Politics The Hangar Politics Thread

[raskolnikov]

Did the Donald really shit himself on live tv?

 

[jannissary]

Did the Donald really shit himself on live tv?

you can see rfk flinch, i think so.

 

[boncer34]

Jacinta criticising the RBA was an interesting move.

 

[Vander18]

Jacinta criticising the RBA was an interesting move.

Interesting in the sense of displaying absolutely no understanding of economics or her own substantial contribution to the cost of living situation?

The hides on these politicians!

 

[Howard Moon]

So, I'm sure the impending visit of the Israeli President will go by without issue or incident...

They will get the exact response they always desire, another easy reason to call us a country of anti semites while they keep on genocidin'

 

[boncer34]

So, I'm sure the impending visit of the Israeli President will go by without issue or incident...

They will get the exact response they always desire, another easy reason to call us a country of anti semites while they keep on genocidin'

We could not give them the response they want.

 

[doug85]

Happy to hear that the CGT discount will likely drop from 50% to 33%. Should be a win for inflation and slow house price growth a little.

 

[boncer34]

Happy to hear that the CGT discount will likely drop from 50% to 33%. Should be a win for inflation and slow house price growth a little.

Its a good start.

 

[dank420_]

Happy to hear that the CGT discount will likely drop from 50% to 33%. Should be a win for inflation and slow house price growth a little.

Be like me and sell your place at a loss

 

[boncer34]

Be like me and sell your place at a loss

View attachment 2521950

Offsetting future gains.

 

[doug85]

Be like me and sell your place at a loss

View attachment 2521950

Or in my case, sell your shares at a loss and watch them shoot up $50/share over what you sold them for in the space of 7 months

 

[dank420_]

Offsetting future gains.

True but now I'm too poor to have a thing that gains.

 

[joey_jo_jo]

Is federal government spending really to blame for higher inflation? It’s not clear cut

Government spending – federal, state and local – grew by less than consumer spending and business investment last year.

theconversation.com

Good little explainer of why govt spending doesnt necessarily = inflation.

Its wild that there are members of the RBA and sections of the media cheerleading for "MOAR unemployment, Less Government spending", out of touch pricks that have never experienced the cost of living crunch.

 

[ant555]

Is federal government spending really to blame for higher inflation? It’s not clear cut

Government spending – federal, state and local – grew by less than consumer spending and business investment last year.

theconversation.com

Good little explainer of why govt spending doesnt necessarily = inflation.

Its wild that there are members of the RBA and sections of the media cheerleading for "MOAR unemployment, Less Government spending", out of touch pricks that have never experienced the cost of living crunch.

It is part of the equation. Simple.

 

[boncer34]

Is federal government spending really to blame for higher inflation? It’s not clear cut

Government spending – federal, state and local – grew by less than consumer spending and business investment last year.

theconversation.com

Good little explainer of why govt spending doesnt necessarily = inflation.

Its wild that there are members of the RBA and sections of the media cheerleading for "MOAR unemployment, Less Government spending", out of touch pricks that have never experienced the cost of living crunch.

Amusing the article uses Jim Chalmers quote in parliament as evidence the government isn't driving inflation.

The post 1960's GDP spending is 22%, we're sitting at 28% atm or if you want 27% above average.

Government spending is absolutely a contributing factor in our current inflation problems.

 

[joey_jo_jo]

Amusing the article uses Jim Chalmers quote in parliament as evidence the government isn't driving inflation.

The post 1960's GDP spending is 22%, we're sitting at 28% atm or if you want 27% above average.

Government spending is absolutely a contributing factor in our current inflation problems.

We are in a cost of living crisis, many lower socio-economic australians are feeling the pinch. The answer isnt austerity measures/small government, its tax reform to improve the revenue stream.
We havent had significant tax reform since Howard brought in GST.

 

[boncer34]

We are in a cost of living crisis, many lower socio-economic australians are feeling the pinch. The answer isnt austerity measures/small government, its tax reform to improve the revenue stream.
We havent had significant tax reform since Howard brought in GST.

100%. Tax the wealth.

But that doesnt change the government spending % of GDP is at its highest level (outside of Covid) since the mid 80's.

The government shouldn't be denying their spending is driving inflation, they should embrace it and use it to drive change. "Yes we're driving inflation because we have to prop up the economy, to stop we have to change x y z in our system or we have no choice but to keep spending."

But our politicians aren't strong enough for that.

 

[joey_jo_jo]

100%. Tax the wealth.

But that doesnt change the government spending % of GDP is at its highest level (outside of Covid) since the mid 80's.

The government shouldn't be denying their spending is driving inflation, they should embrace it and use it to drive change. "Yes we're driving inflation because we have to prop up the economy, to stop we have to change x y z in our system or we have no choice but to keep spending."

But our politicians aren't strong enough for that.

No arguments there, frustrating that both parties have had no appetite for reform for close to two decades now (basically since Rudds mining tax was watered down and they ignored the rest of the Henry reviews suggestions).
Chalmers has talked a good game at times but feels like Albanese puts the brakes on him.

 

[ant555]

We are in a cost of living crisis, many lower socio-economic australians are feeling the pinch. The answer isnt austerity measures/small government, its tax reform to improve the revenue stream.
We havent had significant tax reform since Howard brought in GST.

Governments first home buyer program is not actually helping things. Neither did power bill payouts to millions who are on the plus side of $100k. There is spending and there is spending.
Also, there are levels of cost-of-living crisis. Of course, there are many low-income families and pensioners feeling the pinch along with single people who cannot afford the rent and live in their car or on the street.
However, there is also a lot of self-inflicted cost of living crisis and let's face it Uber Eats, Menu Log etc are still going okay. People seem to be able to afford being lazy. Most seem to be able to afford spending on roadside take away coffee every morning rather than making their own.
There 100% does need to be tax reform but the simple fact is government spending is also a major issue in inflation and if you read 100 stories about it 90% will state that fact.
Extremely poor housing programs from both sides of government are a big factor. As are some of the big infrastructure builds like "Dan's" train line from nowhere to nowhere. The big build was great at keeping people in jobs but as predicted it was always going to stretch the economy at some stage and put pressure on trades to keep up the pace.
The measure is actually less government spending and switching to smarter spending along with some Tax reform.
For some reason we have turned into some sort of hand out society where who can give out the most money wins.
We do need to help plenty for sure but there are quite a number of noses in the trough that really do not need to be there.

 

[ant555]

This is just a basic AI search, but it outlines a number of factors that are happening here now.

1. Demand-Pull Inflation (Excessive Spending)
This occurs when the total demand for goods and services outstrips the economy's capacity to supply them.

• Strong Consumer Spending: When households have high disposable income or confidence, they spend more, allowing businesses to raise prices.
• Government Spending: Expansionary fiscal policies and large-scale infrastructure projects increase overall demand in the economy.
• Population Growth: High levels of migration increase demand for essentials like housing, health, and education, often faster than the supply of these services can grow.
• Housing Demand: Low vacancy rates and high demand for rentals have led to a significant surge in rent prices across major cities.

2. Cost-Push Inflation (Rising Production Costs)
This happens when the costs for businesses to produce goods and services increase, and those costs are passed on to consumers.

• Energy and Fuel Prices: Spikes in global oil prices (often due to geopolitical events like the war in Ukraine) and rising domestic wholesale electricity and gas prices are major drivers.
• Construction Costs: Significant increases in the price of building materials and labour shortages have made building new homes much more expensive.
• Wage Growth: When the labour market is "tight" (low unemployment), businesses must pay higher wages to attract staff, which can lead to higher prices for consumers.
• Climate & Natural Disasters: Frequent floods, bushfires, and storms disrupt food supplies (raising grocery prices) and significantly increase insurance premiums.

3. External & Structural Factors

• Imported Inflation: A weaker Australian dollar makes imported goods (like electronics or cars) more expensive.
• Supply Chain Disruptions: Global events, such as pandemic-related backlogs or international trade bottlenecks, limit the availability of goods, driving up their cost.
• Corporate Profits: Some research suggests that large corporations in industries with limited competition (like supermarkets or airlines) have increased prices beyond their own cost increases to boost profit margins.
• Inflation Expectations: If businesses and households expect prices to rise in the future, they may pre-emptively raise prices or demand higher wages, creating a self-fulfilling cycle.

 

[boncer34]

King Patty why dont you like CGT reduction?

 

[ant555]

I should be against it as it will cost me at some stage, but I actually think it is reasonable.

 

[joey_jo_jo]

Governments first home buyer program is not actually helping things. Neither did power bill payouts to millions who are on the plus side of $100k. There is spending and there is spending.
Also, there are levels of cost-of-living crisis. Of course, there are many low-income families and pensioners feeling the pinch along with single people who cannot afford the rent and live in their car or on the street.
However, there is also a lot of self-inflicted cost of living crisis and let's face it Uber Eats, Menu Log etc are still going okay. People seem to be able to afford being lazy. Most seem to be able to afford spending on roadside take away coffee every morning rather than making their own.
There 100% does need to be tax reform but the simple fact is government spending is also a major issue in inflation and if you read 100 stories about it 90% will state that fact.
Extremely poor housing programs from both sides of government are a big factor. As are some of the big infrastructure builds like "Dan's" train line from nowhere to nowhere. The big build was great at keeping people in jobs but as predicted it was always going to stretch the economy at some stage and put pressure on trades to keep up the pace.
The measure is actually less government spending and switching to smarter spending along with some Tax reform.
For some reason we have turned into some sort of hand out society where who can give out the most money wins.
We do need to help plenty for sure but there are quite a number of noses in the trough that really do not need to be there.

What does your question time watcher think?

 

[King Patty]

King Patty why dont you like CGT reduction?

Its shifting the blame to investors for the housing crisis, rather than on the politicians who created the conditions for the housing crisis due to mass immigration in a short period of time post covid which has driven up rental prices due to the low vacancy rate all across Australia. It doesn't really matter where you move now, just finding a house to rent is difficult and not cheap.

If you look at inflation - 33% is only a few years and CGT discount is gone.

A lot of people have sold rentals in the last few years and done ok out of them. This will likely encourage more sales.

I also don't like that the government are encouraging foreign investment in build to rent schemes, locking in future Australians as lifelong renters for the benefit of foreign landlords.

I would be more positive towards limiting negative gearing to 1 or 2 rental properties from existing stock.
And then only for new Builds.

 

[ant555]

What does your question time watcher think?

Is there such a thing?