Best and Silliest Tweet of The Day

Sam Morgan has a deluded view of the world at the best of times.  You know this when even Trevor Mallard has to point out the obvious to you.

First up Sam astutely tweets

But then his solution is daft.  So daft even Mallard can see it.

Problem with this is that Mallard wants a capital gains tax (as does the Morgan’s).  That will not make homes easier to purchase either.

Another example as to why Labour should not be allowed near the Treasury benches again and why Sam Morgan needs to be told to stay out of politics.

 

  • http://www.facebook.com/steve.wrathall.9 Steve Wrathall

    “Outrageous building costs” Trevor? Just put your old mate Phillip Field in charge of labour procurement.

    • Pita

      And a $15 per hour minimum wage (as per last election) will not add to that burden?

  • Michael

    Sam Morgan is a clown. Has one brain fart that turns into a good idea, now he thinks he is clever? No sorry, you had a good idea, twas all.

    • Agent BallSack

      It wasnt even a good idea, Ebay had been doing it for years.

      • Travis Poulson

        Just the first to do it here, hence his success.

      • Neil

        So the amount of money he was able to sell it off to Fairfax didn’t count as it being a good idea?

        • Travis Poulson

          I think he meant original idea.

      • Michael

        It was a good idea, just not original ;0)

  • maninblack

    i will be definalty buying one of those houses just to make a quick 100k!

    • Neil

      Maybe that’s why we need some sort of Capital Gain tax on property speculation like your’s – only a occupied by the family home should be exempt

      • Alloytoo

        Define “occupied”.

        • Neil

          That the people living in the house are those who paid the money for it – to describe it any more detail would probably have every lawyer finding a way to rearrange what that means. I would hope that it would therefore exclude those properties occupied lived in by a “family” but “paid for’ by a family trust.

          • Alloytoo

            By your definition a ‘family’ living in two houses could potentially have both exempt.

  • Travis Poulson

    Hate to say it, but: ‘like father, like son.’ Gareth keeps dipping his toes into politics and making a fool of himself, now Sam seems to be following him down the garden path to campaign for the position of associate village idiot.

  • Agent BallSack

    Guess Sam and Garth will be immediately selling up and disbursing their wealth amongst the poor? No? OHHHHHH Its their money not some one elses. Gotcha!

  • Chris Richardson

    Just to correct Cam, who was clearly distracted by other things (because I know he will be aware of this fact); The CGT proposed by Labour did/does NOT apply to the first or main family home – so it wouldn’t have any affect on this.

    • CJA

      Hmmm think that might be debateable in some cases especially with the IRD hot at times with dealings with properties and the sale of them. Any speculators might find themselves caught under sections of the Income Tax Act outside of New Zealand not having a CGT, despite them saying this is a family home etc.

    • In Vino Veritas

      The current CGT does have an effect on first and family homes. If you have a pattern of selling over time, you can be considered a “trader”. In which case you can be taxed on the capital gain.

  • Alloytoo

    Forgive me if I’m wrong, but having felt left out by the Yanks is Labour trying to manufacture a sub-prime disaster?

    • blazer

      the banks are doing a good job of that without any help…..they will of course be bailed out…thats how capitalism works these days.

      • CJA

        I think you’ll find that the banks in New Zealand and Australia are a lot more heavily regulated than they were in the US and the UK hence (from my understanding) that there was very little if any exposure here to the sub prime disaster in the US and the UK.

      • Alloytoo

        At least corporate welfare has a more than fair chance of repayment, unlike your stipend.

      • In Vino Veritas

        In this country it’s only Government controlled banks that get bailed blazer. You might recall the small matter of $380m paid out to rescue the BNZ in 1990.

        • blazer

          try 600 million.And FYI the BNZ was 33% owned by the old pirate Fay of ‘its my fucking bank ‘ fame…who ignored exposure limits as it suited him.

          • Karlos

            Is that the same ‘old pirate Fay’ that you wanted the Crafer Farms sold too? Funny how your opinion changes once the xenophobia of Chinese owners is removed.

          • blazer

            wouldn’t give Fay the steam off my shit…dont know what you’re on about.Bloke should be in jail as far as I’m concerned.

          • In Vino Veritas

            My bad, blazer. It should be note that your “old pirate” had to stump up with a lazy $100m as well, plus have his shareholding decreased.

            “Ignored exposure limits”. Where is the evidence of this blazer? You will find that the BNZ’s issues post the 1989 rights issue were from lending in Australia, and your conspiracy theory is just that.

          • blazer

            no govt bail out he was dead in the water!There is a plethora of evidence re over exposure to related parties…remember 87 was the year of the sharemarket crash…

    • In Vino Veritas

      Alloytoo, you mean like the left leaning government in the USA insisting on Government subsidised lending agencies lending money to people who couldn’t afford to repay those loans? And subsequently bankrupting those agencies? Sort of like that?

      • Alloytoo

        Yes. I’m struggling to find a point of difference.

  • Patrick

    Just like his Dad – another mouthy dickhead

  • botti

    Reducing immigration & foreign ownership would reduce demand?

    • Patrick

      So would a Chinese “one child per family” law.
      Both unrealistic in my view.

  • parorchestia

    Dear Sam. Sigh, we do have taxes on capital gains if you are a trader, and the IRD is becoming very effective in hunting them down. Capital gains taxes have not reduced housing bubbles in countries unfortunate enough to have them (and stamp duty and transaction taxes and registration duties and….). Farmers regard their capital gains as their superannuation for when they retire. A capital gains tax will severely impact on family farming – the backbone of our economy. I agree that daft twits (or is that tweets) who propose such taxes should never be let near the Treasury Benches.
    Our house prices seem high because we are a low wage economy. Compared to international prices houses are cheap here (think dog box apartments in Hong Kong), so attract foreign buyers with cash. The solution is for us to adopt policies that are business and farming friendly and so raise wages.

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