Raymond Burr was born on this day in 1917.
I’m Gonna Sit Right Down and Write Myself a Letter
21/05/2010Fats Waller was born on this day in 1904.
Courage
21/05/2010It take great courage to speak at the funeral of your daughter.
What can you say about a young woman you loved with all your heart when you know that love wasn’t strong enough to save her from the addiction which led to her death by overdose?
At yesterday’s funeral this brave mother showed her love for her daughter by making a plea to those there to celebrate her life, blighted and ultimately cut short by drugs.
She said, learn from this, resist temptation for your own sake and for the sake of those who love you.
She knew it was too late for her daughter, but her message was to the others listening, the ones she knew were at risk of following her.
Then a family friend read this poem, penned by a drug addict and found after she died:
My Name Is Addiction
I destroy homes, tear families apart, take your children, and that’s just the start.
I’m more costly than diamonds, more precious than gold, the sorrow I bring is a sight to behold.
If you need me remeber, I’m easily found. I live all around you in school and in town.
I live with the rich, I live with the poor, I live down the street and maybe next door.
My power is awesome, if you try me you’ll see; but if you do, you may never break free.
If you try me once I won’t want to let go, if you try me twice I’ll own your soul.
When I possess you, you’ll steal and you’ll lie, you do what you have to just to get high.
The crimes you’ll commit for my narcotic charms won’t be worth the pain you’ll feel in your arms.
You’ll lie to your mother, you’ll steal from your dad, when you see their tears, you should feel sad.
But you’ll forget your morals and how you were raised, I’ll be your conscience, I’ll teach you my ways.
I take kids from parents, and parents from kids, I turn people from God and separate friends.
I’ll take everything from you, your looks and your pride, I’ll be with you always, right by your side.
You’ll give up everything, your family, your home; your friends and your money then you’ll be alone.
I’ll take and take till you have nothing more to give, when I’m finished with you, you’ll be lucky to live.
If you try me be warned, this is no game; if given the chance I’ll drive you insane.
I’ll ravish your body, I’ll control your mind, I’ll own you completely, your soul will be mine.
The nightmares I’ll give you while lying in bed, the voices you’ll hear from inside your head.
The seats, the shakes, the visions you’ll see, I want you to know these are all gifts from me.
But then it’s too late, and you’ll know in your heart, that you are min and we’ll never part.
You’ll regret that you tried me, they always do; but you came to me, not I to you.
You knew this would happen, many times you were told, but you challenged my power and chose to be bold.
You could have said ‘no’ and just walked away, if you could live that day over, now what would you say?
I’ll be your master, you’ll be my slave. I’ll even go with you when you go to your grave.
Now that you have met me, what will you do? Will you try me or not? It’s up to you.
I can bring you more misery than words can tell, come take my hand, let me lead you to hell.
Taumarunui on the Main Trunk Line
21/05/2010Day 20 of New Zealand Music Month, the traditional version of Taumarunui on the Main Trunk Line, sung by Pat Rogers abd dedicated to PDM and Paul who weren’t so keen on Wednesday’s version.
What happened to the mid-term toughie?
21/05/2010Mid term Budgets are generally the tough ones.
It’s when tough medicine is delivered in the hope people will have forgotten, or at least got used to, the taste by the time they vote.
This Budget hasn’t done that.
There were a few positive surprises and while there are a few complaints, the general response is positive.
From south to north:
The Southland Times says it was Cautiously corrective:
The Budget was more a series of cautious, reasoned calculations, political as well as economic, following a pretty well-signposted path. . .
Disinclined though most people may feel towards outbursts of impassioned applause, some acknowledgment is due that Finance Minister Bill English delivered, on balance, more by way of tax cuts than had been expected. . .
//
Mr English is entitled to claim that New Zealand now has a fairer tax system.
This does not, necessarily, amount to a mission accomplished. Far bolder measures such as capital gains and land tax options were discarded, but the bottom-line issue is less whether the changes were correctional – they were – than whether they were too meek.
Mr English and Prime Minister John Key would be happy enough if the debate in future weeks were to be primarily whether they were cautious to a fault in how far they went down the right track.
But it won’t be. Neither life nor politics is that simple.
The ODT says it’s A Budget gamble:
What really matters, though, is whether the changes will stimulate investment in jobs and in product-creating industries (without which there cannot be lasting economic growth) or simply leave New Zealanders’ habitual spendthrift ways unchanged.
. . . The Government deserves commendation for – at long last – tackling a few of the seriously detrimental distortions in the taxation system; but for the rest, a mark of “achieved with credit” is some way off.
In essence, the Government has judged its measures to be long term: a brave and necessary conclusion.
The Dominion Post sees Bold steps towards an economic recovery:
Finance Minister Bill English has not gone as far in his second Budget as he was advised to go by the high-powered Tax Working Group earlier this year. But he has been bolder than most pundits expected. And, wonder of wonders, the Budget is a coherent document that should encourage saving and investment and discourage consumption and speculative investment in property. . .
There is something else for the naysayers to consider. Even before the financial crisis struck, economic growth had stalled in New Zealand. Without changes to make it a more attractive destination for investment and skilled workers, New Zealand was facing a further slip down world economic tables. Mr English has made a promising start to arresting the trend.
The Taranaki Daily News writes Budgeting on widening the gap:
But the Government’s `surprise’ package for middle-class earners and its across-the-board tax changes cannot hide the fact that despite being touted as something for everyone, a significant portion of our community will still be getting substantially more than others.
The NZ Herald says Budget puts NZ on course for stability:
If National’s second Budget has done nothing else it has restored reasonable personal tax rates. . .
The Budget was upbeat on the economic recovery, forecasting growth of 3 per cent a year for four years, which would reduce unemployment to 4.5 per cent in four years and return the Government’s accounts to surplus in five years.
Most important, those forecasts enable the Treasury to plan debt reductions.
National Governments are never happier than when they can reduce taxes, and never more determined than when they can remove a welfare rort.
They managed to do both in this Budget, stopping those who minimise their assessable income from claiming income support from the state. . .
The Government has not forgotten that only half the country’s top earners have been paying the top rate, and that those who do pay it provide nearly half of the revenue extracted from personal incomes.
It has given the payers a more reasonable rate. If the rest in the highest bracket have been induced to contribute fully, the Budget will have been a success.
Keeping Stock has a round-up of views from commentators.
Budget reaction
21/05/2010Patrick Smellie sniffs an unusually successful Budget:
What makes the Budget particularly strong is the extraordinary state of the Crown accounts. If net Crown debt is to peak at less than 30% of GDP after the most wrenching debt crisis ever to hit the developed world, then we’re looking in reasonable shape.
If it weren’t for the fact that the Budget economic forecasts still have current account deficits at around 7% of GDP for the foreseeable future, there would be an argument that English could borrow a bit more and get the place really going.
Tax experts say it’s bold and radical:
“The property sector will understandably not welcome some aspects of this Budget,” said accounting firm KPMG’s chief executive, Jan Dawson. The surprise cut to 28% in the company tax rate from next April would help offset any negatives among a raft of changes removing or tightening property investment and other sources of tax deductibility.
The Budget was “the most radical in years”, said Deloitte chief executive Murray Jack, and represented “a big bet on the delivery of the required impetus for the government’s growth strategy.”
The New Zealand Institute of Chartered Accountants pointed out that it was history repeating. The corporate tax rate was 28% in 1989, while the top tax rate only rose beyond 33% in 2001.
“Ever since then, the tax system has fallen into disarray as governments have tried to apply band-aid arrangements to avoid the 39% rate,” said NZICA’s Craig Macalister. “This is a welcome return to a simpler tax system, and it removes some of the incentives to structure for tax purposes rather than for commercial purposes.”
Chapman Tripp tax partner Casey Plunket said “no one should mourn the passing of the 38% top personal tax rate.”
“It was always a fraud, the cost of which was not borne by the wealthy but by those who earned … income which they could not shelter in companies or trusts,” Plunket said. “People with substantial assets, the real wealthy, were almost completely unaffected by it.”
. . . The New Zealand Property Council wasn’t happy with the investment property tax changes, but called it a “bold Budget” that was “good for New Zealand, at the property sector’s expense.”
Federated farmers applauds the tax incentives but wanted more for agriculture:
Federated Farmers is welcoming Budget 2010 with some misgivings about the ongoing growth of Government spending and the impact of higher Government charges, particularly the Emissions Trading Scheme (ETS), will have on inflation.
“The Government’s ambition to rebalance the economy in favour of the tradable sector is admirable,” says Philip York, Federated Farmers economics & commerce spokesperson.
“The Government’s emphasis on encouraging sustainable growth, based on productivity and competitiveness is strongly endorsed and we welcome a much improved economic and fiscal outlook. . .
. . . “Federated Farmers is very disappointed the Regulatory Responsibility Bill, something designed to introduce discipline to regulation, continues to languish. There’s actually no need for further consultation, as stated in the Minister’s Budget speech. It’s a high quality well drafted Bill so let’s get on with it.
“All in all this is a Budget that looks good but it is very much work in progress with more needed to be done if we are to get the tradable sector led growth we all want,” concluded Mr York.
The Business Round table says there are sound steps but no step change:
“The government deserves credit for correcting some of the economic mistakes of its predecessor but is still well away from putting the economy on a strong and balanced growth path”, Roger Kerr, executive director of the New Zealand Business Roundtable, said today.
Colin Espiner writes English sprinkles the fairy dust:
Somehow, English has managed to please all of the people all of the time – at least, everyone except the unions, Labour, and Hone Harawira. And it’ll be a cold day in the Beehive before those three agrees with anything National does. . .
. . . Overall I reckon this is easily a better Budget than last year’s effort and probably trumps anything Labour came up with in the past nine years as well.
And over at No Minister The Veteran discusses whose views can be disregarded and why.