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Lunatic Labor to sink itself (Read 2710 times)
juliar
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Lunatic Labor to sink itself
Nov 7th, 2018 at 8:59am
 
GetUp! is losing the plot after the disastrous result for Labor at Wentworth.

The stupidity is that the pot of gold expected by Bowen, simply will not be there. SMSF's can easily switch for eg from CBA to CSL and it goes in a puff of smoke!

Labor's insane Socialist policy would be a disaster for SFRs and reeks of class warfare. It raises all the old arguments such as federal money going to private schools - a debate that most of us thought had been won and lost in the 1960s.




Bad news for Labor's franking credit policy
John Abernethy 26th October, 2018

This week I celebrate my 60th birthday. Therefore, I feel entitled to take liberties and reflect on some history, as well as my thoughts on the Wentworth bi-election. I hope that you can accept my indulgence.

I was born in Randwick, raised in Rose Bay and educated at Rose Bay Public and Vaucluse Boys High Schools. From there, I returned to Randwick to study Commerce and Law at the University of NSW. Thus, I do have form in the Wentworth electorate. The above reads like a privileged upbringing – but it wasn’t.

My parents served in the Second World War, married and rented in Rose Bay from the late 1940s. They paid ‘key money’ to secure a two-bedroom apartment. Back then, key money was charged by landlords to renters to secure a property. There was an extreme shortage of accommodation after the war and this was used (and sometimes abused) by property owners to extract maximum value from renters. My parents borrowed and scraped together 1,000 pounds to secure a key. A massive amount of money in those days.

In the mid 1960’s, my parents bought a 2-bedroom unit in O’Sullivan Road, which was where my two brothers, one sister and I were brought up. Yes, our family of six were housed in this unit with one bathroom!

Read the rest of the annihilation of Labor here.

https://www.livewiremarkets.com/wires/wentworth-bi-election-result-bad-news-for-...
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juliar
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Re: Lunatic Labor to sink itself
Reply #1 - Nov 7th, 2018 at 9:06am
 
More embarrassing incompetence from a Labor pretend polly.

The GetUp! stupidity is on show as Labor electorates will be mostly hit when the Labor goons wreck the housing market with their Socialist stupidity.





Labor MP’s trainwreck interview
ROSIE LEWIS 14 DAYS AGO | 5.25PM

Labor frontbencher Joel Fitzgibbon has declared Labor’s curbs on negative gearing will neither drive housing prices down nor increase them and was unable to explain how the policy would make the market more affordable.

In a trainwreck interview on Sky News, the opposition agriculture spokesman also said he expected Labor would implement the policy “at the first opportunity” if it won government at the next election despite opposition treasury spokesman Chris Bowen insisting Australians would be given time to get their investment strategy in order.

Labor’s plan to limit negative gearing to new houses has come under scrutiny after a report commissioned by Master Builders Australia found there would be up to 42,000 fewer dwellings over five years under the policy and 32,000 fewer jobs.

“I’m not sure what Chris Bowen has said about the timing but it’s the policy of the opposition to implement it I expect at the first opportunity,” Mr Fitzgibbon said.

Asked if the restriction on negative gearing would not drive prices down, Mr Fitzgibbon responded: “The majority of economists say no, not at all.”

Mr Fitzgibbon later said: “I see no evidence from any of the economists, including the Grattan Institute survey of economists, that suggests prices are going to rise as a result.”

...
Labor’s agriculture spokesman Joel Fitzgibbon struggled to explain the effects of his party’s negative gearing policy. Picture: AAP

The senior Labor MP could not say how the policy would make housing more affordable and help young people or first home buyers get into the market.

“By maintaining negative gearing for new housing stock and expanding new housing stock,” Mr Fitzgibbon said.

“If you have in place policies that continue to allow the housing stock to grow, and you can knock down an old house and build a new home, you’d like to think you’re going to extend the housing and by maintaining negative gearing in new housing you’re going to increase the stock of housing.”

Labor says its negative gearing reform is aimed at shifting the incentive to the construction of new housing, arguing the tax subsidies are largely used by high income earners to reduce the income tax they pay and benefits investors over first home buyers.

It would also change the composition of demand, according to Labor sources, bringing in more first home buyers and less investors.

Former Nationals leader Barnaby Joyce, who was Mr Fitzgibbon’s portfolio counterpart when he sat on the frontbench, told the Labor MP: “You make no sense whatsoever.

“The best thing I could’ve done is let you talk then, I think it worked perfectly.”

https://www.theaustralian.com.au/national-affairs/politicsnow-senate-estimates-t...
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Prime Minister for Canyons
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Re: Lunatic Labor to sink itself
Reply #2 - Nov 7th, 2018 at 9:07am
 
Only juliar could classify Wentworth as a massive failure for Labor.
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In a time of universal deceit — telling the truth is a revolutionary act.

No evidence whatsoever it can be attributed to George Orwell or Eric Arthur Blair (in fact the same guy)
 
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cods
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Re: Lunatic Labor to sink itself
Reply #3 - Nov 7th, 2018 at 9:16am
 
Prime Minister for Canyons wrote on Nov 7th, 2018 at 9:07am:
Only juliar could classify Wentworth as a massive failure for Labor.



Grin Grin Grin Grin Grin Grin Grin... very true....

however I do believe their negative gearing policy will impact them....I am surprised the cfmeu is going along with that plan..
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Re: Lunatic Labor to sink itself
Reply #4 - Nov 7th, 2018 at 9:20am
 
cods wrote on Nov 7th, 2018 at 9:16am:
Prime Minister for Canyons wrote on Nov 7th, 2018 at 9:07am:
Only juliar could classify Wentworth as a massive failure for Labor.



Grin Grin Grin Grin Grin Grin Grin... very true....

however I do believe their negative gearing policy will impact them....I am surprised the cfmeu is going along with that plan..



Its a double edged sword, it will piss off the oldies, but probably rein in the young uns.
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In a time of universal deceit — telling the truth is a revolutionary act.

No evidence whatsoever it can be attributed to George Orwell or Eric Arthur Blair (in fact the same guy)
 
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juliar
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Re: Lunatic Labor to sink itself
Reply #5 - Nov 7th, 2018 at 10:32am
 
BH is indulging a bit of Lefty fantasy - Labor was slashed to the bone as they lost out to the lame duck Phelpsy who is a pseudo Greeny.

And Labor knows the Wentworth disaster will be repeated for similar electorates.
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Captain Nemo
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Re: Lunatic Labor to sink itself
Reply #6 - Nov 7th, 2018 at 10:34am
 
Labor "ran dead" in Wentworth. A deliberate tactic to have the seat taken away from the Libs.

Worked a treat.

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The 2025 election could be a shocker.
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Re: Lunatic Labor to sink itself
Reply #7 - Nov 7th, 2018 at 10:38am
 
juliar wrote on Nov 7th, 2018 at 10:32am:
BH is indulging a bit of Lefty fantasy - Labor was slashed to the bone as they lost out to the lame duck Phelpsy who is a pseudo Greeny.

And Labor knows the Wentworth disaster will be repeated for similar electorates.




It was a Liberal held seat since the Libs first formed. I fail to see how this is a Labor loss. You can't lose something yo unever had.
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In a time of universal deceit — telling the truth is a revolutionary act.

No evidence whatsoever it can be attributed to George Orwell or Eric Arthur Blair (in fact the same guy)
 
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Its time
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Re: Lunatic Labor to sink itself
Reply #8 - Nov 7th, 2018 at 11:12am
 
...
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Pedro Curevo
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Re: Lunatic Labor to sink itself
Reply #9 - Nov 7th, 2018 at 11:15am
 
With Australia's growing debt problem some where along the line taxes have to be made....with franking credits it is paid when a corporation hasn't paid any tax and the government still wants to reduce company tax...which only makes the tax burden on the low and middle income people, who are already finding it hard to keep their heads above water.

Its time Australians whether its big corporations, self funded retirees or property investors and their tax minimisation with negative gearing  pay their due taxes and restore equality in the system.

Franking Credit on dividends is a simply government bonus the government cannot no longer afford.
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Captain Nemo
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Re: Lunatic Labor to sink itself
Reply #10 - Nov 7th, 2018 at 11:31am
 
Franking credits pay tax up front at 30% ... very similar to "provisional tax".

If the person winds up not going over the tax free threshold, then the tax already paid ought to be returned to the person.

Shorten is going to rip off thousands of retirees with his tax grab. On average: $5,000 per year from people who are by definition on low incomes.

What a bastard.

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« Last Edit: Nov 7th, 2018 at 12:40pm by Captain Nemo »  

The 2025 election could be a shocker.
WWW  
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cods
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Re: Lunatic Labor to sink itself
Reply #11 - Nov 7th, 2018 at 12:09pm
 
Prime Minister for Canyons wrote on Nov 7th, 2018 at 9:20am:
cods wrote on Nov 7th, 2018 at 9:16am:
Prime Minister for Canyons wrote on Nov 7th, 2018 at 9:07am:
Only juliar could classify Wentworth as a massive failure for Labor.



Grin Grin Grin Grin Grin Grin Grin... very true....

however I do believe their negative gearing policy will impact them....I am surprised the cfmeu is going along with that plan..



Its a double edged sword, it will piss off the oldies, but probably rein in the young uns.





well the young wont be investing for the future will they?.. so the rent market will disappear then what?>.... I think the demise  of Neg Gear will be the end of that smug little toad Bill... Smiley Smiley Smiley Smiley
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cods
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Re: Lunatic Labor to sink itself
Reply #12 - Nov 7th, 2018 at 12:11pm
 
juliar wrote on Nov 7th, 2018 at 10:32am:
BH is indulging a bit of Lefty fantasy - Labor was slashed to the bone as they lost out to the lame duck Phelpsy who is a pseudo Greeny.

And Labor knows the Wentworth disaster will be repeated for similar electorates.



seriously you need   glasses boy... they got over 8000 votes which means they gave them to Phelps.....

gawd you are pretty dim if you think thats a loss to labor..

its what they intended    Cheesy Cheesy Cheesy Cheesy
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macman
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Re: Lunatic Labor to sink itself
Reply #13 - Nov 7th, 2018 at 3:45pm
 
cods wrote on Nov 7th, 2018 at 12:11pm:
juliar wrote on Nov 7th, 2018 at 10:32am:
BH is indulging a bit of Lefty fantasy - Labor was slashed to the bone as they lost out to the lame duck Phelpsy who is a pseudo Greeny.

And Labor knows the Wentworth disaster will be repeated for similar electorates.



seriously you need   glasses boy... they got over 8000 votes which means they gave them to Phelps.....

gawd you are pretty dim if you think thats a loss to labor..

its what they intended    Cheesy Cheesy Cheesy Cheesy


Don't be too hard on Liar Cods, he/she is only doing what they are told. After all , no sane person would post the rubbish it posts day after day if they weren't being paid. Cheesy Cheesy Cheesy Cheesy
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juliar
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Re: Lunatic Labor to sink itself
Reply #14 - Nov 7th, 2018 at 4:22pm
 
The Lefties try to make up stories to forget about Labor's very poor performance at Wentworth.

By the time ScoMo has finished with GetUp! and Labor and the Greenies they will be universally HATED across Australia.

ScoMo's triumphant election campaigning across Qld is going very well. He makes dingy little Shorty look downright scungy.
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