Australian (ASX) Stock Market Forum

Useless Labor Party

Jump to new
Or maybe not...

The mistake they made is not doing this in the Gillard era when they moved the tax free threshold to $18K or whatever it is. It was a cash handout that's blown out and needs to be rectified. The travel claim between two jobs is another one that should go.

Just outta curiosity. Did we see these protests when the Abbott Coalition increased tax on super for low income earners?
 
The 5 billion this franking credit thing will raise is a lot of money, not sure how i feel about this as policy.
 
PZ99 said:
Or maybe not...

The mistake they made is not doing this in the Gillard era when they moved the tax free threshold to $18K or whatever it is. It was a cash handout that's blown out and needs to be rectified. The travel claim between two jobs is another one that should go.

Just outta curiosity. Did we see these protests when the Abbott Coalition increased tax on super for low income earners?
Click to expand...

The problem is, we are moving the money around in pleb world, and band aiding a huge problem.
Why isn't either of the major parties, imposing a volumetric tax on resources?
Our welfare system is very expensive and some would say unaffordable, we keep trying to rob Peter, to pay Paul.
Rather than putting in place a system of taxation that actually gives fair value for lost resources.
I've lived with my family in some pretty $hit places, and forgone a lot of luxuries, to save and become self funded.
It was obviously a stupid decision on my part.
I would have had a much happier home life, if I had just bought the aircon in NW W.A, rather than do without to keep the electricity bill down.
But hey you never stop learning in life, Bill hasn't mentioned anything about Julia's tax free pension at 50years old, has he? Or about his tax free indexed unfunded pension, that becomes due whenever he quits?
No you won't hear anything about that, from either side of the floor.
 
So_Cynical said:
The 5 billion this franking credit thing will raise is a lot of money, not sure how i feel about this as policy.
Click to expand...
It will depend on how much you rely on dividends, to support your pension.lol

Which comes back to an age related thing, the young will think it's great, until they become old.
One thing for sure, it is another nail in the supperannuation coffin.IMO
 
Garpal Gumnut said:
You will find that the ALP legislation has so many holes in it that it will make little difference.

I continue to sell off on highs heading to cash. Bring on a recession.

A recession is assured if the ALP get in with a minority government with the Greens.

If they win Batman, North Queensland will go Blue.

gg
Click to expand...

IF Labor get in, I think you are right on the money GG. I will be lightening on opportunity.:D
 
Humid said:
Why would Labor get in?
Think about that.
Click to expand...
Because firstly, the Libs have been an absolute limp Government under Turnbull.
Secondly, most people on the East Coast are financially stressed, by the constant media barrage with positive affirmation of their position.
Thirdly, the only ones they can take their frustration out on, is the current Government.
 
Soun
sptrawler said:
Because firstly, the Libs have been an absolute limp Government under Turnbull.
Secondly, most people on the East Coast are financially stressed, by the constant media barrage with positive affirmation of their position.
Thirdly, the only ones they can take their frustration out on, is the current Government.
Click to expand...

Sounds like every election in the last 100 years
 
Humid said:
Soun


Sounds like every election in the last 100 years
Click to expand...

Jeez I wish noco, could answer that post. I wonder if anyone has heard from him?

He was convinced the Labor party are full of communists, we all took it lightly, but as time goes on even the die hard's must wonder.:eek:

I really don't think he was far from the mark, the political drive from labor to take anything from anyone who has built something up, is amazing.
It is only surpassed, by their reluctance to give up any of their entitlements, which does reek of communism.:roflmao:
 
sptrawler said:
Jeez I wish noco, could answer that post. I wonder if anyone has heard from him?

He was convinced the Labor party are full of communists, we all took it lightly, but as time goes on even the die hard's must wonder.:eek:

I really don't think he was far from the mark, the political drive from labor to take anything from anyone who has built something up, is amazing.
It is only surpassed, by their reluctance to give up any of their entitlements, which does reek of communism.:roflmao:
Click to expand...

They could abolish penalty rates and give tax breaks to the big end of town that would fix things
 
Humid said:
They could abolish penalty rates and give tax breaks to the big end of town that would fix things
Click to expand...

Christ I've been retired for six years, penalty rates were abolished years ago in industry, they went to annualised salary. With exemptions for overtime.
Do you work in a small business?
 
I can't wait untill the dumb reporters, wake up to the fact it affects them, as they buy shares in their non working wife's name. :roflmao: what a hoot.
It is like time lapse photography. lol
 
sptrawler said:
Christ I've been retired for six years, penalty rates were abolished years ago in industry, they went to annualised salary. With exemptions for overtime.
Do you work in a small business?
Click to expand...

Casuals on an annualised salary
Sounds good
Where do I sign up
 
sptrawler said:
Jeez I wish noco, could answer that post. I wonder if anyone has heard from him?

:roflmao:
Click to expand...

I had a couple of correspondences when he was in hospital and later in home. He needed less anxiety and more of a relaxation lifestyle with his medical condition.
 
As a corporate tax base integrity measure, I agree with the principle of Labor's policy not to refund franking credits where income tax is not otherwise paid. In that context, the proceeds should perhaps be used to reduce the corporate tax rate.

I maintain the view that tax base integrity measures such as this should be implemented as part of a broader package of tax reform. The worry, as always in isolation is that it runs the risk of overall being a tax increase in part or in full and/or a bribe for tax cuts on a political basis rather than broader tax reform.

Politically, Labor have also been too crude with this as a blanket policy. Retaining an imputation credit refund upper limit for individual shareholders in conjunction with an exemption for existing investments would protect existing low income earners from the changes.

https://thewest.com.au/opinion/fran...elp-battlers-and-the-better-off-ng-b88772633z

Perhaps Labor will deal with this in other ways (increasing the age pension ??) but that likely greater erodes the revenue gain and smells of policy on the run when not announced in conjunction with the main policy measure.

Best wishes to Noco and I hope he's well again soon.
 
All this angst, rather than charge mining companies a $/volume tax, they would rather scrounge around robbing Peter to pay Paul.
Sad really.IMO
The labor and Liberal Parties, would rather screw over their own families, than tax the companies that are removing our non renewable resources.
It makes one wonder, where their loyalties lie and who sets their moral compass.IMO
I'm just one vote, but I find it really sad, that I can't decide who is the worse of two evils.
Australia really needs a another Statesman, who has a vision, not a personal survival plan.
 
Top