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@JeffTorbek

Trying to understand it all...but it seems just too hard sometimes...

Katılım Haziran 2019
661 Takip Edilen72 Takipçiler
Quijano
Quijano@JeffTorbek·
@SimonCotter62 Great for those with discretionary spending capacity. They can adjust their spending if necessary. Bloody awful for those without such capacity…
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Simon Cotter
Simon Cotter@SimonCotter62·
The best thing the govt could do is raise the GST to 15%. Tax spending not saving and wealth creation. Simple.
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Quijano
Quijano@JeffTorbek·
@Rajjah @IMAO_ Could well be about how hot she is. I recall a heated argument in the early 2000s about whether not Diane Kruger was hot enough to play “the face that launched a 1,000 ships”. After all, her legendary beauty was central to the story…
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PoshPug
PoshPug@Rajjah·
@IMAO_ I wonder what percentage of people dont want Helan to be black vs those that just dont think Lupita Nyongo is hot enough But then we run into a trickier racial issue of what white guys find attractive. Would Natalie Emmmanuel be as controversial? She and many others are mixed
PoshPug tweet media
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Frank J. Fleming
Interestingly, Xena Warrior Princess had a black Helen of Troy thirty years ago, but race wasn’t a big deal back in the 90s.
Frank J. Fleming tweet media
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Quijano
Quijano@JeffTorbek·
@IFM_Economist @TaxPawspective 48% since 2020. Funny, isn’t it? About the time knee jerk panic from governments globally took interest rates to 0% and pumped cash into economies. Yet it is all the fault of negative gearing, discounted CGT and Boomer greed…
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Alex Joiner 🇦🇺
Alex Joiner 🇦🇺@IFM_Economist·
If dwelling prices fell 10% nationally we'd fall back to a level seen in early 2025, a fall of 20% would be early 2023, Dwelling prices rose 48% since 2020. So what is the big deal? Unless someone can show me that this near 50% gain brought Australia unmatched prosperity that offsets the societal and economic damage that making household formation so difficult for FHBs why does it matter so much. It would actually be the one thing that unambiguously improves housing affordability. It might also discourage negative gearing and make more space for FHB in the market.
Alex Joiner 🇦🇺 tweet media
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Quijano
Quijano@JeffTorbek·
@GBX_Press Can’t understand the number of people believing this bogus translation. Don’t you have any level of critical thinking? 🤔
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GBX
GBX@GBX_Press·
The Prime Minister of Italy: As a woman and a mother, I cannot stand with those who kill innocent children. While some Muslim countries support the killers of Palestinians, if they were to unite and halt all trade with Israel, it wouldn't last a week.
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Stephen Larter.
Stephen Larter.@larter_stephen·
Alan Kholer is recognised as a leading economist his knowledge certainly left Speersy speechless. He single handily just blew up LNP and No Nations immigration policy by telling the actual truth about housing and migration. Think he should be a permanent panellist. #auspole
Richard Yabsley@RichardYabsley

The torpedo moment

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Quijano
Quijano@JeffTorbek·
@Tank9999 That is the stupidest take I’ve seen. They are affected for the rest of their lives…
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Allan Green
Allan Green@Tank9999·
#auspol #insiders 9 out of 10 people under 35 in Australia do NOT own Investment Properties or Shares so will not be affected by the changes to Capital Gains Tax
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Quijano
Quijano@JeffTorbek·
@angelar68197975 What changed between the election last year and this budget in relation to housing? Nothing. They should have had the courage to announce improvements.
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angela rubin
angela rubin@angelar68197975·
Why has changing your mind when facts change for the betterment of the many — A bad thing In the past,taxes favoured the wealthy The discount was first intended for stock markets, then it crashed & went into properties
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Quijano
Quijano@JeffTorbek·
@ausstockchick All for the sake of a 2% drop in house values… The people are being conned. Something had to be done following the surge in values due to poor Covid policies. But severe temporary measures could do that. They have now embedded permanent change that ultimately impacts young.
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that stock chick
that stock chick@ausstockchick·
Boomers selling houses have made millions on the old rules. Stock investors over 40 have made millions on the old rules. But investors under 30 now are going to find it incredibly difficult to make millions on the new rules. Albo just created a generational divide by trying to fix the current one. #auspol
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Quijano
Quijano@JeffTorbek·
@TigerAncient @JohnnyLydon Really? Read the OP and the first paragraph of your response to the OP… Back to my point - in response to the second line if your initial post - super is why GDP % is 2.5% and falling. By the time today’s younger workers have 40+ years of 12.5% super, it falls to under 1%.
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Ancient Tiger
Ancient Tiger@TigerAncient·
@JeffTorbek @JohnnyLydon Firstly, superannuation was never part of this discussion. You have just now mentioned it for the first time. Superannuation in most cases will not avoid the pension either. Most people’s super will go into paying off their mortgage and then they will require the pension.
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Johnny
Johnny@JohnnyLydon·
Retirees currently pay no tax on their super and get all sorts of taxpayer funded benefits. How much more do they expect.
Dr Colin Hughes@drcwhos

@NoelWhittaker What about a family Trust whose only income is $20,000 from rent Distributed to 2 retrirees so currently pay no tax Does this mean tax will be 30% on $20K? @AlanKohler

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Quijano
Quijano@JeffTorbek·
@TigerAncient @JohnnyLydon So you dismiss the GDP aspect that highlights the great benefits of superannuation in reducing the burden of aged pensions to a third of comparable nations? You are fixated on a problem that just doesn’t exist.
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Ancient Tiger
Ancient Tiger@TigerAncient·
@JeffTorbek @JohnnyLydon It’s not just part of it, it’s the largest part of it. You have lumped all welfare together. I have been more specific. You can argue that health spending is bigger but the people that are on the pension are probably the largest users of that system anyway.
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Quijano
Quijano@JeffTorbek·
@TigerAncient @JohnnyLydon Social security and welfare is OZ’s biggest expense. Aged pension is just a part of that. OZ spends 2.5% of GDP on aged pension. And that is falling. Average of OECD countries - that also have similar age profiles - is 7.5%. Aged pension is not a major issue for OZ.
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Ancient Tiger
Ancient Tiger@TigerAncient·
@JeffTorbek @JohnnyLydon It’s the government’s single biggest expense. That’s a fact. Comparing us to countries with different age distributions is not sensible. We have an ageing population. These tax changes will make people invest less and thus become more reliant on the pension.
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Quijano
Quijano@JeffTorbek·
@BladeoftheS This is why the right hasn’t been able to get past 30-35% despite a resurgence in western nation. Despite the growing appeal of the right, at the core of right wing parties there remain a large body of the racist and bigoted.
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BladeoftheSun
BladeoftheSun@BladeoftheS·
The UK's biggest problem is Islamophobia not Antisemitism. No one will even mention this disgusting performance by Tommy Robinson. If it had been antisemitic the Police would have charged the stage.
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Quijano
Quijano@JeffTorbek·
@TigerAncient @JohnnyLydon The pension in Australia is a relatively small expense. Much lower than other OECD nations as a percentage of GDP.
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Ancient Tiger
Ancient Tiger@TigerAncient·
@JohnnyLydon Retirees paid taxes all their life. In fact the tax rates were much higher in the past. You now want them to pay more tax? Why? If they have saved money and now don’t get the pension, they should be congratulated and not punished. The pension is the government’s biggest expense.
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Quijano
Quijano@JeffTorbek·
@TheKouk Wouldn’t be a problem if wages kept pace with inflation. Doesn’t happen. So peg it to AWE instead… Not difficult… 🤔
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Stephen Koukoulas
Stephen Koukoulas@TheKouk·
If the indexation of income tax scales was in place now, given inflation is 4.6% there would be huge income tax cuts coming. This would stimulate household spending & add significantly to inflation. Crazy ah? RBA would be forced to hike interest rates aggressively ICYMI
Stephen Koukoulas@TheKouk

Opposition leader Angus Taylor is promising, if elected, to index income tax scales to the inflation rate. This is not a good idea. For example, if inflation was 2.5%, the level at which a worker moves from a tax rate of 30% to 37% is lifted from $135,001 to $138,376. They are automatic income tax cuts in line with inflation. If inflation is 5%, as it is not, that tax scale would rise from $135,001 to $141,751. A huge rise and a huge tax cut at a time when inflation is ripping along. The problem with such a scheme is clearly that it is pro-cyclical. In an era of high inflation and an overheating economy, the rise in the tax scales will be big which gives large income tax cuts to the workforce. This would see the policy working against the RBA's anti-inflationary stance in this example. Interest rates would be even higher as a result. The proposal would make it much harder for the RBA to meets its inflation target and / or will require much greater volatility in interest rates as the RBA fights to offset the pro-cyclical nature of the the indexation of tax scales. And it costs a fortune - a chunky $23 billion in 4 years. youtube.com/watch?v=PaSZG2…

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Quijano
Quijano@JeffTorbek·
@P_Bots @pav_akhtar @TheScotsman Not sure being concerned about non citizens on temporary visas representing citizens in parliament is necessarily “anti-immigration”. Doubt there are many countries in the world that allow such a thing. That is the concern for many.
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The Scotsman
The Scotsman@TheScotsman·
Trans MSP Q Manivannan escorted through Holyrood by security over safety concerns trib.al/EvMP8ax
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Quijano
Quijano@JeffTorbek·
@pav_akhtar @TheScotsman Seems to me much of the criticism is about his status as a foreigner on a temporary visa. Not his LGBTQI+ status. But that would negate the argument that the critics are just bigots… 🤔
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Pav Akhtar (personal account/views)
@TheScotsman This is sad to see. There is still some way to go to root out anti-LGBT bigotry in the UK. All power to Dr. Manivannan who has come across as a pillar of strength and integrity this week.
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Ash
Ash@AshPolitik·
@JeffTorbek @Lisa9Sophia @OneNationAus Parties been around since the 90s. They are replacing the LNP votes, complete swap. Ive said, ON is the new opposition. You will win swag of L/NP seats for sure.
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Quijano
Quijano@JeffTorbek·
@Q2Quokka Still a big result for a lunatic fringe party that got only 6.4% of primary vote in 2025… Be dangerous to just shrug it off… 🤔
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