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2 Comments

  1. What we don’t need is for the government to tax the working age population to generate an additional surplus of $500m to put into the NZ Super fund, especially while there are horrendous social deficits. The working age population is paying for pensions twice-the babyboomers’ pensions, and contributing to their own- all the time suffering today.
    The 30% GDP ceiling is an artifact of accounting definitions. The assets in the NZSF does not count as an offset to gross debt- puting money in is not government spending so appears costless now- but when it is spent from the fund it will count as government spending– further limiting what is left for redistribution after paying for an ageing population