Anthony Albanese - How long? -2-

[Rotayjay]

Housing will become family inheritance again.

My parents are in their 70's and have already told me they will be leaving the house to me with the idea we hold it for my daughter. Then my wife and I will do the same thing for our grandkids etc.

We are lucky to be able to do this but most families are not.

What a stupid, backwards society we are making. I'm grateful that I own a house, but we shouldn't make an Australia where busting your arse at work can't get you a house while the person next to you can get one via parental help. And we can't have a society where people are living with their parents until they're 25-40.

 

[Vindicater]

What a stupid, backwards society we are making. I'm grateful that I own a house, but we shouldn't make an Australia where busting your arse at work can't get you a house while the person next to you can get one via parental help. And we can't have a society where people are living with their parents until they're 25-40.

Yep it is ****ed but it is the only way people are going to get a house soon.

 

[Puddy]

Housing will become family inheritance again.

My parents are in their 70's and have already told me they will be leaving the house to me with the idea we hold it for my daughter. Then my wife and I will do the same thing for our grandkids etc.

We are lucky to be able to do this but most families are not.

Aged care will gobble any inheritance that you think you will receive

 

[Saint]

Absolutely. But this current govt has does nothing to seriously fix it. While simultaneously claiming they are.

The tight-rope they have to walk is that Govt spending contributes to GDP (major factor) more than it does inflation (minor factor). GDP is in per-capita decline. So the Govt can't cut overall spending without it hitting GDP more than it hits inflation.

A re-balance is much better than just giving the economy a whack by withdrawing Govt spending.

As is being seen in Argentina, any idiot can reduce inflation by tanking the economy by slashing Govt spending and tossing 60% of the population into poverty. Inflation is only one element of economic metrics.

It's much more sensible to address the impacts of inflation that take big whacks at the economy.

For example. They could remove the CGT benefits for property investors. This would affect only those with multiple properties (mostly top 20%) and reduce the deficit.

 

[The Punter]

There needs to be a review of the tax system as it affects economic output. Clearly with the consistent talk about the "per capital recession", we need the economy not only to grow overall but to grow per person. Politically the productivity angle is a dead end unless it is clearly tied to something other than working harder (most punters here productivity and hear "you want me to work harder for the same money"). It's a difficult one and governments of both stripes have struggled with it recently.

 

[peetoo]

Much of govt spending currently is on infrastucture which will feed into productivity


No one is challenging the insane amounts of money going to AUKUS. That’s just a black hole at the bottom of the ocean

 

[Pakenhamsaint]

There needs to be a review of the tax system as it affects economic output. Clearly with the consistent talk about the "per capital recession", we need the economy not only to grow overall but to grow per person. Politically the productivity angle is a dead end unless it is clearly tied to something other than working harder (most punters here productivity and hear "you want me to work harder for the same money"). It's a difficult one and governments of both stripes have struggled with it recently.

Australia's Future Tax System Review Final Report | Treasury.gov.au

In the 2008–09 Budget the Australian Government announced a comprehensive ‘root and branch’ review of Australia’s tax system. The aim is to create a tax structure that will position Australia to deal with its social, economic and environmental challenges and enhance economic, social and...

treasury.gov.au

Absolutely SFA has been done from the Henry Tax Review.

 

[Bunk Moreland]

The tight-rope they have to walk is that Govt spending contributes to GDP (major factor) more than it does inflation (minor factor). GDP is in per-capita decline. So the Govt can't cut overall spending without it hitting GDP more than it hits inflation.

A re-balance is much better than just giving the economy a whack by withdrawing Govt spending.

As is being seen in Argentina, any idiot can reduce inflation by tanking the economy by slashing Govt spending and tossing 60% of the population into poverty. Inflation is only one element of economic metrics.

It's much more sensible to address the impacts of inflation that take big whacks at the economy.

For example. They could remove the CGT benefits for property investors. This would affect only those with multiple properties (mostly top 20%) and reduce the deficit.

I haven’t advocated slashing spending and nor would I, for the reasons you say. My issue is there is other options between slashing it and accelerating it. This government is spending and it’s increasing inflation. It doesn’t mean slashing spending is the right course either.

And they are claiming they’re addressing the cost of living. They’re not, they’re making inflation worse, which also increases interest rates as the RBA try in vain to control it.

GDP is in decline and there is zero plan to ever fix it. Nobody has a plan for the Australian economy. Rusted on Liberal and Labor fools both insist their team does but they don’t, because neither give a shit about anything beyond the next election.

 

[peetoo]

I haven’t advocated slashing spending and nor would I, for the reasons you say. My issue is there is other options between slashing it and accelerating it. This government is spending and it’s increasing inflation. It doesn’t mean slashing spending is the right course either.

And they are claiming they’re addressing the cost of living. They’re not, they’re making inflation worse, which also increases interest rates as the RBA try in vain to control it.

GDP is in decline and there is zero plan to ever fix it. Nobody has a plan for the Australian economy. Rusted on Liberal and Labor fools both insist their team does but they don’t, because neither give a shit about anything beyond the next election.

Those increased interest rates are putting money into the hands of sectors of soceity who benefit from returns.

 

[Rotayjay]

We tax work so much more than wealth, so if you're asset-rich you're laughing. And if you can find ways to legally minimise your taxable income you're also laughing (you'd be surprised by how little tax you can pay with the right accountant and business structuring).

 

[faible]

Or maybe they just had better, more effective procedures?

For the most part, no they didn’t.

I went to WA during Covid, they had absolutely no ****ing idea yet walked around as though they were doing it better than Victoria.

Luck played a massive role.

WA had a bus driver working for days with Covid, no spread. Vic had a truck driver pass it on at every single location he stopped.

 

[MJG14]

Very early but I'm leaning towards a hung parliament. Quite remarkable that Albo is struggling against the most unlikable Opposition Leaders of all time, but ultimately it's due to his unremarkable Government.

Even my local seat is shown as being under threat with this polling. I can't see the Liberals picking it up because it's been safe Labor in it's various forms basically forever, but the outer suburban dissatisfaction which has been talked about seems to be there a little.

 

[Rotayjay]

Very early but I'm leaning towards a hung parliament. Quite remarkable that Albo is struggling against the most unlikable Opposition Leaders of all time, but ultimately it's due to his unremarkable Government.

Even my local seat is shown as being under threat with this polling. I can't see the Liberals picking it up because it's been safe Labor in it's various forms basically forever, but the outer suburban dissatisfaction which has been talked about seems to be there a little.

The above is pretty much meaningless, because those 'to close to call' seats will fall into somebody's column, even if it's the independent column.

 

[The Punter]

Australia's Future Tax System Review Final Report | Treasury.gov.au

In the 2008–09 Budget the Australian Government announced a comprehensive ‘root and branch’ review of Australia’s tax system. The aim is to create a tax structure that will position Australia to deal with its social, economic and environmental challenges and enhance economic, social and...

treasury.gov.au

Absolutely SFA has been done from the Henry Tax Review.

This is fair comment, but the review is 15 years old now.

There are plenty of ideas floating around, but every discussion of tax reform now starts with a laundry list of what is not up for discussion, and then why bother.

 

[Saint]

This is fair comment, but the review is 15 years old now.

There are plenty of ideas floating around, but every discussion of tax reform now starts with a laundry list of what is not up for discussion, and then why bother.

Yes, but that laundry list is usually from the media and it starts with
"Don't tax businesses or they'll move overseas"
"Don't tax minerals, it's such an important industry"

SO then, like the LNP tax changes, it was all just fiddling with income tax rates, and as another poster pointed out, we need to be taxing wealth gains which is where the rich are hiding their income/wealth.

 

[SBD Gonzalez]

We have essentially created a machine in the early 2000's and now we can't turn it off. We have essentially created a housing investment culture in Australia.

There are literally only 2 ways housing in Australia is significantly fixed in the near future.

1) The majority of our voting base are homeowners; they would essentially need to accept and agree to lower the value of their own homes in order to fix the issue. Good luck with that.

2) The voting base slowly changes so the majority of ill effected people who want to own a home, who will vote for changes to housing system and in turn lower values. Good luck waiting for that.

Everything else is just white noise.

There are small but easy things we can do to at least stem the issue, but we dont even have the balls to do that.

It's ****ed.

And I blame ****ing John Howard.

Wasn't the only culprit, I know, but still, I blame him. I hope he has a miserable retirement.

 

[HirdsTheWord]

It's ****ed.

And I blame ****ing John Howard.

Wasn't the only culprit, I know, but still, I blame him. I hope he has a miserable retirement.

In hindsight it's easy to blame older governments, but newer ones haven't done shit to stop it either.

We still allow non-citizens to buy houses here. Who don't even live in the country. Even the easy little shit we can do to help ease the housing market we don't do. Its pretty crazy.

 

[SBD Gonzalez]

In hindsight it's easy to blame older governments, but newer ones haven't done shit to stop it either.

We still allow non-citizens to buy houses here. Who don't even live in the country. Even the easy little shit we can do to help ease the housing market we don't do. Its pretty crazy.

Yep. But I still say Howard started the rot. That man did so much to turbocharge and embed a cancerous inequality into what was a remarkably egalitarian society.

And he had the gall to talk about "mateship" at every opportunity.

 

[Gough]

Yep. But I still say Howard started the rot. That man did so much to turbocharge and embed a cancerous inequality into what was a remarkably egalitarian society.

And he had the gall to talk about "mateship" at every opportunity.

I went to a decent private school in the 80s and there wasn't a noticeable difference between their campus and the local public high schools, the big difference was really the extra curriculum activities on offer. Nowadays it's barely recognisable from the school I went to while the public system has stagnated. That began with Howard and now any reform to restore equality to it is met with howls of privileged outrage.

 

[MPMonkeys]

Very early but I'm leaning towards a hung parliament. Quite remarkable that Albo is struggling against the most unlikable Opposition Leaders of all time, but ultimately it's due to his unremarkable Government.

Even my local seat is shown as being under threat with this polling. I can't see the Liberals picking it up because it's been safe Labor in it's various forms basically forever, but the outer suburban dissatisfaction which has been talked about seems to be there a little.

Dutton and the Coalition will win with a majority.
The polls will underplay Dutton just like they always do with conservative parties. Those too close too calls will fall 80/20 Coalition.

 

[SBD Gonzalez]

I went to a decent private school in the 80s and there wasn't a noticeable difference between their campus and the local public high schools, the big difference was really the extra curriculum activities on offer. Nowadays it's barely recognisable from the school I went to while the public system has stagnated. That began with Howard and now any reform to restore equality to it is met with howls of privileged outrage.

Exactly the same story for me. Younger people really don't understand how radically Howard changed Australian society for the worse, with (among other things) his assaults on public education and his home ownership and CGT policies.

 

[Kram]

Imagine being really bad at you job but still having loyal bootlickers blaming it on someone that left nearly 20 years ago.

 

[Sttew]

Imagine being really bad at you job but still having loyal bootlickers blaming it on someone that left nearly 20 years ago.

It is embarrassing

 

[MPMonkeys]

Synagogue burning in Melbourne overnight.
Well done Albo and Penny - great achievement in making us the anti-semetic capital of the western world.

 

[Ghost Patrol]

Synagogue burning in Melbourne overnight.
Well done Albo and Penny - great achievement in making us the anti-semetic capital of the western world.

Melbourne isn't even the capital of Australia