$6Billion of National’s Tax cuts will go to the richest 5% – how does that fix the cost of living crisis?
The fundamental problem for the Right when it comes to tax cuts, is that once they take the top tax rate off, it’s pure gravy.
Under National, your average tax payer will get around $800 per year.
Chris Luxon will get $18 000.
Poor people are poor, they aren’t stupid!
They see the $800 they get and the $18000 Chris gets and they say, ‘Fuck off’.
The CTU has been roused out of their slumber by doing some actual economic work instead of denouncing protests (I know – a Union denouncing protests – don’t even start me) and their numbers on where National’s tax cuts are going are devastating to National.
$6Billion in National’s tax cuts will go to the the richest 5% while the vast majority of workers will get $2 per week.
How the fuck does $6billion to the richest 5% help anyone with the cost of living crisis?
All National want to do is protect their rich mates by giving them billions in tax cuts while the rest of us can barely rub two coins together for a side order of fries.
This isn’t an economic plan, it’s economic sadism!
Billions to the richest won’t make NZ a better place – why should the 5% richest get huge tax cuts that will come at the expense of public education, public health and public housing?
Chris can flip as many burgers as he likes to pretend that he’s down with the bottom feeders the question is are you honestly stupid enough as a voter to give him and his rich mates billions in tax cuts?
I appreciate Covid has hurt us, and I appreciate that many former Labour voting males have walked away in disgust at the woke madness, but don’t pretend that voting National is a solution to being pissed off with Labour because an ACT/National Government will only make inequality immeasurably worse in this country.
Don’t buy Chris’s de-unionised Happy Meal, it’s poison.
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It all started here…
“Mr Key’s legacy is sweetest for property owners, who saw the values of their homes rise $NZ400 billion to almost $NZ1 trillion on his watch. Meanwhile, the cost of servicing their mortgages as a percentage of disposable incomes fell almost 40 percent. Renters and aspiring homeowners have not benefited from the Key era. They have gone backwards. The poorest 40 percent of the population had their housing costs rise substantially under Mr Key, and faster than than their incomes, particularly if they are single, on benefits, or have insecure and poorly-paid work.
Finance Minister Bill English.Mr Key has Bill English to thank for much of the economy’s success, Bernard Hickey says. Photo: RNZ / Cole Eastham-Farrelly
The right-wing think tank, the New Zealand Initiative, described that legacy best in a report in October on inequality.
“There is a massive inequality concern that is rightly troubling many New Zealanders: housing. In short, New Zealand’s “inequality crisis” is really a housing crisis, wrote the NZ Initiative’s Bryce Wilkinson and Jenesa Jeram. “While incomes have risen for high and low earners, the rising cost of housing especially hits the poor.”
Mr English has been the loudest voice in the government in recent years about how fast-rising housing costs drive child poverty and increase the government’s costs. If he becomes Prime Minister for any length of time, he will have to deal with his predecessor’s $NZ400 billion legacy of higher house values and housing costs. Somehow, he will have to restart growth in output per hour to create a real economic legacy”
Actually Bert, it began happening very obviously during the Helen Clark years. I know as I was active on the topic back then and i couldnt believe that with every election, she would keep ignoring the need for reform of incentives to buy and rent houses and CGT or similar.
I know that she was aware of it and those who were in the party who wanted change and could see what was coming, settled on the view that she was too afraid of the backlash and its effect on polling.
At around 2006 there was a study? survey? done that showed that the presence of speculators in the housing market was adding 35% to the cost of houses and that it was pricing lower income families out of the market. John Key came along and it just continued to worsen.
So to be fair to the Nats this issue came into being in the Clark years (possibly earlier but I wasnt in the country then so cant say for certain). Suffuce to say it got really noticeable under the Clark govt.
It actually started in the Shipley era, I know as I was present through those years and it was very noticeable through her short reign. So trying to be fair to the Nats may suit your narrative, I don’t know, but the Key/English era was appalling, and as mentioned English even admitted as such.
Yes Bert, the Natz never added to the social housing stock for nearly 30 years. Then during Key’s tenure the value of rural and urban land exploded. He then invited the property speculators (in cahoots with banks) to “make hay” while he was PM. Thats going to be his legacy.
Dear oh dear oh dear, National.
Our health system has a social contract to provide first world health care to the people of NZ. It has totally reneged on that contract, pure and simple because of decades of underfunding in no small part because of tax cuts. We have people dying of basic treatable illnesses or suffering unnecessarily from out of date medications regularly because of health system is so broken and so underfunded. This has gone on far too long to be even vaguely tolerable.
So tell me Luxon, and your cronies in National, where is the mass infusion of exrtra billions of dollars required annually to provide the health system our citizens are entitled to when you are proposing cutting the governments income, AGAIN, to so unnecessarily fund tax cuts for you and your rich prick mates, AGAIN? Where?
No wonder Nationals vote is as low as it is! The brains trust of National are as thick as Labour’s!
Thank you Xray for acknowledging it.
Our Health system was $2 billion underfunded in 2015/16 and our medicines funding is still 1.8 billion a year behind the oecd AVERAGE FOR OOUNTRIES OF OUR SIZE.
So those 6 billion in tax cuts will definitely hurt the health budget no matter what Luxflake says.
I will agree National underspent but unfortunately I have spent too much time in hospital over the last 10 years not to see things have got worse over the years . Covid was a curve ball but that’s is why some people get a big tax paid paycheque to sort out problems and keep the wheels turning . This in no way is a cracked at the hospital staff who should all get medals but in Chch all they get is a hefty parking bill due to volunteering to work overtime. Labour proudly announced a 10 Billion excess of tax income but will not pay rest homes more as their share of the medical bill so they have to close which in turn means many old people cannot be discharged from hospital adding to the overcrowding.
I get very tired of the continuous shouting about Luxon get $18000 extra when he gave up a job paying millions for his current job . The tax bracket creep has occurred because no correction has been made since 2010 so someone on the living wage is nearly in the higher tax bracket.
But, But, But – didn’t Nicola Willis say the Nats would be donating to worthy causes?
Yes, we are honestly stupid enough to vote for tax cuts for the rich. Aspirational voters empathize with the rich because one day they to will be rich themselves. The working class vote on culture issues not economics. Woke bashing, maybe some disguised racism and picking on the poor this will be NActional strategy for working class votes.
Do the right wing – globally – actually have any other policy but tax cuts for themselves & their mates (I mean, apart from making people scared and angry)?
A tax cut across the board is required just to adjust for the bracket creep created by inflation.
That said, I think Luxon is a fool to even mention it prior to an election. He should just implement it in his first budget. The same goes for a whole list of slash & burn policies that are desperately needed to put the Wellington bureaucrats back in their place. He should just promise the electorate the world then when elected, do exactly as he fancies. When the media inevitably complains that these weren’t things campaigned on, he can just point toward Labour, He Puapua, 3 Waters, Unelected Maori wards and all their other sins and ask the ‘journalists’ where they were 3 years ago.
History shows that Key campaigned on not rising GST Andrew and then he did.
National can never ever be a trusted party, hell the Bridges/Jamie Lee Ross saga confirmed that and their president Michelle Boag was hideous, often caught out lying.
Easy to overlook now Bert as they have all had their orders to not ever rock the boat and always appear professional. But of course you are correct, they were the biggest bunch of lying scumbags back then. Although JA is now giving them a run for their money.
Unfortunately the working class of 30 years ago still included many tradesmen however they have now become middle class businessmen. They have moved above their station to the natz. Even my mate of that era who was a plumber cleaning shit from pipes became a boss and said ” I’ll still drink with you in the public bar”. I dont think its so much class issues driving the polls. Its misogynist and grumpy men (and nasty women) who hate a young successful prime minister. The “HATE JACINDER” lunatics encouraged the right wing/media/press have taken over talkback radio. The right wing/NATZACT are nasty and dirty as we have seen since Jacinda got into government. We’ll see how the media/press respond if the NATZACT get into power.