There's the odd case where you'd want to listen. Former world leaders, current world leaders, banks who lend you money, rating agencies who dictate your cost of borrowing.
But your OECDS, IMFS and World Banks and United Nations?
They all come down here, someone tells them we don't have a capital gains tax and they say, uh, well, you guys need a capital gains tax.
And raise your pension age.
The IMF is here doing this right now.
They outline the problem - we have structural deficit. The government spends more than it earns.
It's borrowing money from the rest of the world just to keep its head above water.
It's struggling, pay-cheque to pay-cheque, taking out pay-day loans to cover the in-betweens.
It's gotten so bad, as I told you earlier this year, next year, $5,600 of the taxes you pay as a household will go straight to paying the interest bill on our debt.
That’s five and half grand a year, just in interest!
More than we spend on schooling our kids through primary and secondary.
Debt servicing is now the fourth-largest line item on the Government’s books, according to Treasury.
So, enter the OECD, or the IMF, or the OEIMF.
Their solution? A comprehensive CGT could raise the equivalent of 1% of GDP, roughly halving the country’s fiscal deficit.
A deficit, they say, we should pay down.
The problem with demanding more tax to pay for bad spending is that it encourages more waste and gluttony.
It's like gorging on fast food, paying for the skinny jab, then getting fat all over again.
You don't learn discipline. No consequences.
And once the next structural deficit inevitably arrives, you know what IMOECDS will recommend.
Another tax.
Ryan Bridge is a New Zealand broadcaster who has worked on many current affairs television and radio shows. He currently hosts Newstalk ZB's Early Edition - where this article was sourced.
4 comments:
It is just a macrocosm of how they gaslight us in our households. They tax our wages, our goods and services, our utilities. They even tax the tax on petrol, drink and rates. And then they tax us with inflation on top of all of that. And tax that inflation by not increasing the income tax thresholds.
And now they want to tax the inflation directly. Of all the proposals I have seen, none deflate the capital gains by the inflation rate.
Then they turn around and say it is our fault because we are not saving enough for retirement.
No. They have broken the social contract. And in the new system there should be no usury. At the very least the Reserve bank should not be able to charge the government usury for creating the money that the treasury could create for itself for free.
When they do that, then I will listen to the IMF and the OECD and the world bank and the UN. But I am not holding my breath.
Time also to look at our welfare bill. Paying people to be nonproductive, and children being born into these units who can't be bothered feeding their kids or sending them to school.
time for the government to start heading in the right direction and spend taxes wisely
Not sure why we should get annoyed? The world institutions can’t force us do things that we don’t want to do. The questions that we need to ask is: do we have have preferential treatment of a non productive part of the industry and if yes what should we do to correct
It.
Unfortunately these reports provide another stick for Chippie and his mates to wave at the Coalition, whilst pretending they can fix things, which they can’t (just ask Kier Starmer) but once they’re in its too late. We’re doomed I tell ye. Doomed!
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