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Friday, November 11, 2005

Heh Heh Heh

The voters of New Zealand rushed off on September 17th to take a shower. Or so they thought. Today, they begin to get the first almond essence whiff of the cyanide which is to be delivered to them by Clark Cullen and Peters.

Radio Left Wing let the cat out of the bag this morning at 0600. They read out the wrong version of the press release from Heinrich Cullen concerning instructions to the Reserve Bank.

Here's what the correct version said:
'Treasury and the Reserve Bank have been instructed to investigate means other than interest rate adjustments which might more successfully bring inflation under control'
Here's what RLW slipped on at the end:
'No mention should be made of capital gains tax, government spending or ........... [Adolf: something else which I couldn't quite remember.]
So you see, dear friends, it will all be the fault of Treasury and the Reserve Bank. Once again Tamihere is proved right. They are a plotting and scheming pack of pricks, the lot of them. Cullen and Clark created the inflation and high interest disaster which is about to engulf our economy and snuff out any chance of recovery. They created it on the run with the simple words "Interest Free Student Loans."

In his wildest dreams, Adolf didn't realise how close to the mark he was the other day when he indulged himself in some musings about capital gains tax.

Can you hear Muldoon laughing?

Posted by Adolf Fiinkensein | 11/11/2005 06:35:00 AM

10 Comments:

Blogger Murray said...

Jesus Adolf be subtle why don't you.

Not sure the Clark = Hitler t-shirts are going to take off but you go girl.

Could be a line in Cullen = a snivling lying obnoxious little shit T's though now that I think about it.

11/11/2005 09:16:00 AM  
Blogger Adolf Fiinkensein said...

Yeah, that wasn't too bad, even if I do say so muself.

11/11/2005 09:20:00 AM  
Blogger Jordan said...

"There is a variety of policy factors which may have shaped New Zealanders' attitudes to housing and to savings-consumption choices. The longer-term policy issues, such as the tax treatment of capital gains, the extent of social safety nets and public sector savings programs are important but beyond the scope of the present review."

http://www.rbnz.govt.nz/monpol/about/2178063.html

Do you ever pay any attention to the facts, at all?

11/11/2005 09:42:00 AM  
Blogger Adolf Fiinkensein said...

Jordan, what are you blethering about? I don't have all day to sit around on my arse looking at Reserve Bank statements. I listen to the news on state funded radio. Go whinge to Radio Left Wing. They make up the news. I don't. Do you ever read anything properly?

So, will you guarantee that there will be no change to the taxation treatment of capital gains or investment returns during the term of this gummint?

Have I struck a nerve?

11/11/2005 09:50:00 AM  
Blogger Craig Ranapia said...

Jordan:

Now remind me who had to be ordered by the Ombudsman to release the Treasury costings of the student loan bribe in the last week of the campaign?

No wonder Michael Cullen doesn't want Treasury running the ruler over the inflationary impact of the Government pumping billions into an over-heated economy... but I guess that would take a little political courage.

11/11/2005 10:01:00 AM  
Blogger Too Right said...

Hey Jordan. Clearly you accept that the vast extent of state provided services (generally monopolistically) health and other 'social safety nets' is contributing to the reason skewed investment profile of NZer's. Wonderful you've gone right.

Biggest issue is the large and growing state owned and managed sector. That is inflexible and relatively expensive cf. to private/public alternatives

You'll need to offset the capital gains tax with reduced income tax mind. You cannot fiddle with this - you need to looik at the entire tax system. Go flat while you are about it.

In any event I suspect your voters are too wedded to their tax free capital gains for this to get more than scant attention from Miss Toxic

11/11/2005 10:12:00 AM  
Blogger Murray said...

Hey look Jordans talking shit again, must be a day ending in Y.

11/11/2005 11:25:00 AM  
Blogger gd said...

First the government Reserve Bank Treasury et al tell us we should be saving for our retirement So some of us buy rental property because we know if we put our money in other forms of investment its likely to walk.Then we get told weve done the wrong thing and now we are going to pay capital gains tax This on top of the bloody taxes we have already paid on the investment money and the rental income If I could get hold of these bastards they would have their teeth so far down their throats they would be brushing them through their arseholes.

11/11/2005 01:22:00 PM  
Blogger t selwyn said...

"public sector savings programs" - ie. over-taxation.

At least the Govt. are thinking about other means to manage inflation. I know this isn't the right place to give credit to them but they deserve a measure of it after coasting in neutral for so long - even if it is way too late and after the target agreement has been punctured.

As NZ has the first (or one of the first) central banks to use an inflation target system and it seems to be unravelling we are also a case study for what the future may hold for all the other countries that have since adopted our system. Our low unemployment and recent steady growth have not been replicated in too many other countries - but the lessons may still be relevant.

11/11/2005 01:47:00 PM  
Blogger fm said...

Tim, perhaps the reserve bank lowering interest rates the year before (an election) had something to do with that.

11/11/2005 05:01:00 PM  

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