Proof of Sheila

Surfing the waves of the changing financial system. Full collection of comics here:

[Proof of Sheila @ProofofSheila]

GMGM fellow crypto traveller, I am Proof of Sheila, comic artist and crypto commentator. Please stay and look around.

You can view my full list of comics and my evolution as an (extremely bad) artist on my subreddit:

https://t.co/nFWm1h3o7S

[Proof of Sheila @ProofofSheila]

Obligatory bought the dip

[Proof of Sheila @ProofofSheila]

@AusBTCIndBody @ALeighMP The level of boomer-demonisation is next level.

[Proof of Sheila @ProofofSheila]

@ALeighMP “Oh no, Bitcoin is out-pacing inflation, and the Australian indexes aren’t. Better make sure we demonise it.”

[Proof of Sheila @ProofofSheila]

Always interesting to note what is ripping on red days.

[Proof of Sheila @ProofofSheila]

This is why I like self custody

[Airbtc @Airbtconline]

Unpopular Bitcoin opinion:

Most people don't want financial freedom.

They want someone else to be responsible when things go wrong.

That's why self-custody remains a niche.

[Australian Bitcoin Industry Body @AusBTCIndBody]

If you have strong opinions about the CGT changes, there are six days left to make a submission to the Senate Committee inquiry - anyone can do so - individuals, organisations, or businesses.

There is no restriction to industry bodies.

Submissions may take the form of a letter, paper or report, and may contain facts, opinions, arguments, and recommendations.

https://t.co/L5GIbDqF8Z

[Proof of Sheila @ProofofSheila]

@Thebitcoinway_ Self custody == money under the mattress

[Proof of Sheila @ProofofSheila]

@Thebitcoinway_ Same energy

[Proof of Sheila @ProofofSheila]

@cap_tzzz @boldleonidas @MINHxDYNASTY I use AI generated references and hand-draw them to force myself to practice drawing. I am trying to loose the “AI vibe” though. Although I think the hand-made errors are pretty visible and obvious.

[Proof of Sheila @ProofofSheila]

@Kluckies_ It me

[Proof of Sheila @ProofofSheila]

@theswansjr Same energy

[Proof of Sheila @ProofofSheila]

@boldleonidas @MINHxDYNASTY How about a comic girl

[Proof of Sheila @ProofofSheila]

@ausstockchick I can’t find when this is supposed to hit the senate

[Australian Bitcoin Industry Body @AusBTCIndBody]

Vires in Numeris

We've updated the CGT Reform engagement page so you can clearly see those those MPs who are in marginal seats.

If you've not already, have your email join the almost 5,000 emails sent to MPs accross Australia.

You're welcome to make the sample template personal to you.

https://t.co/6ewccFRmHt

[Marko Matvikov @MarkoMatvikov]

Labor clearly can’t defend why its CGT changes extend beyond property if the intent is to remove tax incentives for property.

But I’m seeing a new wave of defence being that a) they only apply to the ‘wealthy’ and b) ‘small businesses’ are exempt – so let me tell you why these are categorically wrong.

• The ‘wealth’ data is fundamentally flawed: It’s based on single year transaction data, rather than lifetime earnings. About 90% of Aussie taxpayers earn under 135k per year, so when an investor sells a long-held asset, that single transaction for a single year pushes them into the ‘top 10%’. This doesn’t mean they’re in the top 10% of wealthiest Aussies – it simply means that for that specific year, they earned over 135k, which could be off the back of decades of earning much less per year.

• The small business concessions aren’t indexed: The $2m threshold for annual turnover and $6m threshold for asset value haven’t increased for almost 20 years (a problem that extends to many of our taxes). This means modest family businesses are being dragged into a tax regime originally designed for much larger operations – specifically, where it was designed to exempt 95% of businesses entities in 2007, it now only exempts about 60% in 2026 (and rapidly shrinking).

• The path to building wealth is being cut off: Financial independence is rarely achieved by earning a wage and spending it. For people to become comfortable or modestly wealthy, they generally need to save and invest the wages they earn. Enforcing a minimum 30% floor rate on all forms of capital gains, even for people whose income puts them below the 30% marginal tax bracket, makes it harder for wage earners to build wealth.

The bottom line is that this budget suppresses aspiration and socio-economic mobility – and I don’t think that’s what Aussies voted for at the last election.

[Dave Sharma @DaveSharma]

Under Labor’s new tax:

— You can walk into a casino, come out $1000 ahead, and pay $0 tax

— but if you make $1000 on shares/ETFs, you will pay $300-470 in tax

— if you build & sell a business, the ATO now takes 30-47% of your gain

Gambling is tax-free. Investing is punished.

[Proof of Sheila @ProofofSheila]

Which of you mad lads did this

https://t.co/2tPezXTdi1

[Proof of Sheila @ProofofSheila]

I am solo mining bitchessssssssssss!!!!!

[Proof of Sheila @ProofofSheila]

Just got home to find this on the kitchen bench 😍😍 I married a keeper!!!!

[Richard Holden @profholden]

I can't believe I'm saying this, but @Barnaby_Joyce is right. "You buy assets out of after-tax income." That's why every advanced economy taxes capital gains at a lower rate than ordinary/labour income. And if we want to lower the burden on workers th en we should tax labour income less and consumption more.
https://t.co/lYstzlhn60