So why mess with a system that's working?
Looks like we could be heading to a GST election
http://www.abc.net.au/news/2015-09-...aking-very-powerful-point-abbott-says/6746500
Question:
If the Federal government is willing to forgo revenue via tax cuts anyway, why doesn't it just give more money to the States to run their services instead of upping the GST ?
Looking back and it all looks very similar to when Howard introduced the GST, Howard was on the ropes and behind in the polls before he introduced the GST and he instantly saw a large increase in the polls and obviously went on to win the 98 election. Abbott's government is clearly in turmoil and this could give it the platform to turn the numbers around, I think Australians are quite willing to accept sensible tax reform. Of course raising the GST would be the easy way out and I'm not sure if the government would see the same result as Howard did in the polling.
Abbott V Abbott
[video=youtube_share;q99VsIec2gg]http://youtu.be/q99VsIec2gg[/video]
Rupert Murdoch calls for snap election in 'almost ungovernable' Australia
September 4, 2015
Sydney Morning Herald: http://www.smh.com.au/federal-polit...-australia-20150903-gjes1x.html#ixzz3kjARmsUr
sometimes satire is required to break through the noise
[video=youtube_share;L6SzRFA-Ei8]http://youtu.be/L6SzRFA-Ei8[/video]
Syd,Nope.
Just highlighting that some of the issues we face now had their genesis before the Labor Govt.
I have no issue with anyone criticising Labor for poor policy choices, but don't try to pretend that the Howard Govt were economic marvels.
But then Abbott has added over $100B of new borrowings in 2 years. Is that also a borrow and tax way, because I was under the impression that surpluses were part of the Liberal DNA.
Pop over to http://aofm.gov.au/
Australian Government Securities on Issue* $384,687m
I bet you that figure will not be going down any time soon.
When does it stop being Labor's fault?
You don't want to hold Labor to account on fiscal management after 2 years while still complaining about the Howard government's after 8 ??
Syd,
You can't deny what you said,
"When does it stop being Labor's fault?"
They're your words published on this forum. You can't deny them.
In my response, I didn't discuss the Howard's Government's economic record.
It was a criticism of your good self for wanting to let Labor off the hook after 2-years while still complaining about the Howard Government after 8. Nothing more and nothing less.
My bolds, again.
A am and I remember who created it.
Borrow and tax is the Labor way and in keeping with that, the bank deposits tax was originally their idea.
That's not what you quoted. Go back and check for yourself. You quoted what I indicated above.I was responding to your comment.
Good suggestion Mr Murdoch, but it comes 18 months too late, have you seen the opinion polls.
That's not what you quoted. Go back and check for yourself. You quoted what I indicated above.
https://www.aussiestockforums.com/f...27364&page=375&p=881514&viewfull=1#post881514
But then Abbott has added over $100B of new borrowings in 2 years. Is that also a borrow and tax way, because I was under the impression that surpluses were part of the Liberal DNA.
Pop over to http://aofm.gov.au/
Australian Government Securities on Issue* $384,687m
I bet you that figure will not be going down any time soon.
When does it stop being Labor's fault?
Labor left many legacies.
One was an attempt to fund and build a nationalised broadband network.
Another was outsourcing immigration to illegal people smuggling operations and another was budget deficits stretching well beyond its time in office.
So things like the freezing of fuel excise indexation, halving of CGT, tax free super, halving of the pension asset taper rate, stretch till now. Just the freezing of fuel indexation was robbing the Govt of over $5B in revenue last year. We're talking in the tens of billion in revenue lost on an annual basis, and over the last 15 years would have provided the kind of revenue required to make a decent dent in the infrastructure deficit we face.
Tax cuts based on revenue from the largest resource boom in the world were unsustainable, and yes Labor were foolish for going along with Howard in providing further ones after the 2007 election. The issues we face are not all legacies from the Labor Government.
Sydney!
I refer to what you said earlier,
You don't want to hold Labor to account on fiscal management after 2 years while still complaining about the Howard government's after 8 ??
That's a double .
My bolds.
The government has sensibly decided to abandon plans for a bank deposit tax.
So let me get this straight. After the four peak government agencies that oversee Australia’s financial system recommended taxpayers should receive a proper fee for the free default insurance they provide for $750 billion of bank deposits, Tony Abbott rolled his Treasurer’s correct call on the matter because he doesn’t want another “Labor tax”?..
The truth is that the policy principle of not giving away public insurance to banks for free has been embraced by pretty much every developed economy in the world, and was explicitly advocated in writing by the Council of Financial Regulators…
Contrary to Abbott’s misleading claims, this is neither a tax nor a Labor proposal. We are talking about a premium for free deposit insurance that was advised by our best bureaucrats because it minimises the “moral hazards” that arise when you give bankers a “heads we win, tails taxpayers lose” incentive structure.
http://www.adambandt.com/150811
“I’m pleased to hear reports that the Treasurer has listened to the Greens’ call to apply a bank deposit levy only to the Big 4 Banks,” Mr Bandt said.
“We’ve been concerned that the proposals from the previous Labor government and now this government to apply an ‘across the board’ levy to all banks would just be passed on to consumers.”
“For some time, the Greens have called for a levy to apply to the Big 4 Banks only, to raise revenue without the cost being passed on to consumers.”
“If the Big 4 Banks do try to pass this onto consumers, a consumer can just walk down the road to a smaller bank.”
“The Big 4 Banks are making world-leading record profits off the back of implicit help from the taxpayer. They have an advantage compared to their smaller rivals as they’re able to borrow money at a cheap rate because everyone knows that the government will step in if they get into trouble.”
The Liberal Party is meant to reflexively support policies that remove or minimise public subsidies of private companies and here we have Abbott giving a free kick to the world’s most profitable banks. The decision is demonstrably bizarre…
If you provided someone overseas with the above policies and asked them if they thought it was a centre right or left Govt proposing them, I can guarantee you few would think that a centre right Govt would be proposing what Abbott is.
What happened to the Statutory Reserve Deposit that banks were required to make years ago ?
Funny how it now seems to be called a "tax".
What happened to the Statutory Reserve Deposit that banks were required to make years ago ?
Funny how it now seems to be called a "tax".
The USA is one of the few countries that still does.
I think the LUG Party stole it some where between 2007 and 2013.
It is probably hidden in the LUG Party's offshore deposit on the Camen Islands.
That's not what you quoted. Go back and check for yourself. You quoted what I indicated above.
https://www.aussiestockforums.com/f...27364&page=375&p=881514&viewfull=1#post881514
http://www.theguardian.com/australi...-despite-the-daily-battles-hes-losing-the-warTony Abbott's first two years: broken promises and confected 'wars' leave voters deeply unimpressed
Two years in and the Abbott government remains a clamor of battle slogans in search of a policy purpose. The prime minister keeps shaping up for confected daily fights without comprehending that is exactly why he is losing the political “war”.
This is the point in the three-year cycle when a functional government would be finishing the hard grind of doing what it promised at the last election and beginning the task of selling those achievements, and a few new ambitions, at the next one.
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