Comments for SJ Around the Bay

Comment on Why Refugees from Iran? & 10 Essential Facts About Asylum Seekers by Helen

Helen — Thu, 16 May 2013 23:54:37 +0000

Rohanna, How many Australians do not make good citizens, are involved in criminal activity and do not understand local laws and morals, many overall just have a bad attitude and take for granted all that we have. I am of migrant stock, the land of my forefathers is not my own bar within fantastic imaginings within my mind of a land that generations ago my ancestors left. It is not for us to sit in judgement of any refugee or migrant to this land.

Comment on Why Refugees from Iran? & 10 Essential Facts About Asylum Seekers by Rohanna

Rohanna — Sun, 11 Mar 2012 03:25:01 +0000

Hi,
Half the world shrieks in horror worse than Dante’s flaming hell. Does that mean that they can all come to the west? No, not the hungry, the disease ridden, the homeless. But Iranians, who do not have political liberty, think their plight is more desperate. And they do have more benefits than other immigrants, old age pensions on arrival etc etc, and many do not make good citizens. Iranians in Australia are overrepresented in criminal activity, particularly with drugs, and social security fraud. They do not understand local laws and morals, loyalty to the wider community rather than the interests of one’s immediate family etc. They can go to other countries but want to come to the West for economic reasons, although they often despise the west.

Comment on Elites Loot Africa While Foreign Debt Mounts by meg tallafer

meg tallafer — Fri, 09 Mar 2012 03:51:02 +0000

This is a good video that help raise our consciousness on social issues that reenforce the gap between the rich nations and poor nations. Publish What You Pay information such as this calls for a deeper reflection on our part and and to help circulate this truth.

It is time of Lent and may this season lead us to reflect some of the reasons of the continous widening of gap between the rich nations and poor nations.

Comment on The Tax Justice Network – Tax Evasion and Developing Countries by Russell

Russell — Fri, 20 Jan 2012 02:49:48 +0000

Tax avoidance and evasion: it is big in Australia too. I understand estimates vary from $30 – 100+ billion per year. Your figure for here is… ?

Comment on RELIGIOUS LEADERS URGE POLITICAL LEADERS TO ACT WITH COMPASSION by Glenys North

Glenys North — Fri, 16 Jul 2010 04:45:43 +0000

Compassion is totally lacking – winning the election is the focus of both parties

Comment on RELIGIOUS LEADERS URGE POLITICAL LEADERS TO ACT WITH COMPASSION by marguerite dale

marguerite dale — Fri, 16 Jul 2010 03:01:49 +0000

Concern about attitudes regarding the treatment of asylum seekers gnaws.
Honestly, the language of fear and threat by a minuscule number of asylum seekers is totally out of proportion with the actual truth of the matter. We are faced with people forced to flee from persecution, conflict and violence. Their courage, resilience and strength is expemplary. Yet, instead of assisting them to relocate and start a new life(after the required screening), they are demonised and marginalised and not given the chance that a “civilised” weatlhy nation such as ours can offer.
Compassion is requested from our political leaders and positive leadership from all sides of politics regarding this emotive and sensitive issue.

Comment on Tax the banks and give to the poor, Robin Hood style. by Just ME in T

Just ME in T — Sun, 11 Apr 2010 10:30:33 +0000

Is this really asking you to be part of the World’s Greatest Bank Job (ha ha ha ha) or a conniving way to encourage you to be a part of the Worlds Biggest Con Job?
I just have to wonder how many folk actually have heard about the ‘Robin Hood Tax’ ? – (RHT) and more importantly have taken the time to find out what it is? where it comes from? what is actually involved? Let me tell you right now it involves BILLIONS OF DOLLARS, and of course, should it come to pass, just who will administer it?

http://just-me-in-t.blogspot.com/2010/04/men-in-tights.html

Comment on Tax the banks and give to the poor, Robin Hood style. by Boo Ronan

Boo Ronan — Wed, 31 Mar 2010 03:47:23 +0000

G’day
I trade currency for a living, with my own resources. I finished university in the past two years and now I am working for myself. I don’t work for a bank and I am certainly not ‘rich’, but rather trying to make ends meet with my newly started business. I already pay tax on my profits, and this tax helps our Australian government provide services for us all, help other less fortunate citizens and provides a paltry amount of aid for overseas development. I am not the only person who gains from my earnings, but also my fruit shop, supermarket, landlord, newsagent and bike shop do too.
I complete, on average, about 15 deals a day at about 3x leverage, representing an account turnover of 45 times. If I had to pay .05% tax each time I bought and a further .05% tax each time I sold, my trading account would drop by 4.4% each and every day. Try running a business with those costs. I wouldn’t do nearly as much volume if this was the case and neither would any other short term trader.
Presently I correct market imbalances in certain currencies, and these imbalances are small, in the region of 0.1% or 0.2%. By correcting imbalances I mean that if the currency is down I tend to be a buyer and if the currency moves up, I tend to be a seller. It is a cushioning effect.
Now when this tax comes in, all the people who corrected imbalances of 0.1% and 0.2% would move to a different timeframe, this time correcting imbalances of perhaps 1% and 2%. And it is likely the people who used to cushion a 1% to 2% swing would now start cushioning a 5% to 10% swing. Market movement is all about searching for liquidity. Impatient sellers push prices down to find buyers, and impatient buyers push prices up to find sellers. When the immediate sellers and buyers have all left the market as their costs are prohibitive, those big buyers and sellers would need to search even harder (read push prices around in a more extreme fashion) to complete their deal. The .1% and 0.2% people are all gone, taxed out of existence, the volume is now found by the big buyers/sellers, provided by the bargain hunters beyond a 1% or 2% swing, and major news events that have 1% to 2% movements could become a 5% or 10% move so the liquidity could be found. This is not an orderly market.

If a greater portion of the market was attempting to correct such wild swings, (and a 1% or 2% move in a currency is actually quite volatile over a period of a few days), then I strongly believe there would be much wider swings in financial markets as the short term cushioning is removed, and ‘bargain hunters’ are less active due to the extra cost in establishing a position.

If you had an account of $15,000, a .05% tax on each transaction, with 15 deals per day each at 3x leverage, would take 4.4% or $660 each and every day from the traders account. This is regardless of whether a trader is profitable or not. The profitable trader pays tax anyway on her gains, at the full rate of income tax. And most traders who start in this business are certainly not profitable, thus people who routinely make losses would be paying tax on their activity.

If the aim of this is to tax the rich, why not stick to the principle of taxing income and not capital. Perhaps the aim is to catch more taxation revenue on the companies that use off-shore tax havens, and in this case moves should be made to reduce the taxation loopholes. It is not fair to tax a citizen if they cannot have a say in how that revenue is used. Taxation without representation was the catchcry that started the American war of independence, and now strangely they are the leading proponent of this new tax.

If the aim of this is to reduce volatility, it is mistaken, as many studies have shown that a transaction tax actually increases volatility and reduces the amount of trade actually occurring.

A transaction tax is a poorly considered idea, jumped upon by false populists. It is not the short term traders who caused this financial crisis. If revenue must be raised to help third world countries get out of poverty, it should be collected and sent by a national government who can at least provide accountability for the money and how it is spent.

Thank you for your time. Boo R.

Comment on Recycle Computers, Text books, Used Books through Kanga Schools by Debra

Debra — Sat, 13 Mar 2010 02:08:19 +0000

I have saved my children’s high school text books in case their younger siblings might need them. With only one child now at school, I’ve ended up with two boxes of text books. Can you use them? I’d hate just to throw them out and would be happy to deliver somewhere on the northern beaches.

Comment on THE GRANDMOTHER HOMEMAKER PROGRAM: support for families in remote Aboriginal communities by benjamin Iyakaremye

benjamin Iyakaremye — Tue, 09 Mar 2010 12:10:37 +0000

Thanks for what you do but I need a support because I want to continue my study if it is possible. I real appreciate for what you do may God bless you