Forum Archive Index - September 2002

["Mr Nua" <mr_nua@hotmail.com>]

Agreed that this is not a tax forum here. And I do admit that Oz has higer
tax rates.. but two fools arguing over which one is smarter are
still...well, fools.

I also suggest that anyone who wants to compare our state and tax rates to
Sweden, carefully read Gareth Morgans article "To Sweden in a day"




http://www.infometrics.co.nz/infom/forum/archive/govt/010509.html

This is a snippet.

"So in terms of tax rates, in order to fund the welfare state ambitions of a
true social democrat (a state like Sweden), would require the average
personal income tax rate of 22% to rise to 30%, or the GST rate to rise from
12.5% to 21%.

Of course one might expect this revenue to come solely from the "rich" as
they after all, have been getting away with murder for yonks. So let's adopt
the common definition of "rich" as those earning over $60,000, these days
facing a lowly 39% top tax rate. You can get an idea of how much money there
is to be milked from this cohort from the experience gleaned from raising
the top tax rate from 33 to 39%. That reaped the princely sum of $450m p.a.
If these folks were to solely fully fund the $6.3bn p.a. leap to the
welfarist nirvana we'd need then to raise the top rate at least to 100% -
even for a diehard socialist, perhaps a little harsh."



Nua



----- Original Message -----
From: "Malcolm Cameron" <malharcameron@hotmail.com>
To: <sharechat@sharechat.co.nz>
Sent: Friday, September 06, 2002 3:46 PM
Subject: Re: [sharechat] oh,,,,dear.. more bad news


> TO all of you that think your taxes are to high at 39cents in dollar after
> $60000 please write to Doctor Cullen and ask him to tax you at Australian
> rates instead. I bet he will be very pleased to oblige. You are paying
some
> of the lowest income tax rates in the world. Check the Swedish rates and
GST
> is 37%
> Malcolm
>
>
> >From: "Mr Nua" <mr_nua@hotmail.com>
> >Reply-To: sharechat@sharechat.co.nz
> >To: <sharechat@sharechat.co.nz>
> >Subject: Re: [sharechat] oh,,,,dear.. more bad news
> >Date: Fri, 6 Sep 2002 09:40:17 +1200
> >
> >Hi Hoop,
> >
> >I agree 100% with your "oh dear post".
> >
> >Unfortunately, due to the nature of democracy - politicians retain power
by
> >pleasing the majority of the people - a very different motive than
creating
> >a wealthy economy. Thus, by the nature of our demographics the majority
> >does not include Eric Watson, nor - I suspect does it include most of the
> >people on this forum.
> >
> >Rather than a lower tax for business people like Eric, I suspect that
this
> >government is more likely to "solve" the problem by creating some sort of
> >"leaving tax". This is far more likely to please the masses.
> >
> >How do you change the direction of a country when the majority would
rather
> >see higher taxes for the "rich" because thay are not in that group?
> >
> >A difficult one, which I do not have the answer to.
> >
> >
> >
> >My other comment is toward your "Short term vs Long term" post.
> >
> >Without wanting to open the TA vs Fundy debate. The comment that "one
> >mistake in STI and you are dead" is simply incorrect. You can lose the
lot
> >in one mistake in STI or LTI.
> >
> >However, there is NO chance of losing the lot if you do either approach
> >correctly. A STI without a strategy (which you would have to be to lose
it
> >all on one mistake) is not a Short term investor, they are a punter.
> >
> >I would go so far as to say that there is less chance of losing the lot
in
> >STI than LTI, because in an Enron type situation the STI will sell out
> >before the LTI (who may never).
> >
> >I believe that the biggest problem facing new STI's with a strategy is
the
> >"pecked to death by a thousand ducks" problem where capital is slowly
eaten
> >away by small losses and brokerage.
> >
> >Anyway, food for thought. Good to see the level of posting up.
> >
> >Nua
> >   ----- Original Message -----
> >   From: Richard Hooper
> >   To: sharechat@sharechat.co.nz
> >   Sent: Friday, September 06, 2002 12:43 AM
> >   Subject: [sharechat] oh,,,,dear.. more bad news
> >
> >
> >   The problem with a centre left Govt in New Zealand is that they turn a
> >deaf ear to the rich,to please the poor non-productive masses that will
> >vote for them in the next
>
>election........................Note....................nonproductive......
...
> >
> >   Since the personal tax increase from 33% to 39% it seems we as a
country
> >has lost not only tax revenue but the our most productive personnal.
> >
> >   Eric Watston it seems, is another to go overseas  to join to mass
> >migration of to rich NZers to Europe......We get nonskilled low wage type
> >people in exchange for high skilled management ultra rich leaving....
> >
> >   Labour Govt please wake up ...........since you have raised the taxes
> >from 33-39% you have created our best  productive personal to leave our
> >shores and have not increased any extra revenue tax in this area.
> >
> >   If you are listening ...please .....please .... for the sake of our
> >economy.
> >
> >   You have 2 years to recify this terrible sitiuation ..The last year
> >(2005) you can please the welfare ..dole ..medical ...acc...benefit
people
> >which makes up for 50% of the New Zealand  voters...........
> >
> >   The bad news is the last statement .......too many people on the
> >benefit........
> >
> >   What a silly situation .........the NZ Govt  forces the rich
productive
> >people to reside overseas by taxing the hell out of them ....welcomes the
> >poor to come to NZ.......or create the situation for the poor to stay in
NZ
> >thru giving them benefits............
> >
> >   Overall Result........Lower Growth rate with our trading
> >partners.......There is nothing we can do as a a nation until the Govt
> >changes its economic policies. .........If  we the people want to lift
our
> >country up into a rich nattion status we have to protest .....something
> >which NZer's seem to have forgotten to do
> >   ( due to our laid back attitude)
> >
> >
> >   investors are thin on the ground and decreasing.
> >
> >   The future lies with us
> >
> >   Hoop
> >
> >   Disc:-    no political motive ....left /right   up/down .... just
using
> >common sense.
> >
> >
>
>
>
>
> M H & M M Cameron
> 55 Czarnecki Street
> Camira 4300
> Brisbane
> Queensland
> 07 3389 0515
>
>
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