If National wins ...

[fungus pudding]

FP, the handbrake is on right now. If we weren't exporting desiccated cow's milk and pine logs at higher prices than normal, we'd be in big trouble.

CGT should pull back house prices a bit, or at least slow the rate of increase. The Kiwibuild program will have a lot more of an effect in Auckland.

Is this the item you were offended by?

http://www.nbr.co.nz/article/labour-...earners-158236

See comments at the end of this National-friendly article. I think the top tax rate will only apply to earnings above $150,000 for each person. 36% sounds fair. And the tax rate for trusts is to be moved up under Labour, also fair. If the top 2% of income earners pay say 22% of all tax (and we'd need to check they don't mean just income tax) then surely they also have over 22% of the wealth too.

Mr Liu has gone quiet over the imaginary $100k wine issue, as has Mr Key.

I wasn't aware that I was offended by anything, but if I am it is your blinkered view that everything Labour does or says is fine, but everything National says or does is wrong. Neither party has a monopoly on good ideas, or bad. Your posts are never objective. Look at policies - not parties. I bet you continued to vote Labour through the eighties when they introduced market policies, because 'it was Labour, therefore good'. It is interesting to see current Labour appear to have learnt that the only advantage of high income tax is to appease the jealous, hence dropping to 36% rather than the previously proposed 39%. That's still a backward step, but not as damaging to the economy.
If you think CGT will lower house prices have a look at Rowling's spec tax. and what it did to prices. I've always been grateful to Rowling - a complete fool who gave me a wonderful start in the commercial world. However I am not against CGT provided it is properly designed. The devil will be in the detail.
And yes, as I have said before, Liu is a complete ****er.

[elZorro]

No he hasn't read this: Liu: $100k not just for wine That explains that then. What the article does not explain is Rick Barker's & David Cunliffe's memory lapse.

The Herald last week revealed Cunliffe wrote a letter for Liu's residency application, despite Cunliffe's previous denials, and also Mr Barker's dinner with Liu on the Yangtze River after Rick Barker said he hardly knew the guy. Does Labour breed pinocchios or something?

See what I mean? No spelling mistakes. So are we to now believe there were instead $100k in total of smaller anonymous donations from Mr. Liu? Sure.

[Harvey Specter]

See comments at the end of this National-friendly article. I think the top tax rate will only apply to earnings above $150,000 for each person. 36% sounds fair. And the tax rate for trusts is to be moved up under Labour, also fair. If the top 2% of income earners pay say 22% of all tax (and we'd need to check they don't mean just income tax) then surely they also have over 22% of the wealth too.

All this will do is get people to do a bit more structure, though it will be hard to get around tax avoidance arguments.

I hope you have all been sensible like me and have set up your investments in a company. My prediction is that for the rest of my lifetime, the company tax rate will be significantly less that the top marginal tax rate.

[blackcap]

Snow White, Superman and Pinocchio were walking together along the road when
they came across a beauty contest.

"I think that I will enter this" says
Snow White

Sometime later she comes back looking very pleased with
herself and proudly announced that she had won first prize.

The three
companions then continue on their way and sometime later come across a strongest
man competition.

"I'll have a crack at this says superman".

Sometime later superman reappears and without trying to appear to full
of himself tells his friends that he too has won his competition.

The
three then continue on there way and eventually come across a worlds biggest
liar competition.

"This one's for me" says Pinocchio and off he
goes.

Sometime later a clearly disconsolate Pinocchio re emerges and
somewhat plaintively asks his friends

"Who the hell is David Cunliffe?"

[craic]

The reality is that Chinese who are wealthy businessmen gained their position by a methodology that is totally foreign to most Judeo-Christian Europeans. We were constantly being told that to do business with the Chinese we must understand the Chinese and their methods and act accordingly. I have no doubt that many to the Left and to the Right play this game in varying degrees. Years ago ( late fifties) when I worked on liners, The wisest passengers, first class, Tipped their steward at their very first contact and received top service in return. " you scratch my back and I'll scratch yours" was started by the higher apes who still follow the practice. Trying to use it as a political weapon is pillow fighting.

[fungus pudding]

All this will do is get people to do a bit more structure, though it will be hard to get around tax avoidance arguments.

I hope you have all been sensible like me and have set up your investments in a company. My prediction is that for the rest of my lifetime, the company tax rate will be significantly less that the top marginal tax rate.

That's probably right. PIEs are good for those like me who can't be bothered with companies. I reckon National will announce a tax free threshold soon. I hope they do, cos I can hardly wait for EZ and Belgarion to tell us what is wrong with that as a policy.

[777]

The trouble with a tax free threshold is it would probably mean having to get everyone to complete a tax return each year. They are continually down sizing the IRD at present.

[Harvey Specter]

The trouble with a tax free threshold is it would probably mean having to get everyone to complete a tax return each year. They are continually down sizing the IRD at present.

The system currently handles multiple rates so a 0 rate shouldn't be a major issue. The real issue is that you think it benefits low income earners but they pay no net income tax due to WFF etc.

If/When National does announce tax cuts, I expect it to me minor drops across the board and/or increasing the threasholds (eg. Reduce bottom rate to 10% and increase the range it applies to, no change to 33% rate but up the threshold from $70k to $80 or $90k.)

[Sgt Pepper]

The system currently handles multiple rates so a 0 rate shouldn't be a major issue. The real issue is that you think it benefits low income earners but they pay no net income tax due to WFF etc.

If/When National does announce tax cuts, I expect it to me minor drops across the board and/or increasing the threasholds (eg. Reduce bottom rate to 10% and increase the range it applies to, no change to 33% rate but up the threshold from $70k to $80 or $90k.)

Tax cuts, yes indeed I thought our esteemed leader promised a second tranche of tax cuts, and so the middle to upper salary earners wait and wait and wait.

[slimwin]

He sai they'd look at it if the books remained good.