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The Forum > Article Comments > Retro budget cements higher tax and spend > Comments

Retro budget cements higher tax and spend : Comments

By Graham Young, published 11/5/2017

Politically it is brilliant, redolent of the Menzies’ method of stealing your opponent’s clothes. Economically it is a disaster, although it does deal with the debt situation, but at a cost.

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Graham,

Your article is not coming up; neither is the one below it.

I agree with the little bit I can read. It is a Labor budget that will appeal to the gimme groups. However, it will encourage Labor to be even more reckless with our money, and borrow more, when they get the chance again. It also seems that Morrison intends to steadily increase taxes to gain the surplus has has 'predicited' for 2021 or whatever.

The Coalition has dropped all pretence of small government and and conservatism in finance. Cory Bernadi has described it as a “winner for Labor” who will now feel more able to offer more spending at the next election. The Libs have “shown no constraint”, he says, and believes that the new Australian Conservatives are our only chance for redemption.
Posted by ttbn, Thursday, 11 May 2017 9:49:29 AM
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What happened to the old conservatives, they blew them selves to bits. The coalition never had a chance in the world of winning another election the way of the far right.
Besides Morrison giving up on robbing money from here to put it somewhere else. it's all to hard.
A shift to the Left is what was needed and sounds quite good. Turnbull being a centrist i believe would be a good PM without the interference of the far right.
Australia does not need austerity measures it needs stimulus to get things moving and create employment. We were not going anywhere but stagnating this budget just may put some confidence back into business. Abbotts hard line far right politics needs seperation from the liberal party. Those that want to vote conservative good luck to them. Conservative should not be part of liberal.
Posted by doog, Thursday, 11 May 2017 10:58:05 AM
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Yes Graham and has left Labor stumbling around looking for an issue that works for them. That said, we could have done so much better on energy policy, if all options, and I do mean all options were on the table. And if we ever find the testicular fortitude to do real tax reform.

Which to my mind will look like a flat tax of around 15% everybody pays, once crossing the threshold in any one financial year, of say $50,000.00.

With it removed, by a cooperative banking sector, protecting valuable licences, as PAYG-E, with very severe fiscal penalties for not complying, via an illegal black economy, as say a doubling trebling of your tax liability . Even to the point where all your assets here or abroad could be confiscated?

And fair, given the effective tax rate with all tax compliance costs rendered null and void, would be around 8%. And plenty, given company tax is reportedly varies between 1-4% for most of our corporate citizens, 95% who've offshored their operations to minimize their tax liabilities, with 40% of our guest multinationals paying no company tax to anyone, allegedly.

Fixing that will require a modest tax nobody can avoid after they cross a generous threshold. This simple measure kills both bracket creep and the destiny of demography stone dead, with revenue allowed to grow as fast as a genuinely turbo charged economy!

And there are some off budget nation building water projects that beckon as well as long over due rapid rail, with what's proposed just the opening salvo?

Ideally, freight moved on double decker trains that hit the rails at 120 klicks minimum. Giving rationalized road transport no way to compete save as CNG powered B doubles, and road trains, in areas not served by cheaper faster rail.

We need to get back to a nation that builds stuff and self sufficient independence. And in so doing, grow a turbocharged economy, which allows all else will virtually take care of itself, including generous social justice, leaving others, with nothing save confected mendacity, to get back?
Alan B.
Posted by Alan B., Thursday, 11 May 2017 11:08:31 AM
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While I disagree with much of the budget, I believe that the coalition was caught between a rock and a hard place, with Labor and the greens steadfastly blocking the removal of their new welfare hand out measures, and the unfunded NDIS and Gonski plans, the Hobson's choice was greater taxes or greater debt.

Given that due to Labor's profligacy Aus was about to lose the AAA that Howard worked so hard, with costs and consequences that certainly in the short term would outweigh the impact of higher taxes.

That the budget deflated Labor's whinging and gave the banks a well deserved kick in the backside are just bonuses.
Posted by Shadow Minister, Thursday, 11 May 2017 11:12:09 AM
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The populous want NDIS and Gonski, that put the coalition in a very awkward position, the far right would not have a bar of that. Morrison by raising taxes is the way to go, instead of making funding thinner, and getting nowhere.
We need a price on carbon and a mining tax.
Turnbull has acted like a PM for a change instead of being directed by the backbench. He may come back into fashion with directives like that.
With Abbott still lurking in the background, will cause apprehension among business. He should go and disrupt the conservative party and stay out of Liberal politics.
Austerity and cost cutting should be done in good times, stimulus is needed in bad times, to create an even playing field. Abbotts’ idea of poke a stick at the little people when the economy is down only creates more reluctance to consume any goods and services, allowing us to slip further down the chain. Hopefully there will be an uplift in the community to pull us out of the doldrums.
Posted by doog, Thursday, 11 May 2017 1:01:36 PM
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SM,

In all fairness, we cannot continue blaming Labor. Spending, debt and taxes have increased since Labor was defeated two elections back. It would be fairer now to say that we have two socialist parties and it is up to the electorate to reject that, or not, at the next election. If there is not a correction soon, there is no hope for Australia.
Posted by ttbn, Thursday, 11 May 2017 1:42:17 PM
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