Bo Reidler

@australian @cjoye Bullshit. There are more options for the young to invest in than previous gen’s. In fact once the hysteria campaigns like this one passes the young will have many more options.

Labor’s budget tax grab will force Gen Z and Millennials to take a much slower path to wealth than their parents. Read more: bit.ly/3Rjl0oQ

@ChrisMinnsMP your example is wrong. You’re not fit to be premier if you don’t understand how marginal tax rates work. Rectify your moronic comments!

@clairlemon @kimchi_trades You’re pushing bullshit. 47% only on the part over $190k of your marginal tax rate.

@kimchi_trades This is the gist of it x.com/Dannythe_Degen…

It has never been more obvious that socialists don't actually care about working people, they just hate the rich.

QT @TimWilsonMP investors hardly buy assets with post tax income. You’re lying by omission. Most asset purchases are bought with borrowed $’s. You’d be mad to risk your savings on risky ventures or assets. From your own propaganda team: news.com.au/finance/real-e…

@MJBiercuk @abcnews Sure but the idea for the business has to stack up. And even then returns won’t necessarily be forthcoming in the short or medium terms. Took Foxtel 10+ yrs to turn a profit.

@2020digging @abcnews We want to build businesses that generate positive free cash flows. That drives value, and much of the equation is around trading shares in those businesses - either in small parcels or wholesale M&A/liquidity

The hysteria of business community opposing these changes, promoted by @abcnews, is propagated by a tiny minority of Murdoch, Ch7&9 editors. Why is #afternoonbriefing pushing the lie? NB: CGT is paid on the sale of assets. No one should go into business with this as an aim.

@Chip_Prospect @abcnews Most investment is off bank loans. You’d be mad to use your own money to start a business. Even if you had plenty.

@2020digging @abcnews Why would anyone risk their money (which is left over after they have paid income tax) to invest and build jobs and wealth if any returns they make is then taxed at the highest capital gains tax in the world. Why smash young people, lower and middle class and small businesses?

#afternoonbriefing it’s hard to understand why a startup is anymore special than other starting businesses. The differences b/w the current CGT & future changes isn’t as great as she makes out, according to govt sources. And she doesn’t tell us what they are?

#afternoonbriefing what is Karvelas talking about? Does she actually know the differences b/w nominal and real gain? Know what a startup is? How & when CGT affects a business or investor? The rates of the concessions applicable to both?

Small business owners take an opportunity to blame others for their own struggles? Small businesses are not affected by CGT when running their businesses. Times have changed some businesses are less popular & some are poorly run. Some are profitable & long lasting.

@clairlemon @cjoye You’re exaggerating and you know this. Or, you obviously don’t understand what these changes entail. Or both!

Have been arguing with people on Reddit about Chalmers' budget & CGT changes. The people defending the budget seem to think that only rich people start small businesses & that anyone with a capital gain won't notice they're paying half of it to the government.

@alisterberkeley @cjoye We can’t have the public continue to subsidise businesses. Which is what NG and CGT demanded up to now. Esp when so many businesses fail due to poor research and practice. As well, demand is a fickle thing. What is in fashion one day is gone the next. There are no guarantees.

@alisterberkeley @cjoye No one is disputing that tax isn’t a concern. But the current hysteria surrounding the CGT changes is just that. And just because you’re in business it doesn’t guarantee success. I have run a business for 30 yrs I’m aware of most issues. CGT was never at the forefront of any.

One scenario that exposes the weakness in the budget is the ordinary wage earner who has worked for decades, paid tax on every dollar of salary, and slowly paid down the family mortgage. That person then decides to do something Australia should want more of: take a risk, redraw against the house, and start a business. This is not abstract capital. It is accumulated after tax labour being put at risk. Many entrepreneurs seed their first business this way because they do not have access to venture capital, family office money or institutional balance sheets. They risk the home because that is the only capital base they have built. The policy problem is that Australia is making the reward for that risk less attractive at the very moment in history when it should be encouraging private enterprise, productivity and new business formation. If the venture fails, the founder wears the loss personally. If it succeeds, the state wants a larger share of the upside @GeoffWilsonWAM That asymmetry matters. It tells the wage earner who is thinking about becoming a founder that the downside is theirs, the house is theirs to risk, but the upside is increasingly shared with government. That is not how you build a more entrepreneurial economy @cjoye

#QT @TimWilsonMP gets stumped with his fictitious hypothetical story after an excellent question from Speers.

@Daniel5_27 @alisterberkeley @cjoye There are numerous things that they’d be thinking about. Independence, development of an idea. And sustainability while building the business among other things. Profit is obviously important but not necessarily guaranteed-esp in the early formation of the business.

@2020digging @alisterberkeley @cjoye “The last thing they’d be thinking about is how much profit they might make innthe end if the investment is successful”. I would’ve assume the first and main thing investors are thinking about is “how much money would I make if this thing goes well”.

@JohnAndersonAC You forget your ilk do not matter. Arguably you never did but you certainly don’t now.

In this historical clip, former Prime Minister John Howard delivers a blunt assessment of Labor's economic management — arguing that the government has no coherent plan for productivity and that obsessing over minor interest rate movements misses the real problem.

@DCash64939 The reduced tax incentives in super provides an incentive to save for your retirement. It saves the govt & taxpayers more in the long run than paying out the pension. It has been distorted by very wealthy people using it as a tax dodge - which Labor has curtailed to some extent.

@2020digging All investment returns should be taxed the same regardless of inside super or outside super.

#afternoonbriefing CGT is paid at the sale of an asset? Most businesses would operate for decades, & after making a living, a profit & providing material benefits for society along the way, paying CGT is likely the last thing that would’ve prevented that business starting up.

@AFL @CalTwomey What experience has Vozzo got in canvassing football knowledge? When did he play at the highest level and for how long?

Former Essendon CEO Craig Vozzo has been tasked by the Bombers to canvas rival clubs and football figures about the best structure of a football department as part of his consultancy position with the club, @CalTwomey reports. Details: afl.com.au/news/1523078

@Jburdeu @strangerous10 She was tonight.

@strangerous10 Excuse my ignorance, who is Michelle Ananda-Rajah? She is excellent.

Michelle Ananda-Rajah torches Bridget McKenzie for demonising tax-paying PRs & wanting to strip their social security BM “not going to cop that” MAR “that’s what you’re doing” BM “not going to cop that I’m somehow denigrating their contribution” MAR “Sounds like u are”🔥 #auspol

@strangerous10 McKenzie typifies a part of Australia that has been protected by a small minded privilege no longer relevant to the future of our nation. They would hate this budget because, like Keating’s influence, it levels a playing field distorted for far too long by this ilk.