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Economic weather report: Heavy tax load for generations X and Y without reform
November 2nd, 2009Bernard Hickey delivers an Economic Weather Report in association with ASB, including a look at the Long Term Fiscal report prepared by Treasury which showed the bleak outlook for Generations X and Y without significant budget and economic reform.
Tags: Bernard Hickey, John Whitehead, tax, tax reform, Treasury
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November 2nd, 2009 at 3:27 pm
The mother of all budgets coming early 2010!
November 2nd, 2009 at 3:55 pm
Some of us cannot hook into ” you tube ” , Bernard . No chance of using the old video format . Wanna see if Warren and Tarquain have boofed your hair , ha !
November 2nd, 2009 at 3:58 pm
Rogie,
Work a little bit harder, so you can afford it or “invest” less in yammy gummy bears
November 2nd, 2009 at 4:11 pm
Walter : I’m not computer literate , but our wireless internet broadband connection with internodal free-zoning facility scrambles the infrequency of the dipolar silicon chip gudgeons ……… So we can’t get it . Certainly I didn’t , when a Filippino technician explained it . There was a typhoon , that didn’t help our pre-modal interpersonal interlocular ………… But there’s always room in the budget for my gummy bears . ( No shame if the 4 y.o. goes to school barefoot . )
November 2nd, 2009 at 4:58 pm
Chapeau – your English is just “too much” for a KiwiSwiss – obvioulsy kids go to school in Loburn – that’s great.
November 3rd, 2009 at 9:11 am
Roger Thompson Says:
“Some of us cannot hook into ” you tube ” , Bernard . No chance of using the old video format ”
I dont have any problems…in the top 5% percentile for NZ and top 12% world for BW.
Buy still agree with RT…the old format was far better, presents the page better.
November 3rd, 2009 at 11:21 am
Tried to watch it on YouTube – I can see Bernard talking but I can’t hear anything.
November 3rd, 2009 at 1:44 pm
Selwyn tells it like it is. Flick the link to X, Y’s and BB’s who give a toss. Worth the 12mins.
http://www.95bfm.co.nz/default,190775,joe-nunweek.sm
November 3rd, 2009 at 2:29 pm
As a generation Xer, I can see the writing on the wall for my generation and the Yers below me. I wrote a blog post about it recently
http://voices.realestate.co.nz/northwellington/2009/07/27/the-dilemma-of-an-aging-population/
There aint going to be any money in the coffers, especially if we pour it all into kiwisaver accounts run by stoopid managers who can’t even make a paltry 3% on the money.
Good ole kiwi DIY will have to suffice.
November 3rd, 2009 at 2:42 pm
Would rather DIY investments – i.e. buy into companies I understand than trust it to a generalist like a fund manager. Yay!! Thought I was the only one not to use KiwiSaver. Of Course, you have to have the discipline to not spend the profits until you retire…
If National Super is around when this Xer retires I’ll eat my hat.
November 3rd, 2009 at 3:12 pm
“Tried to watch it on YouTube – I can see Bernard talking but I can’t hear anything.” that why we need more taxes to bring NZ standard up from the bottom rank…. Our standard has been slipping. Someone nneds to save us
November 3rd, 2009 at 3:17 pm
Speaking of Bernard; At least he wasn’t made to do this:
“..(Dr.)Keen could scarcely have been more wrong,( predicting a 40% fall in Aussie house prices)” Macquarie’s Robertson said today in Sydney. “I wish Dr. Keen well on his long walk ( hiking up Mt. Kosiosko). The Sydney academic will do the walk wearing a tee-shirt saying: ‘I was hopelessly wrong on home prices! Ask me how’
It’s a risky business, this having an unpopular opinion.
http://www.businessspectator.com.au/bs.nsf/article/steve-keen-finally-concedes-pd20091103-xetbw?opendocument&src=blb&is=property&blog=concrete%20detail
November 3rd, 2009 at 3:57 pm
David Garratt : You touch on a superb point , about returns on super . Fund managers in NZ have an abysmal track record , for decades . And this was a major criticism of KiwiSuper when Cullen launched it . Gareth Morgan opined that Cullen was corralling Kiwis into the arms of the funds industry . Then he started up his own fund ! I checked on one , run by Carmel Fisher , and the fees knocked my sox off . Above a certain annual return , the fund rewards it’s directors a 20 % performance bonus . This figure is common overseas , too . Gouging on a grand scale , sheer bloody greed . London to a brick , most Kiwis who buy an investment property , will achieve far better % returns for themselves than will professional fund managers . Warren Buffett is one of the few exceptions to this generalisation .