Australian (ASX) Stock Market Forum

The ScoMo Government

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Can we wrap this thread up? ScoMo is clearly a dead duck, he probably should not of stood for the leadership, would of been better to let the wreckers have Dutton and do a thorough job of the wreaking then take over after the election in opposition.
 
Smurf1976 said:
Welfare spending basically fits into 4 broad categories:

1. Those who spent all they earned and didn't provide for their own inevitable future needs.

2. Middle class welfare for the sake of it.

3. Those who suffered some sort of misfortune.

4. Those who rort the system.

With the vast majority of spending being on the first two - the elderly and families with kids.

Politically, well neither party seems likely to reign in middle class welfare anytime soon and we've got one major party pushing everyone toward the pension anyway so it's a given that welfare spending is going up not down.

For what's left, well nobody's going to target the disabled (fair enough) and the other things (eg unemployed) are too few $ to be worth worrying about. :2twocents
Click to expand...




Missed the big one Smurf

5. Corporate welfare



 
IFocus said:
Missed the big one Smurf

5. Corporate welfare
Click to expand...
Can't argue with that.

In my mind I was thinking of things which are either legitimate or at least pretend to be but yeah, corporate welfare is a huge one.

Australia Vs Qatar and the gas industry is just one example of many - and Qatar seems to be wisely investing those royalties building up an international airline, tourism, financial sector and so on.

Here's another tax avoidance mechanism and believe it or not, it's legal: https://www.abc.net.au/life/what-salary-packaging-is-and-how-it-works/10830070

There might be the odd case where it makes sense, superannuation contributions for example, but leasing a car? Just no, that's more middle class welfare right there.

My own view is simplify the whole lot as much as possible, no ordinary worker should need professional advice to fill out their Tax Return that's just silly, and keep welfare as a safety net for those who have genuinely suffered some unfortunate occurrence in life.

As I said to the person conducting an official opinion poll who asked me a few days ago, I'm not overly impressed with the present government but there's nobody else I'm convinced will actually do much better. It's not like 1993 when there were two well thought out but substantially different visions on offer. :2twocents
 
Another dose of egg on face for the ScoMo (non) government.
Apparently they tried to use Federal Treasury advice to trash the Labour Partys' negative gearing proposals.
Trouble was Treasury din't actually say that - and the story has come out.

Federal Treasury scolds Coalition for exaggerating impact of Labor's proposed negative gearing overhaul
https://www.abc.net.au/news/2019-03...ition-labor-negative-gearing-changes/10873514
 
basilio said:
Seems like it would have made more sense for the Libs to have gone to an early election late last year so they could then blame Labour for the recession.:rolleyes:

Oops. Actually they can still blame Labour can't they ? Just because they can ???:)
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Looks like it will once again be Labor's lot to inherit a financial/ economic crisis.
 
SirRumpole said:
Looks like it will once again be Labor's lot to inherit a financial/ economic crisis.
Click to expand...
Sadly i agree and their expected dumb spending policy which has been so ineffective on the long term everywhere will make sure australia is the next Argentina/Chile
Our politicians are well paid already but i think a taxpayer tour od these two countries should be mandatory.At least, they could not pretend not knowing what is ahead .history does repeat.
a bit off subject
 
What's with Morrison doing a Trump style stunt in visiting Christmas Island.
Is he there to build a wall or roll out the red carpet.
 
I don't see how wages can keep going higher. Bills for various services and utilities need to start dropping along with rego, rates, electricity, even food.

People have stopped spending as they are too stretched. But imo wages are already at the high end of the scale that we are seeing negative effects.

Prices need to drop over the board. Council and government greed and gouging need to be cut back.
 
How tough should mutual obligation be for welfare recipients? What is like trying to exist on $225 a week in OZ in 2019 ? Read the story and ask how you would feel in such a situation.

Life on the breadline: Centrelink's 'mutual obligation' is a system of humiliation
Nijole Naujokas
You might think it’s easy to jump through hoops but the hoops keep growing and moving around and you can still lose your payments
https://www.theguardian.com/austral...-mutual-obligation-is-a-system-of-humiliation
 
basilio said:
The Guardian Series Life on the breadline was written by people not journalists. These are the people who for a range of reasons are not in paid work and struggling to live on Newstart.

They are also willing to expose themselves and their difficult lives to challenge current government policy on slow starvation Newstart allowances.
https://www.theguardian.com/australia-news/series/life-on-the-breadline
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Jesus
There is no way you would starve in this country unless you were an utter idiot.
Too many services.
 
"Nice" story Tink. Have to say the response of people to this sheer rubbish is very strong. Well worth a reality check if you click onto the link

Replying to @JoshFrydenberg @billshortenmp @FinancialReview
Well Josh you’ve been backing businesses for 6 years how come the workers haven’t had a pay rise in all those yrs when business profits are up 20% ????

c76174a79bdcccc3142de18936254a91_bigger.jpg Ron Jones
❄‏ @RBJRON
Replying to @JoshFrydenberg @billshortenmp @FinancialReview
Lets see a business without customers you dope. Customer's provide cash flow, no disposable income to spend no income for business's

9:14 PM - 7 Mar 2019
Some Bloke‏ @Leahym34Some Mar 7


Replying to @JoshFrydenberg @JanGulli12 and
Workers used to be thought of as an asset by business owners , but under this government they are thought of as a liability.
MormorLady‏ @mormorlady Mar 7


Replying to @JoshFrydenberg @billshortenmp @FinancialReview
Give it up Joshie If the ordinary consumers don't have the money to spend those companies are going to go bust ..... thought you were supposed to understand basic economic matters!!

1 reply 3 retweets 16 likes
 
IFocus said:
Problem is Smurf if anybody proposed a Qatar option all hell would break loose claims of socialist state etc Labor couldn't even get a mining wealth tax up how much did that cost us?
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Because it was dumb, we can't get them to pay tax on profits and we were going to get them to pay tax on super profits. FFS
Why didn't they put the tax on volume?
The only one who suggested it, Brendan Grylls, was soon thrown out.
Australia's going to get exactly what it deserves. IMO
 
SirRumpole said:
Looks like it will once again be Labor's lot to inherit a financial/ economic crisis.
Click to expand...
Yep best get the excuses primed locked and loaded.
Actually what Labor is proposing, will make budget surpluses a shoe in, I just don't think the average working person is going to like the outcomes.
Just my opinion.
 

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