Debt Levy

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

  1. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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    And just think, if Google and Apple together paid the same rate of tax that a typical small business here pays, we'd have enough money to give quality health care to whoever needs it without a co-payment.
     
  2. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    If we weren't paying 12 billion dollars a year interest after Labor's economic adventures we could use that money for health care too.
     
  3. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    I agree,

    they should close these loop holes and make big business pay a fair share of tax.

    I think Google managed to pay just 1% tax recently.
     
  4. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    you have swallowed the liberas lies hook line and sinker. Or economy is not in bad form and is one of the strongest in the worth with debt levels only at 13% of GDP. Many countries would love to be in the position of our economy( Japanese dept to GDP : 207% American dept to GDP 103% German Debt to GDP 83% )
     
  5. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    I haven't swallowed anything. I am fiscally literate and I know exactly where Australia is placed economically. I also understand compound interest and credit ratings.
     
  6. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    You have drank the coolaide. I doubt our credit rating will get changed any time soon even if our debt triples we would still be in a better position than many countries.
     
  7. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    I don't really care what you doubt.
     
  8. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    That seems to be a common lefty theme..... it doesn't matter how shyte we are, as long as we still get more than the next guy.
     
  9. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    Well that is a typical arrogant right wing mentality there

    Phoney Toney cant justify the huge cuts and tax increases he is going to make so why do it.

    there is no need.

    I saw on sun rise the other day the commsec economist said: if the government did nothing i.e. spent no extra from the bugdet and made no changes, the budget would be in surplus in 18 months due to inflation.

    so Abbot could do absolutely nothing and still have the budget back in the black. He is going on this path of tax increases and health and education cuts to pay for his other stupid promises like giving rich families $150k to have babies.
     
  10. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    Still seeing the world in black and white?
     
  11. fiatphoney

    fiatphoney New Member

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    Still seeing the world in blue and red?
     
  12. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    I will have to pay that one.
     
  13. Ghost Story

    Ghost Story Active Member

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    yes not many people aware of what their needs even are ?

    yeah like my old mate says finance and romance :) 2 causes of most pain in life and like you said joy as well but I need to watch out when I get in too fear in these areas I can cause others and myself pain and its not a good look and most of what I have read here is based on fear and I put myself in there too I am human with flaws, but as you said the more self aware I become the more peace I can have.

    I do put a lot of credence in the below theory and it seems to be true in my life if I am lacking some of these I get a bit of centre and at the moment I am but the more self aware I am the more I can deal with whats lacking in a constructive way not that I get it right all the time :)
    thank you for sharing your thoughts :)

    [​IMG]
     
  14. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    Technically, what Craig said was to not undertake any new spending and the budget would be back in the black within 18 months. The new spending however is locked in through legislation from prior budgets however. So what is needed at a minimum is to repeal the past legislation that locked in new spending.

    https://au.tv.yahoo.com/sunrise/video/watch/23109932/markets-outlook-may-1/

    Looking at the raw numbers however:
    [​IMG]
    Craig's annual average growths that he mentioned are quite different to the actual +7.14% and 4.09% in revenues and expenses. But yes, if taxes and spending did keep rising at the rates of the past 3 years then a surplus would be achieved in FY2018 (ie 4 years from now). It is worth noting however, that the revenue growth over that period included the carbon tax which was due to disappear anyway soon and move to a (much, much lower) floating price. So that automatically assumes there will be new taxes in order to do Craig James' "plan".


    More seriously though, the Commission of Audit had these "core principles" in their report:
    I was nearly creaming myself reading those. But skip ahead to the financial implications of undertaking ALL of their recommendations following these principles and they ended up with this:

    [​IMG]

    WTF?!? Useless turtlers! A fricken reduction in the growth of spending of a pissy 10% by 2023-24 with next to nothing happening over the next 2-3 years. Total spending is increasing by 50% over the next decade for goodness sake. That's a very pissweak effort. No-one should be freaking out about the report.
     
  15. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    Sinclair Davidson (a very strong anti-socialist, pro-small government advocate) has been going nuts over the proposed deficit reduction levy. Every day since it was put on the table he's been on a crusade and has been bagging Abbott. Today's one is fairly representative:

    From http://www.scribd.com/fullscreen/12..._share=true&escape=false&view_mode=scroll]Our Plan Real Solutions for all Australians:
    [​IMG]

    From Twitter:
    [​IMG]

    Then these statements:


    The IPA has been getting stuck into them as well which must be a bit of a shock for the ABC hacks who claim they are Liberal lap dogs. :lol:
     
  16. Old Codger

    Old Codger Active Member Silver Stacker

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    With a VISA card balance of $315 Billion, and rising at about $35 Billion a year, I think TA should do only the painless things to solve the problem.

    Above all, NO TAX RISES!

    LEAVE THE GST AS IS!

    NO CUTS TO BENEFITS!

    SEND THE BILL TO THE RICH!

    INCREASE THE DOLE!

    INCREASE THE DSP.

    INCREASE FOREIGN AID!

    LET ALL THE BOATS IN!

    TRIPLE THE DEBT!


    SEE?

    Problem solved!

    OC
     
  17. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    Just cut spending, cut middle class welfare and remove tax rorts. How hard can it be?
     
  18. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    As SilverPete said, Sinclair Davidson and the IPA are absolutely for balancing the budget (and have been strong pro-Liberal supporters for this reason) but they are advocating cutting spending and waste and privatisation of assets as the way to go.
     
  19. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    Definitely. Taxes stifle prosperity and stagnate the economy.
     
  20. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Jesus... I got the [email protected] taxed out of me on the way up... didn't even get one of Rudd's cheques (made from my tax money)

    now I'm being taxed on the way down too!

    Never saw a dime of benefits...paid for everyone

    Now I hear 1000 'people' a week are signing onto national disability pension....1000 a week !!!!
     

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