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- 3 July 2009
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I don't expect things to be fixed in a day, but I do expect to have a feel for a coherent strategy by now, and there doesn't seem to be one.
lets look at the CoA. Loaded with economic dries and ignores the politics of the changes that need to be made. Little in the it that can help the Government educate (for want of a better word) the public on why the changes are desirable.
Worse, the Government set the terms of the CoA so narrowly and explicitly ignored:
* The GST
* $120B+ of tax expenditures.
If I'm going to pay for an audit that I plan to use to help get my finances in shape, I'm not going to hobble the audit by setting up major areas of my finances as off limits. That's what this Government has done. It's not economically rational.
As for super, we can no longer afford the current system. Something fairer where everyone gets the same tax expenditures each year is probably the best way forward. At least that would be a progressive system rather than the massively regressive system we currently have, but the Abbott Govt has already sided with the 16000 super fund members earning over 100K tax free each year over the couple of million members who were to benefit from the LISC. The Abbott Government purposefully told the CoA to ignore this issue. To me if a system is costing around $60B a year then it's ripe for some massive savings.
Throw in an ex banker heading the financial services review I don't expect any changes, especially when you read about the scandals now coming out regarding financial planers at the CBA under his time as CEO. Funny how that kind of corruption is ignored, but the merest whiff of union corruption gets anyone on the right into a near rabid frenzy. Damning that ASIC ignored it, damning that Labor allowed them to as well.
There seems like a stratergy to me, you may not like it, but it is more coherent than Labors was.
Talk about a near rabid frenzy, I would say that pretty well covers the chorus against the governments every idea and that's before a budget is put in place.
Well at least the frenzy over 'they will never be able to stop the boats' seems to have abated.
Now all we have to do is wait and see what happens fiscally, maybe then all the screamers and lefties will be proven wrong yet again.
It is really hillarious watching Shorten on t.v, trying to pretend they had nothing to do with the fiscal situation, he is a real goose. I must say though, he has all the makings of a Labor treasurer, thick skin, look straight in the camera while bulls###ing.lol