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Today's quote:

Thursday, March 22, 2018

Here are some definitions of the word 'dog-tired"



Franking credit refunds are fair


Most of the arguments against zero tax rate individuals receiving franking credits are actually arguments against the whole dividend imputation system. For if you accept that zero tax payers shouldn’t get a credit, why stop there? Why should any tax payer get franking credits to offset other tax? The answer for all is that the pre-tax earnings of the companies they own, partly via being one shareholder among many, or wholly if it is their own business, belong to them.

The company, for all shareholders irrespective of their tax rate, is simply a pooling structure. It should not pay tax on earnings it pays to the members of the pool. The fact that it does is what creates the errors of perception about the incidence of taxation, about who should pay what, that are now clouding the discussion.

The current dividend imputation system is the second-best way of fixing the error that having a company tax system has created. The best way would be to have a zero company tax rate and apply withholding tax on retained earnings and foreign shareholder distributions."   Read the whole article here.

Cuffelinks' article by Warren Bird is the most cogent argument for full refundability of franking credits I've read so far. But, of course, cogency and logic was never part of BS's tirade against franking credits (please note, 'BS' in this case stands for Bill Shorten).

The Daily Telegraph reports that there are already plans to give CFMEU slush funds and Labor-aligned campaign groups secret exemption from BS's plan to axe franking credit refunds.



Wednesday, March 21, 2018

I've "Nina Bobo"-ed all afternoon


It's been cold and grey and raining and so, after a big early lunch and a large glass of Chateau Cardboard, I pulled a beanie over my eyes and the doona up to my nose and "bobo"-ed all afternoon.

I dreamt that all politicans had been given proper jobs at McDonald's, all whingers and whiners disenfranchised (and if you don't know what 'dis-enfranchised' means, you're probably one of them), and a certain ex-deputy mayor deported to Lebanon.


Nina bobo
oh, nina bobo
Kalau tidak bobo
digigit nyamuk

boboklah bobo
adikku sayang
kalau tidak bobo
digigit nyamuk

Go to sleep, Nina,
Oh, go to sleep Nina.
If you don't sleep
The mosquito will bite.

Sleep, go to sleep,
My beloved sibling.
If you don't sleep
The mosquito will bite.


Then a mosquito bit me and I realised it had been just a dream.



Monday, March 19, 2018

Making America great again!


A friend has just sent me these images from the world's most powerful nation. I agree it won't be easy to make America great again, and Trump help us if they ever start breeding!



Some of them may at this very moment bring democracy and Western values to the Middle East while others patrol the South China Sea.




γλαῦκ’ εἰς Ἀθήνας


Never one to pursue a pointless task, I've also never carried owls to Athens. Nor have I carried them away from Athens, so this one may have followed me from my last job a whole thirty years later.

Or maybe it's just the latest addition to Riverbend's growing ménagerie of possums, wallabies, water dragons, ducks, turtles, frogs, parrots and lorikeets, not to mention all the creatures that swim past us in the river.

If there are no nightingales, one must settle for owls which are awake and mired in reality while the rest of us dream in our sleep (except for sleepless and unsettled moi, but there's always ABC Radio National).

And what's their collective noun? While generally solitary, as they're considered to be of wise disposition, a group is called a "parliament".

They'd never heard of our parliament when they thought that one up.