Debt and Deficit - Coalition Budget Emergency

[cannot]

Spoiler

View attachment 318966

boat people too,
they are expensive the bastards

just dont look at the multinational super companies

 

[Gough]

god dam muslims and doll bludgers

Even when it was the bears, I knew it was them.

 

[Lebbo73]

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

This post is totally clueless. I used to work for East Coast Lubes as a warehouse manager. This company sells Mobil lubricants. Every State and Territory has a company completely separate from Mobil that has the right to buy their lubricants from Singapore and distribute it in Australia. They all pay tax in Australia. Mobil doesn't operate in Australia, so why should they have to pay tax as well?

 

[Upgrayedd]

god dam muslims and doll bludgers

Probably also funding terrorism by purchasing Halal Vegemite.

 

[Benny78]

Where is Treasurer Keating? He's not much older than Trump if I recall. Since Malcolm likes him so much maybe he could take Morrisons job.

 

[Benny78]

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 !!!!!!!!!!!!!!!!!

View attachment 318965

Tony fighting for the right of his mates not paying tax

******* disgusting! All those **** should be imprisoned!

 

[Gough]

Probably also funding terrorism by purchasing Halal Vegemite.

A great achievement of multi cultural Australia. Our national dish can be enjoyed by all Australians.

 

[Upgrayedd]

Where is Treasurer Keating? He's not much older than Trump if I recall. Since Malcolm likes him so much maybe he could take Morrisons job.

What type of madman would take a treasury job where your task is undermined by people above you who are idealogicaly driven. Your choices are privatize everything or cut middle/lower class welfare. Not trying to just completely bag them out either but labor got spooked and threw the baby out with the bathwater when gillard government made tough choices so i doubt the man behind that would make any tough inspired reform either

 

[Pessimistic]

Where is Treasurer Keating? He's not much older than Trump if I recall. Since Malcolm likes him so much maybe he could take Morrisons job.

Keating and Kennett

 

[Moo]

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

I've paid more in fines for being late on my BAS than they've paid taxes ...>FMD

 

[Pessimistic]

Starting to cut their own "entitled" programs now.

I'm just imagining the howls from the usual voices if this had been a Gillard scheme

so 185mill for 200 families is almost 100k per family AND they had to pay a per hour cost.

Nanny pilot program slashed in mid-year budget update due to low numbers of families signing up
AM
By Caroline Winter
Posted 52 minutes ago

RELATED STORY: Call for nanny pilot to include distance education
RELATED STORY: Turnbull's $185 million nanny program 'only helping 60 families'
RELATED STORY: Government caps places offered in nanny trial due to low demand
MAP: Australia
A national nanny pilot program aimed at helping parents juggle work and family has been slashed in the mid-year budget update, less than two years after it was introduced.

Key points:

• Federal Government decided to cut $170 million from the $246 million trial
• Only 200 families signed up to the program, a fraction of what was expected
• Subsidy set up left it more expensive for families with one or two children

Only 200 families had joined the scheme, so the Federal Government decided to cut $170 million from the $246 million trial.

 

[GreyCrow]

But Jobs and Growth!

 

[Xsess]

I propose we "name" recessions in much the same way we do cyclones.

We could call this one Kevin Gillard.

 

[Watchyourwaite]

I propose we "name" recessions in much the same way we do cyclones.

We could call this one Kevin Gillard.

Why? Cos they caused it? Or because some bitch called Tracey was behind what happened in the NT?
Do you even think before you post? Or is it like an uncontrollable bowel movement?

 

[GreyCrow]

I propose we "name" recessions in much the same way we do cyclones.

We could call this one Kevin Gillard.

meh tropical storm

 

[Pessimistic]

I propose we "name" recessions in much the same way we do cyclones.

We could call this one Kevin Gillard.

So the last one was John Fraser ?

 

[Pessimistic]

Anyway what did Rudd or Gillard put in place that was recurrent spending

Seems to be mainly one offs as I see it

 

[Pie eyed]

ROFL at Morrison still trying to blame someone, anyone for his piss poor excuse for a governments sextupling of the deficit.
Any man with a hint of honour would fall on his sword.
He'd need to drug his hand the flog is so insignificant.

 

[DaRick]

Governments are not households. Household or business debt is invariably undesirable, but whether or not a government deficit is undesirable depends on the state of the economy. If the economy is in danger of recession, as ours is, investment in infrastructure, research or just giving money to poor/middle-class people or even small businesses historically has helped to stimulate growth. Without government investment into an ailing economy, business then has to pick up the slack by taking on more debt to fund their business plans or make capital expenditures. This is all well and good when their business is booming, but businesses tend not to boom in recessions because nobody has any money to purchase their products. So what we are often left with is a business with excessive debt - a recipe for disaster especially when you can't even service the interest payments.

Also, with government cutbacks to spending, the RBA has set interest rates very low in order to encourage individuals and businesses to incur more debt. However, such debt can be used to gamble on financial assets, such as property. This forces individuals to incur more debt in order to be able to afford housing etc., in the first place. Not a great situation, especially in times of recession when people lose their jobs and can't afford to service such debt.

A surplus is most desirable to obtain when the economy is booming and the level of growth is clearly unsustainable, in that inflation rises too quickly or is accompanied by environmental deterioration, since this affects the health and therefore productive capacity of individuals (and also leads to more workers compo claims and unwanted media attention, which is bad for business).

Since we are most clearly not in that situation, IMO the LNP's stated goal of a surplus is IMO idiotic. No doubt that ALP would bash them for failing to curb the government's deficit for political reasons, but it will be easier for the LNP to then bash the ALP for it once they are in opposition since both sides (though moreso the LNP) have made it a part of our political discourse that government deficits = bad, government surplus = good.

It would actually be good governance and politics for the ALP to maintain the deficit and explain to the Australian public exactly why it is necessary - but I doubt this will happen. Maybe some glib soundbites like 'government surpluses are bad for working families' or 'government surpluses will increase your mortgage' would do the trick, I dunno.

Also, the government debt to GDP ratio is around 35% anyway, which is not particularly high. A government debt to GDP ratio of over 100-125% has historically been a hyperinflation risk, and even that risk is much more prevalent in politically unstable countries (Weimar Germany) with weak, undiversified economies (Zimbabwe).

Anyway, that's my two cents on the government deficit and why talk of reducing it is just playing politics. Maybe I'm wrong, but I honestly dunno.

On another note, despite the LNP's stated goal of cutting the deficit and the apparent reduction in government spending, the debt to GDP ratio has actually increased. What has caused this? Must be that economic growth has not kept pace with government spending?

 

[Gough]

The ALP went to the last election, and admitted the deficit under their policy would rise, Scott Morrison reacted as though somebody had s**t in his bed.

 

[Maggie5]

https://www.theguardian.com/austral...d-to-chase-donald-trump-on-corporate-tax-cuts

Taylor makes some valid points in this article, worth a read.

And on a trip to London the treasurer has duly started his new and improved sales pitch with a dire warning. If parliament doesn’t pass the tax cuts we’ll be “stranded” because the UK is reducing its tax rate to 17% by 2020 and Trump wants to reduce the US rate to 15%.

Treasury modelling did show the planned tax cuts would boost economic growth, a little bit. But there was no way to compare that increase (0.6% of gross national income in a decade’s time) with other things that might have been done with the money.

And there were no answers to questions about how we would manage the revenue shortfall, at a time when Australia is struggling to pay for things like hospitals and schools and when inequality is already rising, nor any analysis of the social and economic consequences of even more cuts to services.

There was the complicating factor of Australia’s unique dividend imputation system, which meant the real tax rate for local investors is lower than the headline rate.

 

[Crankyhawk]

I agree with the sentiment but referring to inefficient and unnecessary payments to families. That said, workers pull more than their fair share in the tax burden, so yes I agree re your concern. Rather than family payments, how about the government extend its education offering to day care. This would take a massive burden off single parents and working families.

My other big gripe is medicare for citizens not living here. If people want medicare when they are overseas, they should pay a levy or not be entitled to the health benefit.

How does Medicare while you are overseas work? Apart from reciprocal rights countries?

And what do you see as a fair wage for medical staff (given your opinion that the waste in medical system is lining doctors pockets). I agree there is waste but think it's more from unnecessary investigation due to patient demand/ litigation fears leading to suboptimal practice. Or waste generated by treating iatrogenic complications.

 

[Crankyhawk]

thanks Maggie

not quite the angle I was referring to but yes we should have exceptions for those paying taxes in those countries.

I was referring to citizens living and paying taxes in places like Lebanon and then flying in for free health

We don't give them free health - uninsured overseas visitors have to stump up $480 to see the emergency department. However it isn't an upfront payment (likely related to moral imperative) and yes some do not pay. Others use a relatives Medicare card, particularly with common surnames.

 

[Power Raid]

How does Medicare while you are overseas work? Apart from reciprocal rights countries?

And what do you see as a fair wage for medical staff (given your opinion that the waste in medical system is lining doctors pockets). I agree there is waste but think it's more from unnecessary investigation due to patient demand/ litigation fears leading to suboptimal practice. Or waste generated by treating iatrogenic complications.

I know a lot of people who would be on over $100k pa and many over $1m pa overseas and not paying the Medicare levy but have Medicare. It is only reasonable that they pay the levy if they want Medicare.

The lining the pockets issue is easily fixed by a $10 surcharge, a professional public on line feedback system on doctors, caps on wages and getting rid of quotas for training.

 

[Power Raid]

We don't give them free health - uninsured overseas visitors have to stump up $480 to see the emergency department. However it isn't an upfront payment (likely related to moral imperative) and yes some do not pay. Others use a relatives Medicare card, particularly with common surnames.

That's true but the issue is those on Medicare, living overseas and not paying the levy.

Medicare has started to clamp down on this issue since the original post