8 Billion $ tax breaks are to be scrapped.

[Jamathi]

Kevin Crudd and Wayne the black Swan are axing the promissed 8 billoin dollar taxbreaks that were to come into effect for the taxpayers of Australia.
Waaarkingg vvvvamilies now will pay more tax so these commo's can spread it willy nilly around to the lay abouts in our society.
What incentive will there be left to work hard and invest to get ahead with these morons at the helm?
Now we will have their union bosses chase Huge increases in wages which in turn will drive up inflation and therefore more rate rises from the thieving banks, hence more morgage pains for the ones who are still paying off their "Australian nightmare"

Well Australia voted for these clowns, so enjoy the ride

[taint]

Don't blame me for this mess

[Camel Salesman.]

Kevin 07 recession 08

[Cam]

Because we wouldn't possibly be in the same position if somebody else was in power, right?

[taint]

We'd still be dealing with inflation and the issues related to the global economy but at least the unions would have been kept in check. Just because you can strike until you get what you want doesn't mean that you should, all this does is inconvenience everyone else.

[Orson]

Originally Posted by Cam

Because we wouldn't possibly be in the same position if somebody else was in power, right?

Well if recent history is anything to go by, at least we'd be getting the tax break. (Doesn't mean they didn't fuck a bunch of other stuff, but staying on topic...)

[Rooster]

How predictable.

[taint]

Originally Posted by Rooster

How predictable.

Its politics, it's always predictable. You have zealots on either side of the fence and they each think each others parties idiots.

[thro]

Can't say i'm surprised.

Tax break = inflation.

Inflation is already fucked.


They need to get their shit together with regards to land release/price of land (which has been going up WAY In excess of inflation). Price of land goes up, everything needs to go up (hence, inflation) to support it. Alternatively they try to control inflation, and "no one" can afford to buy houses (what we have now).

Until that's sorted, the economy is going to be fucked


(armchair economics)



edit:
In this respect, I don't think labor/liberal/national would have made a shit of difference. Land release, i believe is state politics...

[STUART]

so the tax breaks that were coming in july are now fucked?????? if it is true thats fucked

bloody dickhead rudd

i was looking forward to an extra $20 a week

[hokoyo]

Originally Posted by thro

Can't say i'm surprised.

Tax break = inflation.

Inflation is already fucked.

A strong economy is the best weapon against inflation, strong economy with high confidence encourages people to start their own business and invest. A weak economy means people will not spend and business will suffer. Employment will drop, taxes will drop and we will drop.

We have a treasurer and PM talking down the economy when they should be selling its strengths.

Welcome to the Recession that we DID NOT have to have.......

[Jamathi]

Well one look at what actualy happened when in the last 20 odd years either labor or Liberal were in Power could reveal and somehow prove what we are going to be in for, again.
Last 12 odd years have been upwards despite woprld crisis, now we are going down again in all facets of our society.
Here in WA Eric the Ripper is going to increase state Debt 3 fold from 4.4 to over 12 billion!!??) despite record takings of tax$$ from all of us, the citisen of WA plus all the royalties.
Figure this one out if you can!
Quickly they (Labor) will go to anearly state election, despite that the opposition is a complete trainwreck thanks to, not in a small part, a certain MP, Rob Johnson , member of the lowerhouse assembly for Hillaries and his croonies.

[Juffy]

Originally Posted by Jamathi

Kevin Crudd and Wayne the black Swan are axing the promissed 8 billoin dollar taxbreaks that were to come into effect for the taxpayers of Australia.
Waaarkingg vvvvamilies now will pay more tax so these commo's can spread it willy nilly around to the lay abouts in our society.

Since you didn't bother providing a link to anything on this (leading me to believe you probably heard it trumpeted by some breathless radio announcer decrying the fate of the proletariat, I had to go find it myself:

$8bn tax breaks to be axed | The Australian

Originally Posted by STUART

so the tax breaks that were coming in july are now fucked?????? if it is true thats fucked

...and see what happens Jamathi? People take your little troll-bait and run with it, and before you know it you've got 10 pages of Labor-Liberal bullshit which doesn't achieve anything.

Stuart - this is NOT the tax cuts that were promised pre-election. For a start, that was $31bn or so, not $8bn.

Originally Posted by The Australian

The crackdown on tax concessions follows an exhaustive razor gang review of more than 300 so-called "tax expenditures" - the phrase Treasury uses to describe tax breaks, incentives, offsets and exemptions that drained more than $51billion from the federal budget in 2007-08. Two-thirds of this forgone revenue covers perks for superannuation and the capital gains tax discount.

Yep, sounds like the little aussie battlers are getting well and truly shafted...or the ones who are likely to be shafted by CGT, anyway. How about you people do some fucking research before bandwaggoning all the way to Timbuktu.

[BigTim]

It's not my fault. I didn't vote

[FireStorm]

It's a cycle.

Labor get power and spends and spends until state and national debt is unmanagable for the twits we all voted in. So we vote in Liberal and they tighten the reigns and reduce state and national debt again, and god saw that it was good.

Then we all think maybe we should give those Labor guys another go see if they have improved and it's starts all over again.

[Drach]

Originally Posted by Juffy

Stuart - this is NOT the tax cuts that were promised pre-election. For a start, that was $31bn or so, not $8bn.

Was going to be 31 billion over 3 years i believe..... And it wasn't promised per se, it was promised that if it was a good idea they'll do it. It was somewhere along the lines of Howard saying he'd always keep rates lower then labor, but was generally taken as saying he'd always have low rates.

I don't so much mind him not returning it, as long as it's not spent on useless crap. I think he's done it in response for economists saying he's an idiot cuz they need a much larger surplus to fight inflation.

[barfridge]

Little known fact: tax brackets are linked to the CPI, and are adjusted every few years. This was all mandated in the 70's when the current tax system was intorduced. After all, if it wasn't the highest tax rate would kick in somewhere around 25-30k.

Of course the gov't never tells you that it's just a mundane regulation, they tell you they are giving you something because they are good people.


And another thing, how is the government reducing spending playing into the stereotype of Labor being big spenders?

And the federal govt has little control over oil prices, food prices and house prices (the first 2 are set internationally, the last is a state matter).

No, I'm not pro-Labor, just anti-ignorant bullshit

[MADOGA]

Originally Posted by barfridge

Little known fact: tax brackets are linked to the CPI,

More importantly where the hell does the CPI figures come from ?
we've had like 2 or 3% CPI for quite a few years, wages have been lucky to rise by even that low CPI,
yet real costs of living housing , food , gas, electric, and all the rest have gone up far more than 2 or 3 %.

[resist]

these tax breaks were copy cat policy by labour, the liberals promised them, labours hand was forced. at that stage labour didnt have the full economic figures, (the oppoisition doesnt get to see the government accounts), now they are in, they realise that the tax cuts are a BAD idea. Economic policy prevails, and they are (rightly) scrapping the tax cuts.

boohoo, we dont get our $5 a week tax cut. big woop.

[thro]

Originally Posted by resist

these tax breaks were copy cat policy by labour, the liberals promised them, labours hand was forced.

Forced.

Lol.

So they're admitting that they have nfi and were just "we'll do what they're doing! but we're new!"




The idea of a political party is that you present your own ideas and policies - not just do whatever you need to do to get into power and then follow a different agenda.

Not that I particularly care, just find the defense of it all amusing.