If Labor wanted to help young people, they would implement:
- a land value tax to attack land speculation,
- bracket indexation to stop inflation taxing wage growth, &
- broaden the GST to fund the revenue gap.
But they decided to go after young founders / investors instead.
$32 million dollars and an entire administration mobilized to destroy one congressman.
His crime?
Demanding answers about Epstein class abuse networks, and refusing to let child predators hide behind political cover.
If that level of firepower doesn't tell you who's being protected, nothing will.
Go Massie!
I didn’t even try or think very hard and got a $72 billion surplus. Land tax, reduced company tax, increased and broadened GST to 15%, reduced tobacco and alcohol excise, increased resources taxes, carbon price, reduced NDIS spending.
When you look at this you see how much money government is wasting. https://t.co/ePyHyy0QqE
So great seeing @leithvo on the Karl Stefanovic podcast. There's few economists that can really cut through the economic data in the way Leith does - take a listen.
https://t.co/gg4eURGKdz
In biotech, capital is mostly raised on the ASX. A carve out for VC and startups won’t help Australia’s medical innovators. It’s already almost impossible to make numbers work on 5+ year investments with low probabilities of success. If the ATO and @AlboMP take 30-50% of the rare winners, the numbers won’t stack up at all. Australian drug developers will either have to move overseas or (more likely) simply not be able to raise and commercialise, so more good Aussie science will stay undeveloped on the shelf
I love Australia but it is getting hard.
I am pro government and I pay taxes. I believe some social welfare is important and I accept that a lot of my taxes will be mismanaged.
But seeing the prime minister stand up and tell me he is making it easier for me to buy a house while absolutely slaughtering one of the most powerful tools for social mobility feels straight out of a totalitarian nightmare.
The most tax effective investments in Australia for individuals are now family homes and superannuation. The government says young people can’t afford homes and if you put money in Super you can’t touch it until you are in your 60s. So what is a young person actually supposed to invest in?
Australia is a country where if you win $500k on an 8 leg multi on SportsBet you won't have to pay any tax, but if you sell your business for $500k you'll have to give the government half.
What are we incentivising here?
How fucking retarded do you have to be to run your country this way?
In this video, @FreyaThinks breaks down how one of Africa's most functional states was dismantled, not by military defeat, but by Western liberal idealism that demanded revolution over evolution.
@TheKouk Its not about the founders, its about investors. Why would any investor risk their capital in an Australian start-up if the government takes half of the upside while absorbing 0% of the downside?
The only guarantee from recent history is that attempts to limit aspiration & ambition at the societal level inevitably fail. The only way to succeed is through totalitarianism.
Fix skewed incentives for people to (over)invest in property.
Don't kill entrepreneurship
You asked the wrong question.
The real issue isn’t just housing tax settings. It’s whether Australia should increase tax on businesses, shares, farms, start-ups and entrepreneurs, the productive lifeblood of the Australian economy.
And you may have asked the wrong group of people.
Many respondents may have already climbed the wealth ladder. Younger Australians trying to save, invest, build businesses and create wealth in today’s economy have a very different view.
Taxing long-term investment and aspiration more heavily risks driving capital, talent and ambition offshore.