That was one of your best of many great pieces. didn't see where the story was going, completely engrossed in your dive into your personal history, the oddly just out of contemporary references with the Indiana Jones analogy. Then bang, as you have quipped before, just as the narrative reached a slow point you have the equivalent of a "thug burst through the door with a gun". Brilliant stuff, bravo.
The thing that impresses me most about it is that the changes collect more revenue than the original stage 3 cuts, blunting the argument that the changes are more inflationary because those on >$200k save more than those on lower salaries.
The sheer size of the tax take has a first order impact on inflation whereas who exactly gets slugged for it is secondary. So deliberately not holding the total tax take constant is a master stroke. So any time Taylor, Dutton or Ley try to argue these changes will put upward pressure on inflation and interest rates, Albo and Chalmers can point out that the quantum of tax collected under these changes will be greater, ie it’s a tightening of fiscal policy, which last time anyone checked, takes the pressure off the need to tighten monetary policy.
Between that and the 7 winners for every loser, it’s brilliant.
Plus it’s harder to take money away once it’s flowing to those 7 winners, as will be the case by the time the next election rolls around.
And three of seven losers approve, meaning they're winners too. Wasn't hard for anyone who thinks to figure that one out. When I was childless and earning plenty, I completely supported increased education spending from income tax (although, not happy now with where that too much of that money goes and does not go).
The Conservatives don't get that many of us are conservative about hanging onto hard-won good stuff. Their conservatism is some decayed thing, "my precious!"
Bravo JB! Victory Snatched from the Jaws of Defeat. Susssssan Ley's headless squawk chicken dance - so true to her gabbling nonsense style. Thank-you for the tale and the final point.
Best thing albo has done so far! Look at how stuffed the coalition is in their attempts to cry ' but the disgustingly rich will . . . um ' . Watch the people wake up to the ridiculousness of the attempts to cry ' but he promised! ' 🤣🤣
We don't often get to witness political genius, but perhaps we just might have. They (Albo and Chalmers) must have been stage-managing that moment since the election (all of their implausibly emphatic denials look like buildup, in retrospect), waiting for just the right level of economic seriousness to justify it.
There's a nice, serious-economics article in The Conversation today, countering the two serious-sounding arguments that Costello and his ilk have raised. "Wrong" was the term used to describe them.
Very difficult to take any complaints from the well remunerated seriously when they're _still_ getting the largest tax cut.
I fear you’re giving Albo and Chalmers far too much Machiavellian credit for something that seemed driven more by desperation than genius, however excellent the outcome 😊
I don't think so. I think they've been hatching this from the get-go, right down to the early return to Canberra (and the extra work for the Com. car drivers that Sussssan hissed about). No early hints of its development because that'd give media lackeys and Spud too much time to corrupt it, like they did with the Voice Referendum.
The rich mostly run family trusts like the faaarmers, As a consequence everything is a tax write off and everyone in the family draws a minimum salary (on paper) so they already only pay minimum tax. That group would include Waleed Ali and his missus, they complain but are talking a load of shit.
Pushing the cartoon references, I can imagine Josh and ScoMo giggling while they stick the lit long fuse into the dynamite charge but Albo and co have tied string or some such to the time bomb and the plotters drag it back to their lair. A singed Spud, Good Job Angus and Suss blink, blackened faces, collars and cuffs remain post blast. Delicious
Masterclass in story telling there JB. Had no idea where it was going. Then when you did the reveal, and the short section on Albo’s swift move was super poignant despite being much shorter than the set up.
Might share this with the younglings I teach.
Also yeah it was good move. I hope Labor in general learns from this.
Best analogies in the story of the creative thinker who snookered his bosses, as well as in the hero who thwarted his enemies. Thanks for that, JB. Made my day.
A great pity the mainstream media didn't read this piece before rushing off to print feverish stories of an early election & how Albo could never be trusted again! Angus, Susan & Spud looked blindsided to me!
That was one of your best of many great pieces. didn't see where the story was going, completely engrossed in your dive into your personal history, the oddly just out of contemporary references with the Indiana Jones analogy. Then bang, as you have quipped before, just as the narrative reached a slow point you have the equivalent of a "thug burst through the door with a gun". Brilliant stuff, bravo.
Cheers Guv. Been sitting on that one for a long time.
Worth the wait. As was Albo’s convulsive leap.
The thing that impresses me most about it is that the changes collect more revenue than the original stage 3 cuts, blunting the argument that the changes are more inflationary because those on >$200k save more than those on lower salaries.
The sheer size of the tax take has a first order impact on inflation whereas who exactly gets slugged for it is secondary. So deliberately not holding the total tax take constant is a master stroke. So any time Taylor, Dutton or Ley try to argue these changes will put upward pressure on inflation and interest rates, Albo and Chalmers can point out that the quantum of tax collected under these changes will be greater, ie it’s a tightening of fiscal policy, which last time anyone checked, takes the pressure off the need to tighten monetary policy.
Between that and the 7 winners for every loser, it’s brilliant.
Plus it’s harder to take money away once it’s flowing to those 7 winners, as will be the case by the time the next election rolls around.
It is pure jujitsu
And three of seven losers approve, meaning they're winners too. Wasn't hard for anyone who thinks to figure that one out. When I was childless and earning plenty, I completely supported increased education spending from income tax (although, not happy now with where that too much of that money goes and does not go).
The Conservatives don't get that many of us are conservative about hanging onto hard-won good stuff. Their conservatism is some decayed thing, "my precious!"
Well worth the wait.
Bravo JB! Victory Snatched from the Jaws of Defeat. Susssssan Ley's headless squawk chicken dance - so true to her gabbling nonsense style. Thank-you for the tale and the final point.
Best thing albo has done so far! Look at how stuffed the coalition is in their attempts to cry ' but the disgustingly rich will . . . um ' . Watch the people wake up to the ridiculousness of the attempts to cry ' but he promised! ' 🤣🤣
Yeah that’s gonna be a tough sell for the Horror Spud.
Terriffic story, thanks!
We don't often get to witness political genius, but perhaps we just might have. They (Albo and Chalmers) must have been stage-managing that moment since the election (all of their implausibly emphatic denials look like buildup, in retrospect), waiting for just the right level of economic seriousness to justify it.
There's a nice, serious-economics article in The Conversation today, countering the two serious-sounding arguments that Costello and his ilk have raised. "Wrong" was the term used to describe them.
Very difficult to take any complaints from the well remunerated seriously when they're _still_ getting the largest tax cut.
I fear you’re giving Albo and Chalmers far too much Machiavellian credit for something that seemed driven more by desperation than genius, however excellent the outcome 😊
I don't think so. I think they've been hatching this from the get-go, right down to the early return to Canberra (and the extra work for the Com. car drivers that Sussssan hissed about). No early hints of its development because that'd give media lackeys and Spud too much time to corrupt it, like they did with the Voice Referendum.
The Opposition is snookered!
Albanese always had a plan...
Probably not your intention, but also works as a timely reminder of the importance of creatives (after 2023 Hollywood strikes etc)
The rich mostly run family trusts like the faaarmers, As a consequence everything is a tax write off and everyone in the family draws a minimum salary (on paper) so they already only pay minimum tax. That group would include Waleed Ali and his missus, they complain but are talking a load of shit.
Yes, the congenital idiot that is "SuSSan" Ley. Apparently the third 'S' is important for the Feng Shui. 🤣
Pushing the cartoon references, I can imagine Josh and ScoMo giggling while they stick the lit long fuse into the dynamite charge but Albo and co have tied string or some such to the time bomb and the plotters drag it back to their lair. A singed Spud, Good Job Angus and Suss blink, blackened faces, collars and cuffs remain post blast. Delicious
But did you make to end of the 12 months without caving in to the booze? :)
Made all 12 months. Lost 4kgs.
Masterclass in story telling there JB. Had no idea where it was going. Then when you did the reveal, and the short section on Albo’s swift move was super poignant despite being much shorter than the set up.
Might share this with the younglings I teach.
Also yeah it was good move. I hope Labor in general learns from this.
Best analogies in the story of the creative thinker who snookered his bosses, as well as in the hero who thwarted his enemies. Thanks for that, JB. Made my day.
I need a smoke after that one. Better than sex, JB!
A great pity the mainstream media didn't read this piece before rushing off to print feverish stories of an early election & how Albo could never be trusted again! Angus, Susan & Spud looked blindsided to me!
Thank you loved where you took me…..