The Abbott Government

[Bintang]

I'd suggest that they want to keep their negative geared investments and super tax breaks as much as anyone else.

Why do you think that they did nothing about this for the 6 years they were in ?

I agree with you absolutely about this. So they will only soak the rich in ways, which will not affect themselves personally. Hence the amount of ‘soak’ revenue will be lower than it otherwise should be and the predicament I outlined earlier will be exacerbated.
Either way the Labor party will still find ways to spend money faster than they can collect it and irrespective of the absolute amount of ‘soaking’ that they can actually achieve.

This is a world-wide phenomenon. It can never be fixed by a change of Government anywhere. ‘Natural forces’ will ultimately fix it – i.e. a world-wide financial Armageddon that gives neither voters nor politicians choices about their respective ‘free lunches’. All ‘free lunches’ will disappear down the black-holes of world debt. It will not be pretty when it happens but it is coming.

 

[sydboy007]

If you are going to say that your generation is worse off than previous ones, you may like to mention the current mortgage interest rate of around 4.5% compared to the 18% that some of us paid.

this RBA graph shows the lie to that claim. Just look how easy it was after 2 years during the high inflation high interest rate environment compared to recent times.



the entire article is well worth a read - http://www.rba.gov.au/speeches/2013/sp-so-230413.html

 

[Bintang]

Interest rates were at the 18% level around 1991/2 if I recall correctly, at which time the Australia-wide median house price was around $140,000

Median house price today is probably around $600,000 (I’m estimating – haven’t had time to look it up).
So:
18% x 140,000 = 25,200
4.5% x 600,000 = 27,000

I’m not sure the relative advantages/disadvantages are quite as extreme as 18% versus 4.5% might suggest.

this RBA graph shows the lie to that claim. Just look how easy it was after 2 years during the high inflation high interest rate environment compared to recent times.

I can't see what you a referring to in the chart. Doesn't look like that much difference to me.

 

[basilio]

It's not just Tony Abbott that has trashed his Government reputation for good governance

The treatment of the Human Rights Commissioner Gillian Triggs has been a disgrace. Trying to force her resignation, attacking her personally for the report on children in detention (as distinct from addressing the report).

Latest story is how George Brandis insisted that his staff member be present when Gillian spoke with the Opposition Attorny General Mark Dreyfus. I'm surprised that her ofice hasn't been wired and her computers bugged "for security reasons". George Brandis is quite capable doing that.

What a pig...!

Labor objects to George Brandis's staffer 'overseeing' meeting with Gillian Triggs

Exclusive: Attorney general instructed his staff member to be present when Mark Dreyfus met human rights commissioner
Gillian Triggs
Tony Abbott has refused requests for a meeting with Gillian Triggs, above, and George Brandis has been unable to find time in recent months. Photograph: Lukas Coch/AAP

Lenore Taylor, political editor
@lenoretaylor


Labor has complained that the attorney general, George Brandis, “inappropriately” insisted his staff “oversee” a meeting between the human rights commissioner, Gillian Triggs, and the opposition.

The shadow attorney general, Mark Dreyfus, told Guardian Australia he had complained to Brandis after the attorney general instructed his staff member be present when Dreyfus met Triggs late last year, not long after the commission delivered to government its final report on children in detention. The meeting was not about the report.

http://www.theguardian.com/australi...taffer-overseeing-meeting-with-gillian-triggs

 

[SirRumpole]

It's not just Tony Abbott that has trashed his Government reputation for good governance

The treatment of the Human Rights Commissioner Gillian Triggs has been a disgrace. Trying to force her resignation, attacking her personally for the report on children in detention (as distinct from addressing the report).

Latest story is how George Brandis insisted that his staff member be present when Gillian spoke with the Opposition Attorny General Mark Dreyfus. I'm surprised that her ofice hasn't been wired and her computers bugged "for security reasons". George Brandis is quite capable doing that.

What a pig...!

So much for a free country when people can't talk to each other without a commissar in attendance.

 

[noco]

It's not just Tony Abbott that has trashed his Government reputation for good governance

The treatment of the Human Rights Commissioner Gillian Triggs has been a disgrace. Trying to force her resignation, attacking her personally for the report on children in detention (as distinct from addressing the report).

Latest story is how George Brandis insisted that his staff member be present when Gillian spoke with the Opposition Attorny General Mark Dreyfus. I'm surprised that her ofice hasn't been wired and her computers bugged "for security reasons". George Brandis is quite capable doing that.

What a pig...!



http://www.theguardian.com/australi...taffer-overseeing-meeting-with-gillian-triggs

What else would you expect from that communist paper, the Guardian...Lenore Taylor is so biased towards the Green/laborParty..That is the sort of reporting you would expect from her.
.
The fact is, Gillian Trigg was advised by Tony Burke and Chris Bowen to hold the report until after the 2013 election..She lied about those meetings at the senate inquiry and was well and truly caught out.....That stuck out like the dog's proverbials.

 

[Knobby22]

What else would you expect from that communist paper, the Guardian...Lenore Taylor is so biased towards the Green/laborParty..That is the sort of reporting you would expect from her.
.
The fact is, Gillian Trigg was advised by Tony Burke and Chris Bowen to hold the report until after the 2013 election..She lied about those meetings at the senate inquiry and was well and truly caught out.....That stuck out like the dog's proverbials.

I think Gillian Trigg's political leanings was known by the Liberal party hence the concern and the reasons for being extra careful.
There appears to be a good case for bias of the commission in my view. It would be nice of public servants were seen to above the political fight as used to occur rather than part of it.

 

[sydboy007]

I think Gillian Trigg's political leanings was known by the Liberal party hence the concern and the reasons for being extra careful.
There appears to be a good case for bias of the commission in my view. It would be nice of public servants were seen to above the political fight as used to occur rather than part of it.

Does that include not appointing people with very right or left leaning views to chair Govt reviews?

Is it appropriate to say have Dick Warbuton running the RET review when he's been very outspoken against wind farms?

Surely if the Govt is paying your salary to run a review then for all intents and purposes you are a public servant during that period.

Fortunately, even with hand picked / stacked reviews they've turned out to provide the Govt some very uncomfortable advice, with Hockey going on about how the Murray review was a report for the Govt, not by the Govt, and did not reflect offical policy.

 

[Knobby22]

I agree completely Syd.
The Dick Warburton incident was a slap in the face to the Australian public. Probably the most obvious and among the worst political appointments of all time and another reason why I can't stand this Abbott Government.

 

[sydboy007]

I can't see what you a referring to in the chart. Doesn't look like that much difference to me.

The claim made was that people today have it so much easier because interest rates are not 18%

The chart I provided from the RBA shows just how much disposable income is being feed to the mortgage monster these days, and it's comparable to when interest rates were 18%.

The blue dotted line shows you how much income is required after 2 years of repayments, and the current low interest rate period turns out to be not quite as easy as the high inflation high interest environment before financial deregulation.

People buying property today don't get inflation doing a lot of the hard work for them, especially when it was common to be getting wage rises 3 or 4 times what they have been lately.

But hte real point I'm trying to make is why is it fair to have what is the largest asset for the majority of households be excluded from determining access to the pension, especially when the relatively small group of over 65s has something like 1/3 of the wealth of the country. Is it fair that when the wealth of most younger generations has been going backwards there is push by older Australians to force through cuts to Govt spending that go more to younger / poorer people than wealthy older retirees?

Is it sensible for the Govt to flag to people that investing in housing could be the most tax effective retirement strategy, because you'll be able to sell up, downsize or rent and have investable assets well above the current pension asset test that will not impact on access to the pension? Why do income taxes have to be higher, or the GST raised just to keep the current very generous pension asset & income tests? A couple can earn over $73K a year tax free and still get a part pension. That up there with a working couple earning the median wage each after tax, and significantly better if you look at it from a disposable income basis.

 

[IFocus]

I think Gillian Trigg's political leanings was known by the Liberal party hence the concern and the reasons for being extra careful.
There appears to be a good case for bias of the commission in my view. It would be nice of public servants were seen to above the political fight as used to occur rather than part of it.

Knobby, Triggs was equally critical of both political parties in the most recent report about kids in detention with a Liberal supporters name on the report (Wilson) strange Abbott hasn't mentioned that.

 

[IFocus]

I am surprised no one has mention the obvious about Abbotts recent behaviour over the Bali 2

After praising the Coalition I fine now they are happey to play politics over there now certain execution.

Once you start pointing fingers at the Indo's its all over

The Bali 2 will now be executed no if no buts Abbotts behaviour was I think for local consumption nothing more it would have gone against any advice from the diplomats.

 

[drsmith]

Knobby, Triggs was equally critical of both political parties in the most recent report about kids in detention with a Liberal supporters name on the report (Wilson) strange Abbott hasn't mentioned that.

Gillian Triggs showed her bias late last year with her unsubstantiated claims about armed guards on Xmas Island and that detention camps were like prison.

Meanwhile, the current government continues to solve the problem at the source,

http://www.abc.net.au/news/2015-02-19/asylum-seeker-boat-intercepted-off-cocos-islands/6152002

 

[drsmith]

Well, the facts are what they are. Syd has put up the graphic reality of the future for the age pension - massively increasing with fewer taxpayers to support it. Something has to give.

Of course people wouldn't like either inclusion of the family home in the assets test, or any scheme which diminishes the present excellent preservation of family wealth. The whole generosity of everything to do with Super has become a wealth management sinecure for the very affluent.

No one is going to leap up and down in unbridled joy at any suggestion they be taxed/penalised in any way at all. We all want it to happen to someone else.

We need a government that will simply point out what needs to be done, consult widely with relevant interest groups as to the fairest way to do it, and then just say "this is what will happen".

The aggressive media, plus the power of social media, seems to have turned politicians into apologetic, approval seeking wimps which may well be one of the reasons they are currently earning so little respect.

Did you read the last two paragraphs of the post you quoted ?

It wasn't about just wanting it to happen to someone else.

 

[moXJO]

I am surprised no one has mention the obvious about Abbotts recent behaviour over the Bali 2

After praising the Coalition I fine now they are happey to play politics over there now certain execution.

Once you start pointing fingers at the Indo's its all over

The Bali 2 will now be executed no if no buts Abbotts behaviour was I think for local consumption nothing more it would have gone against any advice from the diplomats.

Abbott carried on like an idiot. He must have known better then to try and blackmail the Indo's. Not sure if he needed to w hore himself out to the media like that to score brownie points.

 

[Julia]

Did you read the last two paragraphs of the post you quoted ?

It wasn't about just wanting it to happen to someone else.

This is what from your post I quoted and responded to:

When confronted with the prospect of asset rich cash flow poor pensioners having to sell their family home to pay the tax, the then state government then suggested the tax debt in those cases could accumulate and be paid out of the estate upon their death.

No prizes for guessing what that got called and that tax proposal was subsequently dropped.

I stand by what I said in response which is essentially that a reverse mortgage type of scheme would work for people determined to stay in their very expensive homes whilst drawing full pension, and too bad if it's unpopular.
Doesn't matter if it's a tax debt or access to full pension.

The present system is broken and unsustainable so some unpopular decisions will have to be made.

Syd has repeatedly laid out sensible suggestions for what needs to happen.

 

[chiff]

I agree with what you are saying Julia-or else taxpayers are funding capital gains windfalls for those with expensive homes.
The pension scheme is a safety net,not a scheme to allow some to benefit disproportionately.
The ones most opposed would be those that will inherit .

 

[drsmith]

This is what from your post I quoted and responded to:

I stand by what I said in response which is essentially that a reverse mortgage type of scheme would work for people determined to stay in their very expensive homes whilst drawing full pension, and too bad if it's unpopular.
Doesn't matter if it's a tax debt or access to full pension.

The present system is broken and unsustainable so some unpopular decisions will have to be made.

Syd has repeatedly laid out sensible suggestions for what needs to happen.

By only considering part of that post though in your response, you're considering it out of context.

 

[Julia]

By only considering part of that post though in your response, you're considering it out of context.

I don't know why you're going on about this. I don't think I'm obliged to comment on every part of all of your posts.

As it happens, I don't entirely agree with the latter part of your original post (the top two paragraphs from which I responded to), perhaps unusually because I more often than not do agree with you and make that clear.

So I just expressed what I feel strongly about, ie the unfairness of people living in multi million dollar homes and drawing full pension when a perfectly reasonable option like a reverse mortgage exists.

I don't care whether it's popular or not to change the status quo. Part of the reason we're in the current situation is the vote buying by successive governments in handing out tax cuts, middle class welfare etc, to the point where it has become an expectation.

It's time for the government, whether Labor or Liberal, to have the courage to take some unpopular decisions and for the opposition and the Senate to start being realistic in support.
Just my , of course.

 

[Logique]

Sorry to be discursive, but couldn't find a more specific thread for this, so I'll try it here.

The author argues that the US should stay neutral on Ukraine. I don't know enough of the background to hold a position, but certainly the article reads well, and I love the last sentence (under).

http://www.marketwatch.com/story/us-should-be-neutral-on-ukraine-2015-02-06?page=2

...If the U.S. is to have a role in the Ukraine conflict, it should be as mediator. Otherwise, it’s a European affair. You cooked it, you eat it.”