John Keys tax rate 2.8%

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Post Options Post Options   Likes (1) Likes(1)   Quote Tagit Quote  Post ReplyReply Direct Link To This Post Posted: 28 Aug 2014 at 10:10pm
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That is what the Nats would like you to think John. The question I haven't answered for myself yet is - what did they actually do that was so good? As far as I can work out our 'survival' was mostly linked to a Chinese Free Trade Agreement that was a result of the previous Labour governments efforts. Add to that a whole bunch of surpluses run under the previous Labour government and I get the feeling that our current economy doesn't really owe as much to Nationals management as it does to the previous governments. What have I missed?
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Post Options Post Options   Likes (1) Likes(1)   Quote Olfart Quote  Post ReplyReply Direct Link To This Post Posted: 28 Aug 2014 at 10:15pm
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Same feeling here Tagit.  Lots of smoke and mirrors being put about I'd say....
Semper in excreta sumus, solum profundum variat....



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Agree Dave that is what they would like us to think. I should have phrased that -at least we got through the Crisis. Have always thought that a good economy is result of hard working   innovative people producing wealth for themselves and the nation,providing a govt dosent put too many barriers in the way .

So much we have not been told about the GFC. Maybe the Federal reserve played a part. Recently released info shows that while Kevin Rudd was saying Australian banks were rock solid,the feds secretly bailed out Westpac and N.A.B (national Australian bank) as they were on the brink of collapse.
N.A.B to the tune of 4.5 billion & westpac 1.9 billion. As they are parent banks to N.Z banks  the Federal reserve bailout may well have saved us as well. Would have looked very different if N.Z banks had collapsed ,and going by the bail outs that could easily have happened.



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A wise man once said 'never debate with a fool as people might not know the difference', so i have decided my vote gos to the most worthy, the next random gurnard i catch. Thumbs Up
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Originally posted by cirrus cirrus wrote:

Agree Dave that is what they would like us to think. I should have phrased that -at least we got through the Crisis. Have always thought that a good economy is result of hard working   innovative people producing wealth for themselves and the nation,providing a govt dosent put too many barriers in the way .

So much we have not been told about the GFC. Maybe the Federal reserve played a part. Recently released info shows that while Kevin Rudd was saying Australian banks were rock solid,the feds secretly bailed out Westpac and National banks of australia as they were on the brink of collapse.
National bank to the tune of 4.5 billion & westpac 1.9 billion. As they are parent banks to N.Z banks  the Federal reserve bailout may well have saved us as well. Would have looked very different if N.Z banks had collapsed ,and going by the bail outs that could easily have happened.



what a load of BS 

I often watch conspiracy theorys on youtube...  its really funny pepole think that way...LOL
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Post Options Post Options   Likes (0) Likes(0)   Quote cirrus Quote  Post ReplyReply Direct Link To This Post Posted: 31 Aug 2014 at 6:07pm
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Originally posted by part-timer part-timer wrote:

Originally posted by cirrus cirrus wrote:

Agree Dave that is what they would like us to think. I should have phrased that -at least we got through the Crisis. Have always thought that a good economy is result of hard working   innovative people producing wealth for themselves and the nation,providing a govt dosent put too many barriers in the way .

So much we have not been told about the GFC. Maybe the Federal reserve played a part. Recently released info shows that while Kevin Rudd was saying Australian banks were rock solid,the feds secretly bailed out Westpac and National banks of australia as they were on the brink of collapse.
National bank to the tune of 4.5 billion & westpac 1.9 billion. As they are parent banks to N.Z banks  the Federal reserve bailout may well have saved us as well. Would have looked very different if N.Z banks had collapsed ,and going by the bail outs that could easily have happened.



what a load of BS 

I often watch conspiracy theorys on youtube...  its really funny pepole think that way...LOL


BS or conspiracy theory. Who will ever really know. But the above was documented on Money morning.com.au ,the independant ,Bloomberg.com, The Age and other publications.

All was revealed when the Dodd-Frank wall street reform & consumer protection act was passed ,forcing the federal reserve to reveal bailouts and emergency loans during the GFC. Bloomberg had to take court action to get the feds to reveal the transactions despite the act. This bloomberg spread sheet  can be found online---all 21,000 secret  transactions. ,including those to Australia. Additionally the Reserve bank of Australia received 53 billion in 10 separate transactions during this period. Could hardly be made public or highlighted after it was   said Australian banks were the strongest in the world. Interesting that these banks all received credit rating downgrades in 2011.

The crisis was no doubt far bigger than anyone was ever told.  21000 emergency loans (bailouts) were made to Banks & companies world wide--among them GM .Toyota,and to banks through U.K ,Europe,Sth Korea ,Japan and others.
In the U.S alone 166 banks collapsed during 2008 & 2009,requiring bailouts. And with  credit frozen and in the middle of a housing boom it is surprising N.Z banks got through this unscathed when so many banks and companies world wide were badly effected.

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Post Options Post Options   Likes (0) Likes(0)   Quote graham 99 Quote  Post ReplyReply Direct Link To This Post Posted: 31 Aug 2014 at 8:25pm
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Originally posted by cirrus cirrus wrote:

Despite the many imperfections of National they did get us through the global financial crisis.

Recent statement by Ben Bernanke said September & October 2008 was the worst financial crisis in global history,even surpassing the great depression.


if that was true, why did the banks that survived make there biggest profit in history
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Post Options Post Options   Likes (0) Likes(0)   Quote cirrus Quote  Post ReplyReply Direct Link To This Post Posted: 31 Aug 2014 at 9:16pm
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Banks are making record profits because they have access to vast amounts of printed money at low rates. Also able to write off debt.

That is what is fueling our housing boom. The lower the interest ,the more people can borrow and the more they can and do pay for a house,hence rising prices. The banks are doing very well from this.

For the first time in history all the central banks are printing vast amounts of money at the same time. In europe ,Japan ,U.S  U.K. They are all trying to debase their currencies. This must eventually   result in inflation,currency turmoil and higher interest rates. The whole world is floating on a sea of liquidity. This has never happened before. Governments also are spending huge amounts of money, because it is cheep to borrow,debt is skyrocketing.

Who knows how or where this will end,but cannot see it ending well
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Post Options Post Options   Likes (0) Likes(0)   Quote fish i Quote  Post ReplyReply Direct Link To This Post Posted: 04 Sep 2014 at 6:17pm
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Originally posted by Capt Asparagus Capt Asparagus wrote:

The same anti wealthy bs propaganda spewed out by the mana party. Why would anyone give any credit to anything Marxists would say, after the millions of dead they have left across the world in any state they ever achieved power in. You may not like Slater, but if he were in power, at least you'd not be put up in front of a sunny wall at dawn one day for a quiet ciggie and a short banging noise....Minto, I would almost guarantee you , would.
For your own good and in the interests of fairness and the nation of course, just as every Marxist in the last century has done
Tell me, if hone ever became p.m., would he refuse his salary as Key does? Fat chance.


just a bump for comedic entertainment purposes.
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Originally posted by stonefish stonefish wrote:

John Key donates a large proportion of his salary to charity and in the past has openly recognised that he doesn't need the money or that he didn't get into politics for the money. Lots of info on the web about it if you want to go looking.


Here is the rub. After donating does he then claim some back, use it as a write off, or is he a genuine philanthropist?
On another note I feel we should all pay 25% (example only) on any money earned or we should all pay nothing. There should be no write offs or fancy creative accounting schemes. We are all either in or we are all out. If we are all in, then we should all pay the same percentage in tax regardless of income. After all it worked that way with the tax cuts. You did not see any of the really wealthy use creative accounting to minimize their tax cut returns. They, like the rest of us they took the lot so why can it not work the other way around?
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Post Options Post Options   Likes (0) Likes(0)   Quote v8-coupe Quote  Post ReplyReply Direct Link To This Post Posted: 10 Sep 2014 at 2:09pm
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Originally posted by smudge smudge wrote:

Originally posted by Grunta Grunta wrote:

Originally posted by Muppet Muppet wrote:

Grunta who and what caused the GFC mess in the first place and who had to wear it?
What's your point Muppet??  - my point is getting through the mess and that was all.
Well I reckon John Key caused the entire GFC Big smile


Well maybe not John Key, but those of his ilk definitely did. Not to mention in his past as a money trader he and his trading brothers nearly brought New Zealand to the brink of bankruptcy with their currency speculation.
I find it hard to believe anyone involved in negotiating the TPPA is working in New Zealand's long term interests.
I say this because no political party nor the media has given this agreement the proper scrutiny and daylight it deserves and at this stage National are the ones driving it.
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Originally posted by Tagit Tagit wrote:

That is what the Nats would like you to think John. The question I haven't answered for myself yet is - what did they actually do that was so good? As far as I can work out our 'survival' was mostly linked to a Chinese Free Trade Agreement that was a result of the previous Labour governments efforts. Add to that a whole bunch of surpluses run under the previous Labour government and I get the feeling that our current economy doesn't really owe as much to Nationals management as it does to the previous governments. What have I missed?


You missed nothing because that is exactly what they have done. Nothing. They have done nothing to spur economic growth. They have done nothing to pay of their mounting debt. In fact they have made the economy worse and once the Ch/Ch rebuild starts to slow in conjunction with dairy exports our economy will tank horribly. They have delivered a paper surplus which is an accounting joke in itself as they are borrowing millions every week to cover the tax shortfall they themselves created. Bill English is like a Possum in the headlights when asked real questions. In fact he was cornered and basically said National have no ideas and never have. Circumstances beyond their control have made them look good plus manipulation of figures/data et al.
I have no allegiance to any party. However I am starting to get heartily sick of National taking credit for nothing and continually telling us things are ok when they are not. It really is that simple.
Oh and we have the TPPA to worry about plus the chance we will end up with a Treaty based constitution all under Nationals watch. Both of those have been kept from public view and both will have huge impacts on our economy.
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Post Options Post Options   Likes (0) Likes(0)   Quote pjc Quote  Post ReplyReply Direct Link To This Post Posted: 10 Sep 2014 at 4:09pm
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If national or other party for that matter,to get this country back on track is not to dangle a tax cut but put taxes up.
reason,We want hospitals doctors nurses etc but when we have tax cuts what gets hit?it is our services.Schools,inferior teaches hired lately,most from what i have seen cannot understand english that well but are teaching our kids.School closures rise in fees.
we can reduce taxes we can sell off some assets no problem.Well that is a problem,the old days telegragh/phone dept,they would come out after hours and fix the fault,now days under chorus,we knock off at 5.00 or do you have a job number(hell your across the road fixing theirs,hello)vector in last outage,we have repaired transformer but there will be no street lights for 3 days and you may have short supply on hot water.
much rather pay a bit more and have the services.
financial institutes that went broke and people lost money,tough why should the govt bail you out with my money?you took the risk for a extra 2%,banks may offer 5% but money safe.
enough of a rant!go on shoot me down now.
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Post Options Post Options   Likes (0) Likes(0)   Quote FizFisho Quote  Post ReplyReply Direct Link To This Post Posted: 17 Sep 2014 at 1:30pm
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Ive been a national guy my whole life, well Ive become a greeny lately but not by politics.

I have one question, who will pop this housing affordability market bubble?
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Originally posted by onthedrop onthedrop wrote:


Man that JK's a sexy binch

"MANA Movement Economic Justice spokesperson John Minto is calling for a radical overhaul of New Zealand’s taxation system with calculations showing that a minimum wage worker pays a ten times higher tax rate than the Prime Minister.

Minimum wage worker 28% tax

Prime Minister 2.8% tax

The minimum wage worker on 40 hours per week earns $29,640 and pays $4,207 in income tax and $4,149.60 in GST giving a total tax of $8,356.60 or 28% of income.

On the other hand the Prime Minister earns $428,000 from his PM’s salary along with this year’s $5,000,000 increase in his wealth (according to NBR’s rich list) which gives him a total income of $5,428,000. On this total income he pays just $132,160 in income tax and approximately $21,400 in GST giving a total tax of $153,560 or 2.8% of income.

This is a national embarrassment. Those least able to pay are under a heavy tax burden while the super-rich pay peanuts.

The National government and its attack bloggers refer to the working poor as scum, bludgers and ferals but it’s clear the real problem is with the top 1% of income earners who get all the benefits of taxpayer funded facilities and services but don’t pull their weight paying for them.

Cleaners, fast-food workers, hospitality workers and security guards are all heavily subsidising the lifestyles of the superrich.

These figures show we need an overhaul of our tax system so the Prime Minister and his rich-list colleagues pay their fair share."

Looking at your numbers John actually pays 20 times as much tax as the minimum wage worker. Who is contributing more tax??
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