Friday, March 16, 2018


So a twenty something who was at the "summer camp" is alleged to have put his hands into the pants of two females and two males and is now declared not to be a member of the NZLP.

Sir Michael Cullen has now signalled his many dreams on how he will recommend ways for his fellow socialists to invade the pants of any one who might have a dollar in their pockets.
Wealth tax, capital gains tax, sugar tax, alcohol tax, fat tax, fuel tax, payroll tax transaction tax, death tax, land tax, dividend tax, congestion tax, the list is endless.
Makes Disney's "Scrooge" wallowing in his vault of money not so humorous.

Now wannabe Aus Prime Minister has floated an awful assault on savings with a dividend tax on shares.
One significant knowledge gap for those on the left with no conceptual understanding of how the capitalist system has delivered such largess across the globe is exposed repeatedly with total disconnect on how wealth must be created before it can be redistributed.
A recent published graph was a clear revelation of the gulf of difference between poverty levels c1800 and today. Yes there are some fabulously rich out there, some inherited but most created by technology, music, sport, stage, screen and a few by smart investing and hard work.
Socialist theorists who have embarked on a learning curve dominated by political study just never appear to get any connect between wealth creation and state largess.
That leads to endless slaughter of geese laying golden eggs and 'Shortonbrains' is just the next taxi to depart the station for another "open season".

Hint to Willy, the company that delivered the dividends that you see as a seventy billion opportunity, paid tax on the profits, the company workers from apprentice to CEO paid tax on their wages, the company and its staff all paid consumption taxes and there is a growing need for citizens to fund their retirement as the welfare ideology is in self destruct mode.

Here is a radical idea,  cease with the bribes, churn and feel good largesse,  cut the spending, did you miss how things took off when Mr Trump cut taxes. Pity is that Pollies seem unable to resist the allure of spending OPMs in a misguided notion they are doing good  work or much more accurately merely polishing their already  shiney  and ample arses.


David said...

The stupid is never far from Akaroa, is it? How about you don't write about things you don't understand.

The Shorten plan is not a dividend tax on shares, it is closing a dumb arsed rort.

The simple way it works for simple OAPs.

1. Company makes a profit, pays tax, pays a dividend.
2. The recipients of the dividend are allowed to use that tax credit to offset their tax on other income.

This will not change. Got that? There will be no change.

What will change is people who do not pay tax putting their hands in the nation's trousers and demanding a tax benefit they are not entitled to.

This is no different to the unemployed / retired asking to be included in Working For Families, something I believe you opposed.

Anonymous said...

David seems to be OK with creating 2 types of shareholders:
1. Still working, tax imputation credits from their investments can be used as a deduction on their taxes.
2. No longer working, tax imputation credits for their investments don't count.

Simple solution for the Companies - create two types of dividends. One with tax credits for taxpayers. The other (higher dividend return) without tax credits for retired people. Make your choice with the company as to which issue you prefer.


Anonymous said...

PS. Thank you GD, well put.


The Bunbury Baker said...

David seems to be OK with creating 2 types of shareholders:

And what's wrong with that?

The other (higher dividend return) without tax credits for retired people.

Who will then cry blue bloody murder because the higher dividend will lift them in to an income bracket where they WILL have to pay tax.

The OAP from Akaroa wants to live on his taxpayer funded benefit while wanting to see taxes reduced or eliminated. If you want to suck on the taxpayer teat, you need someone paying the tax.