Oddbean new post about | logout
 Sorry didn’t mean to hijack this thread to be a conversation about NZ.  But there were a bunch of liberal economic reforms that took place in the mid-eighties, the so called “Rogernomics” after the then Labour Minister of Finance, Roger Douglas.  Devaluation of the NZ$, deregulation of state-owned enterprises, tax cuts, removals of tariffs and subsidies, etc.  It worked really well for a while, but much of the populace want to keep their snouts in the trough and for the rich to pay for it all.  The last (Labour) government bumped up the top income tax rate to 39% (GST, the sales tax equivalent, sits at 15%) and now the (liberal) media is full of articles about how we need wealth taxes and capital gains taxes.  They see it as a revenue problem, not a spending problem.  When I asked Adrian Orr (current Governor of the Reserve Bank) if they had plans to hold bitcoin as a treasury asset, his answer was a derisive “no”.   Disappointing.