Debt and Deficit - Coalition Budget Emergency

[Ratts of Tobruk]

Alan Kohler has fired a few barrels today, correctly calling out successive governments for excessive spending, and calling for a strong consumption tax.

https://www.businessspectator.com.a...princes-knighthood-was-fiscal-policy-disaster

Highlights include:

I think by the time of the next election we could be seeing a battle of consumption taxes: Labor's Carbon tax v Liberals' GST broaden+raise.

 

[madmug]

I think by the time of the next election we could be seeing a battle of consumption taxes: Labor's Carbon tax v Liberals' GST broaden+raise.

The GST can only be altered by the agreement with state Guments.

I guess that is why Hockey has done his best to cut support to states in education & health. Also putting costs on to see a GP will further cost shift to state health systems.That may force states to increase GST.

I just hope they leave health & fresh food out of any GST, now & forever!

 

[Number37]

The GST can only be altered by the agreement with state Guments.

I guess that is why Hockey has done his best to cut support to states in education & health. Also putting costs on to see a GP will further cost shift to state health systems.That may force states to increase GST.

I just hope they leave health & fresh food out of any GST, now & forever!

Go to the top of the class.

 

[Long Live HFC]

The GST can only be altered by the agreement with state Guments.

could this be changed simply by amending the federal act?

 

[swansfan51]

The GST can only be altered by the agreement with state Guments.

I guess that is why Hockey has done his best to cut support to states in education & health. Also putting costs on to see a GP will further cost shift to state health systems.That may force states to increase GST.

I just hope they leave health & fresh food out of any GST, now & forever!

Yeah the GST doesn't need to be strengthened, what the **** would Alan Kohler know. His regular spot on the ABC must make him one of those Murdoch puppets

 

[madmug]

could this be changed simply by amending the federal act?

No.

I hope

 

[Long Live HFC]

No.

I hope

yeah i have no idea either....but...i suspect they might be able to. will do some research tomorrow.

 

[Play by Numbers]

Yeah the GST doesn't need to be strengthened, what the **** would Alan Kohler know. His regular spot on the ABC must make him one of those Murdoch puppets

Some people focus on policy, not partisan bickering

 

[yibbida]

All the revenue is distributed to the States from the GST.

Anyone care to explain how raising the GST will improve the Federal Budget?

 

[yibbida]

How long before the Liberal Party stooges repeat Hockey

"If only the Labor Party had've been more upfront about the true state of the budget,"

I wonder why they won't repeat what Abbott said just after being elected

http://www.pm.gov.au/media/2013-09-16/press-conference-parliament-house

QUESTION:

Mr Abbott, is there still a Budget emergency or have your briefings with Treasury alleviated the problem?

TONY ABBOTT:

There is a very serious deterioration in our budgetary situation – a very serious deterioration. The deterioration is not markedly different from the situation that was revealed in the PEFO and just prior to the start of the campaign. It’s not markedly different from that.

 

[RightorKhan]

Just take back the middle class welfare we gave out in 07 and problem solved. That simple.

 

[KnobHead]

Just take back the middle class welfare we gave out in 07 and problem solved. That simple.

wasn't 2007, it was 2002 under Howard when world economy was booming. tax rates were also cut - so we had increased spending for middle class while simultaneously bringing in tax cuts.could afford it then because of the boom

problem is, since the downturn no government has been politically tough enough to really challenge middle class welfare

also, labor won't support austerity aimed at lower classes, & libs won't support taxes aimed at wealth (mining tax - can be done, look at Norway )

perhaps raising gst, which Howard did introduce & deserves a tick for, is a place to start. then look at other measures which cut across number of social groups, for example, such as cutting back on middle class welfare , some sort of Medicare co-payment, and even a mining tax (bhp iron ore exports went up 20% last year - I don't buy the crap that a mining tax costs jobs because operations will go off shore, the minerals r here not elsewhere)

but hockey, despite all his rhetoric of wanting to reduce the deficit, won't make the politically tough decisions . nor will labor, most likely

since 2002, australian governments have been pretty lame on the whole

 

[Pessimistic]

Joe Hockey : we should fix GST but theres no point in the current political climate.

Sow, reap, idiot

 

[Maggie5]

If either party wants to do something about super, what about restricting lump sum payouts and making people take out annuities?
Seems a number of people, take out lump sum, pay off mortgage, buy new car, overseas holiday, then apply for pension.
Forget about allowing them to draw on super to put deposit on home, this will surely just drive up house prices. Cashed up buyers, more demand, still only x amount of housing available.

 

[Elroo]

All the revenue is distributed to the States from the GST.

Anyone care to explain how raising the GST will improve the Federal Budget?

The federal government would cut back on the special purpose grants they distribute to the states.

 

[spinynorman]

Yeah the GST doesn't need to be strengthened, what the **** would Alan Kohler know. His regular spot on the ABC must make him one of those Murdoch puppets

Doesn't make him right. The GST should be abolished.

 

[Pessimistic]

GST at 10%: can live with
GST at 20% like some countries. Very scary, and must be a brake on the economy

So what is the happy medium ?

 

[Northalives]

Gee, the GST hey? A gigantic redistribution of wealth upwards and Hockey and all these other numbskulls reckon that increasing the GST will fix Australia's perceived ills.

The GST shifted the burden of tax to those who could least afford it and somehow, by further increasing this burden on those who can least afford it is going to make everything hunky dory. It's the same as this, "everyone should be paying a flat rate of tax on their income regardless of what their incomes are" s**t!

The businessmen and those who are registered for GST and can claim it back, they are rubbing their hands in glee in anticipation of getting another sizeable tax cut and everyone else, well they can go and get f****d!

This Hockey imbecile and his brain dead leader have been telling the world that we have a budget emergency and that "the age of entitlement is over" and we have to rein in spending but his next budget is going to be all about spending to stimulate the economy!

Hockey and his mob of pompous gits thought they could take a stable and solid economy and replicate a Thatcherite regime and everyone would be too dumb to notice.

The dullards of the "liberal" party didn't understand that getting into government actually meant you had to have some sort of intelligence and you actually have to work but because they are dumb shits that don't know the first thing about marrying progressive social and economic policies, what's the answer, raise the GST!

 

[Pessimistic]

Except you missed the bit where hockey openly admits hes not up to the job of reforming taxes

Surely we should be reforming taxes to the benefit of some decent infrastructure investment.

Otherwise, there you have it, the banana republic

 

[Lebbo73]

I wonder why you thought a private company would pay you money.

Good luck with your failed solar.

I have Solar Power. My estimate is that it should pay for itself in 20yrs.

 

[Northalives]

Except you missed the bit where hockey openly admits hes not up to the job of reforming taxes

Surely we should be reforming taxes to the benefit of some decent infrastructure investment.

Otherwise, there you have it, the banana republic

Yep.

There is more to being in government than "letting the markets do their job".

 

[Lebbo73]

What's stigmatizing the abc got to do with the LNP putting us into a budget deficit by unnecessarily handing out hundreds of billions to the middle class for free?

Are you suggesting him and the Treasury department are incorrect with their figures?

Of course they did. It would have nothing to do with all the new spending Krudd and Juliar kept creating when they were PM!
Btw, I don't agree with Middle Class welfare.

 

[madmug]

GST at 10%: can live with
GST at 20% like some countries. Very scary, and must be a brake on the economy

So what is the happy medium ?

I didnt like the GST as a regressive tax, but at 10% on non medical & non fresh food we can/have to, live with. Pensioners were reimbursed with a pension raise.

I completely reject any changes to GST without sorting superannuation & the other corporate & middle class welfare gifts.

 

[Lebbo73]

I didnt like the GST as a regressive tax, but at 10% on non medical & non fresh food we can/have to, live with. Pensioners were reimbursed with a pension raise.

I completely reject any changes to GST without sorting superannuation & the other corporate & middle class welfare gifts.

There is not really anything to sort out with superannuation.

 

[medusala]

problem is, since the downturn no government has been politically tough enough to really challenge middle class welfare

Mindboggling that 10 million can receive welfare. How that number can be so high is beyond me.

http://www.businessspectator.com.au...il&utm_content=1191133&utm_campaign=pm&modapt

Now there are about 10 million welfare recipients, with $400 million spent on 50 million transactions every day.

How long before the Liberal Party stooges repeat Hockey

Put the pom poms away will you.