Property chat election time!

Times are changing

Companies hiring more workers, rather than opting for capital expenditure and govt disruption to global supply

 

Good read

https://www.google.com.au/amp/s/amp...ral-and-i-am-not-a-bigot-20190519-p51p34.html

 

Here's another good one:

‘My parents are PM’s quiet Australians’

 

OMG, th

OMG, that article could be written by me. It resonates with my family.

 

And mine, truly!
The thing I could add is that my parents actually escaped their communist country, just five of us as a family and few bags as our all possessions...for a better life and freedom of speech.
I will never forget when we arrived in NSW South West Sydney and my parents rented out a house from a private landlord, and all of us slept in our sleeping bags in the lounge room, like sardines next to each other for comfort for many days....
They eventually bought furniture from St Vincent de paul, we went to state schools, after three years they were able to start a small self-employed business, since they were around 40 with limited English. We tried anything to survive by undertaking any jobs we could, even with dropping newspapers, sewing dresses, collecting cans and bottles for recycling, helping on weekend as kitchen hands....I could go on and on...!
All we could count on was each other, our family, our hard work and perseverance, with the idea that one day we too can have what other Australians have!
And now after 40 years or aspiration, all kids finishing Universities, working hard, we had been able to climb that ladder, one step at a time, at some costs I don't need to disclose or share. And now to feel degraded and look upon as unworthy 'top end of town' feels so humiliating and really unjust!
I too am the quite Australian...We should support the weak and each other, we should be proud of those that achieve, and we should encourage others that it is possible.
Let's get back to Australian values and support our communities, farmers, regions, and everyday people working hard.
As my mentor Jim Rohn summed it up very well:
It is a tendency of humans to look at those who enjoy success as having been, at some earlier time, either lucky or dishonest. Surely, the man driving the luxury car toward his expensive home on the hill could not deserve it through hard work and sacrifice. Such is the language of the poor. For the fortunate man with the car and the house on the hill, these are the crops given to him in his fall of the business season - as just rewards for efforts expended during an earlier springtime of his life... a springtime during which those who now condemn the man possibly set back and laughed, or finished, or told stories. This is the folly of a man. Those who do not possess will always scorn the possessor.
Those who condemn the successful man or woman for their apparent good fortune or dishonesty are unaware of the price often paid for success. They cannot see the massive disappointments, the shattered hopes, or the broken dreams. They do not understand the risks incurred in both raising and investing capital for an idea yet unproven. They do not see the legal involvements, the tax burdens, the challenges of labour, or the restraining government regulations, nor do they appreciate the family dissent that seems to automatically accompany the pursuit of success. Those who condemn see and scorn the result, being unaware of the cost as well as cause that produced the success. For so long as the selfish of the world scorn the successful...that long will they continue to live as they live.

 

Shorten failed to learn from Malcom. Malcom leaned too far away from his constitutes and he was swiftly put to RIP. Shorten leaned too far away from what Australians wanted and he met the same fate. I say let them both RIP and we move on.

 

Ditto!

 

To Labor and the young journalists from the southern capitals. You reported what the University-qualified people working in the Gratten Institute and at Get Up told you to think:

You wanted a class war, you wanted an ageist war. You took on the backbone of this nation, the men and women who went to war themselves or whose parents served in a war or escaped from a war. You took on those who actually built the infrastructure that you take for granted when you look at the Sydney Harbour skyline or when you catch a train anywhere. Those whom you want to tear down are the same ones you should thank whenever you turn on a light in your apartment and a tap in your kitchen.

You want to reduce the price of houses now after we have just experienced several decades of economic prosperity, the same prosperity that gave you your public education, your iPhones, your smart cars and snazzy fashions. You realise, don't you, that in order for the price of housing Australia-wide to reduce, your very own parent's and grandparent's homes will lose their value. You want to take away from your very own parents and grandparents. Nice one.

 

Australia got it so right this election. Not because libs won or labor won etc but because Australia voted on values above politics. They ultimately deiced they wanted to keep our current way of life as is because it is simply dam bloody good for the vast majority. Haven't felt this proud to be an Australian in a while I must say.

 

That could have been written by my kids .

I have already posted my life story on PC. So I am not going to repeat it here.

I am proud to say that I have never been on welfare, I am currently not on welfare and my goal is never to be on welfare.

Have I received assistance from the Government? Yes, I have - TEAS - but, over the last 40 years, I have paid that back (in taxes, etc) many times. IMHO, that was one of the best investments Governments ever made.

So, when some grubby politicians want to reach into my wallet in retirement and take my franking credits, tax my trusts, remove negative gearing, increase CGT by 50%, ..., I will come out of my “quiet” retirement and help others Australians kick them into the “political wilderness “.

How good is Australia!!!!

 

I've long since advocated a reform of NG to follow the UK system - property losses rolled forward against future property profits, the same way as my humble P/L software business would be treated if it made a loss. Nothing to do with class warfare: at forty I was one step away from bankruptcy and am now, according to the stats, one of the richest 10% of Australians. A bit of luck, some inherited money, but mostly down to 25 years hard work.

The tragedy of this election is that it shows that tax reform is impossible unless a party goes to the election denying everything then changes its mind after being elected (AIUI this is what happened with the introduction of GST). For a given level of spending, if you don't tax A, you end up taxing B. Most economists seem to be of the view that GST should be higher, income taxes lower. But imagine what would happen to any party running this as a policy.

 

Agree, negative gearing reform is badly needed, it is an extremely damaging tax policy, unique to Australia. I voted labor primarily on this issue, and climate change (I normally vote conservative, but not this time).

 

I am a big fan of consumption taxes like the GST.

I would like to see a discussion about applying GST to everything - food, rent, private school fees, hospital fees, surgery fees, even tampons, ...

In that way, everyone would pay tax based on their lifestyle. Richer people would pay more, poorer people would pay less, pensioners including self-retirees would pay, ...

I would be happy if income tax was reduced or even eliminated (may need the GST rate increased).

I don’t know if any economic modelling has been done

 

It is easier to tear down that the build up.

The only way those at the "bottom of the hill" will rise, is for them to be built up ... many of us on here are "lucky" - not necessarily financially - but with a good basic foundation ... our life mentors, our ethics (work and/or humanity), usually a stable background and support/encouragement.

Many do not have those foundation basics

 

... and aren't we bloody lucky we live in a country where, if an election doesn't go the way we had hoped, all we do is mutter mutter - and then got on with life

Deadly violence erupts in Indonesia after election result

 

As Labor fractures, Albo has questions to answer

 

Can they also get rid of stamp duty too