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Quotes a post about the ABC and goes on a rant about an independent journalist/comedian.
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Anthony Albanese - How long? -3-
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Quotes a post about the ABC and goes on a rant about an independent journalist/comedian.
- Jul 5, 2012
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- Kidding, right?
Ah well there you go then, News Corp is no different to Friendlyjordies.
Ghost Patrol
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FriendlyRuperts
beside the seaside
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The nuclear policy has to be his big opportunity to nail Dutton. Surely they can convince people it's going to be a disaster. 7 plants, decades of time to build them, keep coal power going longer... just seems like an absolutely idiotic idea and the costs will balloon massively.
Albo needs to sharpen his sword here, this is probably his one shot.
Albo needs to sharpen his sword here, this is probably his one shot.
When you don’t have billionaires running media empires at a loss to influence politics so they can do exactly that….and make a profit elsewhere….
- Jul 16, 2013
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Peta Credlin is a goblin in human flesh.
PiCkLeJuiCe
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We are giving away our natural resources for free….. Norway taxes them at 76%!!!!! and people wonder why the US has military bases in Australia ..
“These facilities represent 56% of Australia’s gas export capacity. This means that more than half the gas exported from Australia is given for free to the companies exporting it.
The monetary value of this gas is enormous. The total value of LNG exports over the last four years is estimated at $265 billion. Exports of LNG based on royalty-free gas were valued at a total of $149 billion. To put this another way: in the last four years alone, Australians have given away the gas that made $149 billion worth of LNG, for free. $111 billion worth of this royalty-free LNG was produced in Western Australia.“
Australia’s great gas giveaway
According to the Australian Government’s Future Gas Strategy, gas is “critical” to the nation’s economy.australiainstitute.org.au
How many people know what’s going on???
This is why our media is shit…
It should be the number 1 issue in this country.
This is why we get stories about Albo buying a house .. by the corporate owned media…
We don't get royalties because we didn't pay for the gas to be extracted. Royalties are paid once the costs are recouped and a profit is made.
Norway and Qatar are state owned so the government had to pay for the development of gas fields.
If you are happy for our government to have invested $100's of billion to develop the gas fields, then we would be earning the income from the sale of that gas. Gorgon alone has cost more than $US60 billion.
PiCkLeJuiCe
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If people read that link they'd realise that small businesses are the biggest dodgers of tax, particularly individuals in business. Businesses doing cash work and not reporting income and also over reporting deductions.
And then it's individuals with bullshit work related deductions and those with rentals ripping off the system.
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No peta. You and abbott were the worst govt in living memory
No, I just don't think those kind of blanket taxation policies have a chance of achieving what they set out to.
The probably result of an inheritance tax is the less wealthy losing their chance to get into home ownership through intergeneration wealth transfer while the top end of town use trusts and other business mechanisms to bypass tax and ensure it ends up where they want it.
Those at the bottom will still get nothing, the middle will get squeezed even further and the top end won't get touched.
I applaud the idea of extracting more from the most to pay for services for all but I don't think an inheritance tax is the answer. Sorry I shouldn't have been so flippant in my reply. I had meant to expand but it was late and I couldn't frame a reply how I wanted so I went with a flippant one liner. My bad.
I think an inheritance tax would be very unpopular with voters. If franking credits and negative gearing were enough to give the LNP an election win, an inheritance tax would do even more damage.
A lot of young people will be relying on inheritance to provide them with the means for home ownership, and they don't want the government taking a big chunk.
Exactly. From a political perspective it would be be suicide to even propose talking about it.
Which, in & of itself shouldn't preclude it being an option but practically speaking does.
Our youth already have it hard enough and I'd see an inheritance tax as a further attack on them. That policy alone would be a deal breaker for me.
Is it really too much to ask of our politicians to find another way other than immigration and tax grabs?
The whole country would probably end up renting their house from " Property Investment Inc " owned by some foreign corporation.
I understand the rationale of the populist arguments against the re-introduction of a wealth/inheritence tax in Australia from emotive and political perspectives. But especially from the temporal bias of the manner in which the relatively recent rapid escalation of residential property values have skewed popular thinking on the right to affordable home ownership as opposed to wealth creation.
But a cross generational and overall tax mix perspective as well as a need to look after the housing needs of future generations and not just those currently in or about to enter the private residential property market the arguments against re-instating a wealth/inheritance tax are wafer thin on both equity and economic grounds. That's not just my personal view but the views of leading economists and social welfare experts over recent years and going back decades.
The 2009 Henry Tax Review, commissioned by the Rudd Labor Government, argued that an inheritance tax is an essential component of any equitable and efficient taxation system and would fit well with Australia's changing demographic profile into the coming decades. It made the point that the mean wealth by age has been rapidly shifting towards older households. And that the main factor in the growing wealth of older Australians has been due to the effects of ownership of property and inflation of property prices.
That observation has now turned into an inter-generational wealth crisis that will only get worse if nothing radical is done to correct it. A crisis highlighted in the paper I've referenced previously by Alan Kohler:
www.quarterlyessay.com.au
The argument that focusing on tax reform (emotionally put as a 'tax grab' by some) is lazy policy making is based on a fundamental lack of understanding of the relatively limited array of policy tools open to respective layers of government under the Australian Constitution to effect cross generational equity in terms of acceptable living conditions for all of its citizens. A wealth/inheritance tax, levied at the state level, was once well understood and accepted in Australia as being a critical component of the way in which the newly established Australian Government and its component states and territories could work together to avoid the class system failures of the United Kingdom.
As Kohler has pointed out, successive State and Commonwealth (mostly) conservative governments, starting from the Menzies 1960s administration, have implemented policies to overturn those equity principles through one sided changes in taxation policy. Inheritance Tax, commonly referred to as “death duties”, has not applied in Australia since 1981. And we've now reached the point where the transformation of the residential property market focused on affordable home ownership for all Australians could aspire to into a giant Ponzi Scheme seems to be just blithely accepted.
But a cross generational and overall tax mix perspective as well as a need to look after the housing needs of future generations and not just those currently in or about to enter the private residential property market the arguments against re-instating a wealth/inheritance tax are wafer thin on both equity and economic grounds. That's not just my personal view but the views of leading economists and social welfare experts over recent years and going back decades.
The 2009 Henry Tax Review, commissioned by the Rudd Labor Government, argued that an inheritance tax is an essential component of any equitable and efficient taxation system and would fit well with Australia's changing demographic profile into the coming decades. It made the point that the mean wealth by age has been rapidly shifting towards older households. And that the main factor in the growing wealth of older Australians has been due to the effects of ownership of property and inflation of property prices.
That observation has now turned into an inter-generational wealth crisis that will only get worse if nothing radical is done to correct it. A crisis highlighted in the paper I've referenced previously by Alan Kohler:
The Great Divide: Australia's Housing Mess and How to Fix It
What caused Australia's housing crisis – and how we might fix it
The argument that focusing on tax reform (emotionally put as a 'tax grab' by some) is lazy policy making is based on a fundamental lack of understanding of the relatively limited array of policy tools open to respective layers of government under the Australian Constitution to effect cross generational equity in terms of acceptable living conditions for all of its citizens. A wealth/inheritance tax, levied at the state level, was once well understood and accepted in Australia as being a critical component of the way in which the newly established Australian Government and its component states and territories could work together to avoid the class system failures of the United Kingdom.
As Kohler has pointed out, successive State and Commonwealth (mostly) conservative governments, starting from the Menzies 1960s administration, have implemented policies to overturn those equity principles through one sided changes in taxation policy. Inheritance Tax, commonly referred to as “death duties”, has not applied in Australia since 1981. And we've now reached the point where the transformation of the residential property market focused on affordable home ownership for all Australians could aspire to into a giant Ponzi Scheme seems to be just blithely accepted.
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Sad that both major parties are so addicted to foreign money that neither will do the right thing and ban all foreign investment/ownership in residential property.
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Attack the stupid nuclear policy, focus on cost of living, scrap the wasted 600 million for the PNG league team, stop wasting time on things like the Bali 9.and he will get majority government as is - he will be leading a minority government with teal support
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The wealth that older people have accrued has already been taxed. You're proposing a tax upon tax which will mostly affect youth by retaxing their inheritance.I understand the rationale of the populist arguments against the re-introduction of a wealth/inheritence tax in Australia from emotive and political perspectives. But especially from the temporal bias of the manner in which the relatively recent rapid escalation of residential property values have skewed popular thinking on the right to affordable home ownership as opposed to wealth creation.
But a cross generational and overall tax mix perspective as well as a need to look after the housing needs of future generations and not just those currently in or about to enter the private residential property market the arguments against re-instating a wealth/inheritance tax are wafer thin on both equity and economic grounds. That's not just my personal view but the views of leading economists and social welfare experts over recent years and going back decades.
The 2009 Henry Tax Review, commissioned by the Rudd Labor Government, argued that an inheritance tax is an essential component of any equitable and efficient taxation system and would fit well with Australia's changing demographic profile into the coming decades. It made the point that the mean wealth by age has been rapidly shifting towards older households. And that the main factor in the growing wealth of older Australians has been due to the effects of ownership of property and inflation of property prices.
That observation has now turned into an inter-generational wealth crisis that will only get worse if nothing radical is done to correct it. A crisis highlighted in the paper I've referenced previously by Alan Kohler:
The Great Divide: Australia's Housing Mess and How to Fix It
What caused Australia's housing crisis – and how we might fix it
The argument that focusing on tax reform (emotionally put as a 'tax grab' by some) is lazy policy making is based on a fundamental lack of understanding of the relatively limited array of policy tools open to respective layers of government under the Australian Constitution to effect cross generational equity in terms of acceptable living conditions for all of its citizens. A wealth/inheritance tax, levied at the state level, was once well understood and accepted in Australia as being a critical component of the way in which the newly established Australian Government and its component states and territories could work together to avoid the class system failures of the United Kingdom.
As Kohler has pointed out, successive State and Commonwealth (mostly) conservative governments, starting from the Menzies 1960s administration, have implemented policies to overturn those equity principles through one sided changes in taxation policy. Inheritance Tax, commonly referred to as “death duties”, has not applied in Australia since 1981. And we've now reached the point where the transformation of the residential property market focused on affordable home ownership for all Australians could aspire to into a giant Ponzi Scheme seems to be just blithely accepted.
While I am confident that our politicians view it as a potential means of filling the coffers, you'll find heavy opposition from those of us who've diligently accrued wealth.
Any political party that comes to the election with a wealth tax as policy will be voted below OneNation and the Greens. I say that as a moderate swinging voter.
Much of our youth depend on inheritance to give them a foot into the property market. Any political party who attempts to take that away will be heavily voted against by generations of working class voters. I sincerely doubt it will ever come to anything material, though I'd rather spend and/or hide everything than have my wealth taxed again by government after my death.
Ghost Patrol
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Inheritance usually doesn't come until later in life. So it's mostly not a youth issue.
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Renewables are cheaper and more reliable… decentralising the grid will always be more reliable… and nuclear isn’t always safe.
Exciting times.
Things have changed. I suspect many parents will forgo their inheritance to help their kids.
That is simply demonstrably untrue in fact. These gains in wealth (70% increase in property values in a large number of suburban suburbs in the 2 years since May 2022) have not been taxed in any meaningful sense.
We are talking about the increase in property values. Increases due largely to increased demands for a scarce public resource - land - from an increasing population needing homes, roads, schools, places of employment etc. And a lack of supply of land to meet that demand -hence the price increases for what is available.
That increase in value is now happening at a much heightened rate than it has previously in Australia. And that increase in value has not been taxed - it is an unearned increase in wealth from speculative pressures. And that speculative increase in wealth is captured by property owners.
An inheritance tax not only redistributed that increase in wealth to the public, it acts as a brake on speculative forces. A fundamental fact that has been learned from centuries of population growth in other parts of the world.
Your thinking is just driving a divide between those who have access to unearned property speculation wealth and those who don't. And it is a divide that will only grow with time.
I urge you to take a read of the Alan Kohler essay I linked earlier to understand the fundamental flaws in your logic. (edit: but I know you won't).
As Kohler says it's destructive thinking because of the inequality that results: with so much private wealth now concentrated in the home, it stays with those who already own a house and within their families. For someone with little or no family housing equity behind them, it’s virtually impossible to break out of the cycle and build new wealth.
And his conclusions about the need for drastic change in public policy also ring true for anyone with an understanding of history:
'it will be impossible to return the price of housing to something less destructive – preferably to what it was when my parents and I bought our first houses – without purging the idea that housing is a means to create wealth as opposed to simply a place to live.'
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