Ok, I can accept that Moira Deeming has no idea what a headlock is and that her report to the police wasn’t a false one… And not just because her lawyer suggested that she might sue anyone who said that it was!
But I can’t ignore some of the idiocy that Dave Hughes is spouting…
All right, yes, I get it… The more ridiculous his rants are the more people click on them and share them and the more attention he gets and – let’s be clear here – in the 21st Century attention equals money.
Of course, it would be wrong of me to suggest that he’s being deliberately provocative in order to get clicks. I’m prepared to concede that he may actually be as stupid as he appears.
To take one example from his little chat with Mark Bouris. He suggested that if his son were to buy shares in BHP and they doubled in value, his son would be up for a tax bill of 30% even though he’s only earning $5k from his part-time job…
Let’s ask the questions that Mark Bouris didn’t ask:
- Where does your son get the money to buy shares? (Possible answer: from his part-time job.)
- Why is he selling them so soon?
- How on earth have the shares in BHP gone up so much when – according to Mr Hughes – we have such a terrible government which is so anti-investment?
- Why didn’t you son get good investment advice because any decent financial adviser would have pointed out that with such a low income, he’d have been better off investing in something like Coles which has 100% franking. This would mean that he’d get back the part of his dividend that the company paid, making the return very, very good, which would mean that he shouldn’t sell, so he’d pay any capital gains tax much, much later – if ever – at which time the capital gains would be less thanks to the discount to ensure that only real gains were taxed which would mean that it would be much less than the 30% quoted. Of course, if the Coles shares had gone up by 3,209,000% by then, this would mean that he’d have earned several billion dollars and he’d be up for a 47% tax rate reducing him from 19th in the Rich List to a mere 33rd…
Yes, we’d all be better to igore people who are wrong and who just make up things for their shock value. And yes, I did make up most of the figures in that last example and I have no idea how many shares in Coles would be needed to make someone a billionaire with that percentage but why should I be the only person on the internet who actually gets things right. It’s just too much work and the ones saying stupid things get all the attention anyway!
sigh<
I never had any time any time for Dave Hughes even when he was supposed to just be a comedian. He wasn’t a very successful comedian (imo) which is probably why he thinks he’s on the money to join the right wing shout fest. My nicest term for him is “boofhead”. Now there’s a good old Aussie word
Hughes is just another straight white cis bloke who can’t cope with his irrelevance. Deeming, however – wasn’t she an English teacher? Not someone you’d expect to be ignorant of the meaning of a not uncommon word.
@ Rossleigh: Thank you for your detailed explanation of share dealing. It has convinced me that I am better off working with residential real estate where the taxation benefits are more easily understood.
Not commenting on the article but drawing attention again to the completely misleading advertisement pointing to so-called advice on pensions which, when clicked on, takes you to a completely false story about the ABC’s Sarah Ferguson. This is misleading and unconscionable advertising and should not be on this site.
Apparently Moira Deeming has been invited to come to the Victorian Liberal Party to state why she should continue to receive Liberal Party candidature for the next election. The same question should be asked of Matthew Guy (of “lobsters with the Mobsters”fame).
Dave who?