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Comments on: The Visible Hand in Economics Fri, 05 Dec 2025 13:50:02 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: lonewolf http://www.tvhe.co.nz/?p=4725/#comment-23013 Mon, 15 Feb 2010 15:35:07 +0000 http://www.tvhe.co.nz/?p=4725#comment-23013 as always the rich get richer….

& the poor gets poorer

]]> By: TVHE » Shift to GST and “imbalances” http://www.tvhe.co.nz/?p=4725/#comment-22987 Thu, 11 Feb 2010 20:21:37 +0000 http://www.tvhe.co.nz/?p=4725#comment-22987 […] to our discussion of New Zealand doing a compensated shift of taxes from income to GST (see here, here, here, here, here, here, here) we come to the issue of economic imbalances in […]

]]> By: Tim Smyth http://www.tvhe.co.nz/?p=4725/#comment-22981 Thu, 11 Feb 2010 04:11:22 +0000 http://www.tvhe.co.nz/?p=4725#comment-22981 It seems like the real fundamental question is whether New Zealand wants the same tax system as Hong Kong and Singapore. Basically both personal and corporate income tax rates in the high teens, no capital gains, plus land tax between 10 and 15 percent, plus GST in the case of Singapore. I don’t see how you get to this system without land tax. On the otherhand if you really want to shake up the NZ economy becoming more like Singapore and Hong Kong is the way to do it. Lowering corporate taxes to 25% would only put NZ in the same realm as Canada and the Netherlands along with UK possibly with George Osbourne as Chancellor. All three of the previously mentioned countries are all far closer to major world population centers. I would say not having capital gains tax in NZ does put it in a fairly unique position in the world.

]]> By: Matt Nolan http://www.tvhe.co.nz/?p=4725/#comment-22980 Thu, 11 Feb 2010 02:54:32 +0000 http://www.tvhe.co.nz/?p=4725#comment-22980 @buddy thomas

How?

]]> By: buddy thomas http://www.tvhe.co.nz/?p=4725/#comment-22979 Thu, 11 Feb 2010 02:52:07 +0000 http://www.tvhe.co.nz/?p=4725#comment-22979 as always the rich get richer….

]]> By: TVHE » More winners and losers from GST http://www.tvhe.co.nz/?p=4725/#comment-22961 Wed, 10 Feb 2010 19:56:44 +0000 http://www.tvhe.co.nz/?p=4725#comment-22961 […] us New Zealander’s are switching some income tax to consumption tax.  Good for us.  In order to think about whether this is a good thing we need […]

]]> By: Matt Nolan http://www.tvhe.co.nz/?p=4725/#comment-22939 Wed, 10 Feb 2010 01:11:11 +0000 http://www.tvhe.co.nz/?p=4725#comment-22939 @rauparaha

I wouldn’t say “rest of the country”.

Furthermore, if the problem is one of framing then I would say “the rhetoric of the government and its actions are very different – this is what confuses me”, again.

]]> By: rauparaha http://www.tvhe.co.nz/?p=4725/#comment-22938 Wed, 10 Feb 2010 01:08:46 +0000 http://www.tvhe.co.nz/?p=4725#comment-22938 @Matt Nolan
That answer is exactly why I think you systematically differ from the rest of the country in your perception of a ‘step change’ 🙂

]]> By: TVHE » An unseen cost of shifting from income tax to GST http://www.tvhe.co.nz/?p=4725/#comment-22929 Tue, 09 Feb 2010 23:44:39 +0000 http://www.tvhe.co.nz/?p=4725#comment-22929 […] recent events it is obvious that New Zealand will do a “compensated shift” of the tax system away […]

]]> By: Matt Nolan http://www.tvhe.co.nz/?p=4725/#comment-22926 Tue, 09 Feb 2010 22:26:49 +0000 http://www.tvhe.co.nz/?p=4725#comment-22926 I suspect that an increase in GST by 2.5 points feels like a big deal to people because the government hasn’t explained how the countervailing changes in the tax system work. Increasing GST by 2.5 points and cutting all income tax rates (and lifting entitlements) gives a very similar tax system – infact it is almost exactly the same when interest income is excluded and we have a magical economy with no credit constraints 😉

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