Rumour Beams coming on heavy, hot and strong (Beams & picks 41 & 44 for 18, 56, COL's 2019 1st rd)

[Hollow Knight]

Now I’m asking because there’s people here more weread and smarter than me.

That bloke who donated $70 million, turns out it’s not all going to the victims, is this true?

More like $10mil?

 

[lionraven]

Most of it is going to a foundation to build disaster resilience.

I don't have a problem with it, personally. I think it's fair to be sceptical of billionaires donating to charity, but as always the media coverage is just amping up the perceived outrage.

For what it's worth, briztoon, I think the smartest people are the ones who aren't sure what's going on. The idiots are the ones who think they instantly understand everything enough to get angry about it.

50 million of that 70 million is going to his own personal thinktank. Gee whiz I wonder what these brilliant minds will discover now that Twiggy is funding them to identify the root cause of these fires. I can probably give you the answer now 2 years in advance of their findings (that will be announced just before the next election cycle)

1) Fires were not related to global warming and that anthropological global warming from fossil fuels (particularly the types Twiggy is invested in) is a myth
2) Fires could be better mitigated with reduced fuel load. We should just chop up all those stupid national parks and turn them into a greater suburban sprawl or perhaps a couple of mines.

Bunch of eye washing trash.

 

[Maroon Monsoon]

50 million of that 70 million is going to his own personal thinktank. Gee whiz I wonder what these brilliant minds will discover now that Twiggy is funding them to identify the root cause of these fires. I can probably give you the answer now 2 years in advance of their findings (that will be announced just before the next election cycle)

1) Fires were not related to global warming and that anthropological global warming from fossil fuels (particularly the types Twiggy is invested in) is a myth
2) Fires could be better mitigated with reduced fuel load. We should just chop up all those stupid national parks and turn them into a greater suburban sprawl or perhaps a couple of mines.

Bunch of eye washing trash.

Findings like that are definitely worth the huge tax deduction twiggy will get for giving his money to himself . Where's iBeng and his guillotine when you need him

 

[BangyBangy]

Talking to a friend the other day about this topic. I was curious as to what / if any auditing was in place for the thousands of people / organisations that are fundraising for the bushfire relief this time around. I.e. how many of the dollars raised actually make it to those that need it (and who gets it?) & how much gets gobbled up by the charity organisations running fund rasiers (don't get me wrong, I understand that charities / nfp orgs still have wages & operating expenses to cover, just curious as to how transparent most of them are).

My friend lost his property in the King Lake fires (Black Saturday) & many of his friends did too. He doesn't know anyone that that received money from funds raised last time. Went into some community betterment fund or something like that & they couldn't agree on how to spend it (thats the general gist of the story I was told anyhoo) When he donates now, he just does it direct to his local CFA.

 

[Brett C]

50 million of that 70 million is going to his own personal thinktank. Gee whiz I wonder what these brilliant minds will discover now that Twiggy is funding them to identify the root cause of these fires. I can probably give you the answer now 2 years in advance of their findings (that will be announced just before the next election cycle)

1) Fires were not related to global warming and that anthropological global warming from fossil fuels (particularly the types Twiggy is invested in) is a myth
2) Fires could be better mitigated with reduced fuel load. We should just chop up all those stupid national parks and turn them into a greater suburban sprawl or perhaps a couple of mines.

Bunch of eye washing trash.

Maybe take the time to understand what the money will be used towards rather than spout absolute nonsense.

Donations | The Minderoo Foundation

We are committed to managing personal information in accordance with the Australian Privacy Principles under the Privacy Act 1988 (Cth) and in accordance with other applicable privacy laws.

www.minderoo.com.au

I guess you’ve also pledged to donate the majority of your wealth to charitable causes like Forrest and his wife have.

They’ve already donated more than $1 billion towards various endeavours and the amount of work he has done towards improving the lives of indigenous Australians should be applauded.

 

[Tairy Greene]

Maybe take the time to understand what the money will be used towards rather than spout absolute nonsense.

Donations | The Minderoo Foundation

We are committed to managing personal information in accordance with the Australian Privacy Principles under the Privacy Act 1988 (Cth) and in accordance with other applicable privacy laws.

www.minderoo.com.au

I guess you’ve also pledged to donate the majority of your wealth to charitable causes like Forrest and his wife have.

They’ve already donated more than $1 billion towards various endeavours and the amount of work he has done towards improving the lives of indigenous Australians should be applauded.

The billionaire defender has logged on, and this bit here is just

 

[Gadzorks]

Maybe take the time to understand what the money will be used towards rather than spout absolute nonsense.

Donations | The Minderoo Foundation

We are committed to managing personal information in accordance with the Australian Privacy Principles under the Privacy Act 1988 (Cth) and in accordance with other applicable privacy laws.

www.minderoo.com.au

I guess you’ve also pledged to donate the majority of your wealth to charitable causes like Forrest and his wife have.

They’ve already donated more than $1 billion towards various endeavours and the amount of work he has done towards improving the lives of indigenous Australians should be applauded.

yeah, they got rich off government decisions re mining leases and tax advantages open to people who haveenough money to run trusts and other legit tax minimisation schemes. Schemes that the average wage/salary earner can’t use, and in fact pay the vast bulk of taxes collected. So legit, but biased.

I’m all for having a crack and getting wealthy but, in my opinion, it’s wrong that individuals can accumulate billions of dollars when all they have done is rip stuff out of the ground. Millions, tens of millions maybe but billions is wrong. Again - my opinion.

 

[Brett C]

The billionaire defender has logged on, and this bit here is just

Grow up.

 

[BRAB]

Maybe take the time to understand what the money will be used towards rather than spout absolute nonsense.

Donations | The Minderoo Foundation

We are committed to managing personal information in accordance with the Australian Privacy Principles under the Privacy Act 1988 (Cth) and in accordance with other applicable privacy laws.

www.minderoo.com.au

I guess you’ve also pledged to donate the majority of your wealth to charitable causes like Forrest and his wife have.

They’ve already donated more than $1 billion towards various endeavours and the amount of work he has done towards improving the lives of indigenous Australians should be applauded.

Good to see you destroy yet another poster with facts and logic. Always know someone has just copped an intellectual beatdown when I see you were the last to reply to a thread. Kudos.

 

[Hollow Knight]

 

[Brett C]

yeah, they got rich off government decisions re mining leases and tax advantages open to people who haveenough money to run trusts and other legit tax minimisation schemes. Schemes that the average wage/salary earner can’t use, and in fact pay the vast bulk of taxes collected. So legit, but biased.

I’m all for having a crack and getting wealthy but, in my opinion, it’s wrong that individuals can accumulate billions of dollars when all they have done is rip stuff out of the ground. Millions, tens of millions maybe but billions is wrong. Again - my opinion.

I hate to argue with actual facts as I know that doesn’t always play well with simplistic arguments but the top 10% of income earners pay close to 50% of tax while the top 1% pay 17%. They pay their car share and the share of 1000’s of others.
Why wealth is a bad thing is beyond me but you’re free to have your opinion.

 

[BRAB]

Billionaires are actually a minority group. Please leave them alone.

 

[Brett C]

You just BOOMED them again mate.

Keep it vague by the way. Daddy BRAB loves it vague. Keep tearing in mate, you've got them REELING.

You’re welcome to do a simple google search and confirm for yourself but you feel free to keep up with the inane comments instead

 

[Maroon Monsoon]

View attachment 804788

Can we use that bad boy on this thread tangent, it's going full north Melbourne

 

[BRAB]

Can we use that bad boy on this thread tangent, it's going full north Melbourne

Well actually, a simple Google search would confirm that it is North Melbourne, with a capital letter. Please get your facts straight next time. Over and out.

 

[Maroon Monsoon]

Well actually, a simple Google search would confirm that it is North Melbourne, with a capital letter. Please get your facts straight next time. Over and out.

Capitalising north is a part of the billionaire classes clever conspiracy to gain the reverence of the masses through giving a title to a word commonly associated with 'up'. This makes sense because a billion is also a number that is up from, like, three.

Anyway I'm wise to their game and will have no part of it. north Melbourne forever

 

[bungalow_bill]

yeah, they got rich off government decisions re mining leases and tax advantages open to people who haveenough money to run trusts and other legit tax minimisation schemes. Schemes that the average wage/salary earner can’t use, and in fact pay the vast bulk of taxes collected. So legit, but biased.

I’m all for having a crack and getting wealthy but, in my opinion, it’s wrong that individuals can accumulate billions of dollars when all they have done is rip stuff out of the ground. Millions, tens of millions maybe but billions is wrong. Again - my opinion.

Love of money is the root of all evil

 

[irel]

Love of money is the root of all evil

I'm so &%$#@ evil. Pitty I don't have the root to be even eviler.

 

[lionraven]

I hate to argue with actual facts as I know that doesn’t always play well with simplistic arguments but the top 10% of income earners pay close to 50% of tax while the top 1% pay 17%. They pay their car share and the share of 1000’s of others.
Why wealth is a bad thing is beyond me but you’re free to have your opinion.

Gee willikers thank you Mr Forrest for your contribution.

Australia’s average net wealth per household is $936,000, of which 39% is held in the main home, 20% in superannuation, 19% in shares and other financial assets, 12% in investment real estate, and 10% in other non-financial assets such as cars10. The high average figure for asset holdings is due in part to the substantial wealth of a wealthy minority11. For example, in 2017, there were 3,000 Australians with $US50 million or more. In contrast, the average wealth holdings of the middle 20% of households is much lower, at $537,000.

Wealth holdings are much more concentrated than income. The highest 20% of households by wealth own 62% of all wealth, while the lowest 50% own just 18%. The average wealth of a household in the highest 20% wealth group ($2.9 million) is five times that of the middle 20% ($570,000) and almost a hundred times that of the lowest 20% ($30,000). The wealthiest 5% had average wealth of $6 million and the wealth of the highest 1% averaged $14 million

Inequality in Australia 2018 HTML – ACOSS

www.acoss.org.au

The top 20% of households holding 62% of the wealth; 5 times as much wealth as the middle 20% and yet the top 10% of income earners are only paying 50% of the tax. How generous.

Oh pardon me. I got confused between white collar idiot income earners like me who work in hospitals and have to pay the 37-45% tax rates after a decade of study and people like old mate Twiggy who does not earn a cent personally and instead has his wealth stored through various companies and tax advantaged structures.

Income tax expense for the year of US$367 million at an effective income tax rate of 29.5 per cent (FY17: US$874 million, at an effective rate of 29.5 per cent).

http://www.annualreports.com/HostedData/AnnualReports/PDF/ASX_FMG_2018.pdf

Thank goodness for Twiggy donating 70m AUD to his own thinktank instead of paying taxes. Someone as benevolent as Twiggy should decide what happens to that money instead of the Australian people and their government.

I respect Clive Palmer somewhat (but not very much) for not hiding his political lobbying in clandestine think tank/lobbying groups masquerading as charities like old mate Twiggy and Gina do. Palmer outright declares himself a political party. The biggest dog s**t billionaire would have to be Rupert though. He disguises his politics as news media.

So at most he has paid a 29.5% rate.

 

[irel]

I wish I was a natural resource pillaging billionaire so I can tell you "minority group" hating rednecks to suck my $$$$ but...

 

[Bobby Beecroft]

People do understand that the company tax rate in our country beyond SBEs is 30%?
If operating through such an entity why would the tax rate be any higher?

Not sure how the $50 million that is allocated to a think tank becomes a tax deduction, as I don't see these funds going to a deductible gift recipient (DGR).

 

[T Rick]

Maybe take the time to understand what the money will be used towards rather than spout absolute nonsense.

Donations | The Minderoo Foundation

We are committed to managing personal information in accordance with the Australian Privacy Principles under the Privacy Act 1988 (Cth) and in accordance with other applicable privacy laws.

www.minderoo.com.au

I guess you’ve also pledged to donate the majority of your wealth to charitable causes like Forrest and his wife have.

They’ve already donated more than $1 billion towards various endeavours and the amount of work he has done towards improving the lives of indigenous Australians should be applauded.

Well said!

 

[Hollow Knight]

Imagine if we had nationalised our resources for the betterment and long-term security of all Australians instead of selling the rights for a quick buck.

*looks enviously at Norway’s sovereign wealth fund and cries softly*

 

[lionraven]

Imagine if we had nationalised our resources for the betterment and long-term security of all Australians instead of selling the rights for a quick buck.

*looks enviously at Norway’s sovereign wealth fund and cries softly*

Who needs a sovereign wealth fund when we can beg billionaires to fund us down whatever political whims they want.

 

[Dalions]

Imagine if we had nationalised our resources for the betterment and long-term security of all Australians instead of selling the rights for a quick buck.

*looks enviously at Norway’s sovereign wealth fund and cries softly*

Does this mean the Billionaires will pay more tax?