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The four-day workweek in Australia: insights from early adopters of 100:80:100

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Re: The four-day workweek in Australia: insights from early adopters of 100:80:100

#211

Post by mianos »

BLKNSLVR wrote: post #204
mianos wrote: post #122

Earlier quoted context omitted.

If you start a business and grow it from hard work, you will now be taxed more. It's not just passive gains, it's all gain.

My understanding is that the difference is in the Capital Gains Tax, which doesn't apply to the day-to-day running of the business or its profitability or the salaries it pays. Again, my understanding is that the (only) difference is when the business is sold, and the 50% discount to CGT is no longer applied and instead there is an inflation adjustment instead (what I don't understand here is how to get an initial va…

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Re: The four-day workweek in Australia: insights from early adopters of 100:80:100

#212

Post by passive »

gsinclair wrote: post #163
passive wrote: post #74

Earlier quoted context omitted.

It's a little bit snark, but I do think it would be an interesting experiment. Wish I had lots of money to try it out.

If I had the “lots of money” required, I’d try out a zero-day work week instead!

Oh, I don't want mean for myself, I mean as an experiment at the other end of the four-day work week spectrum.

Though for myself, I like having time to think about ideas in between when I collaborate with folk on them, so I have a lot of optimism about the success of the experiment. :)

Re: The four-day workweek in Australia: insights from early adopters of 100:80:100

#213

Post by mianos »

BLKNSLVR wrote: post #204
mianos wrote: post #122

Earlier quoted context omitted.

If you start a business and grow it from hard work, you will now be taxed more. It's not just passive gains, it's all gain.

My understanding is that the difference is in the Capital Gains Tax, which doesn't apply to the day-to-day running of the business or its profitability or the salaries it pays. Again, my understanding is that the (only) difference is when the business is sold, and the 50% discount to CGT is no longer applied and instead there is an inflation adjustment instead (what I don't understand here is how to get an initial va…

ps. Australia uses a progressive tax system. If you earn very little money, you pay a very low tax rate (or many zero). If you earn a massive corporate salary, you pay the top rate.

The new 30% floor completely throws that out the window for capital gains. It means even if your total income for the year is low enough that your normal tax rate should be 16% or 0%, the government steps in and forces a flat 30% tax on the asset sale anyway.

So, contrary to what the government is saying, this new regime taxes the poorer even more.

Re: The four-day workweek in Australia: insights from early adopters of 100:80:100

#214

Post by declan_roberts »

ycombinator_acc wrote: post #205
genxy wrote: post #172

Earlier quoted context omitted.

You give away your bias when it is the other way around. The H1B is a byproduct and a tool of corporate greed.

Or it’s a way for the less fortunate (geographically) to seek a better future. They more or less got rid of it last September, yet the job market has only worsened. Scapegoating minorities, whether it be trans people, brown people, Muslims or immigrants, doesn’t work. All it does is destroy lives. > You give away your bias when it is the other way around. How so?

No country is ever going to be able to create a functional local software economy if every good engineer get sucked out of the country.

In many ways the current system is cruel to every international company which forces their local wages to compete with the United States.

Re: The four-day workweek in Australia: insights from early adopters of 100:80:100

#215

Post by BLKNSLVR »

mianos wrote: post #213
BLKNSLVR wrote: post #204

Earlier quoted context omitted.

My understanding is that the difference is in the Capital Gains Tax, which doesn't apply to the day-to-day running of the business or its profitability or the salaries it pays. Again, my understanding is that the (only) difference is when the business is sold, and the 50% discount to CGT is no longer applied and instead there is an inflation adjustment instead (what I don't understand here is how to get an initial va…

ps. Australia uses a progressive tax system. If you earn very little money, you pay a very low tax rate (or many zero). If you earn a massive corporate salary, you pay the top rate. The new 30% floor completely throws that out the window for capital gains. It means even if your total income for the year is low enough that your normal tax rate should be 16% or 0%, the government steps in and forces a flat 30% tax on t…

My non-heavily-researched understanding is that people who make their entire, or a majority of, their annual 'earnings' from capital gains may not be all that poor.

There's a whole spectrum of examples that can be used to demonstrate fairness or lack of fairness. Can you elaborate on your example of taxing a poor person even more by forcing a flat 30% tax on capital gains? Is this person you? What does your life entail whereby you are poor whilst also living almost entirely off capital gains?

You can still get all your capital out before the 1st of July 2027, and then re-distribute into areas that have better tax incentives, like new house builds. Sounds like that might solve two problems at once.

Re: The four-day workweek in Australia: insights from early adopters of 100:80:100

#216

Post by [deleted] »

Tadpole9181 wrote: post #187
shermantanktop wrote: post #166

Earlier quoted context omitted.

Is there not a connection between the two? You'll have to spell out what you're suggesting here. "Think again" only works on LLMs, and then only sometimes.

The top comment seems to insinuate the 996 (or any overwork scheme) is being brought over because of H1B visa workers. The responder is saying that domestic American capitalists do not need foreign influence to abuse or exploit labor. The H1B visa program has absolutely nothing to do, for example, with Walmart telling their full time employees how to apply for government assistance programs because they refuse to pay…

[deleted]

Re: The four-day workweek in Australia: insights from early adopters of 100:80:100

#217

Post by declan_roberts »

Tadpole9181 wrote: post #187
shermantanktop wrote: post #166

Earlier quoted context omitted.

Is there not a connection between the two? You'll have to spell out what you're suggesting here. "Think again" only works on LLMs, and then only sometimes.

The top comment seems to insinuate the 996 (or any overwork scheme) is being brought over because of H1B visa workers. The responder is saying that domestic American capitalists do not need foreign influence to abuse or exploit labor. The H1B visa program has absolutely nothing to do, for example, with Walmart telling their full time employees how to apply for government assistance programs because they refuse to pay…

Software talent doesn't compete against Walmart greeters. That's the connection you're missing for h1b.

Re: The four-day workweek in Australia: insights from early adopters of 100:80:100

#218

Post by ikr678 »

mianos wrote: post #213
BLKNSLVR wrote: post #204

Earlier quoted context omitted.

My understanding is that the difference is in the Capital Gains Tax, which doesn't apply to the day-to-day running of the business or its profitability or the salaries it pays. Again, my understanding is that the (only) difference is when the business is sold, and the 50% discount to CGT is no longer applied and instead there is an inflation adjustment instead (what I don't understand here is how to get an initial va…

ps. Australia uses a progressive tax system. If you earn very little money, you pay a very low tax rate (or many zero). If you earn a massive corporate salary, you pay the top rate. The new 30% floor completely throws that out the window for capital gains. It means even if your total income for the year is low enough that your normal tax rate should be 16% or 0%, the government steps in and forces a flat 30% tax on t…

On paper yes, but very few of the _actual poor_ were making capital gains on asset sales. Aus Govt figures claim 90% of people under 35 do not own shares outside of retirement funds(which get different tax treatment).

It closes the loop holes where wealthy people approaching retirement would spend a few years paying very little tax and living off capital gains instead at a ~20% tax rate.

Re: The four-day workweek in Australia: insights from early adopters of 100:80:100

#219

Post by han1 »

idle_zealot wrote: post #56
han1 wrote: post #43

Earlier quoted context omitted.

I work remotely at companies until they fire me for doing the minimum. I still get paid for the two to three weeks, so I couldn't care less because the money goes towards my hobbies.

Do you feel like maybe we could do a better job of constructing a world where people don't feel they need to do this objectively worthless activity?

It is meaningless, yes. It's not any more meaningful than trading crypto or betting on whether the basketball player will tie his shoe.

Re: The four-day workweek in Australia: insights from early adopters of 100:80:100

#220

Post by ikr678 »

gsinclair wrote: post #126
schappim wrote: post #98

Earlier quoted context omitted.

Speaking as an Australian, our productivity has been lagging[1] compared to the US, largely due to the availability of cheap labour (attributed by economists to foreign students)[2]. I heard one economist on the ABC give the example of carwashes[2]. From the 1990s to the early 2000s, car washes in Australia were largely automated and hand-wash car washes were relatively uncommon. However, the abundance of cheap labou…

The car wash example is interesting, as something I’ve seen and experienced but never thought about in that way. I wonder how it truly factors into productivity, though. How is productivity measured, and does that measurement capture what is true? You mention automated car washes as a baseline. I never used those in the past because I figured they’d be rubbish or would scratch the car or whatever. So I’d occasionally…

Cheap labour is one part of it, but also if you were a wealthy foreigner looking to get residency/citizenship, there are a few visa classes for 'business owners' who met certain job creation/investment thresholds. Car washes were a popular vehicle for this.
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