Budget

[Juju]

Surprised no one has said anything really apart from David saying he's cool with being targeted with property lock downs.

So? Comments? Ho hum?

I think I will work out to be about $10p/w better off. mint.

[blynk]

My household is about $40 better off.

Yeah, what was expected more or less. There were some suggestions that it was for the rich, labour went scaremongering, (potential national changed things) tax cuts for all.
GST was a give in.
No Depreciation was a give in.

I really don't care about tax cuts. I would rather the money go to the public services like Hospitals/Police/Teachers etc. (And thats to the front line staff, not just paper shufflers)

[A Corpse]

Not surprised they've opted to cut all tax rates. It was going to be political suicide to tax only the highest income bracket less and then pump up GST for everyone.

[Lightspeed]

I think this was cute:
http://www.stuff.co.nz/business/3707...s-for-the-rich

JK telling people not to be jealous because "the rich are crucial to the economy". Which I guess sums up what he thinks of the typical kiwi.

[PhX]

More money please, ill take what i can get. It is pretty easy to figure out that the government give-ith with one hand and take-ith with the other. Its all about how good you can fool your audience, they are like magicians.

[David]

It's not "being magicians"

What they've done is made a fundamental change to the way taxation is collected, gearing more taxation to be collected from consumption, repositioning the housing market to lessen it as an attractive investment option and giving New Zealanders more choice over where they spend their earnings.

The majority of people are better off across the board, even accepting the increase in GST. If people choose to consume less, save more and invest in things other than property, they are exceptionally well off here.

Taxing consumption is a good option, being able to give back tax cuts that cancel out what GST raise there is for the majority means it doesn't hit your pocket what so ever.

[David]

Originally Posted by blynk

really don't care about tax cuts. I would rather the money go to the public services like Hospitals/Police/Teachers etc. (And thats to the front line staff, not just paper shufflers)

That's the problem, unfortunately the level of bueraucracy and repeated work in these sectors means most money that is generated to increase their budgets simply ends up paying for more middle management.

I'm surprised there hasn't been a razor crew go through this yet.

[BoyWonder]

Trouble is, its difficult to talk job creation while making redundancies.

[pxpx]

My take.. rental property is still a very very attractive investment option. It's just that now you cant fudge Working for Families, which is fair enough too.

[SID|DensitY]

Originally Posted by pxpx

My take.. rental property is still a very very attractive investment option. It's just that now you cant fudge Working for Families, which is fair enough too.

This is pretty much it. now if they throw out the stupid ETS system that's coming in then all will be right with the world.

[FaTBoB]

I wish I was a little bit taller...
I wish I was a baller...
I wish I was a little bit taller y'all
I wish I was a baller

But I'm not and my income isn't discretional
I spend it all,
Tax back off the bat sounds fat
but GST claws it back
meanwhile $250mil a week
whats the interest on that?

I wish I was a banker, a baller
a player in the new world order

[fixed_truth]

Originally Posted by SID|DensitY

This is pretty much it. now if they throw out the stupid ETS system that's coming in then all will be right with the world.

The ETS issue has become a bit like the anti-smacking issue. It has bipartisan support but as usual the myopic general public can't see past 'cost=bad'. So if you don't like it, start supporting NZ's awesome right-wingers ACT or move to Australia.

As for the budget, it's not a comprehensive one. It's good for the wealthy and business, but English openly admits that it does nothing to close income gaps. Add in higher inflation etc and those without much are worse off. In fact it's pretty much a typical National looking after it's mates budget imo.

Cue outdated National rhetoric that putting business and the rich first is an effective way to help those at the bottom. Trickle down my asscrack.