Debt Levy

Discussion in 'Current Affairs' started by dagsgarrett, Apr 27, 2014.

  1. dagsgarrett

    dagsgarrett Member Silver Stacker

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  2. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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  3. bja

    bja Member Silver Stacker

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    Debt Levy, thats what taxes are!
     
  4. Old Codger

    Old Codger Active Member Silver Stacker

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    Commonwealth Government Securities on Issue* $315,625m
    Treasury Bonds $293,037m
    Treasury Indexed Bonds $22,569m
    Treasury Notes $0m
    Other Securities $19m




    Will NOT fix it!

    Will have to be a BIG levy for a LONG time!

    And it is going up at about $35 to $40 billion a year!

    OC
     
  5. long88

    long88 Member

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    sounds like it is better to have a lot of debt.. rather than have savings...
     
  6. bja

    bja Member Silver Stacker

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    I do love how the Liberals were going to end 'class warfare' yet this will again be aimed at a specific group, much like the superannuation grab. Surely there would not be a tax on savings as well, now that would see PMs 'go to the moon'.
     
  7. Gilligan

    Gilligan Member

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    Looks.like they'd possibly try something akin to the flood levy, but to reduce the deficit. Which is basically the same as increasing taxes, but re badged. Bastards
     
  8. Old Codger

    Old Codger Active Member Silver Stacker

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    Does everybody think that solving this ALP disaster is going to be painless?
     
  9. Newtosilver

    Newtosilver Active Member Silver Stacker

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    Australia owes money, it has to be paid back. No-one likes it but it has to happen.
     
  10. Nugget

    Nugget New Member Silver Stacker

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    Err - It was the Lib's who baked the turd pie. The greatest largess in living memory / a once in a generation golden age was blown by on tax cuts to the Boomers when they were at peak earnings ( you know... pay for their pension), middle class welfare & expensive housing.

    And for the record the MAJORITY of Australians voted Labor http://en.wikipedia.org/wiki/Australian_federal_election,_2013 "Coalition" that's Silver and Bronze deciding that together they deserve Gold
     
  11. dagsgarrett

    dagsgarrett Member Silver Stacker

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    Perhaps as a start the Federal Government could utilise the current 5 Billion Dollars spent per annum on foreign aid on getting it's own affairs in order, before putting its hand in the peoples wallet yet again.
     
  12. dagsgarrett

    dagsgarrett Member Silver Stacker

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  13. Nugget

    Nugget New Member Silver Stacker

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    Looks bad, how about we throw in a graph showing income (taxation)?

    My uncles worked for Mount Isa Mines during a boom time. Everyone was raking in money. Unlimited overtime. One day the overtime ended and people were losing houses and cars left right and centre. They hadn't lost their jobs, they'd just lost the overtime. They were still working 38 hours a week with every benefit but their outgoings were based on a, wait for it, a temporary boom.
     
  14. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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    How about a graph showing how good we are at getting into shedloads of debt all by ourselves?

    Don't worry, it's private debt used to create an asset bubble so it's much better that government debt used to fend off a major recession.

    [​IMG]
     
  15. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    Yes. It is much better (even if it is potentially poisonous).
     
  16. JulieW

    JulieW Well-Known Member Silver Stacker

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    So you think that when the RBA called and said the banking system is going to be non-existent next week unless you throw money into households, that Rudd said 'wow that really fits into my plans now I'll spend everything.'

    One of the reasons I loathe Howard is that he was the consumate politician, probably the best we've seen: Not a principle to be found, to the manor born and happy to stuff the country for another term of being kow-towed to. Loathe Rudd for the same reason.

    Abbot is just incompetent and Hockey is a sock puppet. They're following the RBA's orders again, using it as an excuse to impose their neo-con agenda. Budgets are choices. Whose orders do you think they're following when they lay out 24 billion for war planes?

    This is just a version of 'bail-in' and all the numpties will say - oh good job Libs didn't Labor stuff it up. Until it's Labor's turn and then it's 'oh good job Labs didn't Liberals stuff it up.'

    Look at America - the democracy that no longer exists that is run by oligarchs in a fascist framework, and look at how they did it. Now look at Australia and see the future - and it's short sighted opportunists like the current Lib and Labor mobs leading us down the path, and the gimme gimme sheep helping them do it.
     
  17. willrocks

    willrocks Well-Known Member Silver Stacker

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    Get ready for a hard landing.

    Australian Government Debt Ceiling
    http://en.wikipedia.org/wiki/Australian_government_debt
    [​IMG]

    [​IMG]
    Source: www.macrobusiness.com.au

    National General Government Net Financial Postion (flipped vertically)
    [​IMG]
    Source: wikipedia
     
  18. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    "Watermelons" that's ALP and Greens deciding that together they deserve Oxygen
     
  19. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    [​IMG]
     
  20. willrocks

    willrocks Well-Known Member Silver Stacker

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    Total Australian Debt: 4,797,176,000,000
    Annual Interest on Total Australian Debt (at 5%): 239,858,800,000
    Total Australian Income Tax Revenue: 159,800,000,000
    Total Australian Tax Revenue (2011-12): 390,067,000,000

    So interest payments on total Australian debt is more than income taxes, and equal to about 61% of the total Australian tax revenue.

    It's crazy how much wealth is going just into interest payments.
     

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