Concerning report

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Post Options Post Options   Likes (0) Likes(0)   Quote v8-coupe Quote  Post ReplyReply Direct Link To This Post Posted: 24 Apr 2014 at 12:53pm
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Titanium
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Originally posted by eynon eynon wrote:

above ground monorails are not a bad option.


+1
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Post Options Post Options   Likes (0) Likes(0)   Quote v8-coupe Quote  Post ReplyReply Direct Link To This Post Posted: 24 Apr 2014 at 1:11pm
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Titanium
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Originally posted by Barrie Barrie wrote:

V8
Isnt that the fairest way, tax the spending?
Only problem is that we are also taxed on the interest earned on savings.
Roger Douglas wanted a flat rate tax of (from memory) 5% with the rest coming from the tax on spending. Some think that the rich can hide it in their businesses but it would simply not be worth their while as if they were caught, the IRD would be all over them for many years to come. Most that I know do things as legally as they can, yes they employ an accountant to save them all that they can but lefts face it, say they save the GST on a boat that they paid $100000 for, thats $15000. to have the IRD camped on your door for the next 15 years or more simply would not be worth the hassle.
Some will try it for real just as some on wages will do "cashys".
A good mate of mine that is straight was audited and had to show where the money came from for every new(ish) artical of clothing he had, he retired at the end of March and is rapt that he will no longer have to keep every receipt for everything he buys.


Yep a mate of mine. Very honest and hard working was audited three times. He thought it may have been a disgruntled customer being a pest. Sometimes he is to honest for his own good and tells customers what they do not want to hear. Any how. Same thing. They wanted to know if he took toilet paper/coffee/soap/paper/pens et al home for private use had had to prove he did not. Not many can say they do not.
Yep again. A tax on consumption and financial transactions would/should be the fair way to go.
Many wealthy do hide their true incomes in Trusts and other legal yet morally dubious accounting schemes. I know for a fact of some who put everything they earn into their trust and only draw the bare minimum they need then declare this as their income. As this declared personal income is so low they are entitled to a community services card. I suspect this sort of thing is more wide spread than we would like to believe. I also know of one business owner that played the work scheme game and never paid any full wages for most of his staff as us the taxpayer via the Government topped up the rest. He was and still is extremely wealthy.
I agree a flat tax, first 25k tax free and a financial/consumption tax would be the fair way to go. However I am sure human nature being what it is, some would find a way of avoiding their obligations under that scheme as well.
Always a pleasure.
Take care and have a good weekend.
Cheers
Graham
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Post Options Post Options   Likes (0) Likes(0)   Quote pjc Quote  Post ReplyReply Direct Link To This Post Posted: 24 Apr 2014 at 1:16pm
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Titanium
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Originally posted by v8-coupe v8-coupe wrote:

Originally posted by eynon eynon wrote:

above ground monorails are not a bad option.


+1
have rail under ground,look at sydney it works,trams work in melbourne.in auckland we should go under ground,give unemployed/solo mums etc a pick and shovel.unemployment what unemployment?
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Originally posted by cirrus cirrus wrote:

The banks here say the report is nonsense . Well they would say that .What else could they say. Tell their customers they are gambling with their deposits . Dont think so.They are doing very well out of cheep credit and the housing boom. Banks have nothing to lose. Their customers have.  I am not a financial expert ,but dosent look good to me.

Nationl debt has exploded. How can that make for a good economy . Now credit is begining to tighten. Interest rate rise expected tomorrow. 

Migration continues to hit new highs. More foreign cash pushing Kiwis out of the housing  market forever.

Increased interest rates will cause the dollar to rise. Exporters will find it harder .

And they say it is all good.? 

Not sure what economic school these bankers went to.

Remember Iceland. Extreme economic confidence before the crash . Complacency spread from bank head quarters to regulators ,central bank,government and the public ,all of whom were happy to share in financial boom times.

No one saw that Landsbanki sat on a time bomb. Especially when they had triple A credit rating.

The 2007 storm clouds darkened ,credit tightened. It was all over and no one saw it coming.

So what are they doing here. Like Iceland ,nothing. Spiraling government and national debt. Out of control banks. Any Government with a grip on things would rein in debt, deal with the housing bubble before it got worse. They have not done that.

So if and when the bubble bursts ,and it surely must at some point,this year ,next year ,year after ,who knows, the crash will be much greater here & world wide than 2007 as the debt is so much higher, unprecedented, and there is much further to fall next time.





Do not forget that banks do not actually have the money to give away. It is all ones and zeros generated on a computer some where at will. "Fractional reserve" I believe it is called. The truth is we are playing with fresh air and being charged interest on that fresh air. Banks are making a killing. It is this fresh air generation that drives this credit stupidity.
There will only be two main winners out of these interest rate rises. The banks themselves and overseas depositors/money traders.
Yet as we continue to increase our downhill speed our elected politicians and so called highly educated betters tell us all is rosy and New Zealand is doing well/better than most others countries. Well sorry folks. I for one do not believe it. Our overseas debt is increasing weekly. We have sold more assets which means less internal revenue and more money exiting the country. We now have even less means of generating money to pay off debt.
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Post Options Post Options   Likes (0) Likes(0)   Quote Barrie Quote  Post ReplyReply Direct Link To This Post Posted: 24 Apr 2014 at 3:02pm
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Titanium
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maybe the best way is to make trusts a thing of the past?

I do not have a trust but should have as  if I did and had problems with needing to move into a home, I will lose everything I have worked for and gone with out for. At that stage I would wish I had bought a large boat and gone of on overseas holidays every year.
A trust stops having to use your money/assets to look after you.
If it were a level playing field, I would have no problem but as I have saved instead of spending, I will lose it.
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