The Abbott Government

[drsmith]

Now if the Green/Labor socialist left wingers would help scrap the carbon dioxide tax, the pensioners and the hard working families will be $550 better off.

Don't worry about them.

Uncle Clive and his (cough) ol-mate Al Gore is coming to the rescue on the carbon tax.

http://www.abc.net.au/news/2014-06-...n-tax-but-courts-gore-in-push-for-ets/5549938

 

[noco]

Don't worry about them.

Uncle Clive and his (cough) ol-mate Al Gore is coming to the rescue on the carbon tax.

http://www.abc.net.au/news/2014-06-...n-tax-but-courts-gore-in-push-for-ets/5549938

Al Gore is the greatest conman of the century......he is up to his eye balls in this ETS and has several companies set up around the world and it looks like he has sucked in Clive Palmer to invest some of his 'hoot' in his scam.

For what other reason would Palmer be associated with Al Gore?


The U.S. Senate voted 95 to 0 not to ratify the Kyoto treaty in 1997. But that hasn’t stopped Al Gore.

Gore’s Circle of Business

Al Gore is chairman and founder of a private equity firm called Generation Investment Management (GIM). According to Gore, the London-based firm invests money from institutions and wealthy investors in companies that are going green. “Generation Investment Management, purchases — but isn’t a provider of — carbon dioxide offsets,” said spokesman Richard Campbell in a March 7 report by CNSNews.

GIM appears to have considerable influence over the major carbon-credit trading firms that currently exist: the Chicago Climate Exchange (CCX) in the U.S. and the Carbon Neutral Company (CNC) in Great Britain. CCX is the only firm in the U.S. that claims to trade carbon credits.

 

[sydboy007]

If Labor and the small parties continue to obstruct the government's legislation in the Senate, the government are going to find it very difficult to do much about controlling the projected increasing expenditure.

Given the lack of any other evidence of cohesive policy from Labor, we might assume that this is their objective, i.e. being able to say as the next election rolls around "well, you've had three years to do something, and we're still in the same position ."

It's certainly hard to conclude that Labor has any more concern now for debt than they did when in office.

To be fair, the Liberals did help to destroy the resource tax which WOULD have generate da lot of revenue, helped to cap the rise of the AUD and left us with more of the proceeds of the resource boom staying in the country. It would also probably have helped to stop the massive over investment that has occurred, and we'd probably see the ToT not falling as badly due to what is looking like a 30% oversupply on the seaborne iron ore trade, as well as the massive oversupply of thermal coal.

Abbott also protested against the changes to the statutory method for calculating car FBT, removed the changes to taxation on super pensions over 100K a year.

They've also committed themselves to repealing the carbon tax which does generate quite a bit of revenue, but has decided not to remove the compensatory tax reductions, while also increasing Govt expenditure in the area via DA. There's also his PPL policy which is massively expensive compared to Labor's PPL scheme.

So while Labor certainly could have managed things a lot better, Abbot has to share some of the blame for the state of the budget because he generally opposed most of Labor's efforts to increase revenue.

 

[Logique]

There's your precious Abbott government.

Welching on a promise to Tasmanians, and meekly surrendering to the UN. I hope the Coalition enjoys having those 4 out of 5 Tasmanian seats, because they won't hold them for long.

http://www.heraldsun.com.au/news/op...966862054?nk=2cba29acabf9948fa4988d9e4f12494c

..Abbott promised to change that, declaring: “Tasmania needs to be an economy as well as a national park.”
Result: the Liberals won four of Tasmania’s five seats.......

...But here’s the problem: the UN’s World Heritage Committee this week took less than 10 minutes to tell the Abbott Government no. It refused to delist the 170,000 hectares of our own forest [and plantations/cleared areas] on the grounds that it would set an “unacceptable precedent”.

Other countries might then decide to do with their sites what they felt best. In a clash on domestic policy between the UN and an elected government with a mandate, I’d expect the elected government to win.

But the Abbott Government, apparently feeling too embattled to start another brawl, has declared it “accepts and will consider the decision”, one which obliges it to keep out the loggers, after all....

 

[sptrawler]

To be fair, the Liberals did help to destroy the resource tax which WOULD have generate da lot of revenue, helped to cap the rise of the AUD and left us with more of the proceeds of the resource boom staying in the country. It would also probably have helped to stop the massive over investment that has occurred, and we'd probably see the ToT not falling as badly due to what is looking like a 30% oversupply on the seaborne iron ore trade, as well as the massive oversupply of thermal coal.

Abbott also protested against the changes to the statutory method for calculating car FBT, removed the changes to taxation on super pensions over 100K a year.

They've also committed themselves to repealing the carbon tax which does generate quite a bit of revenue, but has decided not to remove the compensatory tax reductions, while also increasing Govt expenditure in the area via DA. There's also his PPL policy which is massively expensive compared to Labor's PPL scheme.

So while Labor certainly could have managed things a lot better, Abbot has to share some of the blame for the state of the budget because he generally opposed most of Labor's efforts to increase revenue.

Interesting comments from Treasury chief and Turnbull.

http://www.smh.com.au/federal-polit...labor-over-budget-attacks-20140630-3b3xd.html

 

[sydboy007]

Interesting comments from Treasury chief and Turnbull.

http://www.smh.com.au/federal-polit...labor-over-budget-attacks-20140630-3b3xd.html

"Looking at Australia's tax regime, you would say that it is too tough on people earning income, i.e. the entrepreneurs, the people who are growing [the economy], younger people working hard ... it's too tough on them and it is incredibly concessional to older people who have made their money."

---------

Below graphs shows we're going in the wrong direction in terms of taxing corporate profits and labour income. I doubt the current Govt has the ticker to change how things are going. They wont tax resources, they wont increase tax on consumption, but they are increasing taxes on income.

The most efficient taxes target resources / land / consumption, so unless they plan to move the Australian tax base towards those areas it will be just more of the same and their criticism of Labor will be equally applicable to themselves.

 

[sptrawler]

"Looking at Australia's tax regime, you would say that it is too tough on people earning income, i.e. the entrepreneurs, the people who are growing [the economy], younger people working hard ... it's too tough on them and it is incredibly concessional to older people who have made their money."

---------

Below graphs shows we're going in the wrong direction in terms of taxing corporate profits and labour income. I doubt the current Govt has the ticker to change how things are going. They wont tax resources, they wont increase tax on consumption, but they are increasing taxes on income.

The most efficient taxes target resources / land / consumption, so unless they plan to move the Australian tax base towards those areas it will be just more of the same and their criticism of Labor will be equally applicable to themselves.

I thought you would like that part. lol

Shame you didn't take anything, from the rest of the article.

 

[Julia]

I doubt the current Govt has the ticker to change how things are going.

They can do their best, but if consistently blocked by your Labor party and the minor parties, there's stuff all they can do. So maybe direct some of your criticism toward Labor for playing politics over the good of the nation.

 

[drsmith]

Below graphs shows we're going in the wrong direction in terms of taxing corporate profits and labour income. I doubt the current Govt has the ticker to change how things are going. They wont tax resources, they wont increase tax on consumption, but they are increasing taxes on income.

You have about as much faith in this government's tax white paper and federation review as I did in Labor's NBN.

Time will tell.

They can do their best, but if consistently blocked by your Labor party and the minor parties, there's stuff all they can do. So maybe direct some of your criticism toward Labor for playing politics over the good of the nation.

Young Sid I imagine would be very disappointed in the Labor/Green stance on the CPI indexation of petrol excise.

 

[Julia]

Today's Newspoll is not looking good for the government. Particularly Mr Abbott's Dissatisfaction Rating which is 62%.

 

[wayneL]

Today's Newspoll is not looking good for the government. Particularly Mr Abbott's Dissatisfaction Rating which is 62%.

Looks like LNP have squandered their goodwill up here too Julia. Australia is not the place to do Tea Party politics.

Idiots. I will never forgive them for government back to Labor on a silver platter.

 

[sydboy007]

They can do their best, but if consistently blocked by your Labor party and the minor parties, there's stuff all they can do. So maybe direct some of your criticism toward Labor for playing politics over the good of the nation.

Right. Labor tried to bring in a resource tax - initially blocked by the L+NP, and they've now repealed the watered down version. I'd say we'd be in a far stronger economic position now if the original version had been introduced. Tax payers would be far better off, the AUD wouldn't be on a rocket towards parity again, and resource shareholders would not be looking at quite as large asset right downs because of the massive over investment that occurred within Australia.

Changes to the statutory method for car FBT - blocked by the L+NP

Carbon tax compensation tax cuts and benefits increases - to be kept by the L+NP even though the tax revenue to fund it has been given up.

I'd definitely like Labor and the smaller parties to take a more nuanced strategy instead of the Abbott esque NO to everything, but it's strange that the demands for the opposition to think in the national interest was so quiet while Abbott was in opposition yet so loud now.

If the budget had introduced an effort to bring about meaningful tax reform then I'd be all over Labor for not supporting it, but the budget was really about the current Government's ideology and will do little to actually structurally adjust the budget to better cope with a falling participation rate and the rise of aged pension costs.

 

[sydboy007]

You have about as much faith in this government's tax white paper and federation review as I did in Labor's NBN.

Time will tell.


Young Sid I imagine would be very disappointed in the Labor/Green stance on the CPI indexation of petrol excise.

How much faith do you have in the current L+NP MTM network? Their initial trial rollout in Umina has ground to a halt because they can't get power to the nodes. How does that bode for a 100K node rollout? I often wonder if any of them believed their 2016 rollout deadline pre election?

Yes, I'm very disappointed with Labor over their refusal to allow the indexation of fuel excise, and the greens have pretty much just pandered to 5% of the population with their blocking of it too. Just shows their lack of relevance in the economic sphere. It's a shame because with a more nuanced roll they could take the oxygen from PUP and actually turn into a useful 3rd force in politics. Certainly wont happen under their current leadership.

Definite shame about the only revenue reform in the budget wont make it through.

 

[drsmith]

How much faith do you have in the current L+NP MTM network? Their initial trial rollout in Umina has ground to a halt because they can't get power to the nodes. How does that bode for a 100K node rollout? I often wonder if any of them believed their 2016 rollout deadline pre election?.

They've done a deal for a trial rollout with Telstra.

http://www.afr.com/p/technology/telstra_in_nbn_fibre_deal_2UhvyideUybBooTZ3nXFBI

Yes, I'm very disappointed with Labor over their refusal to allow the indexation of fuel excise, and the greens have pretty much just pandered to 5% of the population with their blocking of it too. Just shows their lack of relevance in the economic sphere. It's a shame because with a more nuanced roll they could take the oxygen from PUP and actually turn into a useful 3rd force in politics. Certainly wont happen under their current leadership.

Definite shame about the only revenue reform in the budget wont make it through.

If perfection is what one is after, politics is not the place to look, anywhere.

The Greens are worse than either of the major parties. Whether it's Bob Brown or Christine Milne, they don't even believe in sovereign nationhood. On that and that alone, I could never vote for them as leaders of our nation.

 

[noco]

They've done a deal for a trial rollout with Telstra.

http://www.afr.com/p/technology/telstra_in_nbn_fibre_deal_2UhvyideUybBooTZ3nXFBI


If perfection is what one is after, politics is not the place to look, anywhere.

The Greens are worse than either of the major parties. Whether it's Bob Brown or Christine Milne, they don't even believe in sovereign nationhood. On that and that alone, I could never vote for them as leaders of our nation.

Don't worry Doc.....When the Fabian Society get back into power they will take us back to 07/13 again.

Come big spenders....spend a little time with me.. borrow heaps of Chow money...give plenty of hand outs to the bludgers......tax us to the kilts...bring back the Carbon tax and the useless mining tax and in no time we will have no free enterprise ......control the media......spread their propaganda.......discredit the Liberals....open the flood gates the boat smugglers.....
Down with Capitalism and up with communism.......yeah.....the way to go, over my dead body.

 

[drsmith]

Looks like LNP have squandered their goodwill up here too Julia. Australia is not the place to do Tea Party politics.

Idiots. I will never forgive them for government back to Labor on a silver platter.

The latest federal newspoll I'd suggest is an outlier.

The latest Essential Media poll released this week was stable and much closer 52% 2PP support for Labor.

I can't speak in relation to Queensland but federally, there's a longer game being played than the current short term polls. Remember that fiscally, the Gillard government bled to death due to not taking the difficult decisions early in its term. This government has gone back to a more traditional first budget approach, but marketed it poorly. The likely repeal of the carbon tax this month will hopefully be a watershed moment for this government.

With a population softened by over 20-years of continuous economic growth, this is all going to be interesting to watch.

Sportsbet still has the Coalition favoured to win the next federal election as it does for the conservatives in Qld and NSW. Labor though is favourites in Vic.

 

[drsmith]

More food for thought from Treasury Secretary Martin Parkinson,

http://www.smh.com.au/federal-polit...ury-boss-martin-parkinson-20140702-3b7pp.html

 

[sptrawler]

I can't speak in relation to Queensland but federally, there's a longer game being played than the current short term polls. .

I agree with your sentiment doc, Abbott proved to be longer term thinker, when in opposition.

Currently I'm not over enamoured with their performance, but it may prove to be Labors downfall to block everything.
When the likely unpopular tax increases are put forward, Labor will be left with very little option than to wave them through.
While the coalition will be able to say, we are not allowed to reduce spending, therefore there is little option other than to increase taxes.
The tax increases, one would think, will have to be focused on the personal tax base. As an increase on the company tax base, will further deteriorate what is a fragile recovery, at best. IMO

Just read your last post doc, it would appear treasury are of the same belief.lol
Maybe Abbott is letting Shorten 'wedge' himself.

 

[sptrawler]

When you read through that article, it shows how precarious our position is.
Shorten is going to make a fool of himself, for sure, he will reinforce the publics belief that Labor can't run an economy. IMO

Treasury are obviously getting nervous about the situation.

 

[drsmith]

The tax increases, one would think, will have to be focused on the personal tax base.

Labor in government would let bracket creep do its work for it. That's what concerns Martin Parkinson.

If Labor's tactic in blocking spending cuts (including its own) to force the current government to increase marginal tax rates, that will be a win for Labor. This government I suspect won't go down that path beyond its temporary levy. Instead, it will allow the budget numbers to speak for themselves to continue to argue its case and against Labor's resistance in the Senate.