Here's one way for Australia to make up for the money they're losing from Trump's tariffs.

  • Thread starter Thread starter Floyd Eye
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Floyd Eye said:
You think the Trump shit is fucking your retirement portfolio up, just wait and see how this does ya.

I imagine this move by the government will be met with as much resistance as their gun ban. Which is none.


https://www.zerohedge.com/markets/australias-unrealized-gains-tax-will-be-lesson-economic-suicide
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Luckily I don't have all my money in a Superannuation portfolio that has those rules. Therefore the $3M threshold won't affect me. However I hate the Labor government and their socialist policies. It's the politics of envy and the politics of division with their identity pollitics.

However I also hate the US for what they did to us for no good reason - have I told you that before? ;-)
 
Actually @VonBonfire despite my joke with you above, in a strange way I do blame Americans. Trump's behaviour when he became President spooked the population here so much that the Coalition lost the election to Labor. They were leading before Trump by some margin. Look it up in google if you don't believe me...

There's an article about it below and there are plenty of articles about it. I know it's true too. It was obvious to everyone here. Ask @Monkey Man for his opinion. It was 100% a factor.

https://www.bbc.com/news/articles/cdxgwnj8v5eo
 
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Thumbpicker said:
Ask @Monkey Man for his opinion. It was 100% a factor.
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Yup, I sensed and saw it play out brother. So-damned annoying. Same goes for Canada.

The irony is, IMHO, that had Trump had long-enough in-office this time 'round (like maybe even only 6 months) for his policies to play out and have the desired effect, every damned country around the world's voters would've been saying to themselves, "I want me a piece o' that".

I mean, who earning a couple o' hundred k or less wouldn't want zero income tax? No tax on overtime's HUGE too. We've been hearing peeps complain for many decades that going the extra mile at work's ruined by the tax factor. Talk about a lack of incentive to stay back after work and make some hay.

Anywho, as I said, just MHO.
 
Monkey Man said:
Yup, I sensed and saw it play out brother. So-damned annoying. Same goes for Canada.

The irony is, IMHO, that had Trump had long-enough in-office this time 'round (like maybe even only 6 months) for his policies to play out and have the desired effect, every damned country around the world's voters would've been saying to themselves, "I want me a piece o' that".

I mean, who earning a couple o' hundred k or less wouldn't want zero income tax? No tax on overtime's HUGE too. We've been hearing peeps complain for many decades that going the extra mile at work's ruined by the tax factor. Talk about a lack of incentive to stay back after work and make some hay.

Anywho, as I said, just MHO.
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I can't see the income taxes over there getting replaced by tariffs. Tariffs would need to be four times higher than what they currently are to replace income tax revenue from what I've read and plus they have to start paying down the deficit on top of that. So it doesn't add up.
 
Yeah I don’t think income tax is going anywhere. Too many greedy fucks in congress need my money.

Don’t think that new realized gains tax won’t affect you though. Maybe not now, but soon enough. Unless you plan on dying soon.

It’s hard to reconcile the fervor with which you attack the US over a 10% tariff that will never effect you and the extremely mild way you denounce your current government which will definitely affect you.
 
Floyd Eye said:
Yeah I don’t think income tax is going anywhere. Too many greedy fucks in congress need my money.

Don’t think that new realized gains tax won’t affect you though. Maybe not now, but soon enough. Unless you plan on dying soon.

It’s hard to reconcile the fervor with which you attack the US over a 10% tariff that will never effect you and the extremely mild way you denounce your current government which will definitely affect you.
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The 10% tariff in and of itself is not why I'm angry. It's the symbolism of it and the betrayal. It's not the act of a nation we counted as a friend. So rather than taking it - like a Texan I'll just tell them to go jump.

The $3 million won't affect affect me. It'll affect younger generations if it's not indexed. Hopefully by then the liberals will get back into power and repeal it.

Anyway I don't like our current government. I voted for the Liberals. Even they are too leftwing for me. What I said about Trump stuffing it for us is true enough. He had a big effect on the Australian election.
 
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Thumbpicker said:
The 10% tariff in and of itself is not why I'm angry. It's the symbolism of it and the betrayal. It's not the act of a nation we counted as a friend. So rather than taking it - like a Texan I'll just tell them to f themselves.

The $3 million won't affect affect me. It'll affect younger generations if it's not indexed. Hopefully by then the liberals will get back into power and repeal it.

Anyway I don't like our current government. I voted for the Liberals. Even they are too leftwing for me. What I said about Trump stuffing it for us is true enough. He had a big effect on the Australian election.
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You clearly didn’t read the article.
 
I read it. I already knew it. I’m an accountant I know what it means and the implications. I’m fully aware of what an unrealised gain is. Again though, at present it won’t affect me personally. It may affect me indirectly due to market forces. At the moment it will only affect people with superannuation balances over $3M.
 
Thumbpicker said:
I read it. I already knew it. I’m an accountant I know what it means and the implications. I’m fully aware of what an unrealised gain is. Again though, at present it won’t affect me personally. It may affect me indirectly due to market forces.
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They wanted to do that with homes and all kinds of stuff here. Another way to fully enslave the middle and lower classes.
 
With these unrealized gains, today it’s “only the rich,” but tomorrow it’s anyone who happened to save diligently or saw their house value rise because some genius decided to inflate the housing market even more.

So, if you’re sitting there thinking, “Well, that won’t affect me,” just wait. You might not be rich enough for the government’s shakedown yet, but thanks to inflation and asset bubbles, they’ll be at your door before you can say “unrealized gains.”
 
I was just about to post this and glad someone else did. Once this disaster unfolds, it will hopefully create such a backlash that the US will be too scared to think about it. I tell you, they are thinking about this in the US, but they won't do it if just 10% of us speak up and say hell no.
 
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VonBonfire said:
That's why we dodged a bullet avoiding a Harris presidency. That has been a democrat plan for a while. Thumbpicker will just blame it on Americans.
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This is true, but still gotta watch out for negative interest rates. Even Trump wants rates at zero again. If they can take money from your bank accounts, they would love to do it.
 
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