Syzygy

[Syzygy @Syzygy88]

@LimayeVaibhavi @TalMorgan1991 @williamlegate Have you heard of the term "due diligence"?

The reason why you have to thoroughly investigate the status of the company *before* buying it is *precisely because* you inherit whatever baggage it has. The company is an independent legal entity regardless of ownership.

[Syzygy @Syzygy88]

@answermanc @road_blasters @ChrisHeHim1 https://t.co/KClHj9dvlY

You would need to be earning over $200k/year from the age of 21 to 67 to even *begin* paying more than 15% tax on earnings.

Given most people start out earning less and only get higher salaries later in life, it would need to be even more.

[Syzygy @Syzygy88]

@road_blasters @answermanc @ChrisHeHim1 BTW, I'd love to learn how to earn money from investments and not pay tax on it by "keeping it in my company holdings". And if that means not paying tax at all, why are the currently paying 15% tax on it in Super instead?

[Syzygy @Syzygy88]

@road_blasters @answermanc @ChrisHeHim1 Super is concessionally taxed to encourage people to save enough money during their working lives to avoid needing a taxpayer-funded pension in retirement.

If asking people to pay 30% tax on the amounts in excess of $3 million causes them to invest elsewhere, that's fine.

[Syzygy @Syzygy88]

@answermanc @road_blasters @ChrisHeHim1 My guess it was people who took advantage of the lack of limits in the past to exploit the low-tax nature of super investments.

It is unlikely that anybody will be able to accrue these sorts of amounts in the future under current caps regardless of the tax changes.

[Syzygy @Syzygy88]

@AusMMT @aljones42 @LaLegale @DrAMVRostramAO @mmt_guy @billy_blog BTW, you seem to think that the "admission" by Phil Lowe was such a shocking revelation that it warranted a meme, as if it was some deep, dark secret that changes everything.

Didn't you wonder why he "admitted" it so freely and nobody else was shocked?

[Syzygy @Syzygy88]

@AusMMT @aljones42 @LaLegale @DrAMVRostramAO @mmt_guy @billy_blog If it's a myth, why has every govt that tried to get themselves out of trouble by unfettered printing of money ended up with hyper-inflation and a collapsed economy? This hasn't happened just once, it happens *every single time*. And it *has* been tried. Often.

It doesn't work.

[Syzygy @Syzygy88]

@aljones42 @LaLegale @AusMMT @DrAMVRostramAO @mmt_guy @billy_blog But it gets harder the larger the debt becomes as a percentage of GDP, so there are limits.

Austerity obviously doesn't work. That has been shown to fail just as often as unlimited spending. There's no point doing experiments if we aren't going to learn from them.

[Syzygy @Syzygy88]

@aljones42 @LaLegale @AusMMT @DrAMVRostramAO @mmt_guy @billy_blog I read the transcript. I didn't see any great revelations.

BTW, Labor is planning to control the inflationary effects of its spending by targetting it at productivity-boosting measures, exactly as he proposes. Growing the economy is a legitimate way to manage debt and does work.

[Syzygy @Syzygy88]

@aljones42 @LaLegale @AusMMT @DrAMVRostramAO @mmt_guy @billy_blog I read the info. It wasn't complicated *or* new. Perhaps you thought otherwise because you were one of those people not familiar with economic terminology?

It also didn't support the belief that govts can create money willy-nilly, nor explain why Morrison wouldn't if he could.

[Syzygy @Syzygy88]

@AusMMT @aljones42 @LaLegale @DrAMVRostramAO @mmt_guy @billy_blog I'm not seeing "the big difference" you speak of.

[Syzygy @Syzygy88]

@aljones42 @AusMMT @LaLegale @DrAMVRostramAO @mmt_guy @billy_blog Why do you think it matters? It doesn't change the fact that whichever way you prefer to look at it, the government isn't free to create unlimited amounts of money as has been amply demonstrated by multiple countries attempting just that over the years.

[Syzygy @Syzygy88]

@LaLegale @aljones42 @AusMMT @DrAMVRostramAO @mmt_guy @billy_blog The answer is obvious. We have not only theoretical considerations of what would happen, we have numerous *actual* examples. This *has* been tried, many times. Ask Mugabe how it panned out.

[Syzygy @Syzygy88]

@LaLegale @aljones42 @AusMMT @DrAMVRostramAO @mmt_guy @billy_blog Taxes are unpopular.

Govt debt is unpopular.

So much so that they formed the core of Abbott's entire election campaign.

So why would *any* govt not avoid both of them if they could? Why did they go on to being the 2nd-highest taxing *and* highest-debt govt in Oz history?

[Syzygy @Syzygy88]

@AusMMT @LaLegale @aljones42 @DrAMVRostramAO @mmt_guy @billy_blog Inflation *is* a tax. Sorry. And whether spending leads to inflation or not depends on the nature of that spending and the amount of it. Insufficient spending can lead to *deflation*, a much bigger problem.

[Syzygy @Syzygy88]

@AusMMT @LaLegale @aljones42 @DrAMVRostramAO @mmt_guy @billy_blog Money is "created" to spend. Created money that isn't actually *used* is uninteresting.