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The Forum > General Discussion > Budget savings + higher taxes?

Budget savings + higher taxes?

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Well for all their public whining about new taxes , the Libs only actually opposed 8 of the supposedly terrible 26 new taxes introduced by the ALP and are even planning for some new ones of their own to fund their Parental Leave Scheme and however else they are going to plug their rather significant black hole.

As for the big tax grab, total tax as a percentage of GDP is now lower than it was during the Howard years.

When it comes to creative accounting, to cook their books the Libs let unfunded Federal superannuation deliberately blow out from $70 billion to $103 billion, thereby overstating their surpluses by $33 billion. Then they had to sell Telstra to set up the Future Fund but were really just plugging up their own revenue hole before somebody noticed. Then they nicked another $23 billion from the Reserve Bank to help buy more votes.

Since a significant part of their surplus was outstanding HECS debt, it only took a stroke of the ministerial pen to increase HECS rates and thereby automatically increase the surplus without doing anything else.

So what’s new?
Posted by wobbles, Wednesday, 24 October 2012 12:58:11 AM
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The main point I was trying to make is that only a tiny proportion of the $16bn "Savings" that Labor has made is actual reduction in expenditure. Most of it is from increasing taxes, and comes with lots of additional costly work for business.

When businesses revenues go down, that's just the time to hit them up for more tax.
Posted by Shadow Minister, Wednesday, 24 October 2012 2:41:56 AM
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Wobbles, you continue to bag the Howard years, so can you please explain, that if this was such a black period for us, why then did the country BOOM and why are we now in the duldrums.

Or, are you one of the 'denials' club?

It is very hard to argue that had the libs still been in office, we would have come through the GFC, not seen the huge influx of illegals and had money in the bank from the mining boom.

The reality that no one can deny, is that after just five odd years, we are in exactly the opp position.
Posted by rehctub, Wednesday, 24 October 2012 6:03:59 AM
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SM reduction in spending, tax increases, and not one job lost. The libs are only happy if there is 10% unemployment. That means cheaper labour.
Butch the libs are not in office, so that question is about as bad as if your aunty had balls she would be your uncle.
You lot are really scratching around in the bottom of the barrel, to find a little pork of course.
I notice Toni dribbled more slime yesterday. He just can not help himself.
Posted by 579, Wednesday, 24 October 2012 6:28:50 AM
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579

Whine Swan did not mention taxes he called it savings.

The measures are roughly 90% increased tax collection, 9% decreased family payments, and almost zero in reduced public service expenditure.

Having set up a forum to discuss future tax strategies with business, that these measures were a complete surprise to business shows how much of a sham the "consultation with business". That almost every business has panned this is no surprise.
Posted by Shadow Minister, Wednesday, 24 October 2012 7:03:24 AM
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Read the 131 pages of cuts and savings and you will get the right story.
When is business ever happy, This budget round up has just skimmed a little fat, and hurt nobody. Not one job lost.
Posted by 579, Wednesday, 24 October 2012 7:09:51 AM
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