A reader emailed this today:
Labour and the Greens are making a lot of noise at present about the widening gap between the rich and the poor.Â So I have put a few thoughts down on this matter.
1.Â Â Â Â Â Â Â Labour and the Green Taliban talk much about the rich getting richer and the poor getting poorer.Â What they are in effect doing is driving a wedgeÂ into our society as they harp on about this and are in effect creating a divide in our society.Â Those who are poor should hate those who are successful because the implication the left want to spread to their useful idiots is that those who are successful must have done so by taking the resources off the poor and exploiting them.
2.Â Â Â Â Â Â Â The left harp on about the fact that those who earn the high salaries are not paying their fair share of tax.Â This is utter bulls**t.Â Those earning $100,000 are paying significantly more multiples of Â tax than the people earning $40,000 or $50,000.Â Someone earning $200,000 per annum is probably paying in excess of $60,000 income tax per annum.Â It is bulls**t to say that person is not paying his / her fair share.Â The reality is that the 12% are paying 75% of the tax.Â Effectively to prop up the spending promises of successive Governments, but especially the last Labour Government.
3.Â Â Â Â Â Â Â The rich cannot help but get richer.Â If I have $1,000,000 in assets and invest those assets at 5% (very modest I know but hold with me) then in 12 months I will have $1,050,000 in assets.Â If I have $1,000 invested a 5% then in 12 months I will have $1,050. The rich cannot help but get richer. That is a fact of life.Â Of course those with the $1,000,000 use their money to create jobs and capital investment so the whole pie for society can grow bigger.Â 22 years ago I came back to NZ without a cent to my name.Â In that time with very hard work, careful management and setting goals I have managed to accumulate a reasonable asset base. More about that that later.
4.Â Â Â Â Â Â Â The good news is that here in NZ we generally have equal opportunity to succeed.Â That is what counts.Â True some have more opportunity than others and different circumstances.Â But I ask this.Â Is it possible for a kid from NaeNae or Otara to become a partner in a law firm, a business owner, a policeman, a teacher, an artist, a member of the military, a civil servant, or even the Prime Minister.Â The answer is yes. That kid can do whatever he/she wants so long as they have a game plan, some life goals and the intelligence.Â All jobs have different pay scales and the outcomes will be different, but it is the opportunity that counts.Â While Labour and the Greens seem intent on focusing and splitting the nation with their envy of success, and hatred of the poor,Â the National Government is getting on with doing what it reasonably can to ensure all our kids can follow their life dreams.Â What the Labour/Green envy and hatred does is tell the kids from Otara and NaeNae that you canâ€™t be successful because you are poor.Â The Labour and Greens suppress self-responsibility and ambition and think only the Government can help those at the bottom of the heap. Â Â Read more »