How the rich like to claim they make money vs how they actually make money

1. Merciless exploitation ……, luck, and quite often ‘old money’ handed down the generations providing a greater sense of entitlement through each notch

   • Yes, although I believe that such inherited privilege would come under “luck”.

2. Case in point;

   1. John Key

   Grew up in a State house.

   Had a free tertiary education.

   Now selling state houses.

   Part of the neo-liberal system that implemented user-pays in tertiary education.

   2. Paula Bennett

   1. Benefitted from the DPB

   2. Benefitted from the Training Incentive Allowance

   3. Bought a house through State assistance

   Now forcing women off DPB and into the workforce (even though there are no jobs)

   Now ditched the Training Incentive allowance.

   Now her government has made it harder for everyone to buy their own home.

   That is the government of hypocrites; by the hypocrites; for the hypocrites.

   • ‘It now takes 57.0% of one median income to pay the mortgage on a median priced house purchased in January, down from December’s 60.7%. A typical buyer is assumed to be in the 30-34 age group.

     This index was 53.8% a year ago and 54.3% five years ago. The affordability index reached its highest point of 83.4% in March 2008.”

     http://www.interest.co.nz/property/home-loan-affordability

     • Which is why we need a capital gains tax, a ban on non-residents buying property, and a crash house-building programme.

       Otherwise we’ll never sort out this mess.

       Key is not part of the solution and his band-aid policies didn’t achieve anything except make it harder for first home owners to buy their house.

       The “free market” has failed spectacularly.

       • No, Theo, the free market works very well indeed, until idiot politicians come along and restrict demand (e.g. the RMA).

         “Which is why we need a capital gains tax, a ban on non-residents buying property, and a crash house-building programme.”

         The latter is already happening, the former wouldn’t achieve anything. Australia has a CGT and their house prices have gone through the roof. House prices are a function of supply and demand, and housing is more affordable now than it was in 2008.

     • IV, Are you sure you don’t mean it takes 57% of the AVERAGE income, as the average income is far and away much higher than the median.The median income represents what a far greater number of people earn, the average is much higher and the great difference between the two highlights how so few have so much while so many have so little.
       I think you were trying to skew the truth a bit there

       • 1. These are not my words…they were a direct quote, which is why they are in ” ” ‘s.

         2. Whether median or average is used is irrelevant, providing the measurement is consistent, which it is.

   • Yet more FMBS.

     • FMBS = Free Market Bull Shit?

3. Don’t forget nepotism, cronyism and good old fashioned arse kissing…. YUK!

4. Oh I think anyone who’s read enough of Frank’s writing will know what it stands for.

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