Xmas thoughts on the redistribution of our wealth: tax collectors have the claws to grab it for politicians to play Santa

sowell
Thomas Sowell … he shares his thoughts on Santa and political handouts.

The Point of Order Trough Monitor has alerted us not to the latest bucket of government handouts (seasonally gift-wrapped) but to an observation from American economist Thomas Sowell which mentions both government grants and Santa Claus in a few pithy sentences.

We were tempted to draw Shane Jones’ attention to Sowell’s observation but – hey – it’s Christmas. And why pick on him for special mention?

All ministers have some say in the redistribution of the billions of dollars collected by the Inland Revenue Department.

And we note that Civil Defence Minister Peeni Henare yesterday confirmed an extra $50,000 to assist the Whakatāne community with immediate needs following the eruption of Whakaari White Island.

The contribution will be made to the Whakatāne District Council Mayoral Relief Fund and follows an earlier Government contribution of $50,000 to the fund. Continue reading “Xmas thoughts on the redistribution of our wealth: tax collectors have the claws to grab it for politicians to play Santa”

Capital gains tax: hear what Peters (as PM) has to say about something NZ First opposes

Anticipating the release of the Tax Working Group’s report, Point of Order on Tuesday said the  question  of a capital gains tax being endorsed by the government is whether   the concept can be sold to  NZ  First.  Its leader,  Winston Peters,  in the past  has been  vocal in  his  opposition to a  broad-based  capital  gains tax.

Early yesterday, a few hours ahead of the report’s release, the NZ Herald echoed our thinking.

Whatever Sir Michael Cullen recommends in his final Tax Working Group report today may be off the table if Labour can’t get New Zealand First and Winston Peters’ support for it.

Peters has made it clear in the past he is not a fan of a capital gains tax.

Just before the 2017 election, he told TVNZ’s Q&A that a capital gains tax was “off the table.”

“The two factors are – it doesn’t work and the second thing is there is no fairness if you haven’t got capital losses as well.” Continue reading “Capital gains tax: hear what Peters (as PM) has to say about something NZ First opposes”