Timber Schemes expose power of tax

Karl FitzgeraldCommentaryLeave a Comment

photo credit: miak The present collapse in Managed Investment Scheme’s was inevitable. The power of the tax system saw companies like Gunns planting trees around the clock in years gone by, just to meet the immense demand from tax-minimising activities. Kohler wrote in 2004 that upwards of 10 million gum trees were planted in the 10 preceding years, making then … Read More

Norway’s oil rents irrational

Karl FitzgeraldCommentary1 Comment

photo credit: Aidan.Morgan We read here how Norway’s oil rents have been more wisely invested than the UK’s. Fair point, but it still implies that we have failed to learn from the GFC: Still, even Ibsen might concede that it is easier to stand alone when your nation has benefited from oil reserves that make it the third-largest exporter in … Read More

Detroit Mayor Throws First Brick In Glass-Breaking Ceremony For New Slum

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DETROIT—As community leaders and members of the press looked on, Detroit mayor David Bing proudly hurled the first brick this week in a window-shattering ceremony for the city’s newest dilapidated slum. The result of three years of construction work and more than $24,000 in public funds, the rat-infested and crime-ridden development was unveiled to the public on Tuesday. “It is … Read More

Budget Smudge it

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photo credit: DieselDemon Renegade Economists Podcast 89 Subscribe to the podcast As broadcast on the almighty www.3cr.org.au on Wed May 13th. Show Notes: More speculative handouts revealed in this unique budgetary analysis. Dr Gavin Putland is our guest this week as he analyses the pro’s and con’s of the pandering to lobbyists. Anything in italics is our additional commentary and … Read More

Swan wimps out to property lobby

Karl FitzgeraldCommentary8 Comments

With all the promise of a tough budget, the biggest concern is the limp wristed, white flag response to the First Home Owners Grant (FHOG). Rudd’s recent mention that’ the FHOG won’t go on forever’ must have seen some furious lobbying in the halls of power by the Ron Silverberg’s (HIA) of the property lobby. Last night we learned that … Read More