@grok @AshPolitik @AshPolitik I never picked you as a supporter of stripping from the poor to give to the rich, but here you are.
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Mitty
2.3K posts
Mitty
@mittyj00
Actively try to disprove your own narrative. You might learn a thing or two.
Australia Inscrit le Temmuz 2009
280 Abonnements113 Abonnés
**Yes.**
Treasury estimates superannuation tax concessions will cost ~$59.5 billion in forgone revenue in 2025-26 (up sharply from earlier forecasts), roughly matching or exceeding Age Pension expenditure (around $55-60 billion recently, per prior data and trends).
They disproportionately benefit higher earners: top 10% get ~32-43% of contribution/earnings concessions; top 20% get over two-thirds overall. This is funded via general taxation, so lower-income workers help subsidize the larger breaks for the wealthy. Compulsory super does reduce some future pension reliance, but most benefits go to those unlikely to need full Age Pension anyway. Reforms now apply 30% effective tax on earnings above $3m balances.
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That's fantastic.
Super is benefit for all, and Australian workers.
I voted for this.
Senator Andrew Bragg@ajamesbragg
Jim Chalmers has given Paul Keating’s super funds the biggest tax leg up in a generation. His new 30% CGT won’t apply to super funds. What a country.
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Mitty retweeté
I have long advocated for changes to negative gearing and the CGT discount as it relates to housing.
Shorten was right about this in 2016 and 2019, which I have said before, both in print and on Twitter numerous times.
I'm not sure its a hard political decision.
Hard in times of complaining lobbyists, but politically neutral or perhaps advantageous long run.
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Sometimes I think, Australia doesn't deserve change.
The cohort of people that are easily duped via scare campaigns and disinformation is astonishing.
The same whingers who say the government does nothing.
From Gillard years, 2019 election, The Voice, now the 2026 budget.
You all revert to primitive minded dark ages rather quickly.
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@bowtiedstocks @Harold36089778 Mate the country is uncontrollably corrupted. From this to the Victorian unions stuff to the consulting industry to ndis to indigenous industry to housing to education like seriously point to an industry either not corrupted or stands on its own feet without government?
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Years ago for a small period of time I spent some time working alongside State govt in a financial consulting capacity
What astounded me was these 'business cases' that were prepared for large infrastructure projects such as suburban rail loop or inland rail etc
You would have teams of people spending months if not years pulling them together
But the answer was always predetermined by govt - the funny thing was there were offices full of financial, procurement, engineering people etc backfilling the numbers to justify the business case
Often, it would only become cost benefit beneficial due to some vague bs such as 'economic multiplier' or 'agglomeration benefits'
Truly a crock of horse shit
And that is before the costs blow out 10x over
I never used to think Australia was a corrupt country - now I see how extremely naive that was !!
BowTiedStocks@bowtiedstocks
First cross river rail, now inland rail Another taxpayer funded welfare project… You’re gonna need a damn good wheelbarrow
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Repeat slowly. Think about it.
Inflation. Was. Rising. Even. Before. The. Oil. Shock.
Stephen Koukoulas@TheKouk
It is still somewhat odd that the RBA is the only major central bank to be worried enough about inflation to be hiking, doing it 3 times & now have a 4.35% rate. In the last few weeks, the US Fed, the ECB, RBNZ, Banks of England and Canada have all passed on hiking even with the oil shock impacting inflation in much the same way as in Australia
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Mitty retweeté
@DaveTaylorNews The magic pudding situation where you get to keep rates low and avoid inflation and avoid less growth doesn’t exist so thankfully the adults are making decision to try and minimise the worst case which is higher inflation for longer.
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Western Australia just bought its own diesel reserve.
Not from the federal government but a separate state owned stockpile, stored in Wyndham in the Kimberley, controlled entirely by WA. Not to be shared with any other state.
The reason is that some of the fuel counted in Australia’s national reserve isn’t physically located in WA. It can’t reach remote communities, mining operations or farms when the distribution chain breaks down, which it did in March, when some WA miners were running on 5 days of supply.
WA uses a quarter of Australia’s total diesel. The deal they just signed is 4 million litres, potentially expanding to 12 million.
The agricultural sector alone is already 10 million litres short. At best, this buys less than 4 days.
The national stockpile is now down to 31 days of diesel. The IEA minimum is 90.
Australia hasn’t met it since 2012.
A whole state government had to buy its own fuel reserve because it can’t rely on the national one.
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Exquisite from Andrew Bolt. Hits the nail on the head.
adelaidenow.com.au/news/opinion/a…
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@kazza264 @BLUEfingers2021 I'm an EV owner, but there is no "just buy an ev instead" for 90% of people....
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@BLUEfingers2021 Just buy an EV instead from China or Europe
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Just to be clear, I'm not refuting @TMFScottP's point, he is correct. I'm only expanding on it. It's past due we do a critical analysis of our entire supply chain and take out insurance. The next supply shock will be 100 times worse, and it could be sooner than expected.
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If I buy a Ferrari, and don't insure it, sure I'm a little richer. But then if someone else runs into it, sure I can say it wasn't my fault - but I'm now down a Ferrari and much worse off.
Australia failed to insure itself, to make itself a little richer, for a while.
Scott Phillips@TMFScottP
I know we all know this, but it bears repeating that the fuel issues we're having are the result of a US administration that thought starting a war was a good idea. The same bully who then said 'unless you join my gang you can go to hell'. Totally avoidable.
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@AshPolitik Albo could murder someone on live TV and you'd claim it was a good thing and done out of compassion. You are the one who will always vote a certain way.
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Selfish arrogant people think and act this way, and always vote a certain way. Right wing.
Tarric Brooker aka Avid Commentator 🇦🇺@AvidCommentator
If you listen very carefully you can hear your fellow Australians checking if their local Bunnings is still open to go buy a jerry can. So inspiring was Albo's speech...
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@rationalaussie strait closed, troops moving, allies rationing, and everything else is noise is the cleanest signal extraction on the timeline today
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It amazes me that people still see these Trump headlines from various news articles and attribute any level of signal to them.
It's all noise - literal propaganda to confuse both you and the enemy.
You really think these 'insiders' would leak any material plans?
This is a classic case of look at what they do, not what they say.
The signal here is very straightforward:
1. Is the Strait open? No.
2. Are ground troops moving into position? Yes.
3. Are countries not involved in the conflict, but who are privy to classified information, beginning to implement rationing and other measures which would indicate a prolonged closure of the Strait? Yes.
That's all the signal you need friends.
The headlines are all BS.
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This is absolutely GOATed, world class journalist trolling by @andrewbogut
You won’t see the likes of this again, take a bow son
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Mitty retweeté
This is the type of magic pudding politics that has got us into this position. I have a diesel car, I’d love relief, it’s a terrible idea when there’s very real supply issues. Having me drive less because it costs more is an important tool governments should not concede.
Jeremy Rockliff@jeremyrockliff
Today we’re calling for Canberra to cut the fuel excise. And it can’t be the only lever they pull. But it’s a solid first step to protect Australians from these significant fuel price increases.
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@matt_barrie @matt_barrie respectfully disagree that the excise should be cut (yet). We shouldn't be stimulating demand in a supply crisis. Maybe once supply has normalised. No point in having cheaper Diesel when you can't buy it.
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@Peter_Fitz @grok C’mon Pete! This from you who consistently defends (rightly so) your columns being behind a paywall.
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@grok has just gone to subscribers only?
WHat is the best free AI platform?
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