Posts by Paul Campbell

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  • Hard News: Deadly Exuberance,

    I'm not sure what the difference here is between "investment" and "capital gains" - in the US buying anything (a stock, a property, art, etc etc) for X$ and selling it for Y$ is a capital gain

    what you want to do is encourage long term investment - in particular investment in things that create real real wealth rather than just making money from moving money around which in the end just makes a bubble

    Dunedin • Since Nov 2006 • 2289 posts Report Reply

  • Hard News: Deadly Exuberance,

    Matthew - the US system, which I lived under when I was there so it may have changed, has exemptions for ones primary residence - if you sell it and buy another within some reasonable time and the value of the new one is less or equal to the old one there's no taxable gain - there's also a one time (in a lifetime - think retirement) waiver on selling and buying a cheaper house (yes old people do vote in the US - a lot more than everyone else) - doesn't apply to rental property, or holiday homes or ..... that sort of takes the issues that most people would have with their houses out of the mix (would also make for an easy transition here in NZ) and leaves the tax to speculators

    By default in the US all capital gains are just treated as income - you pay at your marginal rate - if you register a purchase with the IRS and hold on to it for long enough (3-5 years) then you qualify for a lower 'capital gains tax rate' (25% rather than 33% federal) - so there "capital gains tax" is perceived to be a lower tax while here it would be a higher one - which colours people's perceptions

    Dunedin • Since Nov 2006 • 2289 posts Report Reply

  • Southerly: Busytown,

    When my kids were tiny I worked at home, my wife worked mornings and I got to be solo dad with kids at the park every day (in Berkeley rather than NY) - the actual parents would tend to gravitate together while the nannys would form their own clique - I think this was largely a language issue (we mostly didn't speak spanish) - being the only guy at the playground with a kid did seem a bit strange though

    Dunedin • Since Nov 2006 • 2289 posts Report Reply

  • Hard News: Deadly Exuberance,

    I must admit I do like the RB's idea of reducing income taxes and replacing part of that with a capital gains tax (not so much the raising GST bit) - we need a capital gains tax to move our 'currency of the realm' out of real estate and into investments that create wealth.

    Just taxing capital gains is not enough though - we need to tax long term capital gains less than short term ones (like flipping a house for the profit) - we want to encourage money going to productive use and staying put for a while

    Dunedin • Since Nov 2006 • 2289 posts Report Reply

  • Hard News: Deadly Exuberance,

    Of course they're all Winston's constituents so I guess no one cares .... :-)

    My mother is in the same boat - and, come our retirement, all our Kiwisaver income that we'll all be living off will behave the same way whenever there's a downturn - it's the way of the world

    I've paid off my mortgage, and don't live of investment income so in some sense I'm unaffected by it either way - but there are other effects on our daily lives - primarily because of the effect that the low interest rates have had on the exchange rates:

    - exporters (that's me - I consult in the US) are looking good - they are making more NZ$ per sale and are more competitive (my income had gone down by ~30% over the past couple of years, now it's back)
    - importers are in trouble, overseas stuff costs more - I'm told that the buy up of stuff to sell at xmas mostly happened before the exchange rate changed - expect price rises in the new year
    - the carry trade is fleeing us - maybe not a bad thing - except that it's probably reducing liquidity here even more
    - farmers may vaguely break even (between reduced demand and better currency results) - maybe it will help us keep a more mixed farming economy rather than continue the rush to dairying - a monoculture is never good - their BMWs will cost more though

    Heaven help anyone (cough cough, sigh) trying to do a startup in NZ right - it's the right time to try and catch the next business cycle but the money's just not there, and the R&D credits are going - right at a time when we should be investing in ourselves

    Dunedin • Since Nov 2006 • 2289 posts Report Reply

  • Hard News: They can see your house from here,

    well they already let you annotate locations on google maps with your photos - NZ seems to be covered in tourist's droppings

    Dunedin • Since Nov 2006 • 2289 posts Report Reply

  • Hard News: They can see your house from here,

    Oh and they turned around before they got to Milford sound you can see why though

    Dunedin • Since Nov 2006 • 2289 posts Report Reply

  • Hard News: They can see your house from here,

    It's a strange mix - Hannah's Clearing makes the cut but Lake Hawea doesn't - in fact you can only go half way over the Haast Pass.

    On the other hand you can follow almost to the start of the Routeburn Track (we have to get someone to carry google cameras over the great tramping tracks!) - google maps does seem a bit confused about the track itself too

    Dunedin • Since Nov 2006 • 2289 posts Report Reply

  • Hard News: They can see your house from here,

    Philip: cutting/pasting google maps from the menu bar just gives your entry to the site (in your case Robyn's link to the stargate in the victoria tunnel) - as mentioned above to have to click the 'link' at the top right to get a link to where you have currently navigated to

    Dunedin • Since Nov 2006 • 2289 posts Report Reply

  • Hard News: They can see your house from here,

    So I just found myself out in the street with my nice new G1 phone checking out the streetview view (you can hold it up and the compass/orientation/gps allows you to move around in the streetview image) and suddenly thought "what am I doing? I'm looking at my street through my phone when the real thing is right there" suddenly it all seemed quite pointless.

    The planetarium program that does the same thing is decidedly cool though

    Dunedin • Since Nov 2006 • 2289 posts Report Reply

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