Tax the rich?

[Trump]

Some light reading:

http://www.theage.com.au/comment/bud...512-zr9o3.html

[Polyal]

Originally Posted by MAD

It depends where you go afterwards.
I used a lot of math in my first years at TAFE out of VCE (Computer systems & Electronics)
Then I used physics and good old Pythagoras a crap-load at uni for Mechanical Engineering, and still do in the day job work.

But, there's heaps of Thermodynamics, and metallurgy that I don't use, but does that mean I shouldn't have learn it? No. Every step along the education path is a refinement on where you're heading.

True that. Mech Eng here and to say I am using everything from uni would be..well..a lie.

BUT, I use snippets of subjects sometimes without noticing until after the fact.

I haven't paid to much attention to the changes coming up yet and will get angry when I know more, but if the Gov thinks that stripping anyone of everything just because they are earning over $100k is going to help then that makes me a bit annoyed. 3 kids on $100k doesnt actually go far, but it was my choice..life goes on.

[GasoLane]

And now................ Back on topic please.

[MAD]

Originally Posted by Loud_Noises

Some light reading:

http://www.theage.com.au/comment/bud...512-zr9o3.html

I'd love to have a income of $1.10, a business that can't make profit, but somehow still drive around in one of Europe's finest automobiles, and live in an inner city suburb with more land that what's on offer in new estates in Pakenham.

I guess all the math I ever learned was wrong. 2+2 really does equal 5.

[Trump]

All men are created equal, some are just more equal than others.

[Work Horse]

Originally Posted by Work Horse

Have I woken up in a parallel universe?!

The Liberal government wants to increase the tax of people earning over $180,000?!

AND

The Labour and Greens opposition are opposing increasing the tax of people earning over $180,000?!

I'm scared to look in the driveway for fear my Ford has become a Holden!

Crisis averted!

There is still a Ford in my driveway.

The Liberal government is not bringing in a new tax for earners over $180,000.

Is a LEVY!

The Labour opposition is not opposing increasing the tax of people earning over $180,000.

They are holding the government to account for doing a back flip on an election promise not to bring in new taxes. Seriously, the "No Carbon Tax” Labour party.

And the Greens have released a statement to say Christine Milne is recovering well from her "Rectal relocation"*. Christine would like to thank the crew of Sea Shepard and the Dalai lama for there well wishes.


*Rectal relocation is PC speak for having your party room rip you a new one for making a policy announcement without consulting them first.

[Charliewool]

I might be better off posting this in the memory lane section?
But, anyhow... I'm looking for any over 50's to employ.
Critera is: must not have worked for previous 6 months and must commit for 2 years.
Wage will be minimal. Duties are "who cares"... BUT... I'll give you a once only payment of $2500 after 2 years service! ($7500 for ME!!)
Takers?
Oh, forgot to add... "See ya later" after you've done your 2 yrs!

[2011G6E]

I just want to know where all the jobs for people in their sixties up to 70 are suddenly going appear from...

There's more to life than work, and you want to be able to retire while you are still physically able to get out and enjoy life a bit once you stop working. Then again, keeping people paying tax as long as possible is the main point.

I recall a retirement expert and seniors group spokesman on TV one day strongly criticising people who retire "early", and that you should stay in the workforce while you are able...into your eighties, further if you can, never stop working if possible would be best (presumably just try to give some explanation to your grandkids as to why there's no jobs around). In fact he hoped to be carried out feet first from his job "with a smile on my face". I'm sure his family would love his dedication and the way they were obviously a distant second to his job in his eyes...

He gave as a prime example his "younger brother" who had worked hard and financially organised things so he could retire early at 55...the lucky sod. He was "wasting his life" by going off around the country in a mobile home with his wife, seeing the country and fishing and golfing. The "expert" couldn't imagine a fate worse than this, and said it was a "waste" of someones time when they could be working...for someone else...making sure your boss can retire early...

As Rebel said in the Greatest Australian Movie In History, "Running On Empty"..."I guess the idea of being free just scares some people s**tless...


One point that's being forgotten with increasing tax rates...you are only encouraging people to look for loopholes and tax dodges and ways to avoid tax. Look at the explosion of "cash jobs" or "cash prices" you are often offered by tradesman since the GST came in. Same thing.

[Trump]

Is it just me or is the budget nowhere near as "bad" as the media and other talking heads have been making it out to be?

Some notes:

- No mention of negative gearing.
- No mention of removing tax concessions for the super rich.
- No mention of the NBN black hole.

Getting rid of negative gearing and tax breaks for super would have obliterated the deficit in one year.

[2011G6E]

Originally Posted by Loud_Noises

Is it just me or is the budget nowhere near as "bad" as the media and other talking heads have been making it out to be?

Nope, not bad at all.
Unless you're a taxpayer.
Or plan on going to the doctor any time soon.
Or put fuel in your vehicles.

Other than that, it's great!!!

Get rid of negative gearing? Fine...throw away the main reason many people get into investment properties for rentals. It's not a bloody charity...people buy into rentals to make money and usually reduce their tax. They don't do it out of a social conscience and will just ignore that they basically get no benefit out of it without the tax breaks.
Get rid of tax breaks on super? Fine...I'd straight away stop paying extra money into my super on top of the compulsory amount and just need more pension when I retire. Once again, I do it for my own benefit and to get a tax break out of it...I don't do it for the good of the nation.

I notice they're still lying to people that a nation is just like a household and that debt is evil. No it isn't...when it comes to a nation or a state, DEBT IS GOOD...it allows you to easily build and do big things, while servicing it at a low cost over many years. A household is different...the breadwinner has a finite working life to service the debt, unlike a country or a state.
Look at the increase in fuel tax for one...we were told it was part of "paying off the debt" and "addressing the shameful interest left from Labor", etc. Then they said the extra money is being spent on road building...apparently. So what does this do to the interest and the debt? NOTHING...

At least if you're going to do that to us, use a little lubrication...

And yes, they could address the deficit in a couple of years completely...they just have to stop spending on new promises. Get rid of the national disability scheme, get rid of parental leave payments (is your kid more important or your career path, ladies? Stay home and don't expect me to subsidise your choices).
Taxation income to the government grows at 7% a year, yet costs only grow by about 3% a year. Simple.

[Stefan]

Originally Posted by Loud_Noises

Is it just me or is the budget nowhere near as "bad" as the media and other talking heads have been making it out to be?

Most mainstream media are pro labor including the non-partial ABC.

Labor, especially Rudd have never received the lashing they deserved for their mismanagement of the country.

Gee Julia is on the border of criminal charges for falsifying documents while a lawyer, you wouldn't know it though from the mainstream media. If that was Abbott there would be a media firestorm.

[Trump]

Originally Posted by 2011G6E

Nope, not bad at all.
Unless you're a taxpayer.
Or plan on going to the doctor any time soon.
Or put fuel in your vehicles.

Other than that, it's great!!!

I notice they're still lying to people that a nation is just like a household and that debt is evil. No it isn't...when it comes to a nation or a state, DEBT IS GOOD...it allows you to easily build and do big things, while servicing it at a low cost over many years. A household is different...the breadwinner has a finite working life to service the debt, unlike a country or a state.
Look at the increase in fuel tax for one...we were told it was part of "paying off the debt" and "addressing the shameful interest left from Labor", etc. Then they said the extra money is being spent on road building...apparently. So what does this do to the interest and the debt? NOTHING...

At least if you're going to do that to us, use a little lubrication...

The idea of using debt to build infrastructure is a good one, if you ignore one thing. Tax receipts will begin falling once manufacturing goes off the cliff and the service economy job market becomes saturated. The creditors will want payment and I wouldn't put it past them to take posession of said infrastructure. At the very best it would lead to mass sell off of public assets (AusPost, Medibank Private, universities, rail and road infrastructure).

That is merely looking at it from the perspective of money in/money out. If one looks at it from the perspective of banks being responsible for 95%+ of the "currency" in circulation (via credit cards and other debt based instruments of credit), the situation is far more diabolical than the doom and gloom painted by the treasurer and the media. A debt based currency is a recipe for disaster and no amount of fiscal responsibility by govco would solve the problem. The banks will ultimately own everything as there is nowhere near enough actual currency to pay back these debts, public and private.

[fordomatic]

Not entirely sure why everyone has this "keep the money in your pocket" stuff. Leaving that to one side I found it very comical how Hockey arrogantly thinks he is helping people by building new toll roads, the revenue for which will come through petrol indexation. Then they will privatize the roads with increased tolls, thereby making it even harder for people out west to use them. Arrogant that he just assumes we wouldn't notice. But that's a side issue.

[Lotte]

Originally Posted by Stefan

Most mainstream media are pro labor including the non-partial ABC.

Labor, especially Rudd have never received the lashing they deserved for their mismanagement of the country.

Gee Julia is on the border of criminal charges for falsifying documents while a lawyer, you wouldn't know it though from the mainstream media. If that was Abbott there would be a media firestorm.

What planet are you on?

[mcnews]

That is some serious comedy right there :-)
Media left wing, lol, that's crazy. The media is farily centre overall. It is just that basically all parties bar the greens are now so far right of centre things have been redefined what is left and what is right, Labor is right of centre now no doubt about it.

[tranquilized]

Originally Posted by Stefan

Most mainstream media are pro labor including the non-partial ABC.

Labor, especially Rudd have never received the lashing they deserved for their mismanagement of the country.

Gee Julia is on the border of criminal charges for falsifying documents while a lawyer, you wouldn't know it though from the mainstream media. If that was Abbott there would be a media firestorm.

Originally Posted by Lotte

What planet are you on?

Exactly!! Pro-Labor media in this country!?!

You can't be serious? I guess you think Rupert Murdoch is pro-Labor also? Dude, get a grip! Go and sit way over there on the faaaaaar right with Cheap where we can't hear you.

[pottery beige]

greens smoke to many bongs at uni

labor scored to many bongs off greens at uni

to many bongs to run a country with a dose of reality

go smoke bongs

yay

[tranquilized]

Originally Posted by mcnews

That is some serious comedy right there :-)
Media left wing, lol, that's crazy. The media is farily centre overall. It is just that basically all parties bar the greens are now so far right of centre things have been redefined what is left and what is right, Labor is right of centre now no doubt about it.

For sure. The vast majority of mainstream media are so far right, that anything that is centre, or even maybe slightly left of centre, comes across as extreme lefty craziness. People have lost perspective.

[gtfpv]

*well , i'm so happy after listening to the pompas budget , cut funding to universities and provide jobs for the boys , and offspring , it will also help my kids not to get a mortgage before 30 , i wont sell my home now and downsize as i'm expecting spouses living here soon .
how great it must be to be young . and the medical future fund will make sure that the flu only effects opne person at a time , so we wont have to fork out for the whole extended family at the docs ( thats called safe gaurding ) .
i'm pretty sure the mining tax not happening , saving gina and co $20 000 000 000 pa in revenue for this country will be a +++ for businesses , with the new 457 visa arrangements i'm expecting big things for big business , and hi salaried superfunds . i'm hopefull now inflation and superannuation will flourish , infact my super will have 5 more years of growth before they pay me out, ohh wait , give me some of it , ohh wait ,,, pay me a capped pension , ohhh wait , tax it heavily 1st,,,, ohhh wait , whatever .

[2011G6E]

Yep...workers are entering a new dark ages where they are expected to be just happy to have a job, shut up, and don't ask for anything.

My employer has just gone to the commission to request that all our enterprise agreements be cancelled because no worker wants the "suggestions" for new agreements that they demand. Stuff like no set start times for your shifts, be on call all day long so you don't know when to sleep or be able to plan a private life away from work (but then that's the idea I believe..."work is your life"), etc. We already do 365 days a year, with no public holidays, 24 hours a day. Isn't it at least a little fair that we have a few rewards for doing this'


This government has shown its stripes early...tax the hell out of everyone, lie that national debt is a bad thing (if we're so badly done by, why do we still have a AAA credit rating?), and make people think that by paying more for everything you are somehow "saving the country" and "doing the heavy lifting".

Dark days ahead.

[jpblue1000]

Originally Posted by 2011G6E

, get rid of parental leave payments (is your kid more important or your career path, ladies? Stay home and don't expect me to subsidise your choices).
.

Actually I'm willing to bet the the reality is a paid parental scheme will pay for itself long term.
Another worker is born adding to the tax gathered throughout its life.
The parents are incentivised to breed, the current breeding generation are not having 1 for mum, 1 for dad and one for the country, they are interested in their careers so breeding needs that incentive which in reality is a panacea for the damage it could do the career, but dont tell them that. And finally the payment incentivises people who contribute a net gain to the tax take, keeps the money earners working and doing what they do benefiting society. It is a welfare payment but one that is an investment in the future!

JP

[Franco Cozzo]

Well boys out on the streets with signs in August 30/31? There is another planned protest day.

[zilo]

Cool....the company tax rate cut by 1.5%


I love owning a business with the Libs at the helm.

Thanks Joe Hockey (even though I didn't vote for you I knew you'd come through with the cash)

[mcnews]

Originally Posted by jpblue1000

Actually I'm willing to bet the the reality is a paid parental scheme will pay for itself long term.
Another worker is born adding to the tax gathered throughout its life.
The parents are incentivised to breed, the current breeding generation are not having 1 for mum, 1 for dad and one for the country, they are interested in their careers so breeding needs that incentive which in reality is a panacea for the damage it could do the career, but dont tell them that. And finally the payment incentivises people who contribute a net gain to the tax take, keeps the money earners working and doing what they do benefiting society. It is a welfare payment but one that is an investment in the future!

JP

More indoctrinated welfare that is all it is. They should be made to line up in the street outside the WELFARE OFFICE to receive it each week. It is simply again asking everyone else to pay for people's own life choices. Pathetic.

[Polyal]

So if the NBN black hole wasnt bad enough then what is this joke of a medical centre?

Dont get me wrong, disease is a horrible thing but can Australia (right now) afford to be spending 20B into this when we cut FBT for familys to save 1-2B...how does that work.

The amount of jobs it will create Im guessing will be insignificant to that of our total job seekers. Where are the initiatives to make sure we dont rely on mining so much?

[Dash_XR]

That is one, medical research will probably end up being one of our last export industries. Timing probably could of been better though.

[mcnews]

School chaplains

$245 million over five years

Hockey said the federal government didn't run schools and hospitals. It is a state issue.

Apparently religion is a federally funded enterprise.

[Trump]

Originally Posted by Polyal

So if the NBN black hole wasnt bad enough then what is this joke of a medical centre?

Dont get me wrong, disease is a horrible thing but can Australia (right now) afford to be spending 20B into this when we cut FBT for familys to save 1-2B...how does that work.

The amount of jobs it will create Im guessing will be insignificant to that of our total job seekers. Where are the initiatives to make sure we dont rely on mining so much?

Interesting, there has been no mention of the NBN. Has it gone off the books?

[XWGT]

The NBN is a basket case. No amount of money is going to get that back on track in the next 15 years.

Prepare for it to fade to black.

As for raising the pension age to 70, we all understand it has already been raised to 67 correct?

[Trump]

Originally Posted by XWGT

The NBN is a basket case. No amount of money is going to get that back on track in the next 15 years.

Prepare for it to fade to black.

As for raising the pension age to 70, we all understand it has already been raised to 67 correct?

Time for the sleepy needle me thinks (for the NBN, not old people ).