Australian (ASX) Stock Market Forum

The Gillard Government

What's old George been smoking ?

People would be worse off because they would be paying a new tax.

Also, the the free threshold is not $6k. It's around $16k after taking into account the low income offset. Carbon tax and all, Labor fails to get rid of the low income offset.

DR, George is one of the few Jurno's that actually understands the numbers but I take your word I make no claims to understand the tax system.

Note Abbotts comments, exactly what is it he stands for..........
 
DR, George is one of the few Jurno's that actually understands the numbers but I take your word I make no claims to understand the tax system.
It's actually very simple.

1) A tax which targets one group and distributes the proceeds (net of waste) to another is wealth redistribution.

2) A tax which reduces our competitiveness globally is economic vandalism.

3) A commitment not to introduce such a tax during an election campaign and to then go back on that word is a lie. In this case, a supersized whopper with double beef, double cheese, extra large fries and a bucket of watered down Coke.

I hope that's not too indigestible.
 
But Labor's plan, which trebles the tax-free threshold from $6000 to $18,200,
I'm so sick of seeing this utterly misleading statement. The tax free threshold before this announcement was in fact around $16,000 because of the inclusion of the Low Income Tax Offset.

And the additional couple of thousand will be largely negated by the rise in tax rates.

To suggest the government has 'tripled the tax free threshold' is spurious and completely wrong.

As a country, we were the ones who were stupid enough to give this lot another chance.
Did we, though? Didn't the Coalition get a slightly higher primary vote?
I don't believe this sort of self-flagellation is realistic. If the decision-making Independents had not had their vendetta against the Nationals, the result would have been quite different.
 
Do we really want to replace the Australian landscape with this? The lack of trees (which help to reduce co2) makes this landscape quite stark. I always thought Greenies were tree hugging people - but it's OK to chop down trees for windmills?


winf_thumb.jpg
 
I'm so sick of seeing this utterly misleading statement. The tax free threshold before this announcement was in fact around $16,000 because of the inclusion of the Low Income Tax Offset.

And the additional couple of thousand will be largely negated by the rise in tax rates.

To suggest the government has 'tripled the tax free threshold' is spurious and completely wrong.


Did we, though? Didn't the Coalition get a slightly higher primary vote?
I don't believe this sort of self-flagellation is realistic. If the decision-making Independents had not had their vendetta against the Nationals, the result would have been quite different.

Yes, and if the Liberal and Labor parties had given each other the preferences instead of giving them to the Greens, a different situation may have arisen in both houses.
I doubt that will happen at next election. It will most likely leave the Greens up the creek without a paddle.
 
Yes, and if the Liberal and Labor parties had given each other the preferences instead of giving them to the Greens, a different situation may have arisen in both houses.
I doubt that will happen at next election. It will most likely leave the Greens up the creek without a paddle.
I certainly hope so.
 
Finally the labor knifing commences.
Time to clear the house and start over.

FORMER NSW premier Morris Iemma has become the most senior Labor figure to oppose Julia Gillard's carbon tax.

Mr Iemma says the carbon tax that forms federal Labor's platform for re-election in 2013 is environmentally marginal, economically costly and likely to lead Labor to a historic electoral train wreck.

"One thing is sure -- it won't change the world, but it could change the government," Mr Iemma told The Australian.

Mr Iemma accused the Gillard government of betraying the Hawke-Keating legacy of economic reform, instead embracing the environmental policies of the Greens' agenda.
http://www.theaustralian.com.au/national-affairs/iemma-predicts-carbon-calamity/story-fn59niix-1226098657315
 
Hope so moXJO,
two more years of this facsimile of a government and, don't discount the possibility of social and civil unrest.

Miranda Devine writes for the Sydney Daily Telegraph, which along with The Australian are two betes noire of the Greens, who'd like to 'regulate' them. Two great articles today from Miranda, see at: http://blogs.news.com.au/dailytelegraph/mirandadevine/

She fires back at them, and she has their number alright:
http://blogs.news.com.au/dailytelegraph/mirandadevine/
Tasmanian incomes are in a hole because the Greens have stifled every productive industry for decades, from hydroelectric power to forestry. Now they are going to do to Australia what they did to Tasmania. This is why Gillard’s broken promise matters.
and,
Yet, instead of accepting that robust [news] coverage is part and parcel of his [Bob Brown's] newfound influence, and the duty of a free press, he falls to the instinctive position of the despot. Shut down the opposition, muzzle public opinion and regulate, regulate, regulate.
 
It's actually very simple.

1) A tax which targets one group and distributes the proceeds (net of waste) to another is wealth redistribution.

2) A tax which reduces our competitiveness globally is economic vandalism.

3) A commitment not to introduce such a tax during an election campaign and to then go back on that word is a lie. In this case, a supersized whopper with double beef, double cheese, extra large fries and a bucket of watered down Coke.

I hope that's not too indigestible.

Thanks DR I will ignore in the same spirit as you have appeared to give.............
 
It's actually very simple.

1) A tax which targets one group and distributes the proceeds (net of waste) to another is wealth redistribution.

2) A tax which reduces our competitiveness globally is economic vandalism.

3) A commitment not to introduce such a tax during an election campaign and to then go back on that word is a lie. In this case, a supersized whopper with double beef, double cheese, extra large fries and a bucket of watered down Coke.

I hope that's not too indigestible.

You have summed it up with honesty and integrity.
And this is what Gillard lacks.
The Australian people are just not going to cop it.
joea
 
I saw the first of the Coal Assn's TV advertisements tonight. Very stark and hard hitting. Good on them. I reckon this will strike a chord with way more Australians than the airy fairy stuff the government is putting out.
 
Quote of the week.
This is an extract from Charles Aitken (Bell Potter Securities) report last week.

"We are involved in a giant self-inflicted policy wound on Australian equities. Every foreign investor I see believes Australian company management is excellent, but Australian political management is woeful.
As one Chinese investor said to me in Hong Kong last week. "Would you buy a stock where the CEO is Julia Gillard, CFO is Swan, independent directors are Wilkie, Windsor
and Oakeshott, and the executive is Bob Brown?"

The very best thing that could happen to Australian equity market is the removal of the incompetent, anti-business, income resistributing, Gillard/Independents Government.

If it was a public company all of these people would be in front of a court "showing cause" as to why they should be in positions to damage the wealth of the corporation and failing on their duties and obligations.
joea
 
A fan of Charley's and heard that.

He also said the ASX has underperformed, partly because of the carbon tax proposals, and the inference of sovereign risk from a government willing to shut down an export industry like live cattle at the stroke of a pen, on the basis of one Four Corners program.
 
That image is missing Bob Brown's god like shadow over Julia Gillard.

During last year's election campaign, there was a Youtube campaign video. I forget what the title was, but it was along the lines of the economic wreck Australia would be in the future (2020 ?) and that generation apologising to the next for voting in labor in 2010. It mentioned Labor's alliance with the Greens, the carbon tax and power cuts and life after the current resources boom had passed.

It was either posted here or on another forum. In light of how the present political situation is evolving, it would be good to see it again.
 
[Scene: A car yard. BRYAN is perusing the stock. He is approached by JOHN]

John: Morning! Looking for a new car?
Bryan: Nope. Prime Minister, actually.
John: You’re the third one this morning. Anything in mind?
Bryan: You know....... nothing fancy, reliable, economical family model. Something to get the country from A to B.
John: You mean like a Howard?
Bryan: Yeah....a little Johnny. Nothing flash, does the job. Low maintenance, economical, sensible. Runs for years, no troubles.
John: So.... you used to have one?
Bryan: Yeah. About 10 years. Great little model – don’t know why I got rid of him --biggest mistake I’ve ever made…
John: What happened?
Bryan: Traded him in for a Kevin 07.
John: Big mistake…
Bryan: Lot of people bought it. Good political mileage.
John: How was the Kevin 07?
Bryan: Came with a $900 factory rebate – that was good.
John: Anything else?
Bryan: Not much. Sounded nice but nothing under the bonnet. It was a lemon.
John: Didn’t stick around for long did it?
Bryan: Nah – had a factory recall. Shipped overseas and was never seen again.
John: What was the problem?
Bryan: Lots. But the final straw was the navigation system. Plug it in and it automatically loses its own way.
John: Whatcha got now?
Bryan: It’s a Gillard-Brown.
John: The hybrid?
Bryan: Yeah. The Eco-drive system – not a good idea. An engine that can’t deliver hooked up to a transmission stuck in permanent reverse…
John: Green paintwork with a red interior. And steering that always lurches to the left for no apparent reason – that’s the one?
Bryan: The Fustercluck model.
John: The only one they made, Bryan. Not the vehicle of choice for the road to recovery – but did they finish up fixing the navigation system?
Bryan: Made it worse. Turn it on and it does a press release, heads off in all directions and goes nowhere.
John: So that’s why you’re here?
Bryan: That’s right. I’m stuck with a government that's wasteful, expensive, ineffective and past its use by date.
Bryan: I don’t suppose you’ve eard of the “Cash for Clunkers” scheme?
John: Join the queue brother.
 
[Scene: A car yard. John: Whatcha got now?
Bryan: It’s a Gillard-Brown.
John: The hybrid?
Bryan: Yeah. The Eco-drive system – not a good idea. An engine that can’t deliver hooked up to a transmission stuck in permanent reverse…
John: Green paintwork with a red interior. And steering that always lurches to the left for no apparent reason – that’s the one?
Bryan: The Fustercluck model.
John: The only one they made, Bryan. Not the vehicle of choice for the road to recovery – but did they finish up fixing the navigation system?
Bryan: Made it worse. Turn it on and it does a press release, heads off in all directions and goes nowhere.

I love Doyle and Clarke, they are so funny.
 
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