Do we really need a tax cut? - Page 2

xelasnave · #21 22-01-2008, 07:04 PM

I no longer have to look at the day to day market..I realised months ago it was so sick many deaths were inevitable... I said so..in a thread by pointing the US market depends on rate drops..well with the rate so low they can not drop it as far as it has to go..the last time they had this situation they had some range in the order of 10 they could drop over years now they have only a few percent they need to drop over months... pretty simple approach on my part but that is the way I see it.

The sheer surplus of money to throw into the exchange has left folk not understanding what a decent investment is...how can one class a share that gives a dividend of 1% good??..fools say well it is going to go up capital gain and all that... well capitalisation of the rturns say most shares are worth about 25% of their listed value in my book... the market is crazy it runs on gambling principles not investment principles...

To me one needs a decent income return and the promise of capital gain to keep with inflation... this was once the way of it but now shares go up if next year so and so may make a deal in which they may make money...
Apple announced a new ipod..shares up... will it make money ..who knows who cares just buy some shares ... mob driven capital gains are always doomed .....

Look back at Amozon at one stage someone figured if they had a monopoly on book sales world wide and sold every book in the world their shares were still many many fold over their listed price... still their shares went up higher ..so the market culles those with more money than sence.

The folk who move your money around dont see it the way I do no doubt... but they are really not interested in you they are interested in a commission nothing more ..thats life.

alex

xelasnave · #22 22-01-2008, 07:17 PM

Anyways as to the original question ..yes if course we each personally do..it is our money...when the concept of GTS or VAt or whatever it started life as was a mere seed of economic idealism it was presented as a tax that would see all other tax abolished..yeh is that what we got...nope...
And as much as Pauline was maligned the thing that really brought her down was the economic platform that was hidden quickly by the racial jazz...they worked out that a simple 2% turnover tax would see all income tax un necessary..but "those" who would loose in that arrangement..I never really could understand who "those" were... must have had some pull...Politicians who were more racially pred than her all of a sudden jumped on her dangling from strings from who knows where...and from both sides no less ..how strange..do you really thinj they gave a ratz about her ratial thing???
alex

kljucd1 (Daniel) · #23 22-01-2008, 07:20 PM

Hi,

I earned my pay so I want to keep it...simple. Mind you I am happy to pay out for most Government services and am happy to help support people, who are actually in need.

I also haven't borrowed beyond my means and then thrown a couple of credit cards in on top of it all, so I am not particularly interested in interest rates.

Regards

Daniel...

xelasnave · #24 22-01-2008, 07:23 PM

Never a borrower or lender be...
alex

mick pinner · #25 22-01-2008, 07:25 PM

that may be a saying in fantasy land but try applying it to the real world.

xelasnave · #26 22-01-2008, 07:35 PM

Quote:

Originally Posted by mick pinner

that may be a saying in fantasy land but try applying it to the real world.

I have

dont owe a cent and wont lend $5 to a dying relative....
I was the biggest borrower I knew once... part signatory to 2 million back in the 80,s...but now no way... If I dont have the cash I dont get it..even if that means walking and living in a hole in the ground and eating boiled rice ...but life is so much better you would not believe.

alex

mick pinner · #27 22-01-2008, 07:51 PM

l'm sure your world works for you Alex and l'm glad it does however applying your previous quote would mean no one would own a house or be able to drive the economy the way it needs. to adopt the quote once we no longer have a need for borrowing somehow shows disdain for those that still do. some people do fall on hard times and l for one am glad if the situation arises that l have a family to rely on and them on me.

mark3d · #28 22-01-2008, 08:11 PM

Quote:

Originally Posted by xelasnave

Apple announced a new ipod..shares up... will it make money ..who knows who cares just buy some shares ...

interesting thing i read the other day; when ipods first came out if instead of buying one you spent the same on apple shares they would be worth $10,000 now

xelasnave · #29 22-01-2008, 08:15 PM

No distain here Mick and I only got to this point a couple of years ago... by good luck after a life time of trying... and I live in a shack ..no fridge, no floor coverings ..nothing like most folk.. outside bathroom very primative.. If I borrowed $100,000 I could fix it but I have made my choices the way I have and although it is hard it is not impossible... and after a while you dont miss what most call necessities...

If you sold me up there is no fortune thats for sure.

Still I do feel many are talked into debt past what they need and can afford when if they could just hold on and move past that time things could be better ..
AND I am probably not as tuff on family or friends in need as I make out I guess.
I dont think many would swap places with me really as they would be going backwards in most cases
alex

xelasnave · #30 22-01-2008, 08:18 PM

Quote:

Originally Posted by mark3d

interesting thing i read the other day; when ipods first came out if instead of buying one you spent the same on apple shares they would be worth $10,000 now

If that does not provide a case for crazy I dont know what does

alex

duncan · #31 22-01-2008, 08:21 PM

Give me a tax cut!. I've given up all hope of ever owning my own home.
Average price up here is almost $400K. Rents average $300/wk. It is a national disgrace. Maybe if interest rates go through the roof there will be more rental properties and prices will come down accordingly, maybe/maybe not. But in the meantime i'm struggling as are a lot of others.
When i hear what bank CEO's are getting and what the Pollies are getting it makes ya wanna puke!!!!

So share it around and give us low to middle income earners a decent break for once. Not a piddly $10/wk.
Sorry for the rant.

mark3d · #32 22-01-2008, 08:31 PM

first the money for the tax cuts isnt even real yet.. its future revenue projections.. based on things like migrant workers not taking their superannuation with them etc. so who knows how much there will be.

i wonder whether the tax cuts were ever a serious proposition or instead just the election campaign ante. the liberals knew for a year they were going to lose so the tax cuts was a gamble - it could have got them back into office in which case they would have worried about them later, if not it would always be guaranteed ammunition for next election.

with economies of scale 1 x $30bn buys a hell of a lot more than 20 million x $1500. $30bn buys serious infrastructure - imagine that spent on alternative energy implementation. compared to 20 million plasma tvs - which will just be 20 million piles of junk in a decade.

lets skip the tax cuts.

xelasnave · #33 22-01-2008, 08:38 PM

Quote:

Originally Posted by duncan

Give me a tax cut!. I've given up all hope of ever owning my own home.
Average price up here is almost $400K. Rents average $300/wk. It is a national disgrace. Maybe if interest rates go through the roof there will be more rental properties and prices will come down accordingly, maybe/maybe not. But in the meantime i'm struggling as are a lot of others.
When i hear what bank CEO's are getting and what the Pollies are getting it makes ya wanna puke!!!!

So share it around and give us low to middle income earners a decent break for once. Not a piddly $10/wk.
Sorry for the rant.

Get ready to buy Duncan the time is approaching where you may see the opposite to what has gone on for so long unchecked...good luck mate

alex

xelasnave · #34 22-01-2008, 08:40 PM

Quote:

Originally Posted by mark3d

first the money for the tax cuts isnt even real yet.. its future revenue projections.. based on things like migrant workers not taking their superannuation with them etc. so who knows how much there will be.

i wonder whether the tax cuts were ever a serious proposition or instead just the election campaign ante. the liberals knew for a year they were going to lose so the tax cuts was a gamble - it could have got them back into office in which case they would have worried about them later, if not it would always be guaranteed ammunition for next election.

with economies of scale 1 x $30bn buys a hell of a lot more than 20 million x $1500. $30bn buys serious infrastructure - imagine that spent on alternative energy implementation. compared to 20 million plasma tvs - which will just be 20 million piles of junk in a decade.

lets skip the tax cuts.

Does the term buying votes mean anything to you...
alex

duncan · #35 22-01-2008, 08:41 PM

HeHeHeHe! Thanks Alex. Your comments always brighten up my evenings. Specially with all this Damn cloud around.
Cheers

xelasnave · #36 22-01-2008, 08:51 PM

Quote:

Originally Posted by duncan

HeHeHeHe! Thanks Alex. Your comments always brighten up my evenings. Specially with all this Damn cloud around.
Cheers

Mate that makes me more happy than you know...
but seriously once I used to make my money buying when everyone was selling... and for the first time in over a decade I have started looking for something... buy when ther eis blood in the streets I have here it said and there is a message there I feel... if all these billions are being lost and forclosures everywhere you will have a chance I feel... buy some land even if you dont live on it if you can because it will go up again...my first house was $10,000 (1968) and I can remember saying to a mate one day it will be worth double ..he thought I was mad..well it went up a little more than that.
alex

duncan · #37 22-01-2008, 08:58 PM

Yeah Alex. I'm just waiting for my work to start up again up Weipa way. Couple of months work and i might look at some shares and then some land.
Land with clear skies (oh how i wish)LMHO

Cheers

mick pinner · #38 22-01-2008, 08:58 PM

we are by the sound of it a lot alike Alex, although l could not become as minimalist as you the last two houses l have bought have been smaller than the previous not bigger, certainly against the norm.
as we get older Sue and l find we need less and less but appreciate what we keep so much more

Miaplacidus (Brian) · #39 22-01-2008, 09:11 PM

(Way to start a cool thread, David.)

xelasnave · #40 22-01-2008, 09:22 PM

Quote:

Originally Posted by mick pinner

we are by the sound of it a lot alike Alex, although l could not become as minimalist as you the last two houses l have bought have been smaller than the previous not bigger, certainly against the norm.
as we get older Sue and l find we need less and less but appreciate what we keep so much more

As you probably know I was a real estate agent
..the way it goes a couple start with a small flat, then get a small house, have kids, the a bigger house with the rumpus and maybe the pool for the kids..are there for a short time.. the kids leave so they get a smaller house then finally go back to the small flat,

I lost pretty well everything in the last bush fire..which got me into minimal over night..and then when the wife left I found I could live like a homeless man... real meals were a drag ...I cook more for the dogs than me...
But the good thing with the fire I got so depressed my Son bought me a scope which I would not have accepted if I had not been down and out...

But as you get older ..at least I find..you dont need so much stuff..you only have to clean it maintain it etc..and fashion? why bother that is only to impress girls and I dont need that in my life... simple is not bad for me anyways.

alex