Time to save or spend?

John Key is taking $3 billion out of Kiwisaver to spend on tax cuts. He claims that this will stimulate the economy - but is he showing us the whole picture?

Category:

News & Politics

Tags:

• election
• politics
• campaign
• news
• economics
• new
• zealand
• helen
• clark
• labour
• john
• key
• national
• debt
• kiwisaver
• tax
• cut
• johnkey
• nationalparty

[ItsDanielSun]

I've never liked the kiwisaver program fullstop. Because it is doomed for failure & my point has been made even at this early age with John Key proposing to take from it. When the time comes when you want your payout you won't be getting what you'll be expecting. KIWISAVER-DOOMED-JUST ANOTHER TAX

[labour08]

Kiwisaver funds are run by private-sector managers. The government provides incentive such as matching personal contributions and creating employer contributions (both of which National wants to halve). However, in terms of how it's invested, it's virtually no different from any other private-sector fund.

[timetraveler3797]

This is true for many countries.

The only way out of reccessions is to save and then to invest, instead of spending and borrowing.

[skiier239]

Brilliant, just brilliant!

[andyo13]

You think about it. where will that money go when people get it back after the kiwi saver is finished (u get your money back) its gunna go over seas just like you say will happen if people get tax cuts. Kiwisaver is just a delayed potential of wat the tax cuts are.

NOT ONLY that, but MORE will benefit from tax cuts as less than 1/4 of NZ is in kiwi saver.

[herman5050]

this is so stupid, so many kiwisaver providers are overseas. Do some friggin research!! National wants to allow you to contribute 2%, 4% or 8%. Did you really think the 'bells on' kiwisaver was ever going to be a long lasting affordable idea? Especially during a recession?

Also Helen wants to go on another spending tirade herself, giving students everything and the kitchen sink.

We're only in the mess we're in because of Helen, if you cant see that, Im surprised your allowed to vote.

[TheRabidMonkie]

The fact is that she told them break the law.

Also letting labour in means the Greens get in, which I don't think ANYONE wants.

[akasuperted]

Oh thats right Because Helen was driving lol oh thats right The anti smacking bill was also supported by John Key himself if you look back they both walked out together with something they both agreed on.

[TheRabidMonkie]

"Little Kid", wow nice going ;)

Oh and also note on something, seen Nationals plan for helping people during the recession? So much better than Labours.

And what perks? We recieve no perks that I know of from this tired government, except a huge swarm of stupid laws like the inability to disipline your children.

Also how can anyone trust Helen Clarke on anything? She has a photoshopped image of herself up for elections, and does 180 Km/ph, when we can only do 100. So who do you trust?

[akasuperted]

Wow now that is a surprise. Are your parents then willing to give up those perks that we are recieving from the present government instead of bringing a government that is willing to gamble the future of this company to (this so called) loan more money to build a (so called) better infrastructure.

All I can say little kid is that its better to trust a government that is willing to play it safe.

[TheRabidMonkie]

Actually I'm a student making about $100 a week from a Sunday job, trying to do some saving before it comes time to go to Uni.

And my parents are making a decent wage, but more like 60-70k between the two. Working 8 &12 hour days that is.

But, I'll take your comment as a compliment, since you seem to think I'm 30+

[akasuperted]

Let me guess. You are probably one thats on a 60k + salary who will benefit from this. Am I willing to give up things that are subsidised by the government eg Doctors, Kiwi Saver and a student instrest free valued at $18000 to get an extra $30.00 to $50.00 in the pocket a week. Ah No!

Now what does New Zealand get out of me?

I educate trouble teens especially those that come from Middle to Lower Class families to get them out of this dificit thinking so they don't turn to crime or drugs.