Mining “Fuck the rich” Tax, which has resulted in at least four large mining companies shelving their expansion plans in Australia until they get some certainty.
Vote:To put it simply, the Aussie dollar is in free fall.
May 20th, 2010 at 3:36 pm
Agree with george at 2:40. The 28% company tax rate is the shining star in this budget. Lower than Oz. That could make things interesting.
Vote:May 20th, 2010 at 3:37 pm
The Greens talking about economics and growth gives me a mental picture of a chimp having first discovered some kind of toy, learning how to work it.
It really is painful to listen to, they really are absolutely clueless. Haha
Vote:May 20th, 2010 at 3:39 pm
LRO: As John and Bill play pass the parcel with income tax and GST rates, Australia quietly gets on with the job of growing its pie – inflation at 2.9%, annual full time weekly wages growth last 12 months 5.8%.
OMFG, you dont even know what you are talking about.
On the money minute on Channel 9 this morning, it was all about how mining companies have been deserting the country, putting massive projects on hold as a result of KRudd’s mining tax. LAst week, the Aussie dollar was buying over 90c USD, and 1.32 NZD, this morning it was buying just over 80C USD, and 1.25NZD – cvan’t wait to see what it is tomorrow.
But no, please start making more economic predictions, your 0/100 so far, but hey law off averages sez you’ll to get one right sooner or later – hell even a fucked clock is right twice a day.
All good having wage growth, not so good when you dont have a job cause the mine you were working at has closed down…
Vote:May 20th, 2010 at 3:40 pm
and camrun..key continues to borrow $250 million per week…and increased gst….to fund big tax cuts for the rich…
..it is basic math…
how can that not be…?
phil(whoar.co.nz)
Vote:May 20th, 2010 at 3:41 pm
What is it with the Greens? Normans speech is such a mish mash of ideals without substance. And absolutely no appreciation of where the money comes from and how economic activity is generated.
Vote:The new tax rates will create a welcome stimulus; earnings are left with people to spend as they choose. The glum faces on labour members tell it all – deep deprssion. These tax changes reverse pretty much all the tax increases foisted on people by past labour govts. (and remember that labour govt. increased GST by 2.5%). They know that (in spite of rich prick envy) a promise to reverse these changes is political suicide.
May 20th, 2010 at 3:41 pm
Is anyon watching Red Russ spout a whole lot of garbage about nothing in particular?
Look in the seat behind him at Mad Delahunty, her body language (and the painful times she actually speaks) have given me the distinct impression that she is 100% batshit insane.
Vote:May 20th, 2010 at 3:42 pm
philu: and camrun..basic maths…key is borrowing $250 million per week…to fund tax cuts for the rich..
You could say he is borrowing $250M/week to fund Welfare, so really he is borrowing to fund your benefit.
Vote:May 20th, 2010 at 3:43 pm
LOL at Wussell complaining that this budget will add to the fiscal deficit……
Oh lawdy that is the funniest thing I have ever heard…..
Vote:May 20th, 2010 at 3:43 pm
Phool
As I said yesterday, I am happy to stop borrowing, how about we slash that amount from social welfare?
Vote:May 20th, 2010 at 3:43 pm
norman just pointed out that english wd have argued for a capital gains tax…but that the reactionaries in cabinet wd have had the majority…
norman has also done a sobering environmental-indictment on this key/national govt…
phil(whoar.co.nz)
Vote:May 20th, 2010 at 3:45 pm
philu: The greens have about as much relevance as your tax contributions….
Vote:May 20th, 2010 at 3:45 pm
Before we all get carried away with out tax cuts remember this……
The bastards are going to impose a new tax on us come 1 June by way of the ETS.
Give with one hand…..take away with the other…
Vote:May 20th, 2010 at 3:46 pm
Now Rodney climbing into Labour as well. Chuckle.
Vote:May 20th, 2010 at 3:47 pm
Philu is it sobering to think that your son will be working to pay off the debts we incurred to fund the slothful lifestyle of people like you?
I wonder what he thinks of that.
Vote:May 20th, 2010 at 3:47 pm
ooh..!..hide just had a freudian slip…
‘after his one term of govt…key will have…”
(heh..!..he must have some fresh bad-polling from epsom..eh..?..)
phil(whoar.co.nz)
Vote:May 20th, 2010 at 3:49 pm
fuck…!..hide is talking absolute metaphorical-drivel…
‘fully-tuned cars’..handbrakes on’…
feckin’ idjit..!..
even his act cohorts are squirming at this tr[pe…
..with douglas and roy conspicuous by their absence…
..(sorry..!..make that ‘cohort’..!)
..more metaphors..!..chook-houses..and ..and…
phil(whoar.co.nz)
Vote:May 20th, 2010 at 3:49 pm
6/10 from me.
Still no:
– Indexing of tax bands. It’s dishonest to talk about fixing a broken tax system when you keep the very mechanism by which the tax take creeps up every year.
– Discussion about what’s a sensible target for maximum government spending as % of GDP and how we’re going to get there.
– Axe for the Families Commission and their useless ilk. FC is probably at this moment commissioning a 2-year study entitled “Effect Of GST Rise On Family Outcomes, Equality And How Some People Are Happy And Some People Are Sad But Not Necessarily At The Same Time Although Some People Just Seem To Be Happy All The Time”.
– Welfare Report (Half-way through the 1st term – what the hell were National doing in opposition?)
– Alignment of company, trust and personal tax rates.
– scrapping the student bribe (aka interest-free loans)
Vote:May 20th, 2010 at 3:50 pm
DPF:
I didn’t get that from what I’ve read. I see the LAQC regime remaining unchanged except:
Depreciation can no longer be included as a deduction
Vote:Any losses from an LAQC are added back in when determining WFF eligibility
May 20th, 2010 at 3:55 pm
paul reynolds from telecom..gets an extra $290,000 per year….
he’ll be happy..eh..?
the french champagne will be flowing tonight/already..
..for the big winners..eh..?
phil(whoar.co.nz)
Vote:May 20th, 2010 at 4:00 pm
What’s wrong with that? It was his money in the first place.
Vote:May 20th, 2010 at 4:04 pm
Hey Phool
What will you get a week?
ha ha ha
Vote:May 20th, 2010 at 4:06 pm
You shouldn’t let language twist your thinking. You should have said:
“Paul Reynolds from Telecom, gets to keep an extra $290,000 per year of the salary he earns.”
Vote:May 20th, 2010 at 4:06 pm
“paul reynolds from telecom..gets an extra $290,000 per year….”
So?
Not that its relevant, but he will probably get to keep considerably more than that with share options and other incentives. But it matters not.
Vote:May 20th, 2010 at 4:06 pm
key had the opportunity to make a big jump in any catch-up with australia..and he blew it..
..he should have introduced a capital gains tax….(as most other oecd countries already have…(the british tory govt has just raised theirs to 42%..
..and he could have given the fairest tax cit of all..the same amount for all..
..and that would be achieved by matching australias’ $16,000 tax-free threshold…
like i said..he blew it..
..and just continued his class-warfare..against the poorest..
but also..aside from that..
the cases for both a tax-free band….and a capital gains tax..(on all but family-homes..)
..are both very strong…
and are both..only a matter of time…
phil(whoar.co.nz)
Vote:May 20th, 2010 at 4:11 pm
Lol….Andertons idea for getting rid of poverty
Give them more money!
That type of thinking is why socialism will NEVER work.
Vote:May 20th, 2010 at 4:12 pm
big bruv said “Hey Phool
What will you get a week?
ha ha ha”
big bruv – he’ll get a letter from Paula Bennett’s people, after all the calls to the Dob-in-a-bene line today …
Vote:May 20th, 2010 at 4:14 pm
Ah, the physiology of envy hard at work.
Interestingly the majority of extremely wealthy people get that way as a by-product of their drive and motivation to achieve things with their life. It’s a socialist urban myth that wealthy people clamber to the top as a results of their unbridled greed and eagerness to trample others. There will be examples of this, but they’re well in the minority.
I expect there will be a lot of envy bitching over the next few days.
Vote:May 20th, 2010 at 4:18 pm
anyone been to the standard yet? bet thats hilarious
what are you gonna do with your $1.40 a week phil?
im just fuckin stoked. good timing too. as i get up every morning at 630, cold and frightened… while my neighbor sleeps in cause she cant possibly work.. after all, her kid is 15!
Vote:May 20th, 2010 at 4:20 pm
DPF
Read the speech text now. I see that LAQC’s are now limited partnerships so now the profits of my LAQC are taxed at a higher rate (my marginal rate) than before.
Oh well might as well transfer the LAQC into the trust and start gifting it to keep it away from the multiply-divorced gold diggers
Vote:May 20th, 2010 at 4:29 pm
“..i get up every morning at 630, cold and frightened…..”
aww..!!..is that from yr nightmares…?
..need a cuddy…?…
phil(whoar.co.nz)
Vote:May 20th, 2010 at 4:31 pm
You would cold and frightened at as well Phool if you have seen the chicks he bangs!
Vote:May 20th, 2010 at 4:32 pm
I’ve been trying to dob him in for months but they keep telling me they’re overloaded
Vote:May 20th, 2010 at 4:34 pm
slappers ‘n slags..?
they’d go with a right prick…
phil(whoar.co.nz)
Vote:May 20th, 2010 at 4:34 pm
I applaud the regearing of the tax system towards consumption and away from income. I just wish National had the balls to properly cut some spending to match it. All this does is rearrange the deckchairs. It will help, but not as much as reducing expenditure and giving real tax cuts would.
And for the life of me I can’t figure out why they don’t get rid of that top tax rate. What’s the point of having an extra rate only three cents higher than the other one?!
Vote:May 20th, 2010 at 4:36 pm
“..# RightNow (754) Says:
May 20th, 2010 at 4:32 pm
I’ve been trying to dob him in for months but they keep telling me they’re overloaded
..”
you cd always write a letter..eh..?
(just trying to be helpful here…!..)
phil(whoar.co.nz)
Vote:May 20th, 2010 at 4:49 pm
$1.40 ? Phool you should be celebrating, you got far more than you deserve…
Vote:May 20th, 2010 at 4:50 pm
“..anyone been to the standard yet? bet thats hilarious
..”
you are correct..!..it is..!”..
“The latest Roy Morgan poll makes for grim reading for the government.
Confidence in government is now bouncing between net 25% and 30% positive.
That compares to 55% last October.
Put that another way: 1 in 8 Kiwis have gone from having a postive view of this government to a negative one in the past half year, and it’s showing up in the party’s numbers.
National plus ACT (the Right) now equals 51%.
That was 59% in October.
National on 48.5% at its lowest since February 2009.
The Left (Labour, Greens, Progressives) now stand at 43% up from 34.5% in October.
Labour is up 7.5% from its low this electoral cycle, although there will be disappointment that they’re not pick it up more.
The Greens are the big winners though.
As with every electoral cycle some stupid commentators have been saying the Greens might not get back in, buggering the Left.
Well, at 9% they look pretty solid.
The gap between the two sides has gone from 24.5% to 8%. In other words, if National has another period as bad as the past half year, it loses in 2011.
The next election has always been National’s to lose.
With mining, whaling, visionless economic policy, public service cuts ..
.. and a ‘tax switch’ that puts our money in the rich elite’s pockets, the Nats seem to be doing their damnest to do just that..”
‘hilarious’ enough for you there..?..dime..?
..mmm…????
phil(whoar.co.nz)
Vote:May 20th, 2010 at 4:57 pm
And Big Dad phil joins Baghdad Bob.
Vote:May 20th, 2010 at 5:10 pm
Oh deary me
The feathers are certainly flying at Chateau Bludge.
“the french champagne will be flowing tonight/already..
..for the big winners..eh..?”
Is this a problem maggie – being a big winner? He gambled on working – and won; you gambled on a rather ineffective lookout man and … well, the rest is history …
Silly fellow.
Vote:May 20th, 2010 at 5:16 pm
apologies for repeating this but look!!!!!!!!!
Philu can write without fullstops. Amazing!!!!!!!!!
# philu (8342) Says:
May 20th, 2010 at 4:50 pm
“..anyone been to the standard yet? bet thats hilarious
..”
you are correct..!..it is..!”..
“The latest Roy Morgan poll makes for grim reading for the government.
Confidence in government is now bouncing between net 25% and 30% positive.
That compares to 55% last October.
Put that another way: 1 in 8 Kiwis have gone from having a postive view of this government to a negative one in the past half year, and it’s showing up in the party’s numbers.
National plus ACT (the Right) now equals 51%.
That was 59% in October.
National on 48.5% at its lowest since February 2009.
The Left (Labour, Greens, Progressives) now stand at 43% up from 34.5% in October.
Labour is up 7.5% from its low this electoral cycle, although there will be disappointment that they’re not pick it up more.
The Greens are the big winners though.
As with every electoral cycle some stupid commentators have been saying the Greens might not get back in, buggering the Left.
Well, at 9% they look pretty solid.
The gap between the two sides has gone from 24.5% to 8%. In other words, if National has another period as bad as the past half year, it loses in 2011.
The next election has always been National’s to lose.
With mining, whaling, visionless economic policy, public service cuts ..
.. and a ‘tax switch’ that puts our money in the rich elite’s pockets, the Nats seem to be doing their damnest to do just that..”
‘hilarious’ enough for you there..?..dime..?
..mmm…????
phil(whoar.co.nz)
Vote:May 20th, 2010 at 5:20 pm
philu: The Left (Labour, Greens, Progressives) now stand at 43% up from 34.5% in October.
What Progressives? There will be no Progressive Party when Jimbo is gone.
Also considering your history in accurate projections, I’m gonna go out on a limb and predict a poll bounce for National after this budget.
philu: .. and a ‘tax switch’ that puts our money in the rich elite’s pockets, the Nats seem to be doing their damnest to do just that..”
But phil – its not YOUR money is it! It belongs to the people who have EARNED it. This is why you cannot get your head around why Tax Cuts favour those who earn more, they are the ones who pay the most in tax in the first place, and the reason you hate it is because that money funds your parasitic lifestyle. You are a great example of why welfare and socialism just doesnt work, there will always be people like YOU who are too lazy to work, and will suck the blood from the working man to fund yourself. Phil, you are a parasite on society.
Vote:May 20th, 2010 at 5:26 pm
Bugger. Upthread that should have read “Ah.. the psychology of envy, hard at work.”
Vote:May 20th, 2010 at 5:40 pm
Property effects here.
http://www.propertytalk.com/forum/showthread.php?t=25836
Vote:May 20th, 2010 at 6:18 pm
yea phil – still hilarious
Vote:May 20th, 2010 at 6:29 pm
Viking2 – Nope, phool is cutting and pasting the bit with acceptable punctuation and nearly good grammar ( well, good grammar except “disappointment that they’re not pick it up more.” WTF ? ).
Always bet on phool to lose.
Vote:May 20th, 2010 at 6:37 pm
fantastic that the depreciation loading has gone and QC’s treated like special partnerships. More work, bullshit and fees for me !!!!!
YAH !!!
Vote:May 20th, 2010 at 6:40 pm
Rat
Will that mean you can dump the Ranfurly and move on to Tui?
Vote:May 20th, 2010 at 6:41 pm
It was good to see the government allocate funding increases for healthcare and education – I just hope the extra funding is spent effectively and not swallowed up in bureaucracy.
Vote:May 20th, 2010 at 7:45 pm
It was good to see the government allocate funding increases for healthcare and education – I just hope the extra funding is spent effectively and not swallowed up in bureaucracy.
Dude!
Did you not notice what happened the last fifty times a government tried that?
Or do you think it is something unusual for governments to “invest in health and education”?!
You know, I hope so too. I really hope so. Maybe this time it will work. It’s like that episode of Blackadder: It will totally take health and education off guard and reform them, unlike the other fifty times throwing more money at them has been tried.
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May 20th, 2010 at 8:27 pm
Intelligent Budgeting on saving Money.
Now check this out from the big cheeze at KPMG. Apparently shifting spending around is saving money. errrr not where I come from Dearie.
KPMG chief executive Jan Dawson said:
It is good to see state sector stepping up to play its part as evidenced by the significant reduction in requests for new money and the ongoing focus on value for money. The last two Budgets have seen around $4 billion in savings through re-prioritisation.
Now a saving from re-prioritization???? yeh really. In my book that’s just shifting the deck chairs about. Saving means not spending or putting money in the bank.
No wonder we are stuffed. The head honcho of one of the biggest accounting firms thinks re-priortorisation is saving.
Vote:May 20th, 2010 at 8:38 pm
Fuck off Big Bruv
I live in Grafton now, not sure if thats Nikki Kaye or Rodney’s Electorate.
Its half price Discovery Savignon Blanc from Foodtown in Newmarket for me from now on..
Wind me up and I’ll get my Te Puke student mates to stab your neck
Vote:May 20th, 2010 at 9:18 pm
Dime:
I wouldn’t celebrate too soon. Won’t your activities with hookers be caught under the new “emissions” tax?
Vote:May 21st, 2010 at 12:38 am
Bill English and John Key gained a lot of respect from me today, not so much in the content of the budget (although I don’t think they could have done it better), but in the way it was delivered. They came across as real statesmen. I particularly enjoyed John Key’s speech. I just loved watching the opposition benchs squirming in their seats, they knew they had nowhere to go. The Labour party in their current form are irrelevant. If they don’t have a major reshuffle and get rid of Helen’s old gaurd, they are destined to remain in opposition for a very long time.
Vote:May 21st, 2010 at 12:42 am
Advice to the Labour party, Helen is a toxic bitch, the majority of New Zealanders ended up hating her, we threw you lot out because of her. Time to throw off her shackles and do your own thing.
Vote:May 21st, 2010 at 2:54 am
I think the Herald is right when it describes it as a rabbit in a hat type budget, if the GST increase does drive savings by reducing discretionary consumption all we are going to do is increase the deficit and put more eggs in the “hope we grow aggressively” basket, borrowing to fund tax cuts would not be a good outcome…
There is a real urgent need to delink GDP growth from energy use growth and I don’t see that answer here… Why is the government picking winners in R & D, giving out lollies, instead of tax breaks..? Where is the tax write off for home isulation, instead of hand outs..? Why isn’t tertiary funding based on having X courses that will develop a greener economy..? etc…
Vote:May 21st, 2010 at 8:00 am
The best budget in a generation. Next year I would like to see the thresholds increased say 5% uplift on each. Then we will well and truly have clear blue water between the National Party and the Labour Party on taxing and spending. The key thing is to keep the 40-50k area low and challenge the Labour Party . That is the area where elections are won and lost. I assume for people over 70-80k National’s support will be about 90%.
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