It’s all about their pockets Doesn’t matter about us working class Aussies They look at it like Well I’ll be dead someday so I won’t care It’s why they let immigration go crazy They drive the prices up And we get fucked
Except if it's consistent and missing key data that's inherited , it's preaching half the story - we inherited a complete sh/tshow from 3 coaltion governments and this is waffling one sided dribble not agknowledging what the Coaltion have us generationally and we know the upper end of the private sector has their hands out as they are desperate for more public money - hence his appearances on Coalition media outlets
Over taxing the nation to the point that Australian locals can't afford to buy a home of their own. And yet foreigners from third world countries can afford our homes.
Half of Australia's luck was being a mantelpiece trophy for the British Royal family, with most states named in their honour. With the setting of the British sun, Australia aligned itself with the US pole and suddenly started doing inexplicably self destructive things like demolishing relations with its biggest trading partner, giving away it's resources for free to Japan and miring it's population into ballooning mortgage debt.
Exactly this, the Pom's poured money into building this place (they took their shilling in interest mind) and we built an egalitarian society based on it. Since we've been shorn off the Empire we've sort of floated into being America lite. I don't know if the decline can be arrested at this stage.
Britain abandoned Australia twice during the 20th century, in 1942 when Churchill declared India was of greater strategic importance and again in the 1960s when Wilson withdrew from East of Suez and flagged the end of Commonwealth trade preference with his application to join the EEC. Australia may well have demolished relations with her biggest trade partner in 2020 but it had nothing to do aligning with the USA eight decades earlier in 1942 when things seemed quite dire out here in the Indo-Pacific.
The NDIS has become a disaster - I’ve heard so many wroughting stories from folks in the dog park - Maybe I should get an ADHD diagnosis so I can get someone to clean my house and gernie my driveway on NDIS. Or a podiatrist claim on the NDIS is $400, where pre-NDIS it was $100. What a disaster.
I saw a old lady who was at McDonald's with her career and 2 government paid people helping her while the paid career was on his phone playing a game. Then they took her to a taxi cab that was paid for by the government . So in other words we paid 5 people on tax money go to McDonald's. ??? Is this acceptable for all of us as tax payers?
A friend’s kid - bit of a spoilt brat - was diagnosed with autism despite very very few red flags. She was allocated $25,000 NDIS funding. Dragged all her kids around the city getting this one child therapy - even she said it was stressful and results weren’t worth the effort. Next financial year, the govt UPPED her NDIS to $40,000 per annum, for this one child, despite (1) not using all of the previous year’s funding; and more importantly, (2) not even requesting an increase. The whole system is broken.
@HP66856 what's crazy is the people that claim from "her" NDIS fund often get a second payment from the government like doctors claim medicate and co payment from us. . There is so much waste and over spending which is not fair to tax payers.
Have been saying for years, our income is not diverse enough. Beef is fading. Coal is fading. Iron will fade due to better quality ore from other countries. Our good stuff is gone.
Left school in 1981 I grew up near botney in Sydney were was a very large manufacturing and we even had large petrol ⛽️ depo labour stated closing all manufacturing slowly 🐌 😢both parties have sold the Australians down the drain 😅
I have an idea. Australia could keep the same governmental system with one simple change, do the _exact opposite_ to every decision they come up with. We would be in a _far_ better position both now and moving forward.
The surpluses are largely due to record high tax revenues from the resource industry , which pays more tax than all the other industries combined. This includes Australian based miners like BHP ,RIO and Woodside as well as multi national foreign based companies like Glencore and Chevron.
Pathetic management by the Federal government. The US just learned what happens when the government says the economy is going great, and the people know it isnt. In Australia it feels like a deep recession.
Deep recession? Unemployment is at 4.1% 😂 This is an inflation led economy, not a deep recession. We may get a recession in the future but we haven't started seeing that yet. You'll know we're in a deep recession when those unemployment numbers get into double digits. But right now it's still difficult to find people to work, which is holding back productivity. Meanwhile there are 15K more lawyers graduating per year than we need because government caps on university placements to align graduates with demand were removed under Rudd.
@tjmarx It's a per capita recession. GDP per person has fallen steeply for years. Immigration is responsible. Low unemployment...but have you noticed how hard it is to get a new job?
@keepitreal2902 It's not difficult to get a new job. I'm an employer. My wife is an employer at a separate company. Most of our friends are employers. Across different industries. Everyone is complaining that finding qualified staff is ridiculously hard. My wife hired for an entry level administration position recently, this was literally a no prior experience necessary role and advertised as such. Excluding the people who couldn't speak English fluently (one of the very few hiring criteria the role had) she had 5 people apply. FIVE! That was less than 4 weeks ago. Job listed on seek, indeed, linkedin, all the normals. 5 actual candidates. When you do hire someone, they want a salary far beyond the award and definitely beyond the value they bring. Half the time they then come in and are unproductive. So you're essentially just pouring money down the drain. Everyone is trying to be in the 1% and very few people are ok with being in tje 99%. Hopefully you can see where this might go wrong. It's completely destabilised the economy. There's no such thing as a per capita recession. That's bunk. We're in a high inflationary environment with a CPI out of step with the market due to in part artificial demand caused by immigration (both foreign and importantly post covid mass internal migration). But the biggest drivers of this environment are yankville destablising the entire western economy by printing ridiculous amounts of money (and trump won't stop this), and our government following suit. Both of these things devalue the AUD and drive up CPI. This only benefits the elites which is why they're doing it.
Great overview of an otherwise dire situation - serious rethink on behalf of the political class is needed quickly otherwise we are seriously risking becoming a failed state in the coming years
It is driven by the millions of votes that they keep getting at every election. That is a huge stamp of approval for them. They see no reason to change.
Love your work sir, a breath of sanity during such a depressing government period. These guys are the worst we’ve had trying to run this country in my 68 years on the planet. Absolute bunch of idiots ruining the country. 😡
Im not a fan of the Liberals but it seems wherever we have Left-wing governments rule (Now Labour in Australia) our economy tanks, we are over-taxed, and control of speech/internet/freedom is reduced. We are all tired of it.
The CEO's from all above recieve approximately $2,000,000 in shares each year they are in office and that pays them dividends of approximately $100,000 per year. That is on top of their salary. They claim to seek massive profits for their shareholders and superfunds. Not many individuals recieve that amount from the super funds even on retirement. Who holds the most shares and voting rights to grant them even more renumerations each year? Go figure.
That happened the moment we let albo in power with 33% and Will get the Same from LIBS and green's vote one nation and don't let them tell you they only got 7% 😅
It's no better under the wackos either. What we need is a coordinated vote for independents. If we can manage to get just 38 independents elected out of 151 seats would utterly destroy the party system and force power back into the hands of the electorate where it belongs. Just 38 seats need to coordinate to elect an independent. Just 38. It's absurd how small the number is and yet we haven't done it.
Energy is now too expensive (due to the net zero war on fossil fuels ) , to make it economically viable...manufacturers are moving to the USA where energy is one third to one half the cost of what it is here.
Bring back all furniture manufacturing. Australia is one of the highest importers of furniture in the world. Jobs for upholsterers, cabinet makers and wood machinists. Apprenticeships for our young people. When I see furniture items in retail outlets with a 90% mark-up there is something wrong and tariffs should be applied.
Sorry but you can't blame that on Whitlam. It was the Frazier government that ratified the Lima Declaration and was signed by Senator Willesee. That spelled disaster for Australia. Jack Boot Johnny was no better.
Thanks Leith questions if I may not sure if you respond on YT but love your work 1. Why is the Ukraine/Russian war impacting resources outside Gas? As far as I knew Gas was the one resource Russia was a big supplier of but iron ore and coal not understanding. 2 what’s causing the forecasted decrease in demand for our coal/iron materials?
The price of all commodities bloomed after the war. But they rose most for energy (coal and gas). The iron ore price is now falling due to waning Chinese demand. The great 25 year building boom in China is running out of steam. Trump's tariffs would worsen the situation as it would lower demand for Chinese made goods.
@@Leithvo thanks mate much appreciate keep up the work ! The people respect those that aren’t afraid to go against the grain even if it means they won’t get invited to the “functions” where all that do say they care about the people while winking at one another
Possibly Australians need a good economic whack in order to wake them up to the realities of life. I am an age pensioner and don't know what to do with all of the bribes that the government keep on paying to me.
@@berniestar1490 there’s a 33% discount for capital gains, which is accounting for inflation somewhat but still probably taxing inflation on most super accounts. High income earners pay 30% contributions tax instead of 15%, and there’s a max super amount of $30k this financial year. So it’s not like high income earners are getting 12% when it maxes at $30k. Most of today’s 15 year olds will have $3m in their super when they’re 65 (low cost fund that has options to invest in index funds and SP500 makes up 50% at least). Income from super of $3m value gets taxed at 30% now. The government dangled the ‘top 1%’ line. They don’t seem to understand compound growth. Or maybe they do. But it means most young Australians will be paying up to 30% progressive tax on the income based on the value of the super fund, not the income. They tax less on income with bracket adjustments but tax more on the way out in retirement.
Super should be scrapped. It is a gravy train for fees for big super and higher incomes benefit more than lower incomes due to its taxation. We are better off without it. It has been in place for 30 years with no meaningful change in the number of people requiring the pension.
I hear all these negative indicators and understand. What I don't hear is a viable solution to the housing, energy and cost of living pressures that was lit by the coalition and fueled by the LiberalLite Albanese govt. (yep - this didn't just happen overnight). Dwelling approvals plummeted under the coalition in the 3 years before covid....There is NO WAY that the coalition solves any of these issues with the currently elected backward looking membership.
Both sides run similarly dumb policies. But Labor unfortunately chose to go full idiot on immigration, which made everything regarding housing much worse.
Australia's luck has run out before. In fact, Australia has reinvented herself several times in the past with rapid industrialisation during the 1930s to address the impact of the Great Depression, WWII industrialisation to address shortages, post war reconstruction, the end of Commonwealth trade preference in the 60s and 70s with the UK applying to join the EEC, trade with Japan, Hawke/Keating/Howard Costello deregulation of the 80s and 90s, Japan diversifying her suppliers in the 90s, trade with China in the 2000s and the end of the China trade monopoly with the Covid logistics crisis. It is nothing new.
Australia was white then. It's 35% first generation mostly Indian with a billion more that want to come over through chain migration. You could only guess at the anglo population because the government would never release it. When we had problems it the past we had social cohesion. Multiculturalism doesn't work and we are about to see the result of people from different cultures fighting over the scraps.
We are such a rich country in resources. We could really be a powerhouse.Like the UAE. Energy dominance. National Economy would be amazing, National debt could be zero. But no.we are becoming a third world tyrannical controlled country by foreign NGO’s❤️
@@philmelb1022 with respect that is wrong. The RBA is a private corporation that loans money to our government to with interest attached. Our currency is backed by debt and is not sovereign. Government taxes us to pay back the central banks. Could go on but that is the jist.
@@thisthattheother7541does the government not choose to take the loans? How does the central bank force the government to enter into the loan contracts that force them to tax the people to pay the RBA back?
Leithvo with his usual pro Coalition take again The Coalition already had us in record debt prior to covid and wasted the most amount of money on any side of government in Australian history dwarfing anything the current government has spent in it's time but I love how Leith tries to potshot Chalmers on this one. Beyond idiotic Then we have the headline reading luck is about to the end - leith our luck ran out a decade ago, structural deficiencies where already in play well before the current Labor government and now we have a coaltion pretending they didn't give us this complete sh/theap we are in. Gaslighting only gets you so far.
Providers from. Oct23 have to submit ALL expenditure receipts. They Must be registered with ASIC. All plans have been revised down to annual or bi annual assessments. I spoke to my LAC who stared that the Ndia has already noticed a hughe reduction in claims and have already begun charging offenders who tried to rort the system. Every participant must medically qualify for continued support. This support has been slashed to clients in dollar terms. LAC offices have been closed and are managed only in main hubs eg. Bendigo. People down get squat without medical evidence.
Leith the stock market is red hot, hitting new highs when everyone is screaming poor. What is going on? You think the big boys are getting ready to pull the rug out?
@ something has to happen. We’ve never been so broke, 1000’s of businesses closing down, yet the ASX approaching 8500. It was 4000ish during the GFC, and I don’t remember people doing it this tough back then.
Their cashflow has increased proportionately (industrial Aussie shares, and Macquarie bank) due to inflation. So their prices are largely in line. Aussie market is banking and mining that drive ASX though.
Just tried to get a coffee at Noosa Heads know parking and 3 to 12 million dollar property’s Australia has gone to the dogs unaffordable for even middle class very sad to see 🫣🥲🥹😱
Our political class have sold us Aussies out.
I actually think that they’re incompetent. Implying sell out suggests they are smarter than they perhaps are
@@NoRegertsHerea bit of column a, a bit of column b.
The golden elevator rides are certainly not a accident 😏
@ valid
Australia is run by a cartel. Sucking this country dry
It’s all about their pockets
Doesn’t matter about us working class Aussies
They look at it like
Well I’ll be dead someday so I won’t care
It’s why they let immigration go crazy
They drive the prices up
And we get fucked
Your a legend Leith, thankyou for your consistent messaging.
Except if it's consistent and missing key data that's inherited , it's preaching half the story - we inherited a complete sh/tshow from 3 coaltion governments and this is waffling one sided dribble not agknowledging what the Coaltion have us generationally and we know the upper end of the private sector has their hands out as they are desperate for more public money - hence his appearances on Coalition media outlets
Claiming to be an economic hero by over taxing the population is a bit like Claiming to be a good businessman by robbing a bank.
By robbing your own company actually
Over taxing the nation to the point that Australian locals can't afford to buy a home of their own. And yet foreigners from third world countries can afford our homes.
Australia is fucked
Half of Australia's luck was being a mantelpiece trophy for the British Royal family, with most states named in their honour. With the setting of the British sun, Australia aligned itself with the US pole and suddenly started doing inexplicably self destructive things like demolishing relations with its biggest trading partner, giving away it's resources for free to Japan and miring it's population into ballooning mortgage debt.
Exactly this, the Pom's poured money into building this place (they took their shilling in interest mind) and we built an egalitarian society based on it. Since we've been shorn off the Empire we've sort of floated into being America lite. I don't know if the decline can be arrested at this stage.
@algardaus good point, they tried to build a society. We are just a taxable minesite now
Britain abandoned Australia twice during the 20th century, in 1942 when Churchill declared India was of greater strategic importance and again in the 1960s when Wilson withdrew from East of Suez and flagged the end of Commonwealth trade preference with his application to join the EEC.
Australia may well have demolished relations with her biggest trade partner in 2020 but it had nothing to do aligning with the USA eight decades earlier in 1942 when things seemed quite dire out here in the Indo-Pacific.
I blame the baby boomers, the problem with that is that I am one of them.
@@algardaus
The decline...
2004.
The cause ...
The Greens
I think you’re the best economist. Logic and accuracy.
The NDIS has become a disaster - I’ve heard so many wroughting stories from folks in the dog park - Maybe I should get an ADHD diagnosis so I can get someone to clean my house and gernie my driveway on NDIS. Or a podiatrist claim on the NDIS is $400, where pre-NDIS it was $100. What a disaster.
I saw a old lady who was at McDonald's with her career and 2 government paid people helping her while the paid career was on his phone playing a game.
Then they took her to a taxi cab that was paid for by the government . So in other words we paid 5 people on tax money go to McDonald's. ???
Is this acceptable for all of us as tax payers?
A friend’s kid - bit of a spoilt brat - was diagnosed with autism despite very very few red flags. She was allocated $25,000 NDIS funding. Dragged all her kids around the city getting this one child therapy - even she said it was stressful and results weren’t worth the effort. Next financial year, the govt UPPED her NDIS to $40,000 per annum, for this one child, despite (1) not using all of the previous year’s funding; and more importantly, (2) not even requesting an increase. The whole system is broken.
@HP66856 what's crazy is the people that claim from "her" NDIS fund often get a second payment from the government like doctors claim medicate and co payment from us. . There is so much waste and over spending which is not fair to tax payers.
@@hrausss It wasn't paid by the government. The government has no money. It was paid by the taxpayer! Never forget that.
Funny how a woman I know has a new wardrobe since she’s received ndis money for her daughter. Sure, some people do need the ndis, but not everyone.
Chalmers is a fraud
Superintendent
The one before him ... . where is he now? Goldman Sachs? Some are so delusional
Chalmers is also on the WEF website, he's a puppet.
Not as big as Fraudenburg and the tax offset dropped courtesy of Libs
Have been saying for years, our income is not diverse enough. Beef is fading. Coal is fading. Iron will fade due to better quality ore from other countries. Our good stuff is gone.
Left school in 1981 I grew up near botney in Sydney were was a very large manufacturing and we even had large petrol ⛽️ depo labour stated closing all manufacturing slowly 🐌 😢both parties have sold the Australians down the drain 😅
News flash. There are more than two political parties. I have never v0ted for the either of the big two. What about you?
I have an idea. Australia could keep the same governmental system with one simple change, do the _exact opposite_ to every decision they come up with. We would be in a _far_ better position both now and moving forward.
I usually ignore government regulations, and just do whatever works. It works for me.
The gonernment not incompetent, it's malevolent.
If they were merely incompetent chanel alone dictates they'd get things right 50% of the time.
sounds like a job for D.O.G.E.
Thanks,LvO. Heaven forbid the UniParty will drastically cut immigration & tax the resource multinationals properly! The future looks grim.
The surpluses are largely due to record high tax revenues from the resource industry , which pays more tax than all the other industries combined.
This includes Australian based miners like BHP ,RIO and Woodside as well as multi national foreign based companies like Glencore and Chevron.
She'll be right mate, we still have lots of gold and iron ore etc in the ground, plus we are young and free (so far). Ban negative gearing.
Pathetic management by the Federal government. The US just learned what happens when the government says the economy is going great, and the people know it isnt. In Australia it feels like a deep recession.
It's going to get much worse.
Deep recession? Unemployment is at 4.1% 😂 This is an inflation led economy, not a deep recession. We may get a recession in the future but we haven't started seeing that yet.
You'll know we're in a deep recession when those unemployment numbers get into double digits. But right now it's still difficult to find people to work, which is holding back productivity. Meanwhile there are 15K more lawyers graduating per year than we need because government caps on university placements to align graduates with demand were removed under Rudd.
@tjmarx It's a per capita recession. GDP per person has fallen steeply for years. Immigration is responsible. Low unemployment...but have you noticed how hard it is to get a new job?
@keepitreal2902 It's not difficult to get a new job. I'm an employer. My wife is an employer at a separate company. Most of our friends are employers. Across different industries. Everyone is complaining that finding qualified staff is ridiculously hard. My wife hired for an entry level administration position recently, this was literally a no prior experience necessary role and advertised as such. Excluding the people who couldn't speak English fluently (one of the very few hiring criteria the role had) she had 5 people apply. FIVE! That was less than 4 weeks ago. Job listed on seek, indeed, linkedin, all the normals. 5 actual candidates.
When you do hire someone, they want a salary far beyond the award and definitely beyond the value they bring. Half the time they then come in and are unproductive. So you're essentially just pouring money down the drain.
Everyone is trying to be in the 1% and very few people are ok with being in tje 99%. Hopefully you can see where this might go wrong. It's completely destabilised the economy.
There's no such thing as a per capita recession. That's bunk. We're in a high inflationary environment with a CPI out of step with the market due to in part artificial demand caused by immigration (both foreign and importantly post covid mass internal migration). But the biggest drivers of this environment are yankville destablising the entire western economy by printing ridiculous amounts of money (and trump won't stop this), and our government following suit. Both of these things devalue the AUD and drive up CPI. This only benefits the elites which is why they're doing it.
Labor use Smoke and mirrors to talk up their economic management
They are doing what the Democrats did in the US and will suffer the same fate.
@@kathyjova98
🤞🏻🤞🏻
Both sides do. The politicians are traitors to everyday Australians
Like the other side of the same coin was any different.
The downfall started with Howard.
Be nice to buy a $4m water side apartment and get the tax payers to pay for the roads up to it to get fixed, for retirement.
Great overview of an otherwise dire situation - serious rethink on behalf of the political class is needed quickly otherwise we are seriously risking becoming a failed state in the coming years
Could a government be as foolish as our current lot, or is it incompetence driven by ideology, or, more likely, sheer malevolence!?
I’d say at least 80% is driven by ideology and brainwashed ignorance. 🤪
It is driven by the electorate
It is driven by the millions of votes that they keep getting at every election. That is a huge stamp of approval for them. They see no reason to change.
Love your work sir, a breath of sanity during such a depressing government period. These guys are the worst we’ve had trying to run this country in my 68 years on the planet. Absolute bunch of idiots ruining the country. 😡
@@davidwynne3289 on steroids.
But somehow they were about to convince millions of very smart citizens to v0te for them. How does that work?
We've imported 2 1/2 million p@jeets in a year. What could go wrong?
I wonder whether there has been an increase in car accidents
@iluvyunie 💯
@@iluvyunie Road deaths are up, against a 30-year downtrend.
Im not a fan of the Liberals but it seems wherever we have Left-wing governments rule (Now Labour in Australia) our economy tanks, we are over-taxed, and control of speech/internet/freedom is reduced. We are all tired of it.
Australian banks profit more than anywhere else in the world.
Woolworths and coles profit more than Australian banks
Yes , it's called capitalism.
And the majority shareholder of all of those is vanguard
The CEO's from all above recieve approximately $2,000,000 in shares each year they are in office and that pays them dividends of approximately $100,000 per year. That is on top of their salary. They claim to seek massive profits for their shareholders and superfunds. Not many individuals recieve that amount from the super funds even on retirement. Who holds the most shares and voting rights to grant them even more renumerations each year? Go figure.
The only thing this channel is missing is actual debates
The ndis is an absolute joke and government needs a FULL AUDIT. Disgusting
So many women on that way .... good luck
Include the 40B a year aborginal in another audit
Very good presentation thank you compulsory listening
That happened the moment we let albo in power with 33% and Will get the Same from LIBS and green's vote one nation and don't let them tell you they only got 7% 😅
It's no better under the wackos either. What we need is a coordinated vote for independents. If we can manage to get just 38 independents elected out of 151 seats would utterly destroy the party system and force power back into the hands of the electorate where it belongs. Just 38 seats need to coordinate to elect an independent. Just 38. It's absurd how small the number is and yet we haven't done it.
We need to start to move back into manufacturing products of value and sell them. Rather than relying on mining and excess immigration.
Energy is now too expensive (due to the net zero war on fossil fuels ) , to make it economically viable...manufacturers are moving to the USA where energy is one third to one half the cost of what it is here.
@@Leo555ZZZ I agree. Part of this must be a new energy policy that puts the people and industry ahead of any ideology.
Doesn't Australia rely on immigration to keep the housing ponzi propped up?
Bring back all furniture manufacturing. Australia is one of the highest importers of furniture in the world. Jobs for upholsterers, cabinet makers and wood machinists. Apprenticeships for our young people. When I see furniture items in retail outlets with a 90% mark-up there is something wrong and tariffs should be applied.
Australia could never compete with the cheap labour they are taking advantage of from overseas industries.
Bring on the crash. Put the cash rate at 7.5% and let's see who floats
Young people drown and old people have more cash to spend on cruises.
@williamm1624 this lmao
The idiots that caused this would be fine
Did you know, Jodie is a proud Coastie, she’s a proud coastie 🥴
😂😂😂😂👍❤️
On the north coast....I have never heard anyone call themselves a "coastie" .Another disastrous and silly attempt to connect with "ordinary people"
Australia has been screwed since the 70's , thanks Gough .
Sorry but you can't blame that on Whitlam. It was the Frazier government that ratified the Lima Declaration and was signed by Senator Willesee. That spelled disaster for Australia. Jack Boot Johnny was no better.
Thank Bob Hawk, our drunken former prime minister.
Men more specifically have been screwed since the 70’S Whitlam gave us the No Fault Clause (1975)
Yeah, Gough did so much damage.
If only they knew what the grub did.
Gough gave us the No Fault Clause (1975) Men have been getting screwed ever since
Most taxpayers are doing O. K. , the trouble is that most taxpayers rely on either a government wage or government spending, It is not sustainable.
Lowering rates does not fix the Economy. It will increase inflation even more. Why do we need to pay tax when we print money 🤦♀️
Thanks Leith questions if I may not sure if you respond on YT but love your work
1. Why is the Ukraine/Russian war impacting resources outside Gas? As far as I knew Gas was the one resource Russia was a big supplier of but iron ore and coal not understanding.
2 what’s causing the forecasted decrease in demand for our coal/iron materials?
Whilst Ukraine's neighboring countries still enjoy gas prices at a fraction of the Aussie cost.
The price of all commodities bloomed after the war. But they rose most for energy (coal and gas).
The iron ore price is now falling due to waning Chinese demand. The great 25 year building boom in China is running out of steam.
Trump's tariffs would worsen the situation as it would lower demand for Chinese made goods.
@@Leithvo thanks mate much appreciate keep up the work ! The people respect those that aren’t afraid to go against the grain even if it means they won’t get invited to the “functions” where all that do say they care about the people while winking at one another
Possibly Australians need a good economic whack in order to wake them up to the realities of life. I am an age pensioner and don't know what to do with all of the bribes that the government keep on paying to me.
What’s the point of trying to stick to an annual budget when our current deficit is now over $2 Trillion AUD..? 🤦🏻
They’re also going for higher tax on super
Super has been chewed up by inflation and the fact that you are taxed with no account for inflation on any earnings.
@@berniestar1490 there’s a 33% discount for capital gains, which is accounting for inflation somewhat but still probably taxing inflation on most super accounts.
High income earners pay 30% contributions tax instead of 15%, and there’s a max super amount of $30k this financial year. So it’s not like high income earners are getting 12% when it maxes at $30k.
Most of today’s 15 year olds will have $3m in their super when they’re 65 (low cost fund that has options to invest in index funds and SP500 makes up 50% at least). Income from super of $3m value gets taxed at 30% now. The government dangled the ‘top 1%’ line. They don’t seem to understand compound growth. Or maybe they do. But it means most young Australians will be paying up to 30% progressive tax on the income based on the value of the super fund, not the income.
They tax less on income with bracket adjustments but tax more on the way out in retirement.
Super should be scrapped. It is a gravy train for fees for big super and higher incomes benefit more than lower incomes due to its taxation. We are better off without it. It has been in place for 30 years with no meaningful change in the number of people requiring the pension.
you know im still expecting the masses of Australians to start screaming for lower rates and more stimulus.
Makes two of us. I am expecting stimulus like energy rebates.
@mattrodger7097 arnt they doing that to try bluff the rba in order to lower rates? I was reading something about that few months ago.
@@adiintel1 yes, they are and the RBA is not falling for it.
I hear all these negative indicators and understand. What I don't hear is a viable solution to the housing, energy and cost of living pressures that was lit by the coalition and fueled by the LiberalLite Albanese govt. (yep - this didn't just happen overnight). Dwelling approvals plummeted under the coalition in the 3 years before covid....There is NO WAY that the coalition solves any of these issues with the currently elected backward looking membership.
Both sides run similarly dumb policies. But Labor unfortunately chose to go full idiot on immigration, which made everything regarding housing much worse.
Exactly, neither will deliver the deep and painful structural change the country needs
The States are building mining camps/lockdown camps as we speak. Back to our pioneering ancestors in the gold rush we go!
Australia's luck has run out before.
In fact, Australia has reinvented herself several times in the past with rapid industrialisation during the 1930s to address the impact of the Great Depression, WWII industrialisation to address shortages, post war reconstruction, the end of Commonwealth trade preference in the 60s and 70s with the UK applying to join the EEC, trade with Japan, Hawke/Keating/Howard Costello deregulation of the 80s and 90s, Japan diversifying her suppliers in the 90s, trade with China in the 2000s and the end of the China trade monopoly with the Covid logistics crisis.
It is nothing new.
Communism never works, and Albo has proven that.
Australia was white then. It's 35% first generation mostly Indian with a billion more that want to come over through chain migration. You could only guess at the anglo population because the government would never release it. When we had problems it the past we had social cohesion. Multiculturalism doesn't work and we are about to see the result of people from different cultures fighting over the scraps.
House boom at record prices, Government made a lot of Money off stamp duty taxes
You forgot to put an S on the word government! Did you forget that the Libtards were in for 9 years lol?
Gravy Train 101 ,
ask Paul K
Dun worry house price will make historical high
We are such a rich country in resources. We could really be a powerhouse.Like the UAE. Energy dominance. National Economy would be amazing, National debt could be zero. But no.we are becoming a third world tyrannical controlled country by foreign NGO’s❤️
Apparently the clowns want to raid the future fund,
What's the difference between an ignorant feral and the labour party.... No difference both cannot manage money or plan for the future.
They not too smart these overpaid muppets embarrassing they are.
thanks leith learning a lot but yeah it's looking dire
The economy is running like a supercharged Camira. 😂Lol.
Gotta raise the GST.
What is it they can't face?
🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥
Just put GST up to 40 % so corporations don't need to pay tax.
Don't give away the good ideas
Dissolve the RBA and you won’t need to tax the people
@@thisthattheother7541rba don't tx people governments do
@@philmelb1022 with respect that is wrong. The RBA is a private corporation that loans money to our government to with interest attached. Our currency is backed by debt and is not sovereign. Government taxes us to pay back the central banks. Could go on but that is the jist.
@@thisthattheother7541does the government not choose to take the loans? How does the central bank force the government to enter into the loan contracts that force them to tax the people to pay the RBA back?
"About to"
Ha
terrible AI image
Leithvo with his usual pro Coalition take again
The Coalition already had us in record debt prior to covid and wasted the most amount of money on any side of government in Australian history dwarfing anything the current government has spent in it's time but I love how Leith tries to potshot Chalmers on this one.
Beyond idiotic
Then we have the headline reading luck is about to the end - leith our luck ran out a decade ago, structural deficiencies where already in play well before the current Labor government and now we have a coaltion pretending they didn't give us this complete sh/theap we are in.
Gaslighting only gets you so far.
You are wrong about Ndis.
How?
Providers from. Oct23 have to submit ALL expenditure receipts. They Must be registered with ASIC. All plans have been revised down to annual or bi annual assessments. I spoke to my LAC who stared that the Ndia has already noticed a hughe reduction in claims and have already begun charging offenders who tried to rort the system. Every participant must medically qualify for continued support. This support has been slashed to clients in dollar terms. LAC offices have been closed and are managed only in main hubs eg. Bendigo. People down get squat without medical evidence.
I replied an you deleted.
Please explain!
Maybe the $100 billion per year prediction is closer to being in 5 years than 10
Multiculturalism
Leith the stock market is red hot, hitting new highs when everyone is screaming poor. What is going on? You think the big boys are getting ready to pull the rug out?
Crash inevitable, timed to do maximum damage to Trump my guess April- June 25
@ something has to happen. We’ve never been so broke, 1000’s of businesses closing down, yet the ASX approaching 8500.
It was 4000ish during the GFC, and I don’t remember people doing it this tough back then.
Their cashflow has increased proportionately (industrial Aussie shares, and Macquarie bank) due to inflation. So their prices are largely in line.
Aussie market is banking and mining that drive ASX though.
Yet cash positive with no debt company share prices are going to zero. WTF is going on?
Look at national debt. There is no way there isn't a crash or at least hyper inflation. We are fucked big time. Not just here in aus either.
Just tried to get a coffee at Noosa Heads know parking and 3 to 12 million dollar property’s Australia has gone to the dogs unaffordable for even middle class very sad to see 🫣🥲🥹😱
I’m doing the TRUMP
The luck of any nation who still has their wagon hitched to the JEWSA is indeed all over.