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Old 06-11-2019, 01:09 PM
 
Location: Phoenix, AZ
1,801 posts, read 2,070,971 times
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Quote:
Originally Posted by njbiodude View Post
Sydney has almost 5 million people and is extremely culturally rich and ethnically diverse. It has great food too. Also much nicer nature and weather than NYC.
Melbourne also has nearly 5 million people, and many of the same qualities.
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Old 06-12-2019, 09:40 AM
 
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Quote:
Originally Posted by damba View Post
It’s merely in proportion to the overall high COL
I don't think it is, which is why I made the comment.
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Old 06-12-2019, 09:44 AM
 
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Originally Posted by MarisaMay View Post
But yes, whinge we may but we have the highest median wealth per capita of a major country last time I checked it.
That's because of your superannuation plans that effectively force people to save. I wish we would do that in America. And it's also because of overpriced real estate. It's unfortunate, but if you don't force people to save, most won't build any significant wealth on their own.
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Old 06-13-2019, 12:25 AM
 
Location: Australia
838 posts, read 306,821 times
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Originally Posted by mysticaltyger View Post
That's because of your superannuation plans that effectively force people to save. I wish we would do that in America. And it's also because of overpriced real estate. It's unfortunate, but if you don't force people to save, most won't build any significant wealth on their own.
Yes, our tax regime encourages the ownership of investment properties. I think about a quarter of Aussies own or partly own IPs. One of the reasons the Labor Party did so badly in the recent elections was that they wanted to cut back on the tax perks regarding IPs. I think they forgot that many of their previous followers, be they ordinary working people, are landlords. And then there was the issue of imputation credits. They pretty well lost the retirees vote on wanting to cut that out.
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