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The Politics Thread

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43 minutes ago, dazaau said:

I'd have to ask why you need 80k a year in tax free income when you own your own home and have no dependents. That's $1500 a week. 

I'd have to ask why you need $2million to generate an income of $80k

Just drawing down $80k a year from $2million would take 25 years

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5 minutes ago, BarryBevan said:

Do you have an interest in the fund management industry 

Yes

Relevance?

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4 minutes ago, BarryBevan said:

It’s in the 260 pages 

Find it then, or withdraw and apologise 

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6 minutes ago, BarryBevan said:

Conflict of interest in the discussion 

You clearly have a rather limited understanding of conflicts management

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IJ it's pretty clear.  If you have actual knowledge on a subject, particularly from experience, you are ineligible to discuss it or provide insight as it will just get in the way of ideology.  That's how the ALP select their policy team.

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2 minutes ago, Stikman said:

IJ it's pretty clear.  If you have actual knowledge on a subject, particularly from experience, you are ineligible to discuss it or provide insight as it will just get in the way of ideology.  That's how the ALP select their policy team.

Yeah, can't let those pesky fact things get in the way, can we?

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18 minutes ago, IronJimbo said:

Yeah, can't let those pesky fact things get in the way, can we?

you work in the industry and don't build a wall between your political posts and your experience (mind you we have all probably done that from time to time). You post in huge volume on loads of other subjects, are you expert in everything

 

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2 hours ago, softy said:

What does that mean?

For any kind of decent retirement , I reckon you need to own your house and have between 2 and 3 million in investments and super to generate an income of $60-80k per year. If you reckon you can do it cheaper than that, good luck. Tell me if you're in that position with your better job and harder work.

Just wondering, are these amounts for a single person or a couple.

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8 hours ago, Mike Del said:

Wouldn't that trigger a bi election then? I thought one of those would cost at least the $1m he wanted to save the taxpayers

It did, but I think he was making a point that pollies don't deserve what they were given. He'd always argued against it so it would have been hypocritical to accept it.

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2 hours ago, softy said:

For any kind of decent retirement , I reckon you need to own your house and have between 2 and 3 million in investments and super to generate an income of $60-80k per year. If you reckon you can do it cheaper than that, good luck. Tell me if you're in that position with your better job and harder work.

Your figures for investments are too high.

For the last 10 years the Balanced fund of my Super provider has averaged 11% (caveat past performance isn't an indicator of future etc etc). The prediction for balanced funds is they make money 9 out of 10 years. They typically have a year where they will lose. Mine's not lost but in 2012 it was 1%.

Even so, if you had $1M you should be getting close to $100k a year tax free (assuming you are retired and have it in a pension fund), probably equivalent to about $140k. If you can get $2m and own your own house you're laughing.

Edited by trinube

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Wow, I nearly fell off the lounge.

Greg Combet just said he felt Labor was always at its best when it promoted wealth creation (Hawke/Keating era) rather than wealth distribution (Shorten/Bowen). He said the current ALP spent far to much time on the latter.

He looks a lot more relaxed now he's out of politics. I had no idea he'd hooked up with Juanita Phillips, maybe she's mellowed him.

Edited by trinube

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and in  a surprise move, Palashez, said she was sick of all the delays with Adani and wants to get it approved asap.

I was so incensed with this rubbish I had to pull over and rang ABC talk back radio

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11 hours ago, trinube said:

This bloke has zero integrity - Australia dodged a bullet. Piss off and let the party decide on their own.

This is what all the finance experts have kept saying for the last few days.

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44 minutes ago, trinube said:

Wow, I nearly fell off the lounge.

Greg Combet just said he felt Labor was always at it's best when it promoted wealth creation (Hawke/Keating era) rather than wealth distribution (Shorten/Bowen). He said the current ALP spent far to much time on the latter.

He looks a lot more relaxed now he's out of politics. I had no idea he'd hooked up with Juanita Phillips, maybe she's mellowed him.

But but but Abbott was an arsehole for saying Hawke had a Liberal head and a Labor heart.... 

Edited by more

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10 hours ago, Mike Del said:

Not any more Foz, the current scheme doesn't permit that. Changed in 2004 thanks to Latham forcing Howard into a corner, perhaps the only decent thing Latham ever accomplished. 

You could be thinking of ex Nationals Senator Bill O'Chee.

 

Good and Yes that's him.

Thanks for the education. If you learn a new thing everyday its a great day!

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1 hour ago, trinube said:

Your figures for investments are too high

That's good to know. Aim high and get what I need to live a good life.

 

1 hour ago, trinube said:

If you can get $2m and own your own house you're laughing.

I did say 2 to 3m at the start, and I'm no finance buff. So again, good to know I'm in the ball park.

The other thing is the difference in having to work, and wanting to work. If you have enough set aside to allow you to work part time to top things up and because you enjoy it, why not.

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5 minutes ago, softy said:

The other thing is the difference in having to work, and wanting to work. If you have enough set aside to allow you to work part time to top things up and because you enjoy it, why not.

Totally agree with this. A guy I used to work with does a couple of days a week doing Meals on Wheels and something for Homeless folks. I don't think I'll need the money but it would be satisfying to help people doing it tough.

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5 hours ago, softy said:

 in between surfs and dropping a line in the river.

You'll catch nothing in Shark Bay that's for sure ;)

And you forgot about the Sunday surf club swim from Broulee beach to Shark Bay and back.

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1 hour ago, BarryBevan said:

you work in the industry and don't build a wall between your political posts and your experience (mind you we have all probably done that from time to time). You post in huge volume on loads of other subjects, are you expert in everything

 

Still can't find that 'quote' eh?

You really shouldn't make claims about other posters that you can't substantiate Barry.  People might think that you're a lying sack of shit...

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It would absolutely be awesome to do something like that, Tribune and softy!  Don't think I'll have the time.

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34 minutes ago, goughy said:

It would absolutely be awesome to do something like that, Tribune and softy!  Don't think I'll have the time.

Mate if lived anywhere near you I'd be happy to volunteer a few hours a week as an apprentice - I quite like working with my hands and I reckon we'd have similar tastes in music to listen to.

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Appreciate the sentiment!  But maybe we could take ourselves away to help those doing it a lot tougher!

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Just now, goughy said:

Appreciate the sentiment!  But maybe we could take ourselves away to help those doing it a lot tougher!

An old tranny does something I'd love to do. Goes to tiny remote villages in Cambodia and builds little houses for the poor - https://heartprint.org.au. It just looks like the best experience and I'd love to give it a crack if I'm fit enough when I retire. You can fund an entire house for two thousand dollars.

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5 hours ago, IronmanFoz said:

You'll catch nothing in Shark Bay that's for sure ;)

And you forgot about the Sunday surf club swim from Broulee beach to Shark Bay and back.

Mostly...but got a few squid of the rocks against the island and 2 small flatties on the sand. I swam with a few local legends at Christmas from outside Offshore surf shop, up to Candlagan Creek point and back.

Hey...stop bringing this stuff up. You're making me homesick! 

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7 hours ago, fiftyplus said:

Just wondering, are these amounts for a single person or a couple.

For a couple with 4 children and 11 grandchildren, so far.

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8 hours ago, more said:

So you are allowing $58k a year for travel and racing, recovering in business class would be nice 😎👌

We all need to continue living the life to which we have become accustomed to in 'retirement' 😁

IMG_0455.jpg

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8 hours ago, IronJimbo said:

Still can't find that 'quote' eh?

You really shouldn't make claims about other posters that you can't substantiate Barry.  People might think that you're a lying sack of shit...

Is that needed:

"People might think that you're a lying sack of shit..."

 

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11 hours ago, fiftyplus said:

Just wondering, are these amounts for a single person or a couple.

 

4 hours ago, softy said:

For a couple with 4 children and 11 grandchildren, so far.

Fair enough

 

4 hours ago, softy said:

We all need to continue living the life to which we have become accustomed to in 'retirement' 😁

IMG_0455.jpg

I’ve never lived that sought of life

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4 minutes ago, fiftyplus said:

 

Fair enough

 

I’ve never lived that sought of life

The only business class flight I've ever had was to Mackay, and I was the only one not wearing hi-vis in there. :)

 

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2 hours ago, BarryBevan said:

Is that needed:

"People might think that you're a lying sack of shit..."

 

Probably not 

Neither are your lies

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This takes education data from the 2016 Census, and uses it to analyse voting trends in each of the electorates. 

image.thumb.png.ee35651ffac068bfb347d7e6a963565b.png

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Analyses changes in voting, could be a 10% swing to the Coalition but still 60% voting Labor or vice-versa.  For those that follow statistics an R-value of that order is an indication that the relationship is fairly insignificant.

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I have a sore thumb.

Clearly getting a headache!

 

A near 5% swing on two party preferred to the lnp in my seat!  Overall there was about 55k conservative voters as opposed to about 20k left. 

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I'm pretty sure Albo has been reading trannies.

In a speech today he stated the party needed to understand that workers can't get more money if businesses aren't successful. He said it shouldn't be workers vs business and it's in everyone's best interests to work together.

He believes successful businesses hire more people and the unions will get more members. If they'd said that during the election they'd be in Government today.

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On 22/05/2019 at 2:52 PM, softy said:

In this respect, you can see why more people are chosing to 'retire' out of Australia. Even some are still getting pension and living abroad. Cost of living is much lower and places like Thailand have very good medical resources.

Retirement is becoming more of a myth. I'm 56 and will return home in my early 60's. By then I'd have worked as an expat for 30 years, with reasonable assets and some savings. However, it won't allow me not to work again. I can see myself packing shelves at Woolies to keep petrol in the car and food in the fridge in between surfs and dropping a line in the river.

Me too mate.  Trying to develop up my fishing guiding business atm to provide a little income in our retirement years.  Some rain would help, esp to the west in our Murray Cod streams.

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23 hours ago, trinube said:

Wow, I nearly fell off the lounge.

Greg Combet just said he felt Labor was always at its best when it promoted wealth creation (Hawke/Keating era) rather than wealth distribution (Shorten/Bowen). He said the current ALP spent far to much time on the latter.

He looks a lot more relaxed now he's out of politics. I had no idea he'd hooked up with Juanita Phillips, maybe she's mellowed him.

 

23 hours ago, more said:

But but but Abbott was an arsehole for saying Hawke had a Liberal head and a Labor heart.... 

You can't see multiple differences between  Combet's and Abbott's comments?

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3 hours ago, trinube said:

I'm pretty sure Albo has been reading trannies.

In a speech today he stated the party needed to understand that workers can't get more money if businesses aren't successful. He said it shouldn't be workers vs business and it's in everyone's best interests to work together.

He believes successful businesses hire more people and the unions will get more members. If they'd said that during the election they'd be in Government today.

What....its taken him 30 years to work this out? And if no one else in Labor understands this no wonder they have a problem.

Their policy in the past is.... Lets hit the big businesses with more tax, so they can reduce jobs and put more people on benefits! What did they not understand about this methodology.

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21 minutes ago, IronmanFoz said:

 

Their policy in the past is.... Lets hit the big businesses with more tax, so they can reduce jobs and put more people on benefits! What did they not understand about this methodology.

Its the indirect effect about always hitting the banks and the multi nationals. Pretty much everyone in this forum would have these shares in their super, and everyone wants a good performing superfund as do direct shareholders. Hitting them with taxes too often and eventually I think something will give. Their profits will go down, which effects their share price and yada yada. 

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2 hours ago, Paul Every said:

 

You can't see multiple differences between  Combet's and Abbott's comments?

Of course.  Abbott made Abbott's comments

The horror, the horror...

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In all seriousness, do most people ( I won't use average, as I'm not sure there is such a thing ), believe that their lives and/or lifestyle would change, no matter who won?

I don't really follow politics and don't voice an opinion as a non resident, I just have to accept what happens when I'm home and go with it. 

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5 hours ago, softy said:

In all seriousness, do most people ( I won't use average, as I'm not sure there is such a thing ), believe that their lives and/or lifestyle would change, no matter who won?

Exactly mate.

BTW will be spending this Xmas down your way at Kianga.  Know any good bass fishing spots nearby 😉 I'm thinking Moruya River near Yarragee, Tuross river near Tuross?  Apparently Tuross Lake (flathead spot) has been so hammered they had to cancel this years annual fishing comp!

Re the retirement income, I worked out we can have a good life on $58K pa (assumes own house & car). And this is actually a bit above what some of the retirement calculators say you need for a good retirement.  So would need about $1.2M in income-earning investments (assuming on av. a 5% return). Hoping to supplement that with $8K pa from guiding.

Edited by ComfortablyNumb

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6 hours ago, softy said:

In all seriousness, do most people ( I won't use average, as I'm not sure there is such a thing ), believe that their lives and/or lifestyle would change, no matter who won?

I don't really follow politics and don't voice an opinion as a non resident, I just have to accept what happens when I'm home and go with it. 

People tend to notice when less tax is taken out of their pay.  Which is why Trump's approval rose last year when he got his tax cuts through

They notice even more when more tax is taken out

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