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Nobody posted this yet? 200 shipbuilding jobs to go in SA, election was won, no need for them anymore https://twitter.com/theamwu/status/988272050132238337
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Apr 23, 2018 14:01
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drunkill posted:Nobody posted this yet? Hahahahaahahah of course.
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Apr 23, 2018 14:28
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drunkill posted:Nobody posted this yet? Turns out it's Labors fault, Pyne says they should have ordered more warships. He's right though, the South Australian Navy and the Federal ALP Navy in opposition have a woefully small number of vessels.
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Apr 23, 2018 14:28
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ewe2 posted:Caroline Wilson has a spray about the ongoing ramifications of the Goodes Affair. Goodes' Australian of the Year plaque is still the only one covered in shatterproof perspex.  This is what all the other plaques look like: 
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Apr 23, 2018 14:51
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What a flog, bet he took a dive to get the umpire to put on that perspex. EDIT: urgh even making this joke sarcastically I feel dirty. hooman fucked around with this message at 15:09 on Apr 23, 2018 |
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Apr 23, 2018 15:02
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hooman posted:What a flog, bet he took a dive to get the umpire to put on that perspex. I had a fascinating conversation with some weirdo Hawthorn supporter who spent most of halftime trying to convince me that he booed Goodes because he heard a rumour that the man walked into a club once and made a bad joke about how good he was with the ladies, and that just didn't sit right with my hawks supporting friend. It was one of those long rambly one sided conversations that forever danced around without making any sort of real point, apart from demonstrating just how hard racists will work to convince themselves they aren't racist. gently caress he was weird as poo poo though he made me look like a 35 year old George Clooney freshly made up for a night on the town.
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Apr 23, 2018 15:58
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https://www.theguardian.com/australia-news/2018/apr/18/richard-flanagan-national-press-club-speech-full-politics-black-comedy Richard Flanagan’s Press Club address has not been reposted enough, holy poo poo. Should be mandatory reading for all ‘Australians’ quote:And yet the horrific suffering of so many Australians for distant empires has now become not a terrible warning, not a salient story of the blood-sacrifice that must be paid by nations lacking independence, not the unhappy beginning of an unbroken habit, but, bizarrely, the purported origin story of us as an independent people.
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Apr 23, 2018 19:39
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Hail Turnbull A large proportion of any cut in personal income tax — especially if the cuts were skewed towards lower and middle-income households with a higher propensity to spend — would likely provide a greater direct stimulus to the Australian economy than an equivalent cut in company tax. Cutting personal income taxes seems likely to provide much more of a boost to the Australian economy than cutting company income tax. As the government's own published modelling shows, the benefits of its proposed cuts to the company income tax rate are small relative to their cost. Do workers need income tax cuts? "The Treasurer and I have been working on how we can provide more tax relief for hard-working middle income Australian families." Prime Minister Malcolm Turnbull Over the past five years, household spending has grown by just 2.6 per cent per annum in real terms, on average — of which more than half has been the result of population growth — compared with an average of 3.6 per cent per annum over the preceding 12 years. Even with that lower growth rate in their spending, households have reduced their saving rate, from about 7 per cent of disposable income five years ago to about 2.5 per cent in 2017. That's the lowest saving rate since before the financial crisis. The key reason for this "squeeze" on household spending and saving is of course the ongoing weakness in the growth rate of household disposable income. Over the past five years, real per capita household disposable income has grown at an average annual rate of just 0.4 per cent, compared with an average of 2.6 per cent per annum over the preceding 12 years. Households paying most tax in 13 years One reason for this is that Australian households have been paying an increasing proportion of their income in taxes. In the years prior to the onset of the financial crisis, almost every budget included personal income tax cuts in some form or other. By contrast, there have been no changes to Australia's personal income tax scale since 2008 — apart from the increase in the tax-free threshold (paid for by an increase in the bottom rate) in 2012, the temporary surcharge on top-rate taxpayers which applied between 2014-15 and 2016-17, and the increase in the threshold for the second-top rate (from A$80,000 to A$87,000) which took effect in the 2016-17 financial year. As a result, in 2017, Australian households in aggregate paid 19.5 per cent of their taxable incomes in income and other direct taxes — the highest proportion since 2005, and continuing a steady rise since 2011. Households are also spending almost two and a quarter percentage points more of their after-tax disposable incomes on education, health, insurance and other financial services, and utilities than they did five years ago. Given all this, it's little wonder that household spending in more "discretionary" areas has been so weak in recent years. Income tax as a percentage of taxable household income Well-targeted personal income tax cuts could thus help to ameliorate this multi-faceted "squeeze" on household incomes, and provide a direct boost to the economy. Tax cuts to offset stagnant wages? "It's been a long time since any Australians had a decent pay rise … this is a real pressure on Australians … we can give them some relief when it comes to their personal income tax." Treasurer Scott Morrison The other major reason for the very slow growth in real household disposable income over the past few years has been the unprecedented slowdown in wages growth. Wages have risen at an average annual rate of just 2.2 per cent over the past five years (only 0.3 of a percentage point above the inflation rate), down from 3.7 per cent per annum over the preceding 12 years. Although, as RBA Governor Phillip Lowe noted in a speech that "the latest data suggest that the rate of wages growth has now troughed", he went on to warn that the pickup which the RBA expects "is likely to be only gradual". Recent experience in other advanced economies clearly suggests that the unemployment rate needs to be lower for longer than in previous business cycles before wages growth starts to pick up. So even assuming that Governor Lowe is right, it may be one or two years before Australian households can expect any meaningful improvement in their financial position from faster growth in their wages or salaries. Well-targeted personal income tax cuts could help provide at least some offset to this likely continuing stagnation in wages growth over the next year or so. What's the verdict? Targeted personal income tax cuts could reduce the squeeze on households and make up for persistent low wages. Of course, it remains crucial that any cuts in personal income tax be sustainable — that is, that they are not funded by bigger deficits, and do not materially detract from the task of putting the nation's public finances on a sounder footing. This is so we are better placed to withstand any unforeseen economic shocks. And it's important to remember that government spending has moved to what appears to be a permanently higher level as a proportion of GDP since the financial crisis. The government's underlying cash payments averaged 25 per cent of GDP from 2011-12 through 2017-18, up from 24 per cent from 2001-02 through 2007-08. That also represents a constraint on the scope for tax cuts. However, the apparently greater improvement in the budget so far this financial year, compared with what was forecast as recently as last December's Mid-Year Economic and Fiscal Outlook, could give the government a little more latitude for financially sustainable personal income tax cuts in the upcoming budget. Perhaps the most sustainable way of providing the "relief" which the Treasurer says many Australian households need, would be to abandon the tax cut for companies turning over more than A$50 million a year. The government hasn't been able to get these through the Senate. These cuts would do far less to boost the Australian economy than well-targeted personal income tax cuts of a similar order of magnitude.
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Apr 23, 2018 21:39
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Webcormac McCarthy posted:https://www.theguardian.com/australia-news/2018/apr/18/richard-flanagan-national-press-club-speech-full-politics-black-comedy That's a pro loving read right there.
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Apr 23, 2018 22:09
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A GOLD Coast high-school dropout is set to earn up $580 a week after buying an investment property at age 18. Varsity Lakes boxer, removalist and barista Cory Still signed the contract for his first investment property last month. In a bout of friendly sibling rivalry, Mr Still pipped his older sister, Amy, who bought her first investment property at 20. Mr Still said he scraped together $85,000 for a deposit on a $500,000 two-storey townhouse at Varsity Lakes. He said he saved through hard work, budgeting and having the support of his parents. Mr Still started working full-time after dropping out of high-school mid Year 11. He began working for his parents’ business as a furniture removalist at Don’s Removal and Storage and as a barista at Coffee at Don’s. He also took part in muay thai fights and professional boxing bouts which earned him extra money. And by living at home with his parents, it enabled Mr Still to put away about 70 per cent of his weekly earnings. He said this was “100 per cent” one of the best ways to save money. “I work 45 to 50 hours a week,” he said. “I figured to let someone pay off my mortgage (by investing) while I was saving up for my second property was a good idea. “I’m looking at the bigger picture.” Mr Still said he also stayed away from buying unnecessary things — and yes — that meant limiting drinks with friends or avoiding buying smashed avocado on bread. He said while his parents had been instrumental in giving him ample opportunities to work hard for his money, they never gave him unearned cash. According to the latest CoreLogic data from January this year, the median house price for a Gold Coast house is $640,000. Brisbane’s is $530,000. REIQ Gold Coast Zone Chair Andrew Henderson said rental increases and fewer properities available for lease meant less sales competition. “Rent has gone up by five per cent in the past 12 months ... there’s less (rentals) available which means it’s better for investors,” he said. “And with the low interest rates, it’s more affordable for 18-year-olds to buy into investment properties.” Mr Still said he expected to rent his new property for about $580 a week to the right people. “My plan is now save for my second investment property using my equity built ... along with my savings and from there work on building my portfolio. “The advice I would give (to other young people) is to work hard for what you want, even if it involves sacrifices. In the long run it will pay off.”
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Apr 24, 2018 00:00
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75% of my barista and removalist income is $85,000 
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Apr 24, 2018 00:04
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"earn" 580/week but no mention of the $500+/week in mortgage payments &strata etc?
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Apr 24, 2018 00:11
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That's a good saving tip though. I wish I could still live with my parents but they keep calling me a liberal because I don't like Assad and I think Russia does propaganda.
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Apr 24, 2018 00:53
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quote:Pot legalisation would pack Budget cone by $1 billion a year https://www.macrobusiness.com.au/2018/04/pot-legalisation-pack-budget-cone-1-billion-year/
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Apr 24, 2018 01:11
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All one needs to do is look to Colorado for inspiration, And that's in an environment where growers and sellers are unable to do anything with their money but whack it in gigantic safes, because the DEA will prosecute any bank that deals with them and take anything they deposit under civil asset forfeiture laws.
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Apr 24, 2018 01:57
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Don Dongington posted:All one needs to do is look to Colorado for inspiration, Jesus, I wonder how California is going to deal with this, as this will be like 10000 times worse there
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Apr 24, 2018 02:19
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JBP posted:75% of my barista and removalist income is $85,000 Assuming he's worked for 2 years to save this 85k, he's saved 42.5k a year. Given he says he saves 70% of what he earns, this means he's earning 60.7k after tax yearly. So that's about an 80k pretax income. Given he says he works 45-50 hours a week, assuming he's paid hourly that gives him an hourly income of 32.3 dollars per hour. He's making 32 dollars an hour as a furniture removalist/barista, getting enough hours from those jobs to work 45-50 hours a week and reckons he isn't getting a handout from his parents. 
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Apr 24, 2018 02:22
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I think as a nation we can aspire to having all our kids drop out of the HSC to work for 50 hours a week at 17
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Apr 24, 2018 02:32
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My first car was a stick
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Year 12 should be for our best and brightest
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Apr 24, 2018 02:33
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hooman posted:Assuming he's worked for 2 years to save this 85k, he's saved 42.5k a year. Given he says he saves 70% of what he earns, this means he's earning 60.7k after tax yearly. If he didn't work for mum and dad in those industries (remember he works for two family businesses) he would make $23.50 an hour if he was very, very lucky and was employed by a larger company or someone with scruples (lmao).
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Apr 24, 2018 02:34
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I earned those jobs from my family fair and square
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Apr 24, 2018 02:41
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You Am I posted:Jesus, I wonder how California is going to deal with this, as this will be like 10000 times worse there California has been dealing with this for like 10 years already. The only difference is you don't need a weed card anymore.
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Apr 24, 2018 02:44
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Anidav posted:Hail Turnbull loving ABC, I love how they can write all this out and still come to the goddamn conclusion that we should cut taxes instead of raising loving wages. Like holy poo poo, they even identify wages as being the problem, the budget being tight and everything. gently caress me, nope can't possible raise wages better starve the beast.
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Apr 24, 2018 03:22
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Gentleman Baller posted:That's a good saving tip though. I wish I could still live with my parents but they keep calling me a liberal because I don't like Assad and I think Russia does propaganda. Lmfao
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Apr 24, 2018 03:26
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Anidav posted:A GOLD Coast high-school dropout is set to earn up $580 a week after buying an investment property at age 18. A true inspiration to all those lazy leaners who can't seem to scrape together two 5 cent pieces to afford a drat investment property. What are they doing with their lives? Other than eating copious amounts of avocado speared on bread.
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Apr 24, 2018 03:43
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I'm guessing an undisclosed portion of the help from his parents was a 60,000$ loan
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Apr 24, 2018 03:49
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Change from withinquote:Liberal MP Michael Sukkar pledges to crush party’s Left ‘termites’ http://www.heraldsun.com.au/news/vi...2e924d29c331ea3
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Apr 24, 2018 04:03
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Konomex posted:A true inspiration to all those lazy leaners who can't seem to scrape together two 5 cent pieces to afford a drat investment property. What are they doing with their lives? Other than eating copious amounts of avocado speared on bread. The article actually has avocado on toast as the body image. 
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Apr 24, 2018 04:07
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Don't give it any more breath than it deserves. It's a final fluffing of the pillows to aid the investors to liquidate their portfolios. Likely the corpse advertisers, investors, board members.
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Apr 24, 2018 04:15
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It's p easy to get your parents to employ you full time and also do some sik boxing matches on the side for a much higher than normal wage and not have to pay them board or rent and save nearly your entire earnings, actually. Alternatively, try not eating and cut your stomach out like hero of our people captain joe hockey of the UNN rickenbacker
AbortRetryFail fucked around with this message at 04:17 on Apr 24, 2018 |
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Apr 24, 2018 04:15
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AbortRetryFail posted:It's p easy to get your parents to employ you full time and also do some sik boxing matches on the side for a much higher than normal wage and not have to pay them board or rent and save nearly your entire earnings, actually. Alternatively, try not eating and cut your stomach out like hero of our people captain joe hockey of the UNN rickenbacker Yeah. His parents not charging him anything at all to live at home and presumably pay for absolutely nothing (outside the WRX I assume he owns) while earning $80k is also a huge loving eyeroll.
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Apr 24, 2018 04:21
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Webcormac McCarthy posted:https://www.theguardian.com/australia-news/2018/apr/18/richard-flanagan-national-press-club-speech-full-politics-black-comedy Australia doesn't have any charismatic politicians. Checkmate Flanagan.
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Apr 24, 2018 04:37
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Buying a house (and an investment property at that) seems like a really dumb thing to do at that age. This guy will find he can't buy a house with his partner, move cities without a real estate agent... It just seems like a dumb idea all around. Of course, I'm sure his parents will bail him out. (Also my friend bought a house at 22 and now horribly regrets it. Turns out a 22 year old might be cool with housemates but a 28 year old is getting more and more jaded having to chase people up for money on rent, utilities and misc shared house expenses).
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Apr 24, 2018 04:40
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I would blow Dane Cook posted:Change from within Explains the right wing bullshit that the Vic state Libs have really got into the past 12 months or so.
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Apr 24, 2018 04:46
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I get massive Schadenfreude from the idea of these people as young as/younger than me, buying into a massively overpriced housing market, only to lose all of their equity when the bubble bursts. Soon.
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Apr 24, 2018 04:52
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bell jar posted:I get massive Schadenfreude from the idea of these people as young as/younger than me, buying into a massively overpriced housing market, only to lose all of their equity when the bubble bursts. Soon. I too enjoy generational wealth transfer.
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Apr 24, 2018 04:58
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hooman posted:I too enjoy generational wealth transfer. too my generation
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Apr 24, 2018 06:32
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MysticalMachineGun posted:too my generation Nah gently caress those guys, have you met them? Generational wealth transfer to me please.
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Apr 24, 2018 06:35
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Extraordinary evidence here. This relates to the case of Donna McKenna, a fair work commissioner, who we’ve been discussing. Celebrity financial adviser Sam Henderson hadpushed McKenna repeatedly to put her super into a self-managed super fund and have it managed by his firm, which would, of course, entail significant fees. It would also have cost McKenna $500,000 for withdrawing her superfrom her public sector fund before the age of 58. It has just emerged that an employee of Henderson Maxwell pretended to be McKenna, called her existing superannuation funds, and asked for details about the account. The royal commission hears recordings of the calls. In the recordings, it is made plain to the Henderson Maxwell employee that McKenna would lose $500,000 if she moved to a self-managed fund. Yet, remarkably, Henderson’s firm still formally advises McKenna to take that course. Orr asks: Did you know that your employee was impersonating Ms McKenna, Mr Henderson? Henderson replied: No I didn’t. Orr again: Did you hear her say at the beginning that she’d been given some questions to ask? Henderson: We have standard questions for the client service managers to ask for all research undertaken. Orr says: Is it standard for your employees to impersonate their clients and seek information about their clients? Henderson: No, absolutely not.
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Apr 24, 2018 06:57
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Hopefully this backlash against the banks puts all the loving tax cuts on ice for now.
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Apr 24, 2018 07:07
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