PM should call on boards, owners to return $20b of surplus Covid cash; should beneficiaries of unearned capital gains on homes also return at least $20b to Govt? Funds should go to 'Build Back Better'
Absolutely open this up please. It seems those who profited from Covid are businesses and asset( house owners). The only ones who “took it for the team are the poor and powerless”. This is what capitalism is about and always has been. I see the “little man in short pants “wants to open up and get more slaves in to service the neoliberal machine. Again more 20th century economic claptrap. Meanwhile the planet burns, freezes, droughts, floods , wars and blows while the human deluded lemmings only cognisant of their pocketbooks, head towards Armageddon.
Actually it may have arrived.? I have joined the Green party. Sad about James Shaw but we need younger blood ? Chloe or could we import the young lady from Sweden. Greta Thunberg. Time to cease “magical thinking”.
Thanks Bernard, I agree with your call. Suggest this would be a good one for open access. While I think many are concerned about inequality (just like climate change) few are prepared to take any financial hit to make the situation better. I'd like more recognition of the flow on effects of reducing inequality by lifting benefits. These include better health (more vege less white bread), improved education (more kids staying in school), improved productivity (if you know where your next meal is coming from and can afford to run your car you are more likely to be "job ready") etc. All things that I'm sure most people would agree are good for NZ.
Another brilliant and innovative idea that needs more exposure. Perhaps a discussion or debate between an expert commentator like you and another “expert” like Mike Hosking conducted by Jack Tame is called for. This needs to be aired in Mainstream media somewhere. I think I’ll suggest it to TVNZ’s Q & A.
We all know its political suicide to be proposing taxes that will turn off the swing voter right? Trying to do the complete right thing doesn't help if you loose and someone else drives and goes hard right instead.
Jul 24, 2022·edited Jul 24, 2022Liked by Bernard Hickey
Yes any sort of ongoing windfall tax & widespread rebate would be very welcome.
Why not deliver the rebate via a corresponding drop in the GST rate, even if temporary?
This would be universal instead of a targeted handout, everybody would benefit.
It would counter the inflationary effects of temporary global grain prices rise & shipping costs like the temporary removal of the fuel excise has countered the temporary oil price rises which are now coming down.
It would be significantly less complex & less costly to deliver than targeted payments through the IRD or W&I.
Does anyone here have any background knowledge on how/why the Greens decided on a 25% threshold for ousting a leader? (I've been a member in the past & I'm aware this is a party that takes a "don't walk the walk, sprint the walk" approach to good democratic practice, but giving this much power to any given 25% of your membership is extreme, even for them).
"On the air Walls had referred to $20,000 of Film Commission funding but said he wasn’t sure how Siouxsie and the Virus had been funded.
It turned out that sum relates to a different project yet to be made.
Loading Docs producer Julia Parnell told Mediawatch that Loading Docs provided $6,000 in production finance and $2000 towards the post-production for Siouxsie and the Virus.
The funding model requires filmmakers to raise other funds themselves via crowdfunding.
Parnell told Mediawatch Siouxsie and the Virus raised $7685 through the crowdfunding platform ‘Boosted’.
Ironically the mini-doco was also boosted by the New Zealand Herald back in 2020. "
I think there is a massive difference between receiving a govt handout and having your house gain value during the same period. Yes handouts should be handed back. But trying to skim money of house owners is too much. Bernard you love to point out how much capital gain homeowners are getting. Problem is It’s not real money! If everyone who owned a house sold today to “release their capital gains” the market would crash and house prices would collapse. What would be the gain be then? The reality that the housing market had become speculative like the sharemarket makes my head hurt.
Bernard, how would your one-off land tax work in practice? When would I, as a property owner, need to find the money to pay it? Asking because I 100% support the principle of taxes on capital gains, but as a practical matter, I own one property and the only time I'd have the ability to pay any percentage of its paper value is if I was selling it. Would I need to take out a new mortage to pay the tax on the rise in value? SO much better for me if property prices could just... fall.
I think this is an extremely important article for all New Zealanders. Also, may I say how disgusted I am by NZME. Such blatant hypocrisy goes far beyond the pot calling the kettle black, theirs was an attack piece, plain and simple. Absolutely pathetic. Thank you for your excellent coverage, as ever
Good ideas. Had the business relief all been loans this would have to occur.
Much was to support employees, so why didn’t it?…showing up instead as profit.
Newstalk ZB has reported the unemployment rate is 11 percent not three.
I’m am always concerned the figures reported miscount women working in unpaid labour usually alone on inadequate funds to care for children and who are not getting their or their children’s legal rights to adequate maintenance, child support and property share made available to them to live at a reasonable standard and afford or have shelter and services they need in these vulnerable and formative years with no access to Justice. Obviously this causes chaos both then and later.
The millions granted to sports, media and business should all be loans and grants should have gone to individuals most in need of course and for services and infrastructure required. I do approve of the funding for new builds but it didn’t need to be left in the gatekeeping, profiteering private banks and still doesn’t. There is a lot to fix isn’t there?
The “poverty effect” doesn’t work for anyone really but business have been disproportionately well served, a debt taxpayers will owe, by this Government providing them another “windfall” agreed.
Media keep reporting inaccuracies as well which is shoddy work. Is the beneficiary rate 3 percent or 11 percent? Your example was shoddy work to report inaccurately about the funds used as well. They just keep mouthing off with their reckons and with no evidence or analysis done. That should be a firing offence for a Journalist because someone’s lying or useless at their research bamboozling the poor public.
An outline of Bayesian probability that is understandable!
Absolutely open this up please. It seems those who profited from Covid are businesses and asset( house owners). The only ones who “took it for the team are the poor and powerless”. This is what capitalism is about and always has been. I see the “little man in short pants “wants to open up and get more slaves in to service the neoliberal machine. Again more 20th century economic claptrap. Meanwhile the planet burns, freezes, droughts, floods , wars and blows while the human deluded lemmings only cognisant of their pocketbooks, head towards Armageddon.
Actually it may have arrived.? I have joined the Green party. Sad about James Shaw but we need younger blood ? Chloe or could we import the young lady from Sweden. Greta Thunberg. Time to cease “magical thinking”.
Thanks Bernard.
Patrick Medlicott
Thanks Bernard, I agree with your call. Suggest this would be a good one for open access. While I think many are concerned about inequality (just like climate change) few are prepared to take any financial hit to make the situation better. I'd like more recognition of the flow on effects of reducing inequality by lifting benefits. These include better health (more vege less white bread), improved education (more kids staying in school), improved productivity (if you know where your next meal is coming from and can afford to run your car you are more likely to be "job ready") etc. All things that I'm sure most people would agree are good for NZ.
Another brilliant and innovative idea that needs more exposure. Perhaps a discussion or debate between an expert commentator like you and another “expert” like Mike Hosking conducted by Jack Tame is called for. This needs to be aired in Mainstream media somewhere. I think I’ll suggest it to TVNZ’s Q & A.
Good idea Steve
P
We all know its political suicide to be proposing taxes that will turn off the swing voter right? Trying to do the complete right thing doesn't help if you loose and someone else drives and goes hard right instead.
Very sad to see Shaw hit the bin, he's been a good moderating influence on the fringes in the Greens.
A great opportunity for the Nats to offer him a clear run at a safe seat and establish a Teal party that can work with them not just labour.
A windfall tax on businesses, banks & property owners is a brilliant idea, Bernard. Hell, if the UK Tories can do it, why not us?
Yes any sort of ongoing windfall tax & widespread rebate would be very welcome.
Why not deliver the rebate via a corresponding drop in the GST rate, even if temporary?
This would be universal instead of a targeted handout, everybody would benefit.
It would counter the inflationary effects of temporary global grain prices rise & shipping costs like the temporary removal of the fuel excise has countered the temporary oil price rises which are now coming down.
It would be significantly less complex & less costly to deliver than targeted payments through the IRD or W&I.
See
https://thekaka.substack.com/p/tuesdays-chorus-whos-to-blame-for/comment/7822057
Does anyone here have any background knowledge on how/why the Greens decided on a 25% threshold for ousting a leader? (I've been a member in the past & I'm aware this is a party that takes a "don't walk the walk, sprint the walk" approach to good democratic practice, but giving this much power to any given 25% of your membership is extreme, even for them).
Well worth the read
https://www.rnz.co.nz/national/programmes/mediawatch/audio/2018850576/criticism-of-mini-doco-funding-hits-a-dead-end
"On the air Walls had referred to $20,000 of Film Commission funding but said he wasn’t sure how Siouxsie and the Virus had been funded.
It turned out that sum relates to a different project yet to be made.
Loading Docs producer Julia Parnell told Mediawatch that Loading Docs provided $6,000 in production finance and $2000 towards the post-production for Siouxsie and the Virus.
The funding model requires filmmakers to raise other funds themselves via crowdfunding.
Parnell told Mediawatch Siouxsie and the Virus raised $7685 through the crowdfunding platform ‘Boosted’.
Ironically the mini-doco was also boosted by the New Zealand Herald back in 2020. "
I think there is a massive difference between receiving a govt handout and having your house gain value during the same period. Yes handouts should be handed back. But trying to skim money of house owners is too much. Bernard you love to point out how much capital gain homeowners are getting. Problem is It’s not real money! If everyone who owned a house sold today to “release their capital gains” the market would crash and house prices would collapse. What would be the gain be then? The reality that the housing market had become speculative like the sharemarket makes my head hurt.
Open it up.
Although I do think trying to extract windfall money will get the same reaction as asking lotto winners to give up their winnings.
Bernard, how would your one-off land tax work in practice? When would I, as a property owner, need to find the money to pay it? Asking because I 100% support the principle of taxes on capital gains, but as a practical matter, I own one property and the only time I'd have the ability to pay any percentage of its paper value is if I was selling it. Would I need to take out a new mortage to pay the tax on the rise in value? SO much better for me if property prices could just... fall.
I think this is an extremely important article for all New Zealanders. Also, may I say how disgusted I am by NZME. Such blatant hypocrisy goes far beyond the pot calling the kettle black, theirs was an attack piece, plain and simple. Absolutely pathetic. Thank you for your excellent coverage, as ever
Good ideas. Had the business relief all been loans this would have to occur.
Much was to support employees, so why didn’t it?…showing up instead as profit.
Newstalk ZB has reported the unemployment rate is 11 percent not three.
I’m am always concerned the figures reported miscount women working in unpaid labour usually alone on inadequate funds to care for children and who are not getting their or their children’s legal rights to adequate maintenance, child support and property share made available to them to live at a reasonable standard and afford or have shelter and services they need in these vulnerable and formative years with no access to Justice. Obviously this causes chaos both then and later.
The millions granted to sports, media and business should all be loans and grants should have gone to individuals most in need of course and for services and infrastructure required. I do approve of the funding for new builds but it didn’t need to be left in the gatekeeping, profiteering private banks and still doesn’t. There is a lot to fix isn’t there?
The “poverty effect” doesn’t work for anyone really but business have been disproportionately well served, a debt taxpayers will owe, by this Government providing them another “windfall” agreed.
Media keep reporting inaccuracies as well which is shoddy work. Is the beneficiary rate 3 percent or 11 percent? Your example was shoddy work to report inaccurately about the funds used as well. They just keep mouthing off with their reckons and with no evidence or analysis done. That should be a firing offence for a Journalist because someone’s lying or useless at their research bamboozling the poor public.