Debt and Deficit - Coalition Budget Emergency

[Rotayjay]

I had a look at today's issue of The Biased Australian, and (once again) it's the usual 'Labor's stimulus was bad for the economy, cut taxes, cut taxes, cut taxes, yadda yadda yadda'. Because all of Australia's economic woes will be solved by effectively giving a tax break to foreign shareholders at the expense of hospitals, schools, roads and the genuinely needy

 

[Pessimistic]

I just can't reconcile how one off chequer to taxpayers and one off school improvements. Pink batts. Whether you agree with them or not can be blamed for recurring fiscal problems

I'm just a lay person but it doesn't seem logical

I suspect that after stuffing around with the economy on again off again get hikes and state taxes. Govt and treasury is now putting all its efforts into trashing the opposition. Blaming the govt before last for current problems is a leap of logic?

Might as well blame Howard and costello

 

[kwikfix]

Noticeably earlier this year the rowdy debate over debt and deficit suddenly fell silent. Shorten and Turnbull had made deal to avoid pointlessly tearing each other to pieces. Turnbull wanted the freedom to keep spending and Shorten did not want the blame for the existing, and now ballooning, debt. That deal is now in tatters as one more quarter of negative growth puts us officially in recession and almost certainly blasted below our AAA rating. Two more quarters of the same and it’s a depression with no way to finance health, education, the NBN, NDIS or welfare.
http://pickeringpost.com/story/-alp-lib-debt-deal-fails-with-tanking-gdp/6725

 

[Benny78]

I had a look at today's issue of The Biased Australian, and (once again) it's the usual 'Labor's stimulus was bad for the economy, cut taxes, cut taxes, cut taxes, yadda yadda yadda'. Because all of Australia's economic woes will be solved by effectively giving a tax break to foreign shareholders at the expense of hospitals, schools, roads and the genuinely needy

Same emotional underlyings that helped them create the concept of banking.

 

[Pessimistic]

No mention of Rudd banks policy

 

[Ratts of Tobruk]

Noticeably earlier this year the rowdy debate over debt and deficit suddenly fell silent. Shorten and Turnbull had made deal to avoid pointlessly tearing each other to pieces. Turnbull wanted the freedom to keep spending and Shorten did not want the blame for the existing, and now ballooning, debt. That deal is now in tatters as one more quarter of negative growth puts us officially in recession and almost certainly blasted below our AAA rating. Two more quarters of the same and it’s a depression with no way to finance health, education, the NBN, NDIS or welfare.
http://pickeringpost.com/story/-alp-lib-debt-deal-fails-with-tanking-gdp/6725

Putting aside any analysis of the above, what is Pickering's angle? Is he just pro-Bernadi style politics? Or something else?

 

[Gough]

Putting aside any analysis of the above, what is Pickering's angle? Is he just pro-Bernadi style politics? Or something else?

He's a moron trying to get on the Trump bandwagon. Thankfully compulsory voting in this country will see to it that that sort of candidate could never hope to succeed in this country, the closest we'll ever get was Abbott, and we all know how that ended up. Nice to see you again btw Ratts.

 

[GuruJane]

http://pickeringpost.com/story/-alp-lib-debt-deal-fails-with-tanking-gdp/6725

Foreboding point Pickering makes:

Morrison and turtle head Bowen had crafted a pathway of lies to solvency some time in the out years by agreeing to assume an outrageous five per cent per annum ongoing growth rate. Unfortunately anything under five per cent would ensure the financial blowout would increase exponentially.

This .5 point retraction has all but ensured the financial blowout on budget will be critical. Goodbye AAA rating.
I thought at the time Morrison's inflated growth rates were really Wayne Swan acting. I think Hockey may have had similarly inflated growth projections in 2015.
Australia surely has turned into the Dumbo country.

 

[madmug]

Once we have Government by dogma & not based on science or expert advice, we have a problem.
A handful of rightwing religious nutters who would rather see the destruction of Gument than not getting their own way on policy, is where we're at.
Its a terrible position Turnbull has led us.
Their is only one thing worse than nut case left wing red raggers. Its nut case religious right wing 1st testamenters.
We are in trouble when the opinion of these dangerous idiots 'trumps' science & research.

 

[Pessimistic]

Im in a training course and read the australian for the first time in a while.

Its weird it says australia but it reads like a different country, one where victoria doesnt exist for a start

Are we really about to be crushed by invading islamist hoards? its quite scary

 

[hamohawk1]

Cant believe the whole 'dole bludger' issue is coming up again. Yes there are people who are probably getting it who shouldn't but going after them id going to burn a lot more people/ cost a lot more than it will achieve.

Also can someone explain to me the principle of cutting company taxes to help the debt deficit?

 

[Taylor]

Cant believe the whole 'dole bludger' issue is coming up again. Yes there are people who are probably getting it who shouldn't but going after them id going to burn a lot more people/ cost a lot more than it will achieve.

Also can someone explain to me the principle of cutting company taxes to help the debt deficit?

I think the idea is that individuals can't dance around the tax system as PAYG employees as well as a company can, so less tax makes the calculations for investing in Australian ventures more favorable and employ more people - who then pay extra income tax.

Like giving your mate a free ride so his kids mow your law for the rest of their teenage years - all the while he could have paid $6 a week for the lawn mowing anyway.

There must be something huge, and I think it is the entire industry of accountants, that would cause big economic or political disaster if the laws allowing money flows are changed.

Such as Tayl0r works as a contractor to a company, but that company pays the Tayl0r Holdings for her services, which is administrated by Sunny Days in the Bahamas at a cost that is practically making Tayl0r Holdings insolvent. But I own Sunny Days so the tax rate in that nation is much less, so I make more, even though my company in Australia is barely holding on because it costs a fortune to run the paperwork that we outsource to a tax haven.

 

[GreyCrow]

I think Labor should take the wind from Morrisons sails by agreeing they left a deficit of $XXX and then point out how much it has grown under the Liberals watch.

 

[Taylor]

The interest payment on the debt at the transfer was equal to our defense budget, I think. I am probably wrong there but it was above 10 Billion.

 

[JackOutback]

Cant believe the whole 'dole bludger' issue is coming up again. Yes there are people who are probably getting it who shouldn't but going after them id going to burn a lot more people/ cost a lot more than it will achieve.

Australia’s spending on unemployment benefits is actually lower as a percentage of GDP than in 2000, is well below the OECD average, and the $38 a day Newstart allowance is the lowest of OECD countries. We already target the unemployed more than any comparable country, to think there's more to get here than, say, corporate tax avoidance is laughable yet entirely unsurprising from this mob.

 

[Pessimistic]

I think the idea is that individuals can't dance around the tax system as PAYG employees as well as a company can, so less tax makes the calculations for investing in Australian ventures more favorable and employ more people - who then pay extra income tax.

Like giving your mate a free ride so his kids mow your law for the rest of their teenage years - all the while he could have paid $6 a week for the lawn mowing anyway.

There must be something huge, and I think it is the entire industry of accountants, that would cause big economic or political disaster if the laws allowing money flows are changed.

Such as Tayl0r works as a contractor to a company, but that company pays the Tayl0r Holdings for her services, which is administrated by Sunny Days in the Bahamas at a cost that is practically making Tayl0r Holdings insolvent. But I own Sunny Days so the tax rate in that nation is much less, so I make more, even though my company in Australia is barely holding on because it costs a fortune to run the paperwork that we outsource to a tax haven.

Rudd was wrong. Should have cut those parasites loose in the GFC

Whole world would be a lt better by now

 

[Upgrayedd]

IMO how much would this help out on our Budget bottom line?

https://www.theguardian.com/austral...nies-paid-the-most-and-least-tax-in-australia

 

[Pessimistic]

There's a lot of players on near 30 percent and a lot on zero

Not many in between.

Simplisticall can see a way of lower taxes for the lifters by smashing the leaners

Outfits like vodka phone and transurban fleece their customers too

That's vodaphone

 

[madmug]

There's a lot of players on near 30 percent and a lot on zero

Not many in between.

Simplisticall can see a way of lower taxes for the lifters by smashing the leaners

Outfits like vodka phone and transurban fleece their customers too

That's vodaphone

Vodka phone! Wow what a player that'd be

 

[cannot]

Name Total income $
Taxable income $
Taxable income as % of total income
Tax payable $
Tax as % of taxable income

EXXONMOBIL AUSTRALIA PTY LTD
8,464,272,972
0
0.0
0
0.0

 

[Upgrayedd]

There's a lot of players on near 30 percent and a lot on zero

Not many in between.

Simplisticall can see a way of lower taxes for the lifters by smashing the leaners

Outfits like vodka phone and transurban fleece their customers too

That's vodaphone

I'ld almost be on board for a company tax cut, However anyone on the forum, would you rather pay 25% in earning in tax or 0% given the chance? I know what i would pick

 

[cannot]

I'ld almost be on board for a company tax cut, However anyone on the forum, would you rather pay 25% in earning in tax or 0% given the chance? I know what i would pick

Would you rather have the tax payer help you support your multi wife family or would you bare the burden on your own?

how much tax is australia getting ripped off by apple, bigoil and co. compared to a few extra wife's?

why worry about the billion$$ when you can put a picture of a burka

funny there was no poll in regard to "what do you think" about EXXONMOBIL AUSTRALIA PTY LTD playing 0.0 tax

 

[NSWCROW]

Boy oh boy wowee
All those big polluters get to do so for free !!!!!!!!!!!!!!!
They can thank Ray ******* Hadley and " Closets closets closets Jones " for their old fart convoy to Canberra a few years back

DOLE BLUDGERS BUT !!!!!!!!!!!!!!!!!



Tony fighting for the right of his mates not paying tax

 

[cannot]

View attachment 318964

Boy oh boy wowee
All those big polluters get to do so for free !!!!!!!!!!!!!!!
They can thank Ray ******* Hadley and " Closets closets closets Jones " for their old fart convoy to Canberra a few years back

DOLE BLUDGERS BUT !!!!!!!!!!!!!!!!!

god dam muslims and doll bludgers

 

[NSWCROW]

god dam muslims and doll bludgers

Spoiler