AverageJoe

[AverageJoe @average_jo21098]

@kevinbonham I sense a change amongst the winds. Labor on the nose more and more

[AverageJoe @average_jo21098]

@_warrenhogan Household consumption difficult to contain with all these drawdowns.

[AverageJoe @average_jo21098]

@CallamPickering This is a bonkers stat considering how much AI is saving on admin time tasks, etc.

[Evan Mulholland MP @evmulholland]

A Cabinet leak has found Jacinta Allan's entire cabinet was briefed about Labor's secret PT Tax in 2024. Ben Carroll knew. They all knew. It's time for a fresh start.

https://t.co/0Pgy5EogtU

[Dekka @DerekFranc90653]

Dave Hughes in Australian today:
“The left’s politics is often hypocritical and it’s actually really bad for the country,” he says sharply. “They are so economically illiterate that it is mind boggling, and they are f..king this country massively.”

https://t.co/4tpYuIZwoR

[Dekka @DerekFranc90653]

The economist academic paper cited in weekend AFR shows what an absolute shit show the new capital gains is. Under the assumption of just 1% per year real asset price growth, the new tax takes 98% of your gain, as per picture below. A 66% increase in effective tax rates!

[AverageJoe @average_jo21098]

@markbouris My biggest concern listening to this was my realisation how indoctrinated school kids must get by having these socialists teach them in the classroom. The Greenies will be very happy.

[Leigh Jasper @leighjasper]

I'm in San Francisco this week. So is the Deputy Prime Minister, but we’re here for very different reasons.

He's meeting with Anthropic and OpenAI, working on Australia’s data centre pipeline.

I'm here as the co-founder of @_Firmable and a Partner at @GlitchCapital, meeting with Australian founders who moved here this year. The CGT changes came up in almost every conversation as part of the reason they left Australia to build their business in the US.

What a mess.

The AFR published two opinion pieces todaythat demonstrate this shambles.

In the first, Treasurer Jim Chalmers set out how Australia can benefit from AI if we get it right. And that’s a big if. The headline number he was spruiking was $150 billion of data centre investment by 2030.

Jim, data centres are the bottom of the stack. Concrete, power and imported GPUs. Enormous capex, very few jobs, and negligible compounding growth for our country. If that's only our AI strategy, we’re in trouble, as we're importing expensive chips, hosting someone else's product, and then buying the intelligence built on top of it at full retail.

The bigger opportunity is in using and complementing the frontier models. Products built on top of frontier models that solve real business problems. That's where jobs are created and where the productivity Chalmers is chasing actually comes from. I’m seeing it at what we’re building at Firmable, the companies we invest in at Glitch and the founders I’m meeting in the Bay Area.

In the second op-ed, @Shaun_Cartoon laid out what Chalmers is actually doing to the people who build that layer. Effective rates for founder and employee equity are doubling to 47%, which is why founders are leaving.

Australia is courting the frontier labs on one hand, and taxing the hell out of the Australian founders and builders.

You can't be a value-add exporter of AI when the value-adders are in San Francisco.

If Australia is serious about backing innovation, restore the 50% CGT discount for all businesses. This alone will generate far greater productivity gains for our country than data centres will.

[Martin Rogers 🇦🇺 @martinfrogers]

I have known Lang Hancock’s grandson, John Hancock @john05970496, for years—as a friend, and as an investor. He told me this story a long time ago. I have been thinking about it today.

In 1960, a government geologist looked at the Pilbara and wrote, in effect, that Australia was running out of iron. There was some ore, he allowed, but not enough even for the country's small steel industry. Exporting it would be reckless. Canberra agreed. The ore was embargoed.

Lang Hancock spent the 1950s and the first half of the 1960s asking for permission to sell overseas. The answer was no. The analysis, it turned out, was off by tens of billions of tonnes.

The ban came off in the mid-1960s, after nearly two decades of lobbying. What Hancock did next never appears in the white papers. He found the money. He hustled for the customers. He assembled the geologists and the engineers, and the trucking men who followed the ore.

Last year that ore was worth $126 billion. Add the wages, the ports, the rail, the contractors, the shops in towns that exist because the trains still run, and you are looking at something like 450,000 jobs and more than $30 billion a year in tax not to mention the retirement system reaps the investment returns today from iron ore. That is one of the reasons Australia is a rich country.

A country that wants the next Hancock does not write tax rules that treat a wager as a moral failing. The latest CGT proposals do exactly that. They discourage the bet that creates the mine, the plant and the payroll. That is not the thinking that turned a bad embargo into a national fortune.

Prosperity is not a natural resource. It is what happens when someone is allowed to find one. We have no trouble holding our sporting stars in high regard. We should do the same for our entrepreneurs.

[Pete Wargent @PeteWargent]

Believe. Belong. Become.

Brisbane 2032

[AverageJoe @average_jo21098]

@TheKouk Joye +Hogan 15
Kouk 0

[Michelle @ricochet_888]

They may call them selves Labor but there’s not one person among them that’s ever done a true day of Labour at all 🥴

[christopher joye @cjoye]

Labor has added 28 public servants every day. Is that too much? https://t.co/pKYlBZ6Z2K

[Adam Creighton @Adam_Creighton]

One Nation is criticised for 'lack of policy detail'.
This is the 2026 allocation of Personal Staff to parties and leaders.
(Allocated at Anthony Albanese's discretion).
Outrageously biased against ON.

[Dave Hughes @DHughesy]

This wins tweet of the day if it isn’t a parody. Tax changes are law because @AlboMP and @JEChalmers and the rest of @AustralianLabor lied repeatedly during the 2022 election campaign on Negative Gearing and CGT, because they knew if they didn’t they would get rejected like their former leader @billshortenvcuc did. It’s law by deception and we will remember their con, come next election.

[Dave Hughes @DHughesy]

Albo is right. Dishonesty is causing Labor’s downfall. He just doesn’t get that it is his own lying that has caused the landslide. They should dump him now, but who do they put in? It’s a very bare cupboard. So many in that federal cabinet are compromised. Trust is gone.

[Tony Tardio @tonytardio]

Do you think young Timmy here realises how ridiculous he sounds.

[Campbell Newman @CampbellNewman]

Take a bow @JEChalmers.

The Secret Harbour WA result is on you and your horror "smash and grab" budget.

People aren't moving on, because they are learning more each week about the awful implications for their families and businesses.

You have been found out.

And are taking the ALP Federal Government down with you.

[Institute of Public Affairs @TheIPA]

“It’s the biggest racket in the country.”

Adam Creighton argues in The Australian that compulsory super is forcing workers to save more than they need to, while the superannuation industry is charging them $34 billion in fees.

📺 Read more: https://t.co/VqUsxW8Uv0

#Superannuation #AustralianWorkers #EconomicPolicy

[Pauline Hanson 🇦🇺 @PaulineHansonOz]

One Nation has taken a seat where the Liberals have never been able to challenge Labor.

We are the only party that can take the fight to Anthony Albanese where the Liberal Party never could.

Because Australians are looking for someone who will actually stand up for them.

We’re not splitting the conservative vote.

We’re taking on the political establishment.