This morass is explanatory of what is meant by the debunked #neoLiberal idea that markets know best.

The international Dutch corporation Trafigura, an independent commodity trading and supply chain logistics company which is the sole parent company of Nyrstar's Hobart and Port Pirie (another Dutch entity) is for one reason or another — though I can guess it involves, shareholders profits, executive salaries and bonuses as well and investments in more profitable ventures — is in need of Autralian public funds cash injections in its two Australian based smelters. Ostensibly because the parent company cannot secure private investments to keep those smelters going as profitable ventures. Of course, this has nothing to do with the skipping on maintenance and reinvestments (aka #Productivity) required to keep these smelters viable in the markets that apparently know best. ‘Bugger the workers, bugger the equipment, bugger the lot as long as we’ve drained the coffers and repatriated the profits’, that’d be my uneducated guess, forgive my cynicism.

“Governments are selling the [second] package as hard-headed industrial policy designed to keep regional workers employed and give Australia more control over the critical minerals supply chains it relies on.” More control… as if… whose controling whom?

Seeing as we know where this is going, our govt(s) might as well #Nationalise these smelters given we’re already throwing our money down someone else’s pocket overseas.

Bottom line is, Neoliberalism is sucking us dry to the benefit of a few, not even Australians. #EatTheRich #TaxTheRich

https://www.kyfreepress.com.au/national/funding-lifeline-saves-smelters-more-than-1000-jobs/

#AusPol #ReIndustrialisation #IndustrialPolicy #GovtBailouts #TaxPayerMoney #FeedingTheRich #MilkingIndustrialCows #Smelters #Refineries #InternationalCorporations #TaxDogers #TaxLoopholes #TaxReform

Albo gets emotional defending tax changes and honestly, same

https://worldbriefly.news/albo-gets-emotional-defending-tax-changes-and-honestly-same

#AustralianPolitics #TaxReform #AlbaneseGovernment

[edited to correct an grevious error]

I normally pay attention to #AlanKohler but I don’t always agree with him. In this article he tackle #Productivity and #AffordableHousing.

On productivity Kohler links #Wages with #Inflation to explain low productivity. WTF. That’s as close to #NeoLiberalEconomics as you can get and that old horse was put to pasture in 2008 (though it’s hanging around with a bad smell that every politicians and most economist fail to apprehend). Furthermore, you cannot ask workers to work harder for more hours with less pay just to increase productivity. That is not how it’s supposed to work. Capital investments in production processes and tooling are necessary to improve productivity. That is, cutting profits to re-invest — which of course runs counter to #NeoLiberalism and the #TrickleDownEconomic model the #Grifters have been peddling for the last 40 years or so.

When talking about #housing and #construction the only thing Kohler says that makes sence is that the only way to beat the current economic set up is to build housing that does not require private capital investment (because that requires a 6% pa return which goes to feed the crazy spiraling house prices, aka the #SpeculativeRealEstate markets). To do this, public funds must be used to build houses which requires #TaxReform to fund properly from federal revenues. There are other ways to do this of course. Like Community not-for-profit housing, as done in parts of Europe, through verious public funding models and favouring tax regimes. But when Kohler ties Immigration to housing shortages, he cuts corners and cherry picks. For example, immigrant families are generally bigger than Australia’s average of 2.57 per household (Source: ABS.gov.au), my family certainly was. Yet Kohler use the 2.5 adult per household figure to calculate the immigration demand on housing without differentiating between #NetImmigration and overall immigration numbers (wich include seasonal workers, international students, working holiday backpackers, ect.). This kind of data (mis)use goes some ways to discredit the validity of Kohler’s proposition and diminish the strength of his argument.

You can read the article here for yourself, but it does point out that even a well regarded economic analyst is prone to tailor their words to reflect their political and econmic hobby horses. Read it by all means, but don’t swallow anything until you’ve chewed the cud for a time. We are thinking beings, put your innate #CriticalThinkingSkills to good use in whatever you read (especially these days). Even when missing information and knowledge, think about what you hear/read/see before it goes to a change/shore up your opinion. Work in progress as always.

https://www.abc.net.au/news/2025-03-31/federal-election-housing-productivity-bandaid-solutions-budget/105098402

A short peek at historical evidence which show that pointing the finger at #Boomers is nothing but an echo of today’s anger and frustration at the growing rise in #WealthInequity since the early 80s:

“The 1970s: Boomers enter the labour market

In the 1970s the unemployment rate quickly doubled as the huge Baby Boomer generation (born 1946-63) entered the workforce. This surge in labour supply increased competition for jobs, drove down wages, and the unemployment rate saw post war highs. The macroeconomic environment was tough too. Global oil shocks and ensuing stagflation meant that economies around the world were hit by rising costs and slower growth.

Geopolitical uncertainty and shifts in industrial policy further muddied the waters. The result was a labour market that was no longer able to keep pace with the surging numbers of job seekers – a trend that set the stage for economic restructuring in the years to follow.” (Source: https://www.indailysa.com.au/news/opinion/2025/03/31/stats-guy-australia-since-1966 )

I have lived experience of those high unemployment and economic shock years. Not pleasant memories.

#AusPol #EatTheRIch #TaxReform #JoinYourUnion #Unionism
#Antifa #RedistributeWealthNow #TaxTheRich #GasProfitTaxNow

When the super rich campaign against tax reform you know it’s doing something right. Follow the money.

#AusPol #governance #TaxReform #timidity #FollowTheMoney #plunder

https://www.theguardian.com/australia-news/2026/may/29/wealthy-australians-leading-fight-against-cgt-changes-tax-reform-capital-gains?CMP=Share_iOSApp_Other

The Abuja Chamber of Commerce and Industry (ACCI) has urged government to suspend penalties on late tax filings until business owners adjust and fully understand new tax laws and systems.

https://dmarketforces.com/tax-reforms-acci-urges-2-year-grace-period-on-tax-penalties/

#ACCI #TaxReform

Tax expenditures total over $1.5T annually, but the 401(k) exclusion sends 60% of benefits to the top 10% of earners. Capital gains are taxed at 20% while wages hit 37%. The state built a welfare system with two entrances: one at front with means test, one at back with accountant and handshake.

https://readuncut.com/the-state-changed-clients-but-not-its-size/
#TaxShelters #RetirementPolicy #TaxExpenditure #PolicyCapture #WealthInequality #TaxReform

Opinion Voices | Contributor: Why billionaires shouldn't fuss over the wealth tax by Stephen Land

AI generated summary, Read the full article for complete information.

Billionaires and their allies are launching a fierce campaign against California’s proposed one‑time 5 % wealth tax on net worth over $1 billion, arguing that the measure is poorly designed, costly to administer, and would have little impact on the rapid growth of massive fortunes that benefit from untaxed “unrealized gains.” The article explains that while ordinary workers pay roughly 40 % of their earnings in federal, state and payroll taxes, billionaires can let appreciated assets swell without ever triggering income tax, effectively paying zero on most of their wealth. A genuine wealth tax would treat that appreciation like ordinary income, recapturing a large share of the revenue already lost to the public treasury and reducing the outsized political influence that billionaires fund through massive lobbying. It also notes that a modest 5 % levy would barely dent fortunes built on untaxed gains and calls for broader reforms—such as a federal Billionaire Minimum Income Tax and similar state initiatives—to address systemic inequality and ensure the ultra‑wealthy contribute at rates comparable to everyone else.

Read more: https://www.latimes.com/opinion/story/2026-05-23/why-billionaires-shouldnt-fuss-over-wealth-tax

#WealthTax #UnrealizedGains #BillionaireTax #TaxReform #EconomicInequality