Its terrible. Ignorant woman interviews people that all agree with her and share the same ignorance. Woman paid by government is pro government getting more money...shocking. It's disinformation funded by the government.
Superb piece Alice. It's beyond fucked that a minimum wage earner will pay 14% tax on their income, while someone who buys some land, sits on it, and does nothing, pays zero tax. A land tax (allocatively efficient, equitable, easy to administer) would make houses affordable, and be used to reduce income tax on everyone. But Labour won't do anything to make houses affordable.
Great conversation starter - in Rarotonga, the land is leased to the people for beyond their lifetime, and the right of renewal goes to their family. Once I have paid off my mortgage I plan to explore how I can give the land back to the Iwi and get a peppercorn lease (maybe rates only?) from them for the duration of my life. I would want them to put a covenant on the land that it must maintain a level of biodiversity and self-sufficiency. That would strengthen them as asset holders and make them more powerful influencers of the council. I trust Iwi decision-making far more than local council - they are not "career politicians" and make decisions intergenerational.
Yeah this is the kind of lease arrangement I'd been thinking about too - though I'd never heard the term peppercorn lease until now, I love it! I know of land trusts overseas that have used various covenants to limit development, promote biodiversity, or keep the land used as farmland... but to be honest I'm also interested in making more affordable housing available, which could mean adding more dwellings onto a property that's already been cleared... these are all important conversations, and I wish it were easier to find actual case studies!
I'm not sure I understand properly. You want to give the land back and put a covenant on what they're allowed to do with it? That wouldn't be land back. If you know that the land rightfully belongs to them, then why would you try to knee-cap their sovereignty over it? Or do you mean you would give it back and hope that they put their own covenant on it that's focused on biodiversity and self-sufficiency? That makes some sense to me, but I guess that's entirely their decision on the best way to use that land for their people. I definitely agree though, ultimately Iwi will make far better decisions about all of those questions than any local council or politician who is focused solely on maximising the short-term economic exploitation of everything they can.
“We have the most expensive housing in the world. We are the only country in the world that doesn’t tax capital gains. We’re the only country that doesn’t tax land or have an estate tax” Bernard Hickey spitting straight facts.
This is great! Feels like the conversation only just started though, will there be more on this topic? Would have loved to have seen the conversation go deeper, IE: further questions on how Labour expect to improve the problem, and the rate of change, rather than tread water.
Amazing stuff - very subtle and elegant burn to the Minister of Finance - that manegerial, centrist, control freak, who has spent so much money on consultants and whoppingly expensive administerial centralisation and done absolutely nothing to move the Overton window.
I love this episode, thanks! I'm curious about how the actual logistics of small-scale, private #landback arrangements work (or could work) in Aotearoa, including situations where ownership of the land is separated from ownership of the buildings. Could anyone point me toward actual examples?
China. Though that may not be a great example for other economic reasons. Some German states (better example) have state ownership of land but not buildings.
@@vivwinsome2363 Thanks, yes this is true! What I am looking for is actual examples where people have gone through the legal channels to gift "their" land back while maintaining "ownership" of the buildings, which could be bought or sold at much reduced rates, keeping them out of the speculative market. I've researched community land trusts overseas, I just haven't found that many real, live, functioning examples or pilot projects here, particularly involving people who have title to smaller, residential sections with houses on them...
Maybe it's logistically easier to just gift the whole thing to your local Iwi in your will, rather than split it while you're living there? They could choose to rent it out as a regular landlord, or sell the house as a leasehold property (or anything else that they feel would be best). But yea it's an interesting question. I guess if it became more common then Iwi could create a process for people in their rohe.
Good watch Alice, but a bit of constructive criticism is that you've not really explored the flow-on economic impacts of the current system. It would have been good to hear from someone such as an independent economist to explain how much other economic activity in NZ is driven from people borrowing against their homes for things like holidays, boats etc and the serious impacts a major house price fall would have on all other areas of the economy. We're in a serious pickle. Also a bit disappointed you didn't ask Grant if he thought his COVID policies, such as 6 month repayment deferrals for home owners, were a contributing factor to the massive price increases in property during 2020 and 2021.
@@bubblesnz1059 right ok here goes the rich hardly pays tax and the government help them .also the government dont pay there energy bills or any bills as they put it down as expenses. the poor are on there knees as they pay tax on everything now look now even middle class with 2 people working are usong food banks and havnt got spare cash
Terrible, just terrible, like LITTERALLY in the same sentance where she cries poverty she goes and talks about how terrible she is at spending and then goes and buys a shirt?
Alice Snedden, No one is stopping you donating money to good causes. You don't need the government to force you and waste it on ineffective policies that make things worse.
Labour campaign on capital tax twice and both times kiwis voted in national. I don't blame jacinda ardern ruling it out. More kiwis need to understand our tax system. Mainstream media and the opposition party's lies on kiwisaver gst fee's a prime example.
They were also polling terribly and facing a very popular John Key PM when they lost, why assume that CGT had anything to do with it? Nearly half the country (likely the bulk of Labour's voters) are in favour of CGT, it's not like you have to change everyone's minds, just a small number of "centrists". Jacinda ruling it out was cowardly. It was a decision to lock thousands of people into poverty so that she didn't have to bother trying to explain and sell a few people on CGT. She didn't even need to rule it out "in her political lifetime" she could've ruled it out for the first term and revisited it in 2020. It was a massive, unforced error that delayed meaningful action on wealth inequality and poverty by at least a generation, while we wait to see who ends up in charge of the seventh Labour government in 12-18 years time. Hard to imagine what the state of poverty and inequality will be like by then if it continues to grow at these historic rates, but sure, at least it made Jacinda's life easier in 2017.
@@waori anybody who follows politics know that taxes on anything especially the housing market know it is tough politically. Just the question do you believe that house price should drop is avoided from both lab/Nats to answer. If cgt was a vote winner why is the green party always hovering around 8-10% in votes? Status quo won john key 3 terms, cgt won't solve inequality.
Is wealth a zero-sum game or not ? By approaching this wealth gap problem with the assumption that yes it is zero sum ie there is a fixed amount of money in this 'economy' then how do we redistribute it, (more fairly) ?, because of course rich people have too much ect ect poor people need more, let us all just tax the rich that will solve the problem. WRONG, this starts with wealth being a positive sum gain for all parties involved, grow wages, grow supply, grow the economy and prices will reflect demand inputs that are neutral or with less growth rate while supply increases so prices are in a net lower equilibrium. THIS will go a long way to reducing the 'wealth gap'.
How does buying some land, sitting on it, and selling it for tax free gain create jobs? The lack of capital gains/land tax hurts businesses too. Why on earth would someone start a business (they'll be taxed at 28%), when they can put their money into land/houses for tax free gains?
That's not true? We have benefits, working for families and pensions. Government money isn't all "wasted" on direct spending like schools and hospitals. And even if they were to "waste" it, it still goes somewhere. Rich people are going to waste it anyway (or worse, use it to buy even more rental properties) so nothing is lost by taxing it.
@@oliverwilson11 tax the rich is code for ensuring less Americans become rich and participate in the political process. No rich people don't waste as much as the government would. More could be rich. I guess you dont understand how things would be without the regulations that are pushed to destroy competition and keep the oligarchy in power.
@@AnonYmous-xs8nx that can only happen with regulations. If the land is owned by those that would work it and use it to produce, the ones that use regulations to control prices could not take any land that was owed by individuals
that's just bs. You don't consider our hospitals, schools, roads, energy system, airports, roads as government spending ffs. there's things we can not ever do as individuals and rely on a government to do. our climate crisis will never be solved with your approach
Blardy brilliant Alice! NZ ON AIR needs to fund your shows permanently
Its terrible. Ignorant woman interviews people that all agree with her and share the same ignorance.
Woman paid by government is pro government getting more money...shocking.
It's disinformation funded by the government.
Superb piece Alice. It's beyond fucked that a minimum wage earner will pay 14% tax on their income, while someone who buys some land, sits on it, and does nothing, pays zero tax.
A land tax (allocatively efficient, equitable, easy to administer) would make houses affordable, and be used to reduce income tax on everyone.
But Labour won't do anything to make houses affordable.
Great conversation starter - in Rarotonga, the land is leased to the people for beyond their lifetime, and the right of renewal goes to their family. Once I have paid off my mortgage I plan to explore how I can give the land back to the Iwi and get a peppercorn lease (maybe rates only?) from them for the duration of my life. I would want them to put a covenant on the land that it must maintain a level of biodiversity and self-sufficiency. That would strengthen them as asset holders and make them more powerful influencers of the council. I trust Iwi decision-making far more than local council - they are not "career politicians" and make decisions intergenerational.
Yeah this is the kind of lease arrangement I'd been thinking about too - though I'd never heard the term peppercorn lease until now, I love it! I know of land trusts overseas that have used various covenants to limit development, promote biodiversity, or keep the land used as farmland... but to be honest I'm also interested in making more affordable housing available, which could mean adding more dwellings onto a property that's already been cleared... these are all important conversations, and I wish it were easier to find actual case studies!
I'm not sure I understand properly. You want to give the land back and put a covenant on what they're allowed to do with it? That wouldn't be land back. If you know that the land rightfully belongs to them, then why would you try to knee-cap their sovereignty over it? Or do you mean you would give it back and hope that they put their own covenant on it that's focused on biodiversity and self-sufficiency? That makes some sense to me, but I guess that's entirely their decision on the best way to use that land for their people. I definitely agree though, ultimately Iwi will make far better decisions about all of those questions than any local council or politician who is focused solely on maximising the short-term economic exploitation of everything they can.
“We have the most expensive housing in the world. We are the only country in the world that doesn’t tax capital gains. We’re the only country that doesn’t tax land or have an estate tax”
Bernard Hickey spitting straight facts.
So glad this series is back.
This is great! Feels like the conversation only just started though, will there be more on this topic? Would have loved to have seen the conversation go deeper, IE: further questions on how Labour expect to improve the problem, and the rate of change, rather than tread water.
Amazing stuff - very subtle and elegant burn to the Minister of Finance - that manegerial, centrist, control freak, who has spent so much money on consultants and whoppingly expensive administerial centralisation and done absolutely nothing to move the Overton window.
What a political hack comment.
I love this episode, thanks! I'm curious about how the actual logistics of small-scale, private #landback arrangements work (or could work) in Aotearoa, including situations where ownership of the land is separated from ownership of the buildings. Could anyone point me toward actual examples?
Its a lot like how you pay for a lifetime lease at a retirement village
China. Though that may not be a great example for other economic reasons.
Some German states (better example) have state ownership of land but not buildings.
@@vivwinsome2363 Thanks, yes this is true! What I am looking for is actual examples where people have gone through the legal channels to gift "their" land back while maintaining "ownership" of the buildings, which could be bought or sold at much reduced rates, keeping them out of the speculative market. I've researched community land trusts overseas, I just haven't found that many real, live, functioning examples or pilot projects here, particularly involving people who have title to smaller, residential sections with houses on them...
See my comment above - Rarotonga do this : )
Maybe it's logistically easier to just gift the whole thing to your local Iwi in your will, rather than split it while you're living there? They could choose to rent it out as a regular landlord, or sell the house as a leasehold property (or anything else that they feel would be best). But yea it's an interesting question. I guess if it became more common then Iwi could create a process for people in their rohe.
Good watch Alice, but a bit of constructive criticism is that you've not really explored the flow-on economic impacts of the current system. It would have been good to hear from someone such as an independent economist to explain how much other economic activity in NZ is driven from people borrowing against their homes for things like holidays, boats etc and the serious impacts a major house price fall would have on all other areas of the economy. We're in a serious pickle. Also a bit disappointed you didn't ask Grant if he thought his COVID policies, such as 6 month repayment deferrals for home owners, were a contributing factor to the massive price increases in property during 2020 and 2021.
I've been to Bubbah's house. She did a stand up show on her balcony once
Amazing work Alice
Fantastic episode!!!!!
Financialization of our economy. Money makes money, and we don't tax wealth. It's obscene.
I need to watch this like 18 more times to understand
The end goal summed up right at the end in jest. Never a truer word.
The highest earning 15% of people pay most of the tax in NZ.
you're a bloody gem
To the lady that said change the government, you mean change government policy.
The National Party are worse. We're they invited or did they decline
awesome report!
Capitalism leads and exacerbates all of these issues. It really is absurd.
This is so depressing
I love bubbah
Love Love Love
well to shrink the wealth gap never tax the poor and tax heavy the rich
Specifically, tax the money that the rich stockpile in completely unproductive lumps of land.
You mean like we do at the moment?
@@bubblesnz1059 no there taxing the poor at moment and letting rich off scot free
@@paulfisher7911 i know youre talking about wealth vs income, but the idea that the 'poor' pay much of anything is laughable
@@bubblesnz1059 right ok here goes the rich hardly pays tax and the government help them .also the government dont pay there energy bills or any bills as they put it down as expenses. the poor are on there knees as they pay tax on everything now look now even middle class with 2 people working are usong food banks and havnt got spare cash
"The LOVE of money is the root of all evil"....not just money!
Terrible, just terrible, like LITTERALLY in the same sentance where she cries poverty she goes and talks about how terrible she is at spending and then goes and buys a shirt?
Alice Snedden, No one is stopping you donating money to good causes. You don't need the government to force you and waste it on ineffective policies that make things worse.
Labour campaign on capital tax twice and both times kiwis voted in national. I don't blame jacinda ardern ruling it out. More kiwis need to understand our tax system. Mainstream media and the opposition party's lies on kiwisaver gst fee's a prime example.
They were also polling terribly and facing a very popular John Key PM when they lost, why assume that CGT had anything to do with it? Nearly half the country (likely the bulk of Labour's voters) are in favour of CGT, it's not like you have to change everyone's minds, just a small number of "centrists". Jacinda ruling it out was cowardly. It was a decision to lock thousands of people into poverty so that she didn't have to bother trying to explain and sell a few people on CGT. She didn't even need to rule it out "in her political lifetime" she could've ruled it out for the first term and revisited it in 2020. It was a massive, unforced error that delayed meaningful action on wealth inequality and poverty by at least a generation, while we wait to see who ends up in charge of the seventh Labour government in 12-18 years time. Hard to imagine what the state of poverty and inequality will be like by then if it continues to grow at these historic rates, but sure, at least it made Jacinda's life easier in 2017.
@@waori anybody who follows politics know that taxes on anything especially the housing market know it is tough politically. Just the question do you believe that house price should drop is avoided from both lab/Nats to answer. If cgt was a vote winner why is the green party always hovering around 8-10% in votes? Status quo won john key 3 terms, cgt won't solve inequality.
@@jakeypetero2013 Better than nothing.
Is wealth a zero-sum game or not ? By approaching this wealth gap problem with the assumption that yes it is zero sum ie there is a fixed amount of money in this 'economy' then how do we redistribute it, (more fairly) ?, because of course rich people have too much ect ect poor people need more, let us all just tax the rich that will solve the problem. WRONG, this starts with wealth being a positive sum gain for all parties involved, grow wages, grow supply, grow the economy and prices will reflect demand inputs that are neutral or with less growth rate while supply increases so prices are in a net lower equilibrium. THIS will go a long way to reducing the 'wealth gap'.
Bernard hickey is so old
It's not like tax money collected goes to the poor. The gov wastes it. Best to let us have it and help people directly by offering jobs
How does buying some land, sitting on it, and selling it for tax free gain create jobs?
The lack of capital gains/land tax hurts businesses too. Why on earth would someone start a business (they'll be taxed at 28%), when they can put their money into land/houses for tax free gains?
That's not true? We have benefits, working for families and pensions. Government money isn't all "wasted" on direct spending like schools and hospitals.
And even if they were to "waste" it, it still goes somewhere. Rich people are going to waste it anyway (or worse, use it to buy even more rental properties) so nothing is lost by taxing it.
@@oliverwilson11 tax the rich is code for ensuring less Americans become rich and participate in the political process. No rich people don't waste as much as the government would. More could be rich. I guess you dont understand how things would be without the regulations that are pushed to destroy competition and keep the oligarchy in power.
@@AnonYmous-xs8nx that can only happen with regulations. If the land is owned by those that would work it and use it to produce, the ones that use regulations to control prices could not take any land that was owed by individuals
that's just bs. You don't consider our hospitals, schools, roads, energy system, airports, roads as government spending ffs. there's things we can not ever do as individuals and rely on a government to do. our climate crisis will never be solved with your approach