Matt McCarthy

Ha.. that's how Albo does it, bloat the public service for votes? The chart goes crazy the minute Labor came to power in 2022, costing us all a fortune. #auspol

I moved away from Australia, officially migrating to Switzerland, and it happened to land just before the CGT changes passed. Very happy with my decision. I'd only been residing in Australia a few months of the year for some time now. My business is international and does nothing in Australia - its customers are European and Asian. None of our staff are Australian anymore (aside from myself). The move was mostly about life. I ski, I hike, I ride downhill - Switzerland wins on all of that over the other low-tax options. It puts me around people I'm more aligned with: pro-capital, optimistic, building things. And it has me far closer to where the work actually is - half my client visits are in Germany. Tax was a factor too, I won't pretend it wasn't. But it was the last reason on the list, not the first. I love Australia. I was prepared to pay high taxes there to do my part. But its general and increasingly recent disdain for capital, for economic freedom, and the cultural shift against "the rich" had become too great for me to tolerate. I can pay high taxes. But I can't pay high taxes to people who hate me for the success I've happened to find. I worked very hard, took a lot of risk, and dealt with the shame of making what were seen as ill-advised life decisions in the eyes of my family and many of my friends for years. And on the other end, I found myself with a little luck that carried me through to a place I couldn't previously have imagined. I don't take full credit for my place in life. I was born in the right place to the right people - not rich, middle class, an accountant father and a stay-at-home mother, good parents who raised me right in a stable household - and even at the right time. But I took the opportunities luck gave me and ran the best race I could from there. I want everyone to reach financial independence. I want the world to grow wealthier. I can contribute to that vision. I will not, however, do it for people who despise the journey it takes to get there. Because that's what the resentment really is. It isn't principle - it's pessimism and envy. And more often than not it's fomented by people who were ambitious themselves, who set out to build something and fell short of their own expectations, and turned that disappointment outward - onto the people who made it, and onto the system itself.

@Haydenfreedom They can’t seriously be entertaining the return of Hird can they?

While I lament Carlton’s woes, Essendon is so much worse. Barnham was finally starting to clean up the place & got rid of Sheedy and Dodoro. Rolled by Welsh an old bomber, installs interim coach Solomon (an old bomber) and now the push for Hird begins. You couldn’t write this

@LavendarGardenz @RonnyLerner Absolutely not

@RonnyLerner Essendon and Carlton should now merge. Then hire Longmire as coach. 32 flag combo. Sell off the injury jinxed Tullamarine Hanger. Times have changed. We need to unite. Game changer.

If Essendon even considers James Hird to be their coach again after all this time, it would underscore what a backward dysfunctional organisation it is and its sheer inability to let go of the past. Hird hasn’t coached for 11 years and he didn’t even demonstrate that he had what it took to become a super coach in his time in the job! The Bombers need to stop the obsession with past greats or they will continue to go nowhere. The club has to embrace the future and bring in the best guy for the job who has recently been involved at club land for a lengthy period of time

@LNPvoterfail @punchbuggyred @ironbark_axiom Having said that I’d be ok with going back to Keatings CGT policy which was indexed but included averaging and then taxed at marginal rate as a more reasonable approach

@LNPvoterfail @punchbuggyred @ironbark_axiom While I think NG and CGT discount may amplify some of the more fundamental reasons behind prices they are not the root cause. For example 1)Other countries with different policies have had similar outcomes to us 2) NG has been around since 1930’s 3) pre 1985 there was no CGT

I don't give a fuck about broken promises anymore. Govts are elected to govern. If they backflip on something and we don't like it, vote against them next time. Stop this bullshit that a so-called 'promise' is more important than GOVERNING for the right reasons. #auspol

@Old_SchoolEddie And those who work in the public sector

The distribution of wealth is surprisingly popular among people who do not work

@alexjohnward @ajamesbragg No I’m not that naive however they should be held to account to be able to at least articulate their policies.

@MattMcC1074 @ajamesbragg Did you think the Environment Minister was there to protect the environment?

No wonder we can’t get houses built

@LNPvoterfail @punchbuggyred @ironbark_axiom So explain what significantly changed that would justify changes to NG and CGT policy? Housing affordability was already an issue.

@punchbuggyred @ironbark_axiom

@alexjohnward @ajamesbragg Seriously?

@MattMcC1074 @ajamesbragg No clue. Job is probably to not say anything that can get him in trouble.

@alexjohnward @ajamesbragg If that’s all it was then why didn’t he just say it?

@MattMcC1074 @ajamesbragg It's not illogical, sometimes the planted trees die. All he needed to say is plant 50 new trees that survive (I hope)

@FaktCheka @Donv34 @dodona777 Think it through a bit more. If NG is such a contributor to house prices then new builds may not be overly attractive for an investor because the next buyer can’t NG. As such the capital growth which is main reason to NG may not be sufficient to justify the investment.

@Donv34 @dodona777 Build a new dwelling. Add to housing supply. Negative gearing remains. False catastrophes is nonsense!

So, what's wrong with getting rid of negative gearing so that people can buy a HOME discouraging those who want to buy houses for profit? A home is essential. An investment in a house is not essential. It can be seen as greed.

@Freddy717263 @dodona777 Some rent for other reasons. It’s not just about being able to afford to buy. Just getting in before the usual lazy “but now they can buy” response.

@dodona777 Where would you suggest that renters live, the 95% of them who cannot afford to buy? You realise if there was no demand from renters, investors would not have ever bought one house. And you seem to imply that renters are less deserving somehow. Renters will bring Labor unstuck.

The problem with this global reliance on “Treasury modelling” in the recent budget, is that neither Treasury nor the government will release the modelling and let us examine the assumptions it’s based on. smh.com.au/politics/feder…

@Sheepdogcapital @parnellpalme At minimum they should release the details. Should be mandatory

@parnellpalme 100% we need a model audit. Every m&a transaction is vetted by a third party. Let the people see the treasury model!

The Chalmer Delusion: Outcome Bias & The Static Pie Fallacy afr.com//politics/fede… I encourage you all to look at the excellent interview of Jim Chalmers by Philip Coorey of the AFR. What struck me is that he appears genuinely sincere that he has a good policy and that it will work in delivering intergenerational equity and productivity. It reminded me of Oscar Wilde's letter when he was in jail... "Most people are other people. Their thoughts are someone else's opinions, their lives a mimicry, their passions a quotation". Jim Chalmers is not you, and he is certainly not me, so how can his mind arrive at such bizarre conclusions. I think the answer lies in the field of psychology: outcome bias combined with the static pie fallacy. Jim Chalmers sees the successful founder, investor or business owner - but not the thousands who failed, lost capital, went bankrupt or spent years building nothing. Capitalism’s winners are visible; its graveyards are invisible. Then comes the static pie fallacy: treating wealth as something merely to be redistributed rather than created through risk, incentives and relentless trial-and-error. He doesn't see that for the pie to grow, incentives must be rewarded, and that outcomes are destined to be fundamentally inequitable If the model works properly. However if the pie grows large enough we have enough wealth to bring up those at the bottom. But we will never be all the same, and rewarded the same, if we were that would be socialism. But he cannot see that, as trapped in his own psychology, Jim Chalmers feels taxing success is morally righteous rather than economically destructive. The problem is that innovation only exists because extreme rewards compensate for extreme failure. The argument is not one of intelligence, but of philosophy, and there is no common ground or resolution. This is a very old dilemma, and Thomas Kuhn would say Jim Chalmers and the business community have "incommensurable frameworks", and trapped in his own paradigm he is unable to view the world differently. What we see as an apparently rational disagreement is actually a failure of shared meaning rather than a failure of intelligence. The conclusion is sobering that the only way to resolve the problem is to remove Labour through the election box because the framework in which they make decisions is so foreign to economic reality that they will inevitably fail to interpret the world around them in a way that will grow the pie. They are prisoners of their own ideology. afr.com//politics/fede…

@ryu_tay Had two x 165m2 townhouses under construction painted internally last year. Quotes ranged from 20-30k. Yours may need more prep work.

Just got a quote from a painter to paint the internal of a house, $30k... seriously!? No wonder no one wants to reno these days 😶

@raagulanpathy One of the better proposals I’ve seen on face value

“I built Australia’s new Tax System + AI tested it” The last budget was a disaster because even though it set out to fix some inbalances, it still doesn’t fix the things a great economy needs. In my Australia… > The bottom 50% of earners pay zero income tax > The rest get lower tax to encourage work > Flat tax for capital gains, corporate and trusts > Incentives to invest in new houses & startups > First Home Owner deposit tax relief > GST does move up to 13%, but that’s not crazy I spent time to back test it over and over using AI, until we found the brackets which best balanced the budget, but created a flatter and fair system. See attached, but quick synopsis. Income Tax: • $0–60k: 0% • $60k–200k: 30% • $200k–500k: 35% • $500k+: 39% All brackets indexed to inflation. Capital Gains, Company Tax and Trusts: • Standardised at 30% GST: • Increase from 10% to 11% • Then +1% every 3 years • Capped at 13%