Albo's 47%

The whole "Albo owns 47% of my business" meme was a beautiful thing to watch. There were plenty of reply guys in the comments on all business pages being nitpickers, arguing semantics and displaying straight contempt for the entrepreneurs in our society, but they completely missed the point.

Yeah, we all know "Albo doesn't literally own 47% of our business"

That'd be absurd because then the Gov would actually share downside risk.

Yeah, we know the tax rate is progressive.
We know that the CGT discount only applies when your business is sold.

It's not an outrage at this singular specific line item in the budget.

It's "The straw that broke the camel's back", and the Overton Window is shifting.
People are willing to talk about the trials and tribulations of running a business publicly, and no longer care about looking weak, desperate or like a failure.
That’s a far bigger cultural shift than you may realise.

Business isn't meant to be easy.
Business is a battlefield, the best offerings will win.
There isn't a divine benevolence surrounding business owners meaning that we should guarantee them success, and that’s not what business owners are asking for.

People who start a business know the risks. They know the data. They see the cafes close, the shops shut up and the brands disappear. But being entrepreneurial is less a occupation and more a vocation. You have to enter the marketplace - the battlefield - to see what you’re made of. To harden your steel.

But the battlefield isn’t just your idea versus marketplace sentiment. The battlefield is an unnatural, adulterated landscape riddled with compliance, liability, inflation, bad fiscal policy - the list goes on. Time, stress and costs surrounding all sides of business are slowly compounding. Frogs in a pot, slowly boiling.

All the stuff that we need and want will be available - until it isn’t. It will just no longer come from hardworking Aussie families.
Multi-national zombie corporations will be there to service us.

You know, those big businesses that can lobby, comply, pay the fines and keep growing while offshoring profits through an Irish business registration or some other fancy loophole that is conveniently left open.

China and other nations who couldn’t care less about their emissions will continue to feed us our phones, cars and everything in between while we crush any and all domestic production to chase Nyet Zero, to virtue signal that we have shaved our 1% global emissions down to whatever.

Small business is increasingly "no man's land", a very hostile curated environment.

"Pulling yourself up by your bootstraps" is now a cultural joke rather than fatherly advice to “work hard and have a go”.

And still, trying to create and produce is a damn more impressive and useful vocation than most, and the overlord class is squeezing the energetic and the entrepreneurial close to the point where they can no longer sell themselves the pipe dreams of

"Next year will be better"
"Next budget will be better"
“Next product will be better"
“Inflation will slow down”
"I'm my own boss"
"I have freedom because I ‘work for myself’ “
“I’m building equity”

Don't mistake the signal for the noise.

Comments

• These tax changes don’t only affect the wealthy as many suggest. We’re debt free and financially independent but down at the bottom of the food chain. These tax changes will destroy our ability to make ends meet; so now we consider leaving the country to avoid ending up on welfare. I believe that’s exactly what this government wants; everyone on welfare handouts. That’s their strategy to win votes. Eventually it becomes easier to go around the mountain than over the top.

• You must be doing very well for any of the changes to affect your business. I think small business incentives are unchanged. Farming, feeding the world, is one of the most important jobs you can have. As such a strong Lib/Nat, now One Nation area, I don’t think any Labor federal budget would be welcomed. Have a great weekend

• Then whatever you are allowed to keep you cannot spend without knocking off another 10% for GST. Add inflation to that – which we all know is way higher than official numbers. #tax farm #rigged

• Hi Jake. The thing is with Albo, a bona fide Marxist-Leninist according to the book Comrade Prime Minister, not only are you a petty bourgeois business owner but a land-owning kulak and he is ideologically conditioned to despise you and all other small business people and farmers.

• You write some damn good stuff Jake, but this one wins. Thank you 🙏🏻 we can always trust you to explain something perfectly within a reasonable word count. We’ve written our 47% post, a little late to the party, but we needed to join this one. Your post inspired ours. Cheers.

• Perfectly said. The conversation in our home is now whether we pick up our ball and do this somewhere else.

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