This Yes Minister Episode captures why the new capital gains tax is so insane: death of direct share investing, death of mining exploration, small cap IPOs, death of tech, bio tech, medical research. All for no gain at all. In the word's of Sir Humhrey, "Courageous"
Missed it, did they mention that small % of flats in the new Build to Rent towers, which they entice O/S companies to finance and own, with huge tax breaks, that locals don’t get, are ‘affordable housing’ if at 75% market rate. Who polices what market rate is? It won’t be the Govt, because they don’t police anything. And even if it is, it will be housing that people on low incomes won’t be able to access. And all profits flow o/s. Labor Govt are crowing about these ‘affordable homes’. Just taking more workers out of any possible home builds Aussies could actually own. The Federal Labor Gov’t gets worse the more attention you pay. They must go. I’d rather a dead wombat run the country, and it can have the whole salary of the whole Federal Cabinet.
As someone who grew up in the Muslim world, I’ve seen this pattern repeat itself:
When Muslims are weak and in the minority, they speak endlessly about tolerance, coexistence, and peace.
When they become strong and gain power, that tolerance completely disappears, even toward their own people.
This isn’t an opinion. This is historical fact, proven across centuries and across many countries.
The West needs to understand this pattern before it’s too late.
Tolerance in Islam is not a principle. It’s a strategy.
Look at this exchange and you’ll see the Moral Translation force I talk about in this essay and many other operating in real time.
Craig Hill gets a critique from @dhughesy rooted in material reality, tax settings, property investment, the everyday pressures squeezing families trying to buy a home or keep the lights on, and what does he do?
He doesn’t engage the substance. He doesn’t offer numbers, lived experience, or policy outcomes.
Instead he translates it instantly into moral failure: “personal attacks against people you know nothing about,” “try to do better,” “this is not humour,” and a condescending offer of a mental-health chat thrown in for good measure.
Notice the process
Material complaint goes in.
Moral verdict and character lecture come out.
This is the mechanism I described.
The governing class and its propagandists live separated from the consequences they help create, then use moral language to police anyone who notices.
The real strain on ordinary Australians, housing costs, bills, service collapse, disappears behind accusations of bad character or insufficient virtue.
Once you see the pattern, you see it everywhere. The debate is never joined on the ground where people actually live. It is moved to the courtroom of false moral decency, where the critic is put on trial , denounced and the system walks free.
That’s how the squeeze is maintained.
https://t.co/aE792u5feE
The Australian economy isn’t working anymore , it’s collapsing and only being held together by foolish govt debt based life support. Like 80% of NDIS spending .
Instead of building real industries or raising wages, we’ve turned the whole thing into a giant real-estate Ponzi scheme. House prices keep inflating, people borrow against that paper wealth to keep spending, and the entire “growth” story now depends on ever-rising debt.
The RBA is actively pushing the financialisation of housing so ordinary wages get sucked straight into the banks. Central bank independence isn’t working for Australians it’s working to financialize workers wages for benefit of the banking sector .
Banks don’t create any new wealth , they’re just unremarkable middle-men skimming rent from the rest of us. It’s a classic debt-enslavement trap.
To hide how broken the system really is, governments have opened the floodgates to mass immigration. It pumps up the GDP numbers, props up the housing bubble with more buyers, and creates a bigger pool of voters for short-term political gain.
And the money doesn’t even stay here: in 2022 alone, Australians sent USD 6.546 billion overseas in remittances , enough to rank Australia among the world’s top 25 remittance-sending countries and equal to 1.4 % of all global remittances.
That flow has grown faster than the global average since 2000, with the biggest shares going to China, India, Vietnam and the Philippines, plus major contributions to Pacific island economies like Tonga, Samoa, Vanuatu and Fiji.
In other words, Australian wages are now subsidising foreign economies while the same immigration surge drives up rents and house prices at home.
It’s a cynical, disgraceful tactic: use immigration to paper over an economic crisis and rig the electorate, while the country’s long-term social fabric, infrastructure, wages and affordability are quietly destroyed.
The supposed “growth” is mostly just more people and more debt , not prosperity.
Sooner or later the bubble pops, and the bill lands on ordinary Australians.
Sooner has arrived .
I see the Parliamentary Budget Office is also calling out the bullshit modelling in the Federal Budget, as I have done with the world’s highest capital gains tax at 60 per cent tax rate. Good on them. Retweet
It’s all Hogwash and Geoff Francis via @FinancialReview just confirmed it: @AlboMP & @JEChalmers ‘s new CGT can push effective tax rates on retail investors up to 80%. Their own comments says it will "bias retail investors heavily against risk-taking." That's not reform, that's economic vandalism. #ScrapTheCGTHeist #hogwash
Gov’t didn’t pay extra as their workers above min already. 30% of rise went to Govt in tax. Burden on small businesses, they folded at record rate. Better idea, first 52k(new min) is tax free. Immediate 20% rise in real income and private sector can bring productivity back.
If your ONLY income is a share portfolio and you EARN 18,000 a year
Previously yould pay no tax, low income earner
Now? 30% so yould be up for $5,400 in tax
They don't want you to own anything. If you invest in stocks in Australia, high income earners could expect to pay up to 47% tax, even children with stocks in their name can expect a 30% tax bill when sold at profit.
Reserve Bank staff have rejected a proposed 9.5 per cent pay rise, with the union saying that wages are falling "dangerously behind" inflation and those of comparable employers. https://t.co/gpQnW8EE1j
A Treasury modelling error in Jim Chalmers’ budget means investors face a far higher effective impost than previously understood. Read the full comment: https://t.co/4kkcsNLEuR
"There is no difference between communism and socialism, except in the means of achieving the same ultimate end: communism proposes to enslave men by force, socialism-by vote. It is merely the difference between murder and suicide."
— Ayn Rand
🚨 Treasury’s own modelling error exposed: Two investors with identical cost bases & identical net profits can now face completely different tax bills under @AustralianLabor ’s CGT changes. Great interview @clairlemon
This isn’t tax reform, it’s bureaucratic incompetence weaponised against Australian investors, entrepreneurs and retirees. Economic vandalism!
A total disaster for aspiration and capital formation.
Who’s accountable, @JEChalmers?
#ScrapTheCGTChanges #AussieInvestorsDeserveBetter