You know why there shouldn't be a CGT? Because the extra tax will be squandered by the likes of the last Labour government to the real benefit of no one. ACTUALLY, less tax is better, more independent, self determining citizens. Social welfare has now largely become a cancer.
One more thing to add about New Zealand’s low and dropping productivity, our population is getting older and speaking as a man in his 60s you just can’t get as much done in a day as when you are in your 30s.
This is my pet hate. Productivity arguments from economists are so frustrating. The calculation is effectively dollar of output per dollar of input. This would mean businesses that are able to highly leverage labor costs such as tech businesses, manufacturing businesses, where the output is not tied directly to the hours of employees generate more productivity. NZ Inc has basically closed its manufacturing capability. Our tech company ownership heads offshore as soon as it is able. Successful businesses get too big for local purchasers so sell to, so they sell overseas and then those earnings head offshore. Our farming and agriculture may be world leading, but you are getting to the thin edge of how much you can produce from the land. What is needed then is value added to those raw materials, to generate more productivity here. Fonterra moved from just milk to milk products some time ago, as an example. But even our raw tree logs and fish are sent overseas to be processed and turned into goods. Then the politicians and couch economists say everyone needs to work harder to put out more per hour of work you do but only with what you have and no business improvements to increase productivity, which just isn't possible. Businesses need to invest to become more efficient, but also focus on outputs that are worth more and cost less in terms of labor to produce. Telling staff they need to produce more or that they don't put out enough for what they cost is what holds down wages. The economy needs to be given the tools to expand its capability, leverage tech advances, leverage capital towards goods and services that are more valuable per hour, and reward staff accordingly. But neither political side seems to see it that way. The left wants to grind business down and the right wants to blame beneficiaries🤷
I wish the average bloke in NZ knew as much about economics as they know about rugby......then we might have a country we can all afford to live in...... but of course we don"t and we will become poorer as the country dumbs down to poverty......but how about those All Blacks......
There's a reason why this channel and others like it exist - it's to help teach people with poor financial literacy how to do things smarter. Unfortunately it's been completely lost by the glass half full broke socialists who have nothing better to do than moan and chuck in their 2 cents in these comments instead of looking at ways to improve their personal financial situations. "It's always (insert someone else / government /companies) fault" they cry without ever looking in the mirror and doing a budget and some forward planning.
The mirror thing is on the mark - I usually say most peoples' problems are down to the person in the mirror, and the more problems they have, the more likely that's so. Not everyone can figure out a way to get other people to make them money, but they can figure out how to make the most of what they have to work with - helping them helps everyone..
The best i am doing is is showing my 20 year old daughter how to invest in the US markets and how compounding works, she has taken a keen interest in finding good companies. I now know if I am not around she will have a better future built by herself. You can not rely on any Government to look after you.
We need to lower tax and make our politicians accountable for the tax money they spend. Also they should be audited to find out where the money has gone
I have a house in Dunedin I renovated 5 years ago. (workers cottage type thing in the city center) It’s really awesome, and I rent in Brisbane for now, but I can’t wait to move back and live in that house. It is so much nicer than where I live now. You guys actually have oxygen particles in your air. For a while, I used to get excited about rising property values and the idea of getting richer. I also own a block of land in Victoria, and while I have two mortgages on the house and land, they aren’t huge. I’m in a pretty good position overall. When I’d hear people saying, “New Zealand is going downhill, we’re leaving for Australia or elsewhere,” I used to worry about how that might affect my primary investment. But then I started thinking about what I love about New Zealand in the first place. Greater Brisbane has a population of 3 million. The roads are congested, and traveling to the coast or hinterlands often feels like a mission. Global warming is real-the nights are getting hotter, and the days can leave you tired from the heat and headaches from sweating. In contrast, New Zealand’s relative quietness is its charm. It’s one of the most beautiful places in the world, and the last thing I want is for property values to skyrocket another 200%. Stagnation might not be great for some, but for others, it preserves the peace and balance that make the country so special. New Zealanders have an almost spiritual connection to the land-something that has drawn back many of my family members. While I think the economy has taken a hit recently (partly my fault-I voted for Jacinda at the time as well), the country still has its social values together, and that’s worth something. That said, New Zealand needs to focus more on supporting primary producers, farmers, and enterprise. The constant race-baiting from both sides is a distraction from the real issue: ensuring everyone has the means to thrive and enough to eat. At the end of the day, Kiwis all need to work together to put food on the table for the nation. New Zealand will be fine if people keep growing and making things. The hospital in Dunedin is a great example of where a state-of-the-art resource is needed to complement the university there. Unfortunately, it seems like a case of financial mismanagement and short-sightedness. I hope they sort it out and build it as planned. Buy some Garmin Depth Finders for your Naval Fleet as well. Those things are awesome, I have one on the Yamaha. Haven't hit a reef yet. That could save a few hundred million. End rant.
Have precious metals and tangible assets. Stuff you’re going to need in the future will not get cheaper so get it now while you can. If you don’t hold it, you don’t own it. Buy non perishable food and store it. I have grocery receipts from 5 yrs ago when most items were half the price. Buy land where you can grow your own food and live off grid. Be as self sufficient as you can and keep an open mind on new opportunities.
Since 2015 gold has not kept up with inflation even with the last little gains it made,the supply increases by 2% a year, does not sound like much but 2% of 14 Trillion is significant.
Never rely on the state to "provide". You have to make it happen yourself and it usually involves "work". The latter being a foreign concept to a lot of people in NZ.
If it was up to the likes of you NZs national assets would be sold off to the private sector and screw everyone but the wealthy. NZs foundations were built nf social welfare,providing a buffer for those less fortunate or out of work.But you lot would scrap that for the 1% to take over our cou try and turn it into little America.Just gross
What a ridiculous comment.. Why are we experiencing the largest immigration of kiwis to Australia.. because of higher wages and employment! Kiwis are known to be good workers..
@@adrianfairlie1584 - Not all Kiwi's are good workers or work at all. People who get off their backsides and make things happen are better off in the end that those that do nothing and expect the state to provide (which was my point in the first place). Australia might be the golden goose for some people but not for everyone and it has its downsides as well.
@ProjectFrugal Every society has issues with mental health and poor education ,which is why education is important and giving school lunches is a great idea or do you not agree ?
Capital gains tax has not worked around the world so why should it work here , people should look after their own wellfare and live within their own means
Hey mate nice to see a couple onto it kiwis i feel like alot of rhos stuff we dont understand and when you try to educate yourself ,we are told dont bother looking its all misinformation...thank you guys...
Great talk . The saying is " The only true sin is waste ". Why waste our valuable time in a country that is now not what it used to be , now with a corrupted system. A group of my mates discussed these things when we had a farewell dinner to NZ in 1975 . I created my wealth overseas came back to NZ when Roger Douglas advocated bringing in GST and have a Flat 20% tax for the people. I stayed in NZ for 20years building a group of over 20 companies. After the Christchurch earthquake fiasco I left NZ to start a new life of freedom . Go to a country where you are treated best , vote with you feet, its a ,good start. The private Reserve Bank did not exist when my ancestors moved to NZ in the 1860's.😃
You’re missing the key points? We don’t have to ‘take Elon’s money’ - but we do need catch up on all the capex investment that was abandoned after Muldoon. So, if we need to do that, if we need to correct for market failure - which we do - then how are we to do it? Because it needs to be done. Strategic use of Sovereign debt and progressive taxation seems sensible. Look at the new deal, the top 1% was paying 90%, and they were still rich. Meanwhile, the US made a huge leap in its infrastructure, preparing for its imperial role post ww2. Why is our top tax rate only $170k? I’m pretty sure some earn much more than that. Even more importantly (?), if everything is a private monopoly, are we paying more or less for it? Public monopolies - when structured properly - lower the costs of life and business. Somehow the banksters have convinced us that the ‘free market’ is private monopolies. But the free market of classical economists was the opposite; theirs was a market free of monopolies/cartels. We be gaslit, on many levels, it seems.
CGT has been in Australia for years. There are several ways to calculate the amount due after the sale of property etc. It depends a fair bit on your taxable income amount for the relevant financial year and then the CG made in the same financial year is added and the tax on the total amount calculated.
Yes, but the argument that a CGT will make property prices affordable, is that true in Australia? Australia has CGT, but are their property prices affordable?
@thriftest Next year CGT will have been in Australia for 40 years. I have sold 3 properties in Australia between 2005 and 2021, about to sell another couple- CGT is only payable regarding investment properties (i.e. any property which is not your principal residence). Principal residence is always exempt and also when purchasing pay minimum stamp duty. I had to pay 25k on the sale of land I sold once but I had doubled my investment amount in just 4 years. Most property prices in Australia are through the roof and they keep going up so it only takes a few years before you pick up another 100k or more in property value, this can be several 100k more in some areas. Just need to buy in a suitable area. I don't think CGT is fair at all as the owner is risking everything and it does cost and can be concerning at times because markets can change quickly. But saying that there is nothing we can do about paying CGT when it is due.
@esskayaussie286 thanks for that thorough reply. Understand there is tax revenue generated, my point was that advocates for introducing a cgt in NZ say it is because they want housing to become affordable. What you are saying is no, values are still through the roof. So the argument for a cgt must be that it has little or no effect on property values, but that it taxes people that sell houses. If anyone says a cgt pushes house values down, there is no evidence.
@@thriftest Agree. CGT does not push property prices down. That's BS. Makes no difference to prices at least as seen in Australia as the demand is too strong. Only thing that would push prices down is a massive increase in housing supply and maybe increase interest rates to reduce borrowing demand. In Australia if you have to pay CGT, it is calculated taking into account all holding costs for the property during the time of ownership (all tax deductions include, rates, water, mowing or other maintenance costs, insurances etc) all these come off the CGT which might be due. Anything that was an ongoing expense while you owned the investment property. So that helps.
A message to young people “Lay flat” don’t try to climb the mountain, the mountain will come to you. See what’s happening in China, the property market has collapsed when it got to the stage that young people could never afford the 12 average years of income to buy an apartment that is a 90 year lease
Well how bout this we instead have those tesla homes, no power bill cheap. modular. Nice 0.5ha each for that guardian and that beast, AAhhhhhh. What is wealth friends...good on you two, this is important for kiwis to hear from not the old and grey BBs.
You can't have a viable economy by competing for housing and accumulating 360 billion or 90% of GDP in private debt to pay for it. Or by having regulations that massively restrict the supply of land for housing and business. The reason that we are in recession is perhaps because we are so restricted by what we can do and the cost that we are wilting under this load. NZ has become used to a continuous supply of money being created by banks to fund mortgages via low interest rates and steady immigration to prop up the economy that we have forgotten that real wealth comes from productive enterprise. Not from a housing Ponzi scheme which has all of the wealth flowing to property owners and banking profits now at 7 billion annually. Unfortunately we have squandered our productive sector, abused it, regulated it and taxed it as if can withstand anything and will always be there but unfortunately it is no longer sufficient for the government to run a surplus and pay of debt. We must deregulate, free up the supply of land, breaking the councils control and start the economy again from the ground up with numerous small businesses operating freely without harassment by regulation and high rents.
The most important thing is to gain a skill that will obtain you a job that will pay a decent wage that will allow you to get ahead financially and eventually start your own business .
there is already a captial gains tax on property in the UK and a stamp duty when you sell. its inheritance tax that has been brought in as farmers have been exempt I believe.
There are two forms of earning an income: 1) Value added through working or innovation. 2) Rent seeking. Adding no value. NZ effectively taxes #1 at 39% and #2 at zero. So yes lower tax on hard work and businesses but also let's tax the landlords who suck the wealth from everyone else. Land value tax would be ideal as landbankers benefit from the hardword of everyone in the neighbourhood around them. I'm on a 39% tax rate and get fuck all for it; The healthcare system, justice system and education system are all fucked and there is very little career growth since NZ tax the shit out of anything productive.
Having USD or NYSE investments you definatly notice the currency sliding, I think we are almost touching 57cents today. Im not sure what plans we have for how we are going to fit into the global market in the future but... looks tough.
I want to stay and help fix this place, i kind of like it here. Hay just found your pod, love the conversation. QQ ?, Nz owes like over 180 Billion - who do we owe that to ?, plus if its our right to print, why do we borrow at all?. Cheers.
What about the Argentinian trick.Devalue the currency ( not increase printout).Benefit increased earning from exports,but it would result in increased costs for imports
Don't deal in ETF's, it's critical to have your hands on your assets. If the banks go down they and any hedge fund will burn your money because they own it on paper and you don't physically hold your assets. Just like Bitcoin if you don't hold your keys it's not your Bitcoin. Let's try to be smarter ffs!
Investing in gold before the worlds banks collapse and bring in a new system around digital I.D will save you losing that money that was sitting in a bank.
The asset holders get richer because governments increases the money supply. This reduces wages relative to the amount of money in the system. It also reduces good debt relative to the income that assets income. Unfortunately this means the last labor government oversaw the largest transfer of wealth from the working class to the wealthy.
Why didn't I take some action? Well my family (adult kids) and I are paying our landlord $65k a year for 2 houses built in the early 1960s, that the landlord has owned since she inherited them about 50 years ago. I have thought about trying to save a dollar a week, but I do like chocolate 😃
Bring in Japanese innovation n efficiency productivity expertise? I was amazed at their advancement n productivity innovation in my recent holiday trip there
I'm a metals guy but bitcoin curious - what happens to bitcoin wallets if (when) the power goes out down the track? Or is it a case of - if that happens we're all flocked anyway so it doesn't matter what you're holding? It'll be back to spears and clubs.
@@hoozleup I acquired an Ant-Miner back in 2016 I ran it 24/7 till the Asic cards blew up at the time it barely made enough to cover the power bill I transferred the coin to a bitcoin wallet on my phone and left it in there for 8 years. Last month I cashed that coin in they paid me $ 3000.00 for it so its Merry Christmas for me.
If capital gains tax doesn't affect property prices than Wires New Zealand with some of the most generous capital gains tax in the world have some of the most expensive property?
Quantitative easing, unconventional monetary policy etc by the RBNZ and the high tax by government. This all incentivises investing in property. If you go to the grocery store you will see that it's not just property that's going up, how will capital gains tax reduce food prices? CGT will actually increase rents if landlords are having to pay more they will have to pass that on to tenants because most borrow to buy rentals or costs of repairs etc go up for them too.
@@aforum4459landlord's don't pay capital gains tax. Ex-landlords pay capital gains tax. Capital gains tax isn't a cash flow expense. If you want to talk about what affects how much rent landlords need to charge you need to look at cash flow
@@aforum4459 capital gains tax isn't a cost for landlords. It's a cost for ex-landlords. It's only paid after a property has been sold. Capital gains tax encourages speculation not cash flow investing which is what renting is.
Stock markets crash so are risky, the great depression showed us how real estate value crash, all fiat currency including USD/NZD inflate themselves to zero, Bitcoin is doomed by quantum computing and its value being backed by nothing, gold is the only time tested preserver of wealth, gold is real money that holds its value as it has done now for more than 5000 years.
How about preventative maintenance guys, how about solutions! You talk tough and bag other people and don't offer any idea's around the root cause of the problem. The problem is NZFR printing Quantitative easing and the banks ability to bail in off the backs of people's life savings. If debt is a solution in your opinion please explain, if Bitcoin and cryptocurrancy are good for self custody and control of one's own finances. Talk it up, you sound as confused at the end as when you started. Get real. Taxes don't work, just like councils don't work. In fact nearly all of New Zealands councils are running bankrupt. They are being used to further control society and once people can't afford rates they will have us arrested and thrown out of our own homes. The government is corrupt. Politicians must not be trusted to make sensible decisions they will offer more government jobs and say employment is looking up just to keep there own jobs, when in fact they are the problem. It's high time kiwis stood up and told these so called public servants to fk off for good.
Capitalism needs restrictions and better distribution. Everybody needs to own a portion of the company or capitalism will abuse the real only value labour for less then it's worth. Otherwise we're stuck in continued increased wealth inequality that's exploding out of control. Huawai and China is a good example of evolving into this. The moral value of billionaires is completely off and is from a broken system being abused at the expense of everyone else. Capatilism also leads to bias govements that are not in the best interest of most people and more towards doner cooperations. Like we can see with National. Fast tracking, canceling smoke free NZ etc
Unfortunately, people do not own the value of their labour. You seem not to understand that the value of labour is based on the global market and cost competitiveness compared to automation. If you want to make wage rates increase, you need to tackle the issue of able foreign workers' ability to do the jobs for less, which sets the value of labour.
@@VanDynamoPlayer They can assuming it's a public company. If the employees don't feel they get paid enough then they can offer their services elsewhere. That's one of the good things about capitalism - the market decides.
@@ProjectFrugal why can't it be salary and a percent and you can still go elsewhere if you want. Also not sure if your trying to say capitalism favour's workers?
@@VanDynamoPlayer - A very small percentage of companies offer that but it's a tiny amount. Workers are free to pick and choose who they work for. If the employer doesn't pay enough or provide enough benefits then they go somewhere else. Employers are risk takers and have a vested interest in ensuring their business succeeds. Unfortunately a lot of them don't succeed but that's the nature of business. Providing something of value that someone needs or wants.
So, you’re excluding the social democracies and offering the illusion of choice? Ok. China. Vietnam. Both communist, and capitalist. Ditto Marx, he was a classical economist and a socialist: what does that mean? It means, on one level, public monopolies of public infrastructure and public finance to lower the cost of business and life. Call it capitalism that works, and that’s what China has done.
Yeah what's happening in New Zealand ,is rugged individualism for the masses and socialism for the big boys and corporations. Capitalism doesn't work well with overseas monopolies subsidised to invest in non productive industries ie residential property and finance sector
@hamishfullerton7309 Hamish it's not capitalism that is letting you down it is poor government and greed .. which is the same in socialism . People need to hold our law makers and politicians to account ..
@@geoffwhite1350 Self-employed actually. If you want to live in a half-decent country, you got to pay taxes. Where else do you think the roads, parks, law, police etc comes from. Oh, and the pension should also be means-tested you misers. lol
We should admire Elon Musk. He by his own admission is the highest tax payer in the US at US10 billion. He has created incredible wealth, appears to be a moral empathetic person and so many people here don't like him. They are sick with tall poppy disease. We can only afford hospitals by the engagement in productive activities. All we do now is tax it and destroy productivity through regulation. Currently we have a increase of 0.3 % per year. We have been in recession for 2 y with the first day 18 months a per population basis only. The helicopter money during covid has largely caused inflation. Trading houses and increasing private debt to 90% of GDP or 360 billion and ensuring the banks make 7 billion per year profit, with most of that going overseas is not going to work. Our only choice is to massively deregulate the supply of land to give cheap and available houses and commercial property that we can start small businesses on thus rebuild the economy from the ground up. To retire we must invest in the counties business and get a return as a income. We have a broken economic model and self serving local government. I have engaged in the export and productive sector in NZ throughout my life and have earned real money for the country. Real wealth! That is the only way to do it. What we have now is irreparable housing debt Squabbling over houses, creating 90% GDP private debt or 360 billion is a one way trip to hell. A government operating in deficit is not a positive direction and doesn't build hospitals The banks are making around 7 billion in profits per year with most going overseas. The housing Ponzi scheme is doomed to failure. Our yearly increase in production is 0.3%. Productive activity having been destroyed by regulation and taxation. We were in a per population recession for 18 months and now about 6 months into a real recession. Our councils are severely restricting the supply of land and have crushed the economy. We must massively deregulate and start again with cheap land and houses so we can start small businesses and be competitive overseas. I have spent my life in the export and productive sectors. Have tried to do the right thing for the nation but have seen it and so many other people's efforts wasted.
Maybe he understands that the US fed policy and the US market has a disproportionate influence on NZ. Many NZs have taken their capital out of NZ and think in US dollars and election cycles which is 4 years. Maybe you have more to learn than you think.
Mikey is a " new rich" in bitcoin, so therefore an expert on all matters relating to everything. TH-cam is full of these types. Typically they will offer token support to gold, silver and other main stream assets as a way of giving credence to bitcoin by association. He would be better off to just say that the elderly rich have too much of the wealth and the young are starving. 12 words, give or take.
Bitcoin acts more like a stock than a savings vehicle but definitely a store of value if the token perpetuates. If it does hit 200k 500k, few will remain doubters.
I am no slave. Tax is voluntary fam. There are several ways to doscontinue your imposed contribution. Do your due diligence as to how you politely decline, never refuse. the Slavery act is one avenue to look at to get you started
@BigBrother04 how about doing some research like reading the terrorism act for one thing. It is illegal to contribute to war. Where do you suppose those tax dollars go after they made it to the consolidated fund, war is just one evil its spent on. Because new Zealand is not a place but a corporation and that corporation has over 200 incomes and taxes, how is it possible to need, neigh, demand more money with such profitable industries (rhetorical) 🤔
This definitely got me a little depressed but hey it's a wakeup call as well. There's opportunities within the struggle. We moved to NZ from Canada last year, straight to residency, and part of me wants to gtfo or stick this out. Lets face it, it's expensive everywhere. Canada's not much better from what my family is telling me.
My daughter in law is Canadian. Have been following Canadian politics in the last few days - highly entertaining watching Freeland trying to explain her $40B+ budget deficit. You are correct - it's expensive everywhere.
@@ProjectFrugal too many people out here looking for reasons why their life is hard comparing themselves to others they know nothing about haha! Sad to see in a world of opportunities.
Bitcoin is great if you have it and it is booming, but as an normal money it it total madness. Currently to mine each Bitcoin uses 150 000 KWatts of electric power. WTF! We have only one planet to live on guys....
The asset holders get richer because governments increases the money supply. This reduces wages relative to the amount of money in the system. It also reduces good debt relative to the income that assets income. Unfortunately this means the last labor government oversaw the largest transfer of wealth from the working class to the wealthy.
@@o4pureh2o The increase in the money supply during Covid was to save the economy. It wasn't a normal situation. Even in non-covid times the rich get richer by wealth extraction from the poor. Just look at the Australian banks in NZ as an example.
@@billwilson1320 You do you Bill in that you choose to be rich or poor. I'm just pointing out what's happening. The government saved the economy form Who? From their own decisions?
@@billwilson1320 - No one is forcing you to bank with the Australian banks. One of the reasons I switched to Kiwibank. At the end of the day, who you give your money to makes that entity or individual richer. Reverse the situation and get people/companies to pay you instead and then you start to build wealth.
Please shorten your vids, 20 mins is ideal 👌 Or turn them into part 1 part 2 etc I cant sit for 45min at a time to watch, love the content just time poor. Keep up the great work 👍
Nothing wrong with a long one, just watch it over a couple of sessions. Or do something mundane at the same time like chopping veg for dinner or washing dishes. Heck I just finished listening to this in the shower! 😂
Taxing the rich more doesn't work. If you took all the money from the rich, and all the money from the poor, so EVERYONE started again with exactly the same amount of wealth. The majority of those who created wealth before would eventually become rich again, and the majority of those who didn't- wouldn't...
This is rubbish. "I argue against all tax" Is this funded by Atlas or something!? You guys don't pay attention to anything but your wallets. Start thinking about how taxes help support national infrastructure and the people who you grift. Shit is broken because the rich are getting richer and avoiding taxes.
![ILLSLICK X YOUNGOHM - We're The same [Official Video]](http://i.ytimg.com/vi/yUJNkobYR0E/mqdefault.jpg)
You know why there shouldn't be a CGT? Because the extra tax will be squandered by the likes of the last Labour government to the real benefit of no one. ACTUALLY, less tax is better, more independent, self determining citizens. Social welfare has now largely become a cancer.
One more thing to add about New Zealand’s low and dropping productivity, our population is getting older and speaking as a man in his 60s you just can’t get as much done in a day as when you are in your 30s.
This is my pet hate. Productivity arguments from economists are so frustrating. The calculation is effectively dollar of output per dollar of input. This would mean businesses that are able to highly leverage labor costs such as tech businesses, manufacturing businesses, where the output is not tied directly to the hours of employees generate more productivity. NZ Inc has basically closed its manufacturing capability. Our tech company ownership heads offshore as soon as it is able. Successful businesses get too big for local purchasers so sell to, so they sell overseas and then those earnings head offshore. Our farming and agriculture may be world leading, but you are getting to the thin edge of how much you can produce from the land. What is needed then is value added to those raw materials, to generate more productivity here. Fonterra moved from just milk to milk products some time ago, as an example. But even our raw tree logs and fish are sent overseas to be processed and turned into goods. Then the politicians and couch economists say everyone needs to work harder to put out more per hour of work you do but only with what you have and no business improvements to increase productivity, which just isn't possible. Businesses need to invest to become more efficient, but also focus on outputs that are worth more and cost less in terms of labor to produce. Telling staff they need to produce more or that they don't put out enough for what they cost is what holds down wages. The economy needs to be given the tools to expand its capability, leverage tech advances, leverage capital towards goods and services that are more valuable per hour, and reward staff accordingly. But neither political side seems to see it that way. The left wants to grind business down and the right wants to blame beneficiaries🤷
I wish the average bloke in NZ knew as much about economics as they know about rugby......then we might have a country we can all afford to live in......
but of course we don"t and we will become poorer as the country dumbs down to poverty......but how about those All Blacks......
We need a lot more education about personal finance in schools. Took me 44 years to figure that out unfortunately.
💯
@@ProjectFrugaleven more importantly, we need to understand the macro as well. Are you across professor Michael’s Hudson work in debt? Red pill.
AH WELL PUT
All Blacks is life mate.
Still unvaccinated 😂
Same, but it's more than likely that it's in our food water or air... something bud
"Me making you poor doesn't make me rich" 🎯🎯🎯 it's also doesn't make you virtuous or kind.
There's a reason why this channel and others like it exist - it's to help teach people with poor financial literacy how to do things smarter. Unfortunately it's been completely lost by the glass half full broke socialists who have nothing better to do than moan and chuck in their 2 cents in these comments instead of looking at ways to improve their personal financial situations. "It's always (insert someone else / government /companies) fault" they cry without ever looking in the mirror and doing a budget and some forward planning.
Exactly
I can do both, I complain about the government wasting my hard earned money and I budget and put in effort to increase my income and savings.
@@aforum4459 - Multitasking - I like it! :)
The mirror thing is on the mark - I usually say most peoples' problems are down to the person in the mirror, and the more problems they have, the more likely that's so.
Not everyone can figure out a way to get other people to make them money, but they can figure out how to make the most of what they have to work with - helping them helps everyone..
@@gordowg1wg145 - Start small. $10 in a high interest savings account and you get paid albeit a very small amount over time. $10 is better than $0.
The best i am doing is is showing my 20 year old daughter how to invest in the US markets and how compounding works, she has taken a keen interest in finding good companies. I now know if I am not around she will have a better future built by herself. You can not rely on any Government to look after you.
We need to lower tax and make our politicians accountable for the tax money they spend. Also they should be audited to find out where the money has gone
I have a house in Dunedin I renovated 5 years ago. (workers cottage type thing in the city center) It’s really awesome, and I rent in Brisbane for now, but I can’t wait to move back and live in that house. It is so much nicer than where I live now. You guys actually have oxygen particles in your air.
For a while, I used to get excited about rising property values and the idea of getting richer. I also own a block of land in Victoria, and while I have two mortgages on the house and land, they aren’t huge. I’m in a pretty good position overall.
When I’d hear people saying, “New Zealand is going downhill, we’re leaving for Australia or elsewhere,” I used to worry about how that might affect my primary investment. But then I started thinking about what I love about New Zealand in the first place.
Greater Brisbane has a population of 3 million. The roads are congested, and traveling to the coast or hinterlands often feels like a mission. Global warming is real-the nights are getting hotter, and the days can leave you tired from the heat and headaches from sweating. In contrast, New Zealand’s relative quietness is its charm. It’s one of the most beautiful places in the world, and the last thing I want is for property values to skyrocket another 200%. Stagnation might not be great for some, but for others, it preserves the peace and balance that make the country so special.
New Zealanders have an almost spiritual connection to the land-something that has drawn back many of my family members. While I think the economy has taken a hit recently (partly my fault-I voted for Jacinda at the time as well), the country still has its social values together, and that’s worth something.
That said, New Zealand needs to focus more on supporting primary producers, farmers, and enterprise. The constant race-baiting from both sides is a distraction from the real issue: ensuring everyone has the means to thrive and enough to eat. At the end of the day, Kiwis all need to work together to put food on the table for the nation.
New Zealand will be fine if people keep growing and making things. The hospital in Dunedin is a great example of where a state-of-the-art resource is needed to complement the university there. Unfortunately, it seems like a case of financial mismanagement and short-sightedness. I hope they sort it out and build it as planned.
Buy some Garmin Depth Finders for your Naval Fleet as well. Those things are awesome, I have one on the Yamaha. Haven't hit a reef yet. That could save a few hundred million.
End rant.
why is luxdon getting rid of his rental properties ,does he know something we dont know coming down the pipe ?
The stock market will own a lot of housing.
Have precious metals and tangible assets. Stuff you’re going to need in the future will not get cheaper so get it now while you can.
If you don’t hold it, you don’t own it.
Buy non perishable food and store it. I have grocery receipts from 5 yrs ago when most items were half the price.
Buy land where you can grow your own food and live off grid.
Be as self sufficient as you can and keep an open mind on new opportunities.
Government is such a massive over bloated money wasting machine and the bigger it gets the more money they need from every day hard working people
Something that's never mentioned is to hold on to tools, survival equipment, and survival medicine books.
Top tier content guys. I like that you get straight into it too, no fluffing around
"What we actually need is some efficiency and brain power" YES!
You can buy gold bullion very easily in Auckland. And selling it is more of a ten year plan.
Since 2015 gold has not kept up with inflation even with the last little gains it made,the supply increases by 2% a year, does not sound like much but 2% of 14 Trillion is significant.
Never rely on the state to "provide". You have to make it happen yourself and it usually involves "work". The latter being a foreign concept to a lot of people in NZ.
If it was up to the likes of you NZs national assets would be sold off to the private sector and screw everyone but the wealthy.
NZs foundations were built nf social welfare,providing a buffer for those less fortunate or out of work.But you lot would scrap that for the 1% to take over our cou try and turn it into little America.Just gross
What a ridiculous comment.. Why are we experiencing the largest immigration of kiwis to Australia.. because of higher wages and employment! Kiwis are known to be good workers..
@@adrianfairlie1584 - Not all Kiwi's are good workers or work at all. People who get off their backsides and make things happen are better off in the end that those that do nothing and expect the state to provide (which was my point in the first place). Australia might be the golden goose for some people but not for everyone and it has its downsides as well.
@ProjectFrugal Every society has issues with mental health and poor education ,which is why education is important and giving school lunches is a great idea or do you not agree ?
@ProjectFrugal We are known around the world as good workers. Don't diminish the hard work of kiwis with your poor statement..👍
Capital gains tax has not worked around the world so why should it work here , people should look after their own wellfare and live within their own means
Enjoyed listening, refreshing.
You guys made me laugh. You guys are spot on the money. The future is all over the place and everyone is trying to survive.
She's going to be a fun decade ahead 😂
Hey mate nice to see a couple onto it kiwis i feel like alot of rhos stuff we dont understand and when you try to educate yourself ,we are told dont bother looking its all misinformation...thank you guys...
🇳🇿🤝🫡
@mikeysmithnz50 🫡
Great talk . The saying is " The only true sin is waste ". Why waste our valuable time in a country that is now not what it used to be , now with a corrupted system. A group of my mates discussed these things when we had a farewell dinner to NZ in 1975 . I created my wealth overseas came back to NZ when Roger Douglas advocated bringing in GST and have a Flat 20% tax for the people. I stayed in NZ for 20years building a group of over 20 companies. After the Christchurch earthquake fiasco I left NZ to start a new life of freedom . Go to a country where you are treated best , vote with you feet, its a ,good start. The private Reserve Bank did not exist when my ancestors moved to NZ in the 1860's.😃
You’re missing the key points?
We don’t have to ‘take Elon’s money’ - but we do need catch up on all the capex investment that was abandoned after Muldoon. So, if we need to do that, if we need to correct for market failure - which we do - then how are we to do it? Because it needs to be done.
Strategic use of Sovereign debt and progressive taxation seems sensible. Look at the new deal, the top 1% was paying 90%, and they were still rich. Meanwhile, the US made a huge leap in its infrastructure, preparing for its imperial role post ww2. Why is our top tax rate only $170k? I’m pretty sure some earn much more than that. Even more importantly (?), if everything is a private monopoly, are we paying more or less for it? Public monopolies - when structured properly - lower the costs of life and business. Somehow the banksters have convinced us that the ‘free market’ is private monopolies. But the free market of classical economists was the opposite; theirs was a market free of monopolies/cartels.
We be gaslit, on many levels, it seems.
Glad o spent last 15 yrs travelling completing bucket list
CGT has been in Australia for years. There are several ways to calculate the amount due after the sale of property etc. It depends a fair bit on your taxable income amount for the relevant financial year and then the CG made in the same financial year is added and the tax on the total amount calculated.
Yes, but the argument that a CGT will make property prices affordable, is that true in Australia? Australia has CGT, but are their property prices affordable?
50% CGT discount if the asset has been held for a minimum of 1 year and 2 days .
@thriftest Next year CGT will have been in Australia for 40 years. I have sold 3 properties in Australia between 2005 and 2021, about to sell another couple- CGT is only payable regarding investment properties (i.e. any property which is not your principal residence). Principal residence is always exempt and also when purchasing pay minimum stamp duty. I had to pay 25k on the sale of land I sold once but I had doubled my investment amount in just 4 years. Most property prices in Australia are through the roof and they keep going up so it only takes a few years before you pick up another 100k or more in property value, this can be several 100k more in some areas. Just need to buy in a suitable area. I don't think CGT is fair at all as the owner is risking everything and it does cost and can be concerning at times because markets can change quickly. But saying that there is nothing we can do about paying CGT when it is due.
@esskayaussie286 thanks for that thorough reply. Understand there is tax revenue generated, my point was that advocates for introducing a cgt in NZ say it is because they want housing to become affordable. What you are saying is no, values are still through the roof. So the argument for a cgt must be that it has little or no effect on property values, but that it taxes people that sell houses. If anyone says a cgt pushes house values down, there is no evidence.
@@thriftest Agree. CGT does not push property prices down. That's BS. Makes no difference to prices at least as seen in Australia as the demand is too strong. Only thing that would push prices down is a massive increase in housing supply and maybe increase interest rates to reduce borrowing demand. In Australia if you have to pay CGT, it is calculated taking into account all holding costs for the property during the time of ownership (all tax deductions include, rates, water, mowing or other maintenance costs, insurances etc) all these come off the CGT which might be due. Anything that was an ongoing expense while you owned the investment property. So that helps.
A message to young people “Lay flat” don’t try to climb the mountain, the mountain will come to you. See what’s happening in China, the property market has collapsed when it got to the stage that young people could never afford the 12 average years of income to buy an apartment that is a 90 year lease
70 years, and the CCP own the land.
Everything going to zero, mother of all crashes… best thing is to become self sufficient
Gold & Silver
The total Māori package this year is just over $825 million.
These are not serious people. Grifting has a nz face
You're welcome 🤝
@@jaydoolies6973 and the guy doesn't even know the NZ parliamentary term is 3 years. It's all armchair talk
You have more to learn than you think. We don't know what we don't know.
Just fine the poor for tax evasion and the country will be rich.
Well how bout this we instead have those tesla homes, no power bill cheap. modular. Nice 0.5ha each for that guardian and that beast, AAhhhhhh. What is wealth friends...good on you two, this is important for kiwis to hear from not the old and grey BBs.
You can't have a viable economy by competing for housing and accumulating 360 billion or 90% of GDP in private debt to pay for it. Or by having regulations that massively restrict the supply of land for housing and business. The reason that we are in recession is perhaps because we are so restricted by what we can do and the cost that we are wilting under this load.
NZ has become used to a continuous supply of money being created by banks to fund mortgages via low interest rates and steady immigration to prop up the economy that we have forgotten that real wealth comes from productive enterprise. Not from a housing Ponzi scheme which has all of the wealth flowing to property owners and banking profits now at 7 billion annually.
Unfortunately we have squandered our productive sector, abused it, regulated it and taxed it as if can withstand anything and will always be there but unfortunately it is no longer sufficient for the government to run a surplus and pay of debt. We must deregulate, free up the supply of land, breaking the councils control and start the economy again from the ground up with numerous small businesses operating freely without harassment by regulation and high rents.
The most important thing is to gain a skill that will obtain you a job that will pay a decent wage that will allow you to get ahead financially and eventually start your own business .
@@Stormer1633 Think positively .
there is already a captial gains tax on property in the UK and a stamp duty when you sell. its inheritance tax that has been brought in as farmers have been exempt I believe.
Mean one boys!
Excellent discussion guys. Lots of people in the comments that don't even begin to know how much they don't know.
Thanks mate 🤝
the times have indeed changed, what is growing in value should be accumulated, land, property, gold and silver, etc
Great vid but too much swearing
Good call. I'm making a conscious decision to dial it back massively from now on 🤝
Out of the abundance of the heart, the mouth speaks.
Well don't watch it then if the bad words hurt your feelings
Hurty words
Meh, anyone who lives in the real world swears just as much if not more than these guys.
Good show lads
So cathartic to listen to. Thanks for the swearing, honestly
There are two forms of earning an income: 1) Value added through working or innovation. 2) Rent seeking. Adding no value.
NZ effectively taxes #1 at 39% and #2 at zero. So yes lower tax on hard work and businesses but also let's tax the landlords who suck the wealth from everyone else. Land value tax would be ideal as landbankers benefit from the hardword of everyone in the neighbourhood around them. I'm on a 39% tax rate and get fuck all for it; The healthcare system, justice system and education system are all fucked and there is very little career growth since NZ tax the shit out of anything productive.
39%!!! fark that
Yeah the boys 🤙
Having USD or NYSE investments you definatly notice the currency sliding, I think we are almost touching 57cents today. Im not sure what plans we have for how we are going to fit into the global market in the future but... looks tough.
Please listen, ETF's and crypto are the new gold. Defi...
PS if capital gains come to play, I'll keep my investments in the US!
No coincidence inheritance tax comes around as one of the wealthiest generations dies off. Lesson learned spend it all!
Put it in a family company or trust.
I want to stay and help fix this place, i kind of like it here.
Hay just found your pod, love the conversation.
QQ ?, Nz owes like over 180 Billion - who do we owe that to ?, plus if its our right to print, why do we borrow at all?. Cheers.
🫡🇳🇿🤝
great vid, I was a bit triggered by the title, was pleasantly surprised.
Love your channel
What about the Argentinian trick.Devalue the currency ( not increase printout).Benefit increased earning from exports,but it would result in increased costs for imports
Don't deal in ETF's, it's critical to have your hands on your assets. If the banks go down they and any hedge fund will burn your money because they own it on paper and you don't physically hold your assets. Just like Bitcoin if you don't hold your keys it's not your Bitcoin. Let's try to be smarter ffs!
Investing in gold before the worlds banks collapse and bring in a new system around digital I.D will save you losing that money that was sitting in a bank.
All fiat currency goes to zero... Not a tough question.
Lol, humans will never be able to kill the planet, just ourselves!
You guys watched "the grab" doco? the national secruity comment tells me you would like it!
Can you please make another video about your views on margin loans?
The asset holders get richer because governments increases the money supply. This reduces wages relative to the amount of money in the system. It also reduces good debt relative to the income that assets income. Unfortunately this means the last labor government oversaw the largest transfer of wealth from the working class to the wealthy.
Why didn't I take some action? Well my family (adult kids) and I are paying our landlord $65k a year for 2 houses built in the early 1960s, that the landlord has owned since she inherited them about 50 years ago. I have thought about trying to save a dollar a week, but I do like chocolate 😃
Can still take action. It's in your hands to try make more money. Luke says it all the time. Or you can sit and change nothing. Your choice.
Exactly
Australia.
Bring in Japanese innovation n efficiency productivity expertise? I was amazed at their advancement n productivity innovation in my recent holiday trip there
Bitcoin is not money... Gold and Silver for example are money, anything not tangible is currency.
It’s not money it’s a store of value and a much better one then gold or silver
Where do you buy your gold and silver from? You ever worry about storing it?
I'm a metals guy but bitcoin curious - what happens to bitcoin wallets if (when) the power goes out down the track? Or is it a case of - if that happens we're all flocked anyway so it doesn't matter what you're holding? It'll be back to spears and clubs.
@@hoozleup I acquired an Ant-Miner back in 2016 I ran it 24/7 till the Asic cards blew up at the time it barely made enough to cover the power bill I transferred the coin to a bitcoin wallet on my phone and left it in there for 8 years.
Last month I cashed that coin in they paid me $ 3000.00 for it so its Merry Christmas for me.
@@hoozleup that’s what I’ve wondered 😅
5:54 Only took man 10sec to describe english citizens now experiencing what Maori experienced during WW1-2 🤦
You don't mention Gold and silver much.
Bitcoin fixes this.
Cap local council members income.
If capital gains tax doesn't affect property prices than Wires New Zealand with some of the most generous capital gains tax in the world have some of the most expensive property?
Quantitative easing, unconventional monetary policy etc by the RBNZ and the high tax by government. This all incentivises investing in property. If you go to the grocery store you will see that it's not just property that's going up, how will capital gains tax reduce food prices? CGT will actually increase rents if landlords are having to pay more they will have to pass that on to tenants because most borrow to buy rentals or costs of repairs etc go up for them too.
@@aforum4459landlord's don't pay capital gains tax. Ex-landlords pay capital gains tax. Capital gains tax isn't a cash flow expense. If you want to talk about what affects how much rent landlords need to charge you need to look at cash flow
Supply and Demand. The market decides.
@@ProjectFrugal that's a total non answer
@@aforum4459 capital gains tax isn't a cost for landlords. It's a cost for ex-landlords. It's only paid after a property has been sold.
Capital gains tax encourages speculation not cash flow investing which is what renting is.
Stock markets crash so are risky, the great depression showed us how real estate value crash, all fiat currency including USD/NZD inflate themselves to zero, Bitcoin is doomed by quantum computing and its value being backed by nothing, gold is the only time tested preserver of wealth, gold is real money that holds its value as it has done now for more than 5000 years.
How about preventative maintenance guys, how about solutions! You talk tough and bag other people and don't offer any idea's around the root cause of the problem. The problem is NZFR printing Quantitative easing and the banks ability to bail in off the backs of people's life savings. If debt is a solution in your opinion please explain, if Bitcoin and cryptocurrancy are good for self custody and control of one's own finances. Talk it up, you sound as confused at the end as when you started. Get real. Taxes don't work, just like councils don't work. In fact nearly all of New Zealands councils are running bankrupt. They are being used to further control society and once people can't afford rates they will have us arrested and thrown out of our own homes. The government is corrupt. Politicians must not be trusted to make sensible decisions they will offer more government jobs and say employment is looking up just to keep there own jobs, when in fact they are the problem. It's high time kiwis stood up and told these so called public servants to fk off for good.
He has plenty of action steps. Listen for them.
I agree with your excellent feedback
Capitalism needs restrictions and better distribution. Everybody needs to own a portion of the company or capitalism will abuse the real only value labour for less then it's worth. Otherwise we're stuck in continued increased wealth inequality that's exploding out of control. Huawai and China is a good example of evolving into this. The moral value of billionaires is completely off and is from a broken system being abused at the expense of everyone else. Capatilism also leads to bias govements that are not in the best interest of most people and more towards doner cooperations. Like we can see with National. Fast tracking, canceling smoke free NZ etc
Unfortunately, people do not own the value of their labour. You seem not to understand that the value of labour is based on the global market and cost competitiveness compared to automation. If you want to make wage rates increase, you need to tackle the issue of able foreign workers' ability to do the jobs for less, which sets the value of labour.
@carl3941 I'm thinking people always own some kind of percent of the company and thus there labour. Like Huawei.
@@VanDynamoPlayer They can assuming it's a public company. If the employees don't feel they get paid enough then they can offer their services elsewhere. That's one of the good things about capitalism - the market decides.
@@ProjectFrugal why can't it be salary and a percent and you can still go elsewhere if you want. Also not sure if your trying to say capitalism favour's workers?
@@VanDynamoPlayer - A very small percentage of companies offer that but it's a tiny amount. Workers are free to pick and choose who they work for. If the employer doesn't pay enough or provide enough benefits then they go somewhere else. Employers are risk takers and have a vested interest in ensuring their business succeeds. Unfortunately a lot of them don't succeed but that's the nature of business. Providing something of value that someone needs or wants.
Capitalisum works ......... Full stop.. tell me where socialisum has worked... And don't say nordic countries .. they are rich capitalists
So, you’re excluding the social democracies and offering the illusion of choice? Ok. China. Vietnam. Both communist, and capitalist. Ditto Marx, he was a classical economist and a socialist: what does that mean? It means, on one level, public monopolies of public infrastructure and public finance to lower the cost of business and life. Call it capitalism that works, and that’s what China has done.
Yeah what's happening in New Zealand ,is rugged individualism for the masses and socialism for the big boys and corporations. Capitalism doesn't work well with overseas monopolies subsidised to invest in non productive industries ie residential property and finance sector
@hamishfullerton7309 Hamish it's not capitalism that is letting you down it is poor government and greed .. which is the same in socialism . People need to hold our law makers and politicians to account ..
Tax is the price of civilization. If you don't like it, go live on an island.
Spoken like a true employee
@@geoffwhite1350 Self-employed actually. If you want to live in a half-decent country, you got to pay taxes. Where else do you think the roads, parks, law, police etc comes from. Oh, and the pension should also be means-tested you misers. lol
Which one? North or south 😂
Taxing Elon an extra billion won't make him poor.
Wouldn't make any American richer either, except maybe Hunter Biden, hence idgaf😂
We should admire Elon Musk. He by his own admission is the highest tax payer in the US at US10 billion. He has created incredible wealth, appears to be a moral empathetic person and so many people here don't like him. They are sick with tall poppy disease.
We can only afford hospitals by the engagement in productive activities. All we do now is tax it and destroy productivity through regulation.
Currently we have a increase of 0.3 % per year. We have been in recession for 2 y with the first day 18 months a per population basis only. The helicopter money during covid has largely caused inflation. Trading houses and increasing private debt to 90% of GDP or 360 billion and ensuring the banks make 7 billion per year profit, with most of that going overseas is not going to work.
Our only choice is to massively deregulate the supply of land to give cheap and available houses and commercial property that we can start small businesses on thus rebuild the economy from the ground up. To retire we must invest in the counties business and get a return as a income.
We have a broken economic model and self serving local government.
I have engaged in the export and productive sector in NZ throughout my life and have earned real money for the country. Real wealth!
That is the only way to do it.
What we have now is irreparable housing debt
Squabbling over houses, creating 90% GDP private debt or 360 billion is a one way trip to hell.
A government operating in deficit is not a positive direction and doesn't build hospitals
The banks are making around 7 billion in profits per year with most going overseas. The housing Ponzi scheme is doomed to failure.
Our yearly increase in production is 0.3%. Productive activity having been destroyed by regulation and taxation.
We were in a per population recession for 18 months and now about 6 months into a real recession. Our councils are severely restricting the supply of land and have crushed the economy.
We must massively deregulate and start again with cheap land and houses so we can start small businesses and be competitive overseas.
I have spent my life in the export and productive sectors. Have tried to do the right thing for the nation but have seen it and so many other people's efforts wasted.
Is it too late to try and change new zealand when comes to "help and provide solutions"
BRICS
bro, you should at least know how long an election cycle is if you want people to think you know what you are talking about 🤣
Mikey loves his politics so much he doesn't know how long the term is haha!
@@keepthechangenz 🤣🤣🤣
Maybe he understands that the US fed policy and the US market has a disproportionate influence on NZ. Many NZs have taken their capital out of NZ and think in US dollars and election cycles which is 4 years. Maybe you have more to learn than you think.
Edited
Mikey is a " new rich" in bitcoin, so therefore an expert on all matters relating to everything.
TH-cam is full of these types.
Typically they will offer token support to gold, silver and other main stream assets as a way of giving credence to bitcoin by association.
He would be better off to just say that the elderly rich have too much of the wealth and the young are starving.
12 words, give or take.
Bitcoin acts more like a stock than a savings vehicle but definitely a store of value if the token perpetuates. If it does hit 200k 500k, few will remain doubters.
Three American banks failed last year. The stockmarket and bitcoin crashed. Gold and silver held up well.
I am no slave. Tax is voluntary fam. There are several ways to doscontinue your imposed contribution. Do your due diligence as to how you politely decline, never refuse. the Slavery act is one avenue to look at to get you started
Please elaborate 😂😂
Finally someone hinting at what is true! 🙃
@BigBrother04 how about doing some research like reading the terrorism act for one thing. It is illegal to contribute to war. Where do you suppose those tax dollars go after they made it to the consolidated fund, war is just one evil its spent on. Because new Zealand is not a place but a corporation and that corporation has over 200 incomes and taxes, how is it possible to need, neigh, demand more money with such profitable industries (rhetorical) 🤔
This definitely got me a little depressed but hey it's a wakeup call as well. There's opportunities within the struggle. We moved to NZ from Canada last year, straight to residency, and part of me wants to gtfo or stick this out. Lets face it, it's expensive everywhere. Canada's not much better from what my family is telling me.
My daughter in law is Canadian. Have been following Canadian politics in the last few days - highly entertaining watching Freeland trying to explain her $40B+ budget deficit. You are correct - it's expensive everywhere.
Just buy xrp and Bitcoin and doge coin you wont regret it
Xlm and h bar are rely good investment s
Bugger that, gold and silver is real money!! Crypto is a sideshow /distraction
Free market dribble. How many properties do you use to suck rent from working people so you can talk crap😮
Sorry to admit - I am a renter and down own a property. Forgive me!
@@keepthechangenz - Own goal there from the OP ;)
@keepthechangenz so I should take financial advice from you 🤪😂😂😂😂😂😂
@@gordoncooke6785 you don't have to. But find someone who can help you :)
@@ProjectFrugal too many people out here looking for reasons why their life is hard comparing themselves to others they know nothing about haha! Sad to see in a world of opportunities.
buy bitcoin and HODL
Bitcoin is great if you have it and it is booming, but as an normal money it it total madness. Currently to mine each Bitcoin uses 150 000 KWatts of electric power. WTF! We have only one planet to live on guys....
This title is bad click bate titles suck
The rich get rich by extracting money from the poor.
Trickle-up economics,........it's how it works in NZ.
The asset holders get richer because governments increases the money supply. This reduces wages relative to the amount of money in the system. It also reduces good debt relative to the income that assets income. Unfortunately this means the last labor government oversaw the largest transfer of wealth from the working class to the wealthy.
@@o4pureh2o
The increase in the money supply during Covid was to save the economy. It wasn't a normal situation.
Even in non-covid times the rich get richer by wealth extraction from the poor.
Just look at the Australian banks in NZ as an example.
@@billwilson1320 You do you Bill in that you choose to be rich or poor. I'm just pointing out what's happening. The government saved the economy form Who? From their own decisions?
@@billwilson1320 - No one is forcing you to bank with the Australian banks. One of the reasons I switched to Kiwibank. At the end of the day, who you give your money to makes that entity or individual richer. Reverse the situation and get people/companies to pay you instead and then you start to build wealth.
@@o4pureh2o
"You do you Bill in that you choose to be rich or poor."
Does that even make sense?
Sorry, you've lost me mate 😉
Play pokies
Please shorten your vids, 20 mins is ideal 👌
Or turn them into part 1 part 2 etc
I cant sit for 45min at a time to watch, love the content just time poor.
Keep up the great work 👍
Chuck them on double speed legend. Easy :)
Nothing wrong with a long one, just watch it over a couple of sessions. Or do something mundane at the same time like chopping veg for dinner or washing dishes. Heck I just finished listening to this in the shower! 😂
Taxing the rich more doesn't work. If you took all the money from the rich, and all the money from the poor, so EVERYONE started again with exactly the same amount of wealth. The majority of those who created wealth before would eventually become rich again, and the majority of those who didn't- wouldn't...
Where is your evidence?
This is rubbish.
"I argue against all tax"
Is this funded by Atlas or something!?
You guys don't pay attention to anything but your wallets.
Start thinking about how taxes help support national infrastructure and the people who you grift.
Shit is broken because the rich are getting richer and avoiding taxes.
I am the CEO of Atlas. Did you not know that?
@mikeysmithnz50 sure Brad, just pay your taxes. Avoiding them doesn't make you clever, it makes you a worm.
Government needs to just provide protection and enforce law. Nothing else imho
@benwilliams1264 road? Hospitals? Schooling? Health care? Or let me guess you think that should all be profit-based?