Hockey screws Pensioners

Discussion in 'Current Affairs' started by JulieW, Apr 13, 2014.

  1. errol43

    errol43 New Member Silver Stacker

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    $500B ? Now what % of GDP is that? No where near 50% IMO. Thats a lot better than the USA , Great Britain and most European Countries.

    Combined State governments OWE MUCH MORE, not to mention Councils and the General Public including small Business. ;)

    The Australian Consumer society relies on debt to keep the giant Ponzi scheme going.

    Cut spending too much and as sure as the sun rises in the East, we will have a recession.

    Regards Errol 43
     
  2. JulieW

    JulieW Well-Known Member Silver Stacker

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    As I said, there will always be taxes and politicians distributing the largesse. The issue is the choices made. As a society you either take care of your weak and infirm, your aged and unwell, or you toss them aside, build gated estates and get a weapon.

    The current mob seems to be interested in the gated estates outcome. The previous mob wanted the latter. Both of them abuse the privilege of their position and both demonstrate high levels of incompetence and 'mouse that roared' syndrome.

    I hear Phillippines is a good retirement destination.
     
  3. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Not for a foreigner...

    Just ask an ex-pat there about the 'gringo-tax'
    or getting things done on 'Pinoy time'
    or the constant theiving
    not to mention the kidnapping
     
  4. millededge

    millededge Active Member

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    As a society, you work together towards the common good. Did that happen with the last government? It seemed sociopathic to me, aided by taxpayer funded TV stations and Fairfax. Everything seemed geared towards attacking the majority in whatever way possible. In the RP, if someone does this sort of thing to you individually, they can be rubbed out. However, if you are not a filipino, be prepared for some heavy duty palm greasing if you pull out the shotgun. Money talks.
     
  5. JulieW

    JulieW Well-Known Member Silver Stacker

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    I thought the Catholic base was a moderator in Phillipines.

    Live and learn.
     
  6. millededge

    millededge Active Member

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    It's Philippines, after a Spanish monarch, Philip II. Catholicism is less influential in Mindanao and islands around it like Palawan and Zamboanga, closer to former Sultanates of modern day Malaysia. Islamic culture is much more prominent there and predates Spanish and Portuguese maritime influence. In real terms that means the Abu Sayyef. The Catholic influence is very benign in comparison, especially for women.

    I love it how feminists get laryngitis when it comes to Islamism. Gutless wonders.
     
  7. nonrecourse

    nonrecourse Well-Known Member

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    Errol this argument is fatuous. When Howard/ Costello came in in 1996 there was a debt of $100 million and took 10 years to wipe. Today we have five times that level of debt and even with inflation it will take 20 to 25 years to extinguish the debt. I have voted for the labor party in the past when the opposition was brain dead.

    The problem is the labor party now is so fiscally inept that that have undermined the fabric of society.

    My father was a Tory but use to say that all politicians were like pigs in a trough. You never let the pigs control the public trough more than two terms because they soil the public trough. That is what happened to Howard.

    The solution of the greens and the loony labor left is increased taxation which is a recipe for disaster. You want to argue have a look at France it is an example of the wealthy and productive few who have walked away from French citizenship like fictional character who is john Galt in Atlas shrugged.

    Kind Regards
    non recourse
     
  8. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    Lying politicians? You were lied to for 6 years by people that told you anything that you wanted to hear in order to be liked. Free everything. Cable to every property in the country. All the while sending us into the deepest debt in the nation's history.

    Then comes Hockey. He does the opposite - Instead of blowing sunshine up your ass and lying to you while increasing our debt burden he makes the call to treat you like an adult and he tells you the truth. He tells you an electorally unpopular truth and that takes guts. He is giving a warning of what is going to happen so that those with the eyes to see and the ears to hear can prepare themselves. The smart will listen to him and get their financial plans in order. The rest, those who hate and resent anyone who dares interrupt their comfortable lies and delusions will get on social media and forums spew hatred and do nothing to help themselves, and they will still be complaining and spitting that "Labor would have given us free everything forever, we are victims, we need to be reassured, we deserve someone else to support us" until the day that they die.

    Understand this Julie: Socialist dreams never come true. Human nature cannot be legislated. This is not the "lucky country". The financial mess that the rest of the western world is in will impact us. Every western nation faces impossible unfunded pension obligations. Hating the person that tells you the truth will only hurt you. Loving the person that tells you comforting lies will only hurt you. Take Mr. Hockey's warning for the gift of some rare honesty from a politician and start making a plan for yourseld based on this information. Or don't. Your choice.
     
  9. JulieW

    JulieW Well-Known Member Silver Stacker

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  10. errol43

    errol43 New Member Silver Stacker

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    Yes, it only took 10 years to wipe the debt clean..These years were at the time of a great mining boom...It will be a lot harder this time to wipe the debt this time. Government owned Assets are getting as rare as hens teeth.

    Memory Refresh. At the last election, both parties supported the NDIS and more Education spending (Gonski) = $$$$$billions..Peter Costello warned them that with the Mining Boom coming off the boil, now was not the time to introduce such big spending items. Alas an election to be won, so whatever the red team offers, the blue team will match. A recipe for disaster?

    If Joe Hockey believes that we must get our of debt, why didn't he start from day one.

    30 odd year memory refresh...John Howard, the treasurer of the day, said that Australia was in debt for $1billion. After Hawke was elected it was found to be $9billion. Yet during the election $$$$ promises were been made left, right and centre.

    My dad used to say that politicians were like bananas, they start off green, turn yellow and finish up rotten.

    As for Ayn Rand and John Galt. Even she had to accept help in her final days.

    What of the extreme politics of the two major political parties in the USA..BORROW $$ TO KEEP IT GOING.

    The G20 will tell Joe what to do.

    Regards Errol 43
     
  11. Argentum

    Argentum Active Member

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    its a shame you dont get a politician that says: "we'll take less from you but we'll give you less" its the other way around always: "we'll tax more and provide you more services" which means one day they'll say: we'll take the lot and we'll provide for your needs. Which is kind of what happens when you go to a nursing home.
     
  12. Old Codger

    Old Codger Active Member Silver Stacker

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    I am a little surprised that the 15%(?) GST seems to have gone cold, and bashing the pensioners is now item #1.

    This disaster will only be solved by INCREASING income, and DECREASING expenditure.

    WHOLESALE!


    JMO


    OC
     
  13. Old Codger

    Old Codger Active Member Silver Stacker

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    I wonder if one day (soon) we may see our RBA quietly embark on a printing press solution to our budget problems.

    The AOFM issues weekly emails on the OZ Bond sales, and maybe the banks will take second place to the RBA itself. A billion here and a billion there, and soon you are talking REAL money!

    OC
     
  14. Old Codger

    Old Codger Active Member Silver Stacker

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    AOFM [email protected] via treasury-dvmh-web-01.cust.bulletproof.net

    9 Apr (6 days ago)

    to me


    Display problems? View this newsletter in your browser.
    Header
    Results of Treasury Bond Tender No. 681
    Wednesday, 9 April 2014
    Series Offered 4.75% 21 April 2027
    Series ID TB136
    ISIN AU3TB0000135
    Offered to Public ($million) 700
    Reserve Bank Take-up ($million) -
    Total Amount Offered ($million) 700
    Amount Allotted to Public ($million) 700
    Weighted Average Issue Yield (%) 4.2885
    Coverage Ratio 3.494
    Lowest Yield Accepted (%) 4.280
    Highest Yield Accepted (%) 4.290
    Total Amount of All Bids Received ($million) 2,446
    Total Number of Bids 46
    Total Number of Successful Bids 13
    Number of Bids Allocated in Full 3
    Best Bid (%) 4.280
    Worst Bid (%) 4.325
    Weighted Average Bid (%) 4.2974
    Amount Allotted at Highest Accepted Yield
    as Percentage of Amount Bid at that Yield* 72


    *Individual allotments may vary due to rounding.





    I shall follow these emails much more closely from now on. When i see "RBA take up" appearing as a buyer I will know it is on.



    OC
     
  15. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    No one should bear the burden - we are already bearing a burden. The burden of government debt. Government debt is much worse than personal debt because you have no control over it. With personal debt at least you can act to pay it down and eradicate it - you cannot do that with government debt. And the worst part of it is that it is not the government that owes the debt. It's not Treasury, or the Education Department or the Health Department, none of those so-called beneficial public institutions have one cent of debt that they need to repay. Sure, it's the government that makes the decision about how much debt it wants to borrow, but $530 000 000 000 of total government debt in Australia has to be paid back by the people. Now divide that number by 23 000 000 and every man, woman and child in this country has to pay back $23 000 in debt (tell that to your 3 year old next time they're badgering you to buy a lolly at the Woollies checkout!!).

    Increasing the GST to 12% will do nothing.

    Increasing income tax will do nothing.

    Unleashing the ATO Hydra on churches and tax exempt bodies will do nothing.

    Why? Because governments by their very nature are inept.

    PS: fossil fuel subsidies are not examples of massive corporate welfare, they are an example of massive consumer welfare.
     
  16. Old Codger

    Old Codger Active Member Silver Stacker

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    We are talking about TENS of BILLIONS of dollars a year.

    Balancing the books is NOT that easy!

    OC
     
  17. alexisio

    alexisio New Member Silver Stacker

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    How much do we give overseas ? Dont give what we aint got !
     
  18. Old Codger

    Old Codger Active Member Silver Stacker

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    Yeah, but wot about the poor starving mothers and babies, don't forget the babies.


    OC
     
  19. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    I presume you're talking about the diesel fuel rebate?

    If so, this is not a subsidy. Tax on fuel in Australia was first introduced in the early 1900s as customs and excise duties on transport fuels, such as petrol and diesel, to fund the development and maintenance of Australia's road network. The link between fuel taxes and road funding was reinforced by the provision of exemptions (and later rebates) of fuel tax for off-road users of diesel from the late 1950s, and by concessional rates of excise where fuel is used other than as a transport fuel.

    One of the most significant expansions of fuel excise occurred in 1957 when an excise on diesel was introduced to ensure that operators of diesel vehicles contributed to the maintenance of roads. It was at this time that the first exemption for excise was introduced, as diesel excise was only applied for on-road uses of diesel. This was because a formal policy of hypothecating excise revenue for road construction was still in place.

    The current "rebate" was actually introduced in 1982 as an alternative to the exemption scheme to reduce the level of fraud as there were on-road users that were obtaining diesel that had been purchased duty free via the exemption certificate system.

    A lack of a tax is not a subsidy. The lack of a levy that was introduced for a specific purpose (ie to aid road funding) is not a subsidy. That it all gets jumbled into consolidated revenue thanks to Menzies (the arsehole) means road users are generally being overtaxed.
     
  20. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    ^^ Green campaigns such as "Paid to pollute" dirty the air with misinformation.

    "Paid to pollute's" website conveniently muddies the waters by presenting facts and figures in the form of half-truths which are emotive and designed to get your signature on the petition:

    http://paidtopollute.org.au/ptp-about

    OT, if you are concerned about the future of the coal industry then you can sign here: http://www.australiansforcoal.com.au/
     

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