D.Lo

Identity politics stalls insurrection.

[D.Lo @Dave_Low]

@AvidCommentator We need negative migration. 2.6 million temp migrants, mostly trying to get PR?

Remove all work hours from students and they are sent home when finished, and have to apply from offshore for any subsequent visa, it will all be gone in 3 years.

[D.Lo @Dave_Low]

@bowtiedstocks 1. The legislation hasn't even taken effect yet, the drops so far are pure sentiment.

2. Anyone with half a brain would be waiting for it to bottom out.

3. Vendors are currently delusional and holding onto their old price hopes.

[D.Lo @Dave_Low]

@sir_relaxacat Imagine retiring with $7m+ of assets from being a teacher. Probably got a defined benefits state pension too? Absolute pure luck.

[D.Lo @Dave_Low]

@FairNPractical @Potstirrer111 “Skilled” 😂😂😂

[D.Lo @Dave_Low]

@Gnu352 @Adam_Creighton LNP do what their big fussiness donors want first, and then try and slip it by the public. Howard perfected it by seeming tough on borders with boat people, while upping legal immigration.

They delivered the wage suppression and rising asset prices the donors wanted.

[D.Lo @Dave_Low]

@Potstirrer111 This makes so much sense.

I have met people with Australian degrees who I can not believe passed a single subject. One had a Master of IT from UTS but was boomer level clueless about computers, basic email functions confused her.

[D.Lo @Dave_Low]

@hermanbuckleyy @BMAU000 I didn't say losing housing is the only issue?

The issue with government housing is it is so sparse there are big winners and big losers. If you don't get it but are poor you starve. But some have waterfront government housing in Sydney.

[D.Lo @Dave_Low]

@sdunbabin @taipan168 Because the vast majority of wealth transferred between generations is housing whose capital gains are completely untaxed.

Over a certain threshold they should be taxed for the benefit of society and not creating a new landed gentry.

[D.Lo @Dave_Low]

@ringsau @Nirgal451 The majority of super ends up as inheritance now, not actually used in retirement. Which is a clear indicator the tax breaks are are two times too generous.

[D.Lo @Dave_Low]

@Nirgal451 100% correct. All the caps need to be reduced.

[D.Lo @Dave_Low]

@taipan168 Banks are happy to roll over the loan if the underlying assets have increased in value.

When they die the assets and debts are inherited and capital gains status is reset to market value for the new owner. A portion is sold off at zero capital gain to pay the loan.

[D.Lo @Dave_Low]

@hermanbuckleyy @BMAU000 This is a problem with Centrelink payments. They should cut out far later with work.

But you shoudln’t get government housing if you can work fine. It’s such a massive leg up and completely unfair to the tens of thousands starving in private rentals or sleeping in cars.

[D.Lo @Dave_Low]

@BMAU000 Absolute insanity and entitlement.

Thousands on waiting lists, she bludges for decades while being able to work fine.

[D.Lo @Dave_Low]

@KatieGrace2022 @maidenwally Fake figures.

Only 12% of retirees in Australia are renters.
Only 8% are still paying off a mortgage.

76% own their home outright and the last 4% are with family or in a retirement home.

[D.Lo @Dave_Low]

@KatieGrace2022 “Self funded”

Pay no tax but use medicare, gets reverse tax cash refunds for excess franking credits, no tax on the super earnings…

If you live on a compound and don’t use any government services, sure. If you do, you are not self funded, just too rich for direct cash welfare.

[D.Lo @Dave_Low]

@taipan168 The interest is almost always lower than the rate at which the collateral accrues value. They refinance the loan on this basis. And end up with an untaxed income from their assets.

[D.Lo @Dave_Low]

@taipan168 @sdunbabin Gifts are equivalent to inheritance and should be taxed the same.

If they have the balls they could start with 10% of all interpersonal transfers over $3m over a 10 year period.

[D.Lo @Dave_Low]

@ljdrummond24 Hopefully, let's not get ahead of ourselves though.

[D.Lo @Dave_Low]

@Potstirrer111 More like what a batterer?

Or let me try that Downer joke another way.

"The things that battle"?