Greens to curb negative gearing

You never lived in a Communist country, no one ever has. There has never been any country EVER that existed in the vision of Marx. Interestingly what you describe about your grandmother also happens in other countries where there is massive inequality and corruption, which is what you actually escaped.

 

So how does this inequality and corruption occur, just look at Venezuela now and 10 years ago?
So you are in disagreement, that there is no Communist country, they don't exist, since you mention, 'no one has', perhaps you mean 100% ideologies of Marx in one country did not exist?
Let the dogs lie as I can see there is no point debating this as some know my life better than me, wow!

доброй ночи
dobroy nochi

 

Point out any true Communist country. North Korea? No. Cuba? No. Russia? No, not even under Lenin. China? HA! Are you really going to argue that...a country doesn't need all the attributes described by Marx, but it can still be called "Communist". Can someone be half pregnant?

I'm not saying I know your life better than you, I'm saying your terminology is wrong.

And by the way, my grandparents were born in Russia, so I know a thing or 2. It wasn't a good life.

But again, I ask you, why are people enduring what your grandma endured in other countries? It happens in Greece, I know this personally. Is Greece communist? Maybe KKE won an election there and we didn't hear about it.

 

I just gave one example about grandma and don't wish to give more, and guess why I said, good night in Russian, I presumed I touched here and emotional person, I didn't mean for that?
Some of my best friends are Russians, some come from many different backgrounds and walks of life!
I was born there and lived there and escaped with family, under that rule (a fact), you on the other hand said, your grandparents did.
I don't plan to debate this further.....

 

Don't worry, this was never what I would class a debate. There was nothing to end.

 

Or; "Australian Property Speculators' Anonymous"...."Hi; my name is Joe; it is 2 months since I had my last Speculation"....

A gambler is someone who is betting on an outcome from a system where the odds are always stacked in favour if the House.....and the vast majority lose.

An investor is betting on an outcome - over a longer term - from a system which historically shows that a profit can usually be derived using all the available factors such as rent, depreciation, tax deductions, capital growth, etc - and the odds aren't stacked against the player....and the vast majority win.

 

Don't insult craniums.

 

Yep...

Provide everyone with an equal opportunity - not an equal outcome....the outcome should be up to you.

With NG; everyone in Aus can be part of that opportunity..it is up to all of us to take part or not if we choose.

Before I was a Specu-vestor; I knew nothing at all about NG or depreciation etc...did it bother me, or inhibit me? Nup.....I discovered the opportunity and took it.

The Greens/Socialists of the world want to hold everyone's hand, punish those who walk a bit faster than those who don't; and drag them back to those who want to walk slow or who don't want to walk at all....they should be looking for ways to help the slow and the lazy to walk a bit faster, and concentrate a lot more on really helping those who cannot walk at all.

 

The irony of those complaining about socialist tax policies and handouts is that negative gearing is exactly that.. a hand out from the majority who don´t use it to the minority of speculators that do. The 13 Billion or so refunded in tax breaks to the speculators sure would go a long way to reducing everyone elses tax.

And the myth of the "mum and dad" investors being hurt.. total BS, the lions share of the tax refunds by far go to the very high income earners in the higher tax brackets.
The latest tax data proves it: negative gearing benefits the rich | Greg Jericho

 

@MWI, I read your posts and feel your pain.

I was born in Australia and only ever lived here. Sometimes, some of us forget how lucky we are.

Your posts and examples remind us that there are people on this planet who aren't as lucky as us.

We need to fight for what we have and continually improve things to make this country better for our children.

I left home before I was 21 with a suitcase and $50 in my wallet. Through seeking out opportunities and taking them, I have ended up where I am today.

As @Bayview stated, I believe we all have equal opportunities (but not equal outcomes) in this country, at least more so than a lot of other countries.

I was presented with equal opportunities to do drugs, to rob banks, ... to do bad things. So far in life, I have not maximised those opportunities .

Some on here will hassle you, hound you, pretend they are debating with you, ...

Don't let them get to you. You can ignore them or you can select the Ignore button.

Please continue posting with your examples, where appropriate. People like me need reminding.

 

The Greens proposal is not about unequal opportunity, just a different set of rules.

Without NG; everyone in Aus can be part of that opportunity.

No comment on whether the Greens proposal is good or bad.

 

Would you say the odds are stacked against the player at or near the top of a cycle?

I would be curious to know how many property gamblers win their bet, I recall reading a stat some time back that said in the vicinity of 50% of investors sell within the first few years, mostly due to disappointing returns.

 

The problem in most cases lies with the 'investor', not the returns.

There are many, many people out there who have dreams of making serious money with real estate yet never commit to a serious approach/effort.

 

Likewise the case in some gambling where research or skill can provide an edge and isn't just pure chance.

 

The only gambling i know where you might be able to have an edge is blackjack ( requires amazing skill and casinos in Australia have taken many steps to thwart card counters.) The other game is poker where you test your skills against other players and not the house. I think poker and real estate investing have many similarities.

 

This makes sense economically speaking. If negative gearing is removed it will cause a lot of the very recent investors, who bought in the last few years with little idea of what they're doing and often only because of extreme capital growth, to leave the market. This would cause a price drop but because most price growth has been driven by new development, in the medium term prices in sought after areas would recover. The proportion of investors in the market is unusually high right now, but half of the market will still always be people looking to live in a house, so the market is always going to need landlords. The trick is catering to the stable half of the market (so, not other investors).

Yields for good quality family homes in Ireland even through the recession rose very fast and I know several people who kept afloat despite temporary capital losses simply because their rents were soaring 5% a year. Families want nice family homes in good areas.

 

Using my own experience as a guide; no.

Many of my purchases have been bought when I was able to buy - not when the market timing was right....

Even allowing for this basic stuff-up (if we are trying to make every light on the road ahead a green one before we buy) I have still managed to do far better than everyone on the same income level who has chosen to do nothing at all.

 

I dont complain about Socialist policies...just point out their failings....

NG and all other forms of investment tax deductions are not hand-outs.

They are incentives implemented to encourage all of us to invest and build our own wealth so we dont end up being a hand-outer on the Government teat.

 

The Greens always sell the idea that it is creating an unequal opportunity environment - when it isn't.... their anti- rich, anti-Capitalism agenda is blatant.

Anyone who chooses to get a decent job, save money and be financially responsible can buy an NG IP.. ..why bother to change it?

 

Its all smoke and mirrors. Has nothing to do with NG, trusts etc etc.

What it really is, is a battle of ideologies.

We in Australia are a free, democratic, capitalist nation. And thank goodness for that.