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Re: General Discussions - ElwoodBlues1 - 08-02-2021
(08-02-2021, 02:17 PM)dodge link Wrote:Three things that I can't stand about Howard. First two are about looking after those who can already look after themselves.You need to means test franking credits and cap them for anyone earning over 80-100k.
1) Legacy of 50% discount for capital gains. This kicked off housing unaffordability (aing with some other housing policies).
2) Full refund of franking credits. It's wrong makes no sense and is costing a lot now.
3) Tampa. Disgusting. Set the tone for Abbott, Dutton and others. Horrible legacy.
The good thing he did was gun laws.
If you scrap them completely then you will have a lot of self funded retirees qualifying for the pension, dropping their private health insurance and getting health care cards etc.
You want to deny the Twiggy Forests etc who earn millions in dividends but not punish the little bloke who earns 40k and uses those franking credits for his health insurance etc and who will become a burden on the pension and health care system.
Re: General Discussions - cookie2 - 08-02-2021
Hawke owed a lot to Keating and Howard owed much to Costello imo.
Re: General Discussions - dodge - 08-02-2021
(08-02-2021, 02:45 PM)ElwoodBlues1 link Wrote:You need to means test franking credits and cap them for anyone earning over 80-100k.I don't disagree - finding the right balance is the hard bit. No one should be seen as 'a burden on the pension and health care system'.
If you scrap them completely then you will have a lot of self funded retirees qualifying for the pension, dropping their private health insurance and getting health care cards etc.
You want to deny the Twiggy Forests etc who earn millions in dividends but not punish the little bloke who earns 40k and uses those franking credits for his health insurance etc and who will become a burden on the pension and health care system.
Re: General Discussions - LP - 08-03-2021
(08-02-2021, 02:45 PM)ElwoodBlues1 date Wrote:You need to means test franking credits and cap them for anyone earning over 80-100k.
If you scrap them completely then you will have a lot of self funded retirees qualifying for the pension, dropping their private health insurance and getting health care cards etc.
You want to deny the Twiggy Forests etc who earn millions in dividends but not punish the little bloke who earns 40k and uses those franking credits for his health insurance etc and who will become a burden on the pension and health care system.
I agree, but I think the thresholds should be geared to the average wage, so that it scales automatically as the economic environment changes. Also, as part of this I think the Feds need to look at issues like provisional tax. The problem I see is that the sole trader types and tradies can dabble in the share market and have massively variable income from year to year but not be earning that much on average. So if they have a very good year and the thresholds are set too low you can really punish their earnings. Alternatively maybe make these calculations based on an average over a few years.
What do you do when someone like Packer or Rinehart declare an income of $35K, while their wealth doubles and the number of people they employ plummets?
Re: General Discussions - ElwoodBlues1 - 08-03-2021
(08-02-2021, 11:03 PM)dodge link Wrote:I don't disagree - finding the right balance is the hard bit. No one should be seen as 'a burden on the pension and health care system'.Not great terminology being a burden but thats how governments view it and why they want everyone with superannuation so they can scrap pensions in the long term. The sad part is we need people paying Private Insurance to help take the pressure off the public system, fund private hospitals and find that right balance.
What we dont want is the likes of Twiggy, Gina Reihardt, etc etc paying no tax and getting bucket loads of franking credits....
Re: General Discussions - capcom - 08-03-2021
Look at how it went down when shorten pushed for it.
Re: General Discussions - dodge - 08-03-2021
Shorten's version was badly thought out and marketed. If you are going to change people's financial planning at the drop of a hat, there needs to be provision for grandfathering/tapering of the change - it has been part of planning for 15-20 years, can't just undo it.
Re: General Discussions - ElwoodBlues1 - 08-03-2021
(08-03-2021, 12:54 AM)dodge link Wrote:Shorten's version was badly thought out and marketed. If you are going to change people's financial planning at the drop of a hat, there needs to be provision for grandfathering/tapering of the change - it has been part of planning for 15-20 years, can't just undo it.Cost Labor a lot of retirees and their families votes, Wilson Asset Management boss Geoff Wilson campaigned hard against it and and won a lot of support. Going to be hard to win those votes back for Labor and the Libs are going to use it every election like how work choices became an anchor around their necks.
Re: General Discussions - capcom - 08-03-2021
He is brainless and unelectable. A tool. Then again, so is turnbull.
Re: General Discussions - dodge - 08-03-2021
That's the problem, Capcom. Most of them are unelectable, but we do it to spite ourselves anyway.