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Has the Grattan Institute 'shot its bolt'?; Seems that they just might have begun being reduced to trying to dig up 'loose pocket change' type options these days ...
Topic Started: 25 Nov 2016, 01:59 PM (6,019 Views)
herbie
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Will
25 Nov 2016, 09:28 PM
My personal preference is for this government to spend less money. But that's not likely. Hence why they are looking for chump change savings.

The second choice I would like, is for the country to more closely link reward to your contribution to productivity and this country. One aspect there, is if someone gets a good windfall because their parents are well off, and have died (we all must die), I don't see why they can get all this tax free.

Remember I need to get the shit taxed out of me, for doing productive work. I'm not talking confiscating the wealth, just a much smaller tax in percent terms then I get to pay for busting my arse for this ungrateful country.
I saved and built an asset base so me and mine can benefit from it Will; Not you and yours - Namely not Others generally.

And as a debt free housing investor who is also heavy cash, the greatest financial threats to me and mine in my retirement that I can see, are not market related - As in crashes or even volatility in stocks or bonds markets or housing prices or even inflation/deflation; Hell, interest rates even aren't all THAT big a deal.

Rather, the greatest financials threats to me and mine that I can see are government related - With the two biggest being 1) death tax and 2) land tax. (With changes to regulations regarding super coming is as number 3.)

Funny ole world where a man going into retirement ends up identifying his major potential risks as coming from his own government/s rather than any 'free market' forces as such hey? ... :) But anyway, there you have it.

Now when a man sees threats/risks out there what does he do? - Well, me at least, I try to get some sort of backup plan figured out.

And as much as I've strongly/very actively rejected the thought in the past, I'm now very much coming to accept that my ultimate backup plan simply has to be to divest myself of significant assets (should that become necessary; and specifically by gifting them as I approach pension age) so I can get on the full aged pension when I'm eligible age-wise.

With that being an option for me in my retirement as best I can guess looking forward. (Though it may no longer be for you in yours if you are a very much younger person than me possibly.)
Edited by herbie, 27 Nov 2016, 06:25 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Rufus
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herbie
27 Nov 2016, 05:43 PM
I saved and built an asset base so me and mine can benefit from it Will; Not you and yours - Namely not Others generally.

And as a debt free housing investor who is also heavy cash, the greatest financial threats to me and mine in my retirement that I can see, are not market related - As in crashes or even volatility in stocks or bonds markets or housing prices or even inflation/deflation; Hell, interest rates even aren't all THAT big a deal.

Rather, the greatest financials threats to me and mine that I can see are government related - With the two biggest being 1) death tax and 2) land tax. (With changes to regulations regarding super coming is as number 3.)

Funny ole world where a man going into retirement ends up identifying his major potential risks as coming from his own government/s rather than any 'free market' forces as such hey? ... :) But anyway, there you have it.

Now when a man sees threats/risks out there what does he do? - Well, me at least, I try to get some sort of backup plan figured out.

And as much as I've strongly/very actively rejected the thought in the past, I'm now very much coming to accept that my ultimate backup plan simply has to be to divest myself of significant assets (should that become necessary; and specifically by gifting them as I approach pension age) so I can get on the full aged pension when I'm eligible age-wise.

With that being an option for me in my retirement as best I can guess looking forward. (Though it may no longer be for you in yours if you are a very much younger person than me possibly.)
People are petrified if running out of money in their retirement and dying in abject poverty and misery, as has happened to many previous generations.

If you think about it, because the aged pension isn't universal, those who have done OK but aren't millionaires, HAVE to hold out for a high price when they sell their homes, so they can be self funded.

Every time the government punish the aged financially, they entrench their desire to sell out for a high price.
Gotta love the irony of life.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Jon Snow
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herbie
27 Nov 2016, 05:43 PM
I saved and built an asset base so me and mine can benefit from it Will; Not you and yours - Namely not Others generally.
Let me guess. You went to private schools your whole life, you lived in a gated community with private security to protect you, you took the family helicopter to work, eschewing the public roads, your family employed a private doctor and any hospital visits were to private hospitals.
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Rather, the greatest financials threats to me and mine that I can see are government related - With the two biggest being 1) death tax and 2) land tax. (With changes to regulations regarding super coming is as number 3.)
Relax, you are a baby boomer. You have been carried like a f***ing baby your whole life and that will continue until you die. No promises after that though.
Quote:
 
Now when a man sees threats/risks out there what does he do? - Well, me at least, I try to get some sort of backup plan figured out.
Don't worry. No one in your generation is going to vote to end the lifetime of coddling you precious little princesses. And your children are not going to vote away their inheritance. The only real threat is that all of the wealth creators emigrate because they are tired of carrying you and your parasitical little slurps, and the country becomes a banana republic. Then you will need to pay for more private security to your gated community and maybe take out kidnapping insurance.
Quote:
 
And as much as I've strongly/very actively rejected the thought in the past, I'm now very much coming to accept that my ultimate backup plan simply has to be to divest myself of significant assets (should that become necessary; and specifically by gifting them as I approach pension age) so I can get on the full aged pension when I'm eligible age-wise.
A solid plan, and worthy of the finest socialist.
Speak when you are angry and you will make the best speech you will ever regret.
Ambrose Bierce
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herbie
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Jon Snow
27 Nov 2016, 07:05 PM
Let me guess. You went to private schools your whole life, you lived in a gated community with private security to protect you, you took the family helicopter to work, eschewing the public roads, your family employed a private doctor and any hospital visits were to private hospitals.

Relax, you are a baby boomer. You have been carried like a f***ing baby your whole life and that will continue until you die. No promises after that though.

Don't worry. No one in your generation is going to vote to end the lifetime of coddling you precious little princesses. And your children are not going to vote away their inheritance. The only real threat is that all of the wealth creators emigrate because they are tired of carrying you and your parasitical little slurps, and the country becomes a banana republic. Then you will need to pay for more private security to your gated community and maybe take out kidnapping insurance.

A solid plan, and worthy of the finest socialist.
That's just a personal attack - Albeit a rather verbose one ... :)
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Jon Snow
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herbie
27 Nov 2016, 07:09 PM
That's just a personal attack - Albeit a rather verbose one ... :)
I thought I was being re-assuring, albeit in a round-about way.
Speak when you are angry and you will make the best speech you will ever regret.
Ambrose Bierce
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herbie
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Jon Snow
27 Nov 2016, 08:10 PM
I thought I was being re-assuring, albeit in a round-about way.
That's nice - But on tha off chance ya not feelin' re-assured now, have a chat ta a professional about it maybe? - 'Cause I don't personally give a f*** about your problems; Given I've got me own 'n wot not ... :)
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Jon Snow
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herbie
27 Nov 2016, 08:18 PM
That's nice - But on tha off chance ya not feelin' re-assured now, have a chat ta a professional about it maybe?
No genius, re-assuring you that the lifetime of loot you stole from society is not going to be taken away from you.
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'Cause I don't personally give a f*** about your problems;
Thank Christ for that! I couldn't think of anything worse than you trying to help.
Speak when you are angry and you will make the best speech you will ever regret.
Ambrose Bierce
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herbie
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Jon Snow
27 Nov 2016, 08:22 PM
Thank Christ for that! I couldn't think of anything worse than you trying to help.
Ya welcome. Not givin' help ta you is definitely one of tha things I continue aspirin' ta excel at ... :)
Edited by herbie, 27 Nov 2016, 08:37 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Will
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herbie
27 Nov 2016, 05:43 PM
I saved and built an asset base so me and mine can benefit from it Will; Not you and yours - Namely not Others generally.

And as a debt free housing investor who is also heavy cash, the greatest financial threats to me and mine in my retirement that I can see, are not market related - As in crashes or even volatility in stocks or bonds markets or housing prices or even inflation/deflation; Hell, interest rates even aren't all THAT big a deal.

Rather, the greatest financials threats to me and mine that I can see are government related - With the two biggest being 1) death tax and 2) land tax. (With changes to regulations regarding super coming is as number 3.)

Funny ole world where a man going into retirement ends up identifying his major potential risks as coming from his own government/s rather than any 'free market' forces as such hey? ... :) But anyway, there you have it.

Now when a man sees threats/risks out there what does he do? - Well, me at least, I try to get some sort of backup plan figured out.

And as much as I've strongly/very actively rejected the thought in the past, I'm now very much coming to accept that my ultimate backup plan simply has to be to divest myself of significant assets (should that become necessary; and specifically by gifting them as I approach pension age) so I can get on the full aged pension when I'm eligible age-wise.

With that being an option for me in my retirement as best I can guess looking forward. (Though it may no longer be for you in yours if you are a very much younger person than me possibly.)
You would be pleased to know, I'm not advocating taxation of all your wealth. Just a small sum above a certain threshold. And I really do mean a rather small amount in percentage terms.

To me, it's a rather old fashioned idea that money should be passed down the blood lines. Or land. Why? Is that fair? Why should someone be far richer then me because of what their forebears did, rather then on merit? Is this system allowing an ever growing disparity among the people? Many questions.

The other issue, and you've hit the nail on the head with the suggestion on land tax. As a country, we seem to have an ever growing problem by simply taxing income, and not having some level of taxation of capital. Frankly, I don't think we have any other good solutions at this point. I would consider myself close the limit in the amount I'm taxed. I'm taxed heavily on my income.

The world is a competitive place, countries are competing with each other to lower company tax rates. Indeed Australia is starting with small business tax cuts. Essentially there is little scope to raise revenue through company tax.

But we've got a budget deficit of 40.Billion a year and growing. Aged pension and health care costs are set to continue growing at 7% plus each and every year, so Scott Morison's job isn't set to get any easier.

The lastest ploy by the government is dropping business travel for life, for 20+ year pollies. Really? This will be lucky to save 40 million a year. So that means the government needs to find anther 999 of these little savings measures. Good luck on that one.
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herbie
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Will
27 Nov 2016, 09:27 PM
Is that fair?
Ding, ding.

The minute someone starts telling me what they reckon is 'fair' and why they reckon it's 'fair' and why they reckon I should reckon it's 'fair' and that them (supposedly) having now convinced me it's 'fair', should influence my thoughts on it, my bullshit detector goes off.

Pollies (and their lobby groups) do that shit ALL the time - And they're both right up there firmly entrenched amongst the very biggest bullshit merchants of all time.

F*** 'fair' - I've had a gutload of 'fair' - Tell me about what's in it for me and mine ...
Edited by herbie, 27 Nov 2016, 10:20 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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