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GILLARD’S $12 BILLION BLACK HOLE!

April 29, 2013

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The Gillard Government has managed to achieve what no other has achieved in living memory; turn a booming economy with low unemployment, low inflation and ostensibly the envy of the rest of the developed world, into one which now faces a $12 billion black hole.

Only 18 months ago, the Gillard Government was resolutely committed to a budget surplus in 2013; a commitment that was trumpeted from pillar to post by Julia Gillard and Wayne Swan at every media opportunity.

Now, the Government finds itself with a staggering $12 billion deficit due to its inability to reign in its own spending to remain with the confines of decreasing Government revenue.

Even in the face of this dramatic downturn in revenue, the Gillard Government is determined to forge ahead with education reform and its NDIS despite the financial resources to fund these initiatives.

This is crazy stuff, but emblematic of a Government in its death throes, pushing through reform that no doubt the incoming Abbott Government will be force to wind back.

Earlier today Finance Minister Penny Wong told ABC Radio that “the nation has to deal with a new economic reality”.

“There’s certainly a new reality, a new economic reality that the nation has to face and the Government has to face,” she told AM.

Well it seems that “the nation” is acutely aware of the “new economic reality” more than the so-called Government.

Households know that in order to survive you need to manage your household budget according to your household income and expenses.

Only an idiot would continue to spend more than they can afford, on things they can no longer afford in the context of rapidly decreasing income.

But that’s the sort of people we’ve got running the country.

And by Penny Wong’s remarks this morning it appears they are not going to change their tune any time soon.

“We understand we have to make the right decisions today in this economic climate to ensure we can invest for tomorrow.

“What you can’t do is say ‘well, we’re just going to leave aside something as important as disability care, a fair go for all Australians with a disability’.

“You can’t say ‘we’re just going to leave aside the investment in our schools’, when we know too many young Australians are being left behind.”

Senator Wong denied the Government has been over-spending.

 

 

 

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112 Comments leave one →
  1. Tom of Melbourne permalink
    April 29, 2013 10:41 am

    ‘a 12 billion black hole

    I think you mean – A $$$$12 BILLION BLACK HOLE!!

  2. April 29, 2013 10:47 am

    “Failure is not an option. Failure is not an option here; and we won’t fail.”

    — Prime Minister Julia Gillard on delivering a budget surplus in 2013 (Jan 29 2013)

  3. April 29, 2013 11:45 am

    I see all the so-called “left wing” blogs are rightly outraged at the financial incompetence of the Gillard government.

  4. Tom of Melbourne permalink
    April 29, 2013 12:03 pm

    So called left wing blogs-

    *Ratings agency gives us AAA – ‘How good are we! Swan delivers surplus:
    *Ratings agency suggests AAA is in danger –
    ‘They’re in the pocket of Murdoch. Who cares about a surplus anyway?’
    *Swan promises a surplus – ‘Swan is the greatest treasurer ever. A surplus! He’s a wonder, sensational’
    *Swan abandons surplus – ‘Who cares? Surpluses aren’t that important, I’d rather debt’

    That lot are hilarious.

  5. April 29, 2013 12:32 pm

    You know if you keep hitting yourself in the head with the same hammer, projecting that the economy is bad, ignoring the vortex of vacuous aerated nothing the opposition refers to as “economics”…….sooner or later you will condition yourself into stupidity of manufactured outrage based upon hammer, head ouch. Or you could just stop doing it, throw away the dog whistle of faux alarm and gaze into the eye of reality. like the boats, the nbn the opposition have nothing left to sell but Austpost, the abc and sbs… Riase that 14 bill 10 fold and your closer to the oppositions pamphlet….

  6. armchair opinionator permalink
    April 29, 2013 12:47 pm

    pamphlet = policy

    Just hold up a pamphlet full of motherhood statements whenever anyone asks for planned policy and costings, who would know the difference anyway? Besides our astroturfing spruikers will shout over the top of any criticism. Lay low tony, don’t open your yap.

    Who is taking the public for a fool and a ride?

  7. egg permalink
    April 29, 2013 1:43 pm

    ‘the opposition have nothing left to sell but Austpost, the abc and sbs… ‘

    Good point, I agree they are ready for sale.

  8. egg permalink
    April 29, 2013 1:46 pm

    ‘Who is taking the public for a fool and a ride?’

    joolyajoolyajoolya

  9. Tom of Melbourne permalink
    April 29, 2013 1:49 pm

    Sell Australia Post, and some/most public buildings such as universities (lease back).

    I’m not sure about the ABC. I think keep radio national (in the public interest) and sell the rest.

  10. Neil of Sydney permalink
    April 29, 2013 1:52 pm

    “I’m not sure about the ABC.”

    Who would buy it?? Unless they are allowed to run adds the ABC would get no revenue.

    I say double the tax on all the people who voted Labor in 2007.

  11. Splatterbottom permalink
    April 29, 2013 1:57 pm

    “I say double the tax on all the people who voted Labor in 2007.”

    Some of us made and honest mistake – we believed Rudd.

  12. April 29, 2013 2:06 pm

    “Failure is not an option. Failure is not an option here; and we won’t fail.”

    ~ Prime Minister Julia Gillard on delivering a budget surplus in 2013 (Jan 2013)

    What part of “failure is not an option” don’t the Gillard Cheer Squads understand…??

    Gillard has a habit of setting her own expectations, and then failing to meet them.

    By her own admission, she is a FAILURE!!!

  13. egg permalink
    April 29, 2013 2:09 pm

    ‘Some of us made and honest mistake – we believed Rudd.’

    And I’m sorry to say I voted for joolya the last time around because she had stopped Kevin’s ETS.

    It looked like a safe bet, but she sold us out to stay in power …. unfknbelievable.

  14. Neil of Sydney permalink
    April 29, 2013 2:18 pm

    Actually I have heard Bolt say the ABC is doing damage to Fairfax and by default helping News.

    The taxpayer funded ABC has a similar audience to Fairfax which has to survive in a commercial environment. Leftoids are reading the Drum and dropping Fairfax. At least Fairfax generates its own revenue.

  15. April 29, 2013 2:23 pm

    Neil and Tom economic genius 🙄

  16. Tom of Melbourne permalink
    April 29, 2013 2:50 pm

    Thanks Ricky, I do have an honours degree in economics, but genius??!! Not quite everyone agrees.

  17. Ol' Sancty permalink
    April 29, 2013 2:59 pm

    Just hold up a pamphlet full of motherhood statements whenever anyone asks for planned policy and costings, who would know the difference anyway? Besides our astroturfing spruikers will shout over the top of any criticism. Lay low tony, don’t open your yap.

    Who is taking the public for a fool and a ride?

    Some of us said that about Kevin Rudd. But we were just Right Wing Death Beasts.

  18. April 29, 2013 3:15 pm

    So that will make the NO Coalition’s black hole in the region of $82 billion then! NICE!!

  19. egg permalink
    April 29, 2013 3:15 pm

    ‘I’m not sure about the ABC. I think keep radio national (in the public interest) and sell the rest.’

    Sounds reasonable.

  20. 2DT Shock Jock permalink
    April 29, 2013 3:24 pm

    “Neil and Tom economic genius”

    So what’s the solution Ricky ?

    Do you follow the economic geniuses over at your favourite Leftoid blog.

    You know the ones……….

    The ones that believe the Government should just print more money

    ROFLMAO at you

    The only way for this government to balance its Budget is to stop the reckless spending based on forecasts that are continually too optimistic (as pointed out repeatedly at the time yet ignored) or to raise or create new taxes.

    But Swan and that Vomit Inducing PM of ours cant even do that………….Mining Tax LOL…………..Carbon Tax (Euro price around $5 p/t with the Budget of 2015 predicting $29)

    You Leftoids are just a running bad joke just content with a bunch of economic criminals running a fiscal scorched earth policy.

  21. April 29, 2013 3:54 pm

    What’s the solution? Well you don’t have to to be a professor of economics to realise that you don’t sell everything and rent it back again because your new cult leaders don’t like the color. There’s that phrase again, the one used by the brainwashed ideological zombies. Leftoids. Oh I don’t agree so I’m a leftoid, what a tiresome bore. Go on do it.. prove your an economic prehistoric..say it go on, you want to, “free market economy” 🙄

  22. 2DT Shock Jock permalink
    April 29, 2013 4:02 pm

    Extract from Gillard’s speech today…..

    “Our key long term objective, the progressive purpose of this Government’s fiscal policy is enduring.

    It is:

    The Government’s medium-term fiscal strategy – to deliver fiscal surpluses on average over the economic cycle – is designed to give effect to this purpose in practice.”

    She seriously believes that people still listen when she talks about Fisacal Surpluses ?

    She’s a fucking idiot

  23. April 29, 2013 4:06 pm

    Back on the PC… i love the football team evangelistic rhetorical nonsense… One spends its investment the other spends it reckless. So Tom is that supposed to impress me? i impresses me about as much as this bragging lie of economic credibility http://www.finance.gov.au/property/asset-sales/past-sales.html

  24. April 29, 2013 4:44 pm

    “Well you don’t have to to be a professor of economics to realise that you don’t sell everything and rent it back again because your new cult leaders don’t like the color.”

    Nor do you have to be an economic genius to realise that you can’t buy something you can’t afford.

    Gillard and Swan are out there spending up large – despite dwindling revenue – and using taxpayers as their credit card.

  25. Splatterbottom permalink
    April 29, 2013 4:56 pm

    “i love the football team evangelistic rhetorical nonsense”

    Obviously. You are very good at it.

  26. Neil of Sydney permalink
    April 29, 2013 5:01 pm

    despite dwindling revenue

    Actually it is not dwindling. It is up by 7%. They are just spending it faster than it is coming in.

  27. April 29, 2013 5:16 pm

    Sorry I meant “dwindling” in the context of their revenue forecasts being completely off the mark..

  28. Neil of Sydney permalink
    April 29, 2013 5:17 pm

    Apparently Treasury/Swan predicted that revenue would go up by 11%. It ONLY?? went up by 7%. What retards are running the show??

    http://www.theaustralian.com.au/national-affairs/treasury/bn-hit-to-budget-revenue-forecasts-as-julia-gillard-quarantines-reforms/story-fn59nsif-1226631199943

    On today’s update, federal tax revenue will be about $340bn in 2012-13, down from the forecast of $352bn last October but up about 7 per cent on tax revenue in 2011-12 of $316.8bn.”

  29. el gordo permalink
    April 29, 2013 5:23 pm

    ‘They are just spending it faster than it is coming in.’

    Pork barreling in an election year, pathetic behavior.

  30. 2DT Shock Jock permalink
    April 29, 2013 5:25 pm

    “One spends its investment the other spends it reckless”

    I’d say its pretty fucking reckless to ignore so many independent commentators (like Craig James of Commsec or even Chris Richardson at Index, who is usually pro Treasury) who repeatedly warned the government…………..and I mean repeatedly warned ……….that the Revenue would never reach the predicted outcomes that Swan forecast but spend the extra money anyway.

    That’s fucking well reckless by any definition.

  31. el gordo permalink
    April 29, 2013 5:28 pm

    ‘you don’t sell everything and rent it back again’

    Cheaper than sitting on assets…. Sell Auspost Now!

  32. IPA address permalink
    April 29, 2013 5:46 pm

    Sell the NBN. Oh, that’s right, it’s unsaleable.

  33. armchair opinionator permalink
    April 29, 2013 6:46 pm

    Nor do you have to be an economic genius to realise that you can’t buy something you can’t afford.

    Economic geniuses know that you can buy what you can’t afford, it’s done all the time…houses, cars, business interests. Economic geniuses know that the difference is the capacity to pay it back and we have plenty of that. Economic geniuses know a national budget and kitchen table economics are vastly different situations.

    We are a wealthy nation, I wish you lot would stop talking as if we’re on the bones of our arse. You’re living in some kind of weird universe if you think we should cut back on everything that matters simply to have a surplus that will benefit no-one but the already well off. I can’t believe the whinging and whining from you lot of pretenders, you brag all the time on these pages about how good you have it, good incomes and your totally indulgent lifestyles. Then you whinge as if you are somehow in danger of losing it all tomorrow. What a sad bunch of greedy, selfish entitled arseholes, propping up your zombie economic system. ‘You lot’ are what is wrong with australia today and why people like howard and abbott, people who arouse hatred and division everywhere they go, are able to get to the top of the stinking shitheap that they infest.

    Back to the future eh? Those grand and comfy ole days of howard/& costello. Stop all social services for the poor and needy, let employers rage against the workers, privatise everything the taxpayers built up and invested in for decades so they can be ripped off by private enterprise. Set the rottweilers on workers and use citizen to attack citizen. Make the people pay the predators of big business for their own basic survival – things like their water and the air they breathe. Throw some crumbs to the serfs by way of things like baby bonuses and health rebates, hope nobody notices how much the big knobs are getting and then tell the serfs “they’ve never had it so good”. Cry over all the sentimental, patriotic, nationalistic stuff, cry for the soldiers that you happily sent to their death and ensure you have the power, might and goddam sheer evilness to beat down any show of democratic unhappiness, uprising or protest from those you pretend to serve. Use the power of the state forces to mercilessly kill your own people for daring to challenge corporate power and their politician bootlickers. Must protect the money, power and privilege. Make sure ‘the system’ works for the self appointed rulers and their parasitic mates.

    I’m feeling all nostalgic already.

  34. TB Queensland permalink
    April 29, 2013 7:00 pm

    Here ya go … takes yer pick(s) …

    If the shortfall was made good entirely from spending it would require:

    – Entirely abolishing all Family Tax Benefit A payments (saving $14 billion).
    – Or stopping all funding to the States for health care (saving $13 billion).
    – Or stopping all funding to schools (saving $13 billion).
    – Or stopping all funding to aged care homes (saving $8 billion), as well as community care ($2 billion) and veterans’ care ($2 billion).
    – Or cutting all Medicare payments by two-thirds (saving $12 billion).
    – Or cutting pensions to the aged by a third (saving $12 billion).
    – Or abolishing all disability pensions (saving $15 billion).

    Or if the shortfall was made good entirely from taxes and ‘tax expenditures’:

    – Extending capital gains tax to the family home (raising – eventually – $15 billion a year).
    – Or raising the current 45 per cent rate to 66 per cent (raising $12 billion).
    – Or having the current 45 per cent rate cut in at incomes of $65,000 rather than $180,000 (raising $12 billion).
    – Or raising the 32.5 per cent rate to 37 per cent (that is, do away with that rate completely, raising $10 billion).
    – Or lowering the $18,200 threshold to $12,500 (raising $13 billion, but you’d be taxing about an extra 650,000 people, including many pensioners).
    – Or taxing all superannuation contributions at marginal tax rates (raising $14 billion).
    – Or raising the rate of company tax from 30 per cent to 35 per cent (raising $12 billion – but also adding to franking credits that would cut the personal tax take).
    – Or adding 30 cents a litre in additional taxes on the price of petrol (raising $12 billion).
    – Or tripling the existing taxes on cigarettes (raising $12 billion, and adding about $17 to a pack of 25 cigarettes).
    – Or lifting the carbon tax to $60 dollars a tonne and removing the future link to the European carbon price (raising $12 billion).

    There was another list that included a few different “cuts” — eg baby bonus, first home buyers assistance …

  35. egg permalink
    April 29, 2013 7:00 pm

    ‘…privatise everything the taxpayers built up and invested in for decades so they can be ripped off by private enterprise.’

    Yes, particularly the ABC, SBS and Auspost.

  36. egg permalink
    April 29, 2013 7:03 pm

    ‘What a sad bunch of greedy, selfish entitled arseholes, propping up your zombie economic system.’

    You’re a watermelon, no doubt about it.

  37. Tom of Melbourne permalink
    April 29, 2013 7:12 pm

    Examples of Gillard’s economic ignorance –

    • Used the analogy of Australia’s debt to being like someone with an income of $100k that has a $10k debt

    …WRONG & DUMB

    • Today suggested that someone who doesn’t get the pay rise they were expecting would use debt to fund part of their living expenses

    …WRONG, IRRESPONSIBLE & VERY DUMB

  38. April 29, 2013 7:23 pm

    “I wish you lot would stop talking as if we’re on the bones of our arse. You’re living in some kind of weird universe if you think we should cut back on everything that matters simply to have a surplus that will benefit no-one but the already well off”

    No Kitty, that is not my point.

    My point is that Gillard was the one that said “failure is not an option” when it came to delivering a budget surplus.

    In much the same way that she said “another boat another policy failure.”

    It’s Gillard who keeps making promises (Wilkie) and commitments (surplus) she can’t keep.

    She needn’t do it, but she does.

    And I think the only reason she does it is to compete with Tony Abbott on who can be the most mean-spirited govt.

    I agree that a budget surplus isn’t a priority but Gillard is the architect of her own failure by cow-towing to the Coalition mantra that she would deliver one, and now has egg on her face (again) because she hasn’t.

    There’s no point blaming the rightards for her predicament.

    It’s entirely of her own making…

  39. TB Queensland permalink
    April 29, 2013 7:37 pm

    Some more to choose from …

    CUT THE FAT: Budget savings measures recommended by economists

    Welfare:

    BIN the baby bonus

    AXE the Schoolkids bonus

    TIGHTEN eligibility for social security and welfare payments

    RAISE the eligibility age for the age pension

    EXTEND the income test for the age pension to include super earnings

    ABOLISH the Senior Australians Tax Offset which discriminates by age, not income

    Health:

    INTRODUCE a Medicare-style levy to fund the disability insurance scheme

    END the private health insurance rebate

    INCREASE the Medicare Levy Surcharge to encourage people to take up private insurance

    Industry & Infrastructure:

    SCRAP industry assistance

    SAVE on infrastructure costs by encouraging greater private sector involvement

    Property:

    ABOLISH negative gearing of property

    GET RID OF first home owners grants

    DITCH the discount on capital gains

    Public sector:

    REDUCE bureaucracy

    CUT spending on security, including airports and security agencies

    TRIM interest payments by retiring debt

    Tax:

    RAISE the rate of the GST and apply it to a wider range of goods like food

    BOOST the rate of the mining tax and apply to a wider range of commodities

    UP the rate of the Petroleum Resources Rent Tax.

    REINSTATE indexation of the fuel excise

    CRACKDOWN on use of family trusts to avoid tax

    TIGHTEN tax concessions on super.

    So what should go?

    I mean … Noddy Newman & The Nitwits are now discussing selling schools???

    If anyone thinks that is a good idea … the USA awaits “broadminded” capitalist from other countries …

  40. egg permalink
    April 29, 2013 7:46 pm

    There’s a lot of middle class welfare in that lot and if joolya doesn’t cut them…. next year tabit will.

  41. Tom of Melbourne permalink
    April 29, 2013 7:46 pm

    Getting rid of about 30000 public servants would get about 35% of the way.

  42. April 29, 2013 7:49 pm

    Introduce “cash for clunkers” so that Labor MPs can trade themselves in.

  43. Neil of Sydney permalink
    April 29, 2013 7:55 pm

    People also forget that the interest rate on our debt is way above what the Europeans are paying. I think we pay 4% interest on our debt. The Europeans are paying much less.

  44. egg permalink
    April 29, 2013 7:56 pm

    They could scrap the household assistance package and clean energy future, should be a few billion in that.

    http://www.fahcsia.gov.au/household-assistance-package

  45. Tom of Melbourne permalink
    April 29, 2013 8:09 pm

    Ricky – ” So Tom is that supposed to impress me?

    No, but you did suggest that I’m a genius. While I may share your view, it isn’t a universal opinion!
    ———
    However, there are people on this site who have a better record of forecasting than Swan.

    TB warned of the GFC, in about 2006. I argued that a downturn was likely, but that the growth of China and the resources sector would help isolate Australia from the worst of it.

    Meanwhile Swan got it entirely wrong.

  46. Pull the Other One permalink
    April 29, 2013 8:48 pm

    I do have an honours degree in economics

    😆 Which online university did you buy that from? 😆

  47. Ol' Sancty permalink
    April 29, 2013 9:21 pm

    I do love how someone calling themselves “Tory Totcher” gets cut up about being labelled a Leftoid.

    I’d like to be able to write that we could save with the NBN, but I think that one’s in the other set of accounts.

    Can you imagine going to a bank for a loan and telling them “My income is projected to be $150k when for the last decade it’s been 90k?” That is what Gillard/Swan told the Australian people with the surplus. No one believed them, not even the rusted ons I don’t reckon.

    What I can’t shake is this tinfoil type sense that this trashing of the economy has been done deliberately.

  48. egg permalink
    April 29, 2013 9:33 pm

    Too easy, scuttle middle class welfare and we’ll be back in the black.

    ‘Australia’s Family Tax Benefits will cost about $20 billion in 2012-13. The system is too expensive and many clearly not in need receive monies they have already paid in taxes.’

    Gary Johns in the Oz

  49. Evil Walrus of Palm Beach permalink
    April 29, 2013 10:38 pm

    “I do love how someone calling themselves “Tory Totcher” gets cut up about being labelled a Leftoid.”

    Hehehehehehe…….!

    Yeah …..Funny that ay !

    They walk like ducks ,quack like ducks ,paddle like ducks ,fly like ducks

    Then complain when someone blows them apart with a shotgun (verbal of course?

  50. Evil Walrus of Palm Beach permalink
    April 29, 2013 10:42 pm

    “Some of us said that about Kevin Rudd. But we were just Right Wing Death Beasts”

    Damn you Sancty

    Thanks for reminding me of the one mistake I have made in my life

    LOL

    Voting for Kevin 07

  51. Evil Walrus of Palm Beach permalink
    April 29, 2013 11:04 pm

    The facts are

    1. We are as an economy heading for a bit of a dip.

    2. Wayne and the Fucktard PM have spent all the money so no Fiscal stimulus possible via tax cuts

    3. The RBA is not far from historic low interest rates already. So forget Monetary Policy getting us out of the Dip

    So we have no bullets left thanks to the Leftoid Scum of the ALP

  52. egg permalink
    April 30, 2013 6:40 am

    Two-thirds of SMH readers want middle class welfare to be scrapped.

  53. TB Queensland permalink
    April 30, 2013 7:23 am

    I notice, egg, has been the only one to comment that cutting middle class welfare is really the answer to the country’s budget issues … I might also add that most of the MCW was/is cynical political vote buying introduced between 2000 and 2007 …

    It must be obvious that Treasurers are generally the “victims” of Peters Principle and have no real idea of what the are doing … in my lifetime an relatively uneducated Paul Keating was the stand out, innovative Treasurer …

    (ToM, thanks for the recognition 🙂 )

  54. TB Queensland permalink
    April 30, 2013 7:24 am

    Wally, I get that you may feel a bit like me … storm in teacup?

  55. April 30, 2013 7:40 am

    I agree with cutting MCW and getting rid of the baby bonus.

    Maybe the govt could cut the generous post-political perks for pollies and cut their superannuation entitlements to those in the private sector?

    Oh how they laughed and laughed…

  56. Neil of Sydney permalink
    April 30, 2013 8:27 am

    in my lifetime an relatively uneducated Paul Keating was the stand out, innovative Treasurer

    Really?? What did he do?? I remember Labor deregulated the banking industry leading to some banks going under. Labor got rid of the tariffs destroying our manufacturing. I remember 30 months of double digit unemployment- nothing like it since the Great Depression. Victoria under Cain/Kirner almost going bankrupt.

    Ah yes, Superannuation. Could be a good idea but Labor is the Party of the unforeseen stuff up. I can see a future socialist govt getting us into so much debt a future govt may say we have to liquidate our Super accounts to pay off the debt.

    1983-1996 was not so great.

  57. 2DT Shock Jock permalink
    April 30, 2013 8:55 am

    “Wally, I get that you may feel a bit like me … storm in teacup?”

    I think the picture being painted is very much in line with LNP hyperbole at the moment. Middle Class Welfare MCW should be cut.

    Start at Family Tax Benefit B, Baby Bonuses, Home Grants plus I think we need to talk about whether all these reductions in staff ratios and skill sets in Child Care are affordable in terms of the extra costs of child care rebates.

    Yes research does show evidence of the need to be careful with brain development of children when young so they can grow academically.

    But how the fuckk do the Asian races do the same thing at a fraction of the cost……………………discipline and general family culture must have more to do with it than frigging staff ratios.

    And throw out Gonski plus get rid of the Education Department in Canberra which employs 4,000 fuckwits but does not run a single school.

  58. 2DT Shock Jock permalink
    April 30, 2013 8:56 am

    And dont tax Super on its way into a Superfund tax it on the way out. That way you discourage lump withdrawals

  59. TB Queensland permalink
    April 30, 2013 9:07 am

    Yep, I agree with most of that, Wally 😯

    Ther’es a bit more to the education system that needs to be done … and oddly enough it begins at university … teacher entry standards should be raised … teacher training should be modernised and based upon competency … as should education in general … if a grade 1 six year old cannott read to a competency standard then he/she should not be shuffled to Grade 2 but helped to learn to the competency standard (which should have been identified early in grade 1 with interim assessments … learning should never be based on AGE …

    Most teachers don’t understand the principles of learning just the stand and deliver approach … even with assignments the assessment is subjective and emotional rather objective and based on established competency standards … ie achievement goals that parents, teachers and children can understand …

    I also believe that negative gearing … an “incentive” that causes a lot of people to overstretch and get burnt, increases rent, encourages shonky sales and reduces housing available for first home buyers and inflates the price … leave it to the market if we live in a market … then you could get rid of the first home buyers assistance to …

    Family trusts should be immediately dispatched to the recycle bin … the biggest tax rort in the country …

    … business assistance? Why … once again if you can’t survive in a market economy you shouldn’t be there …

  60. TB Queensland permalink
    April 30, 2013 9:10 am

    And dont tax Super on its way into a Superfund tax it on the way out. That way you discourage lump withdrawals

    Or means test the “size” of the lump sum … I say that because we “skim” our earnings to live off … twice or thrice a year depending on earnings and need …

  61. TB Queensland permalink
    April 30, 2013 9:24 am

    Does the government support Celebrity Splash? That could easily be slashed …

  62. Ol' Sancty permalink
    April 30, 2013 9:29 am

    And dont tax Super on its way into a Superfund tax it on the way out. That way you discourage lump withdrawals

    I will never understand why Costello removed the tax on lump sum withdrawals.

  63. 2DT Shock Jock permalink
    April 30, 2013 9:37 am

    And does anyone run their household like Julia’s mythical John…………?

    “…………Once again, to break this complex picture down in to a personal story.

    Imagine a wage earner, John, employed in the same job throughout the last 20 years.

    For a period in 2003 to 2007 every year his employer gave him a sizeable bonus.

    He was grateful but in his bones knew it wouldn’t last.

    The bonuses did stop and John was told that his income would rise by around five per cent each year over the years to come.

    That’s the basis for his financial plans.

    Now, very late, John has been told he won’t get those promised increases for the next few years – but his income will get back up after that to where he was promised it would be.

    What is John’s rational reaction?

    To respond to this temporary loss of income by selling his home and car, dropping his private health insurance, replacing every second evening meal with two-minute noodles.

    Of course not.

    A rational response would be to make some responsible savings, to engage in some moderate borrowing, to get through to the time of higher income with his family and lifestyle intact and then to use the higher income to pay off the extra borrowing undertaken in the lean years………….”

    Oh really PM…………..is that what a rational person would do………………borrow even more ?

  64. 2DT Shock Jock permalink
    April 30, 2013 9:40 am

    “I will never understand why Costello removed the tax on lump sum withdrawals”

    Nor I

    Especially when he knew there would be less salary earners and more people living off Super.

    Have a $100K limit per annum on the way in (no contributions tax but tax earnings) then tax it once retired as they draw it out

  65. Ol' Sancty permalink
    April 30, 2013 9:43 am

    Something happened in the 90s with regard to teaching kids to read and I remember thinking it was bloody stupid at the time. It was to do with whole word recognition rather than word construction with letters and sounds. I think we are now seeing the consequences. Not that the teachers’ union will admit fault.

    Li’l Sancty (and his baby sister Olivia (Babya)) will both be taught the basics of reading and counting before they go to school. Li’l Sancty is 2 and can count to 20, recognise the numbers, recite the alphabet and recognise about 10 letters. I’m fortunate that he has largely driven this himself so I am only encouraging him to pursue activities that interest him. Otherwise I’d be initiating it at around 3 or 4 years old.

    But the foundations of academic life are far too important to be left to the various fashions of politically motivated activists. There are parents everywhere scratching their heads wondering WTF happened to their kids’ education. Well what happened is that they outsourced responsibility for their kids’ development in its entirety. School is only a part of it.

  66. egg permalink
    April 30, 2013 10:05 am

    From memory it was a female activist (I think her name is Spender) who said we won’t need to worry about spelling now that we have spell check.

    She is responsible for dudding a generation.

  67. Ol' Sancty permalink
    April 30, 2013 10:06 am

    Have a $100K limit per annum on the way in (no contributions tax but tax earnings) then tax it once retired as they draw it out

    Now that’s something I’ll also never understand. Dropping the super contributions concessional cap to $25k. I mean, what the fuck????? In the real world, serious retirement saving occurs when people are around 50 and have paid off their mortgage and offloaded the kids. For me it will be around age 60. Then you have cyclical workers, builders and the like, who make good money sometimes and lousy money at others. And there was our white knight Bill Shorten on the radio the other day generously raising this back up to $35k. Well whoopy fkn do!!

    Superannuation is about taking pressure off future budgets. It’s really simple. You leave the tax at 15% on the way in. There’s the incentive. You set a contribution limit of say 250k over a 5 year period. Maybe more. Then you concessionally tax income on the way out up to a point, say $100k with penalties for lump sums.

  68. TB Queensland permalink
    April 30, 2013 10:18 am

    Some good comments above (especially yours, James, re YOU educating YOUR kids) and I’ll comment later … off to see my Teutonic mate who, in his fifties, has been out of work for six months, he has a swag of quals and work experience … just can’t crack it …

  69. Ol' Sancty permalink
    April 30, 2013 12:58 pm

    I don’t mind paying another $300 to help out the disabled. But I tell you what, it’d better fkn be put to helping and not creating yet another fkn massive bureaucracy!

  70. 2DT Shock Jock permalink
    April 30, 2013 1:14 pm

    The collective thump…..thump………thump………..is a few million of us dropping our private disability insurance

  71. Tom of Melbourne permalink
    April 30, 2013 1:18 pm

    I’m not happy about paying even more income tax. I’d prefer an increase in the GST.

  72. 2DT Shock Jock permalink
    April 30, 2013 1:49 pm

    And then begs the question

    What is a “Disability”…….?

    Is it a visible disability from birth (spina bifida, cerabal palsy etc) or via accident (amputation/blindness)

    Or are we going to end up with a lot of “Lebanese Backs” and “Mental Disorders” commonly found in public servants.

    Yep someone had to ask

  73. TB Queensland permalink
    April 30, 2013 2:52 pm

    I’m not happy about paying even more income tax. I’d prefer an increase in the GST.

    That’s OK IF you have plenty of disposable income … but an increase in GST will hurt others …

    … lots of aged, disabled, veteran pensioners and their carers are on fixed incomes … all you do is make it harder for them … and people on lower incomes …

    FYI, aged pension for a couple is around $32,000 pa … and they don’t generally drink $15 bottles of red either … 😉

  74. Splatterbottom permalink
    April 30, 2013 3:12 pm

    “What is a “Disability”…….?”

    Given we on the same financial road to ruin as Greece, it might be instructive to look at their categories of disability:

    a government decision to expand a list of state-recognized disability categories to include pedophiles, exhibitionists and kleptomaniacs. The National Confederation of Disabled People called the action “incomprehensible,” and said pedophiles are now awarded a higher government disability pay than some people who have received organ transplants.

    The Labor Ministry said categories added to the expanded list — that also includes pyromaniacs, compulsive gamblers, fetishists and sadomasochists

  75. Splatterbottom permalink
    April 30, 2013 3:13 pm

    Come to think of it a few of us here might qualify!

  76. TB Queensland permalink
    April 30, 2013 3:23 pm

    Come to think of it a few of us here might qualify!

    Speak for yourself, sb! 😆

    BTW where on earth did that Greek rubbish come from? Surely not passed as part of a law?

  77. Splatterbottom permalink
    April 30, 2013 3:35 pm

    “where on earth did that Greek rubbish come from”

    Associated Press by the look of it.

  78. April 30, 2013 3:50 pm

    “pyromaniacs, compulsive gamblers, fetishists and sadomasochists”

    Here in Australia we just call them “Queenslanders.”

  79. Splatterbottom permalink
    April 30, 2013 3:54 pm

    I didn’t want to put it as bluntly as that reb, but you are on the money there.

  80. 2DT Shock Jock permalink
    April 30, 2013 4:01 pm

    Gillards NDIS Levy is being described as the “Fuck up Levy” in Sydney

  81. TB Queensland permalink
    April 30, 2013 4:20 pm

    Here in Australia we just call them “Queenslanders.”

    I didn’t want to put it as bluntly as that reb, but you are on the money there.

    Fkn Mexicans … only a few months ago, sreb, would have said, “we in Taswegia” … now he’s a boat people shacking up in Melbooorne … he thinks he’s “made it” … LOL!

  82. Splatterbottom permalink
    April 30, 2013 4:26 pm

    Oh, sorry TB are you from Queensland? 😛

  83. Tom of Melbourne permalink
    April 30, 2013 4:29 pm

    Meanwhile, ‘others’ discuss the deficit, and what should be done about it.

    A consensus is emerging- BLAME COSTELLO!

    When all else fails, when there’s nothing left to do…duck accountability and blame Howard or Costello.

    Nice work by all those who self select out of rigorous discourse.

  84. Tom of Melbourne permalink
    April 30, 2013 4:33 pm

    TB – ‘…and don’t generally drink $15 bottles of red either…’

    I don’t blame them, I wouldn’t drink that type of crap either!

  85. egg permalink
    April 30, 2013 5:33 pm

    Middle class welfare is political largesse and economically irrational. Howard was good at it.

    The budget will most likely target the baby bonus and a raft of other goodies of a similar nature, so we shouldn’t overreact on the deficit … its fixable.

    The good news is that joolya will be doing the cutting for the incoming government.

  86. 2DT Shock Jock permalink
    April 30, 2013 5:34 pm

    LOL

    Perhaps Gillard could Crowd Source donations to fill the Deficit just like this piece of
    Comedy Gold……………..!

    https://sites.google.com/site/craigthomsonlegaldefencefund/

  87. Splatterbottom permalink
    April 30, 2013 5:51 pm

    Gillard: “As a Labor Prime Minister, I find these decisions both urgent and grave”

    What has “Labor” got to do with it other than that she will continue to pay off the unions, whatever else happens.

    The fact that she is Prime Minister should be reason enough for her to make prudent decisions. But instead, as “Labor” Prime Minister, she has spent like a fiscal crackhead. If she is typical of “Labor” Prime Ministers then there won’t be any more of them elected*. It is going to take a very long time for people to forget the dumb leftist stupidity of this pathetic Union stooge.

    * This assumes that Abbott is at least a half-decent PM but sadly that is not a given.

  88. TB Queensland permalink
    April 30, 2013 7:07 pm

    Oh, sorry TB are you from Queensland? 😛

    Comprehension has never been a strength in Tories … 😛

    Here’s a clue – up and to the left of my posts … ya know the fkn MAROON horse! 😆

    ++++++++++++++++++++++++++++++

    ToM, even the economists are saying that, Tip Custard, must accept some of the blame … and economists are speshul – apparently …

    ++++++++++++++++++++++++++++++

    I’m trying to fine Clivey on Sunrise this morning – anyone got a link?

  89. Splatterbottom permalink
    April 30, 2013 7:10 pm

    I thought you must have been a chess player!

  90. TB Queensland permalink
    April 30, 2013 7:11 pm

    It is going to take a very long time for people to forget the dumb leftist stupidity of this pathetic Union stooge.

    Its almost Whitlamesque … but it not ’cause I see Liberal Lite all over the place …really, really surreal politics …

    I keep thinking – if only they could “sell” what they’re flogging … but I don’t eat feary floss these days …

  91. Splatterbottom permalink
    April 30, 2013 7:12 pm

    He’s on this video.

  92. TB Queensland permalink
    April 30, 2013 7:14 pm

    I thought you must have been a chess player!

    LOL! Your improving with age! (Wot yo mean, must ‘ave … I still is)

    I learnt as I sailed down the Suez in 1960 … not only did I teach my kids to drive but to play the game of kings! (And my grandsons … I must talk to my favourite g/daughter tomorrow!)

  93. Tom of Melbourne permalink
    April 30, 2013 7:51 pm

    TB – even the economists are saying that, Tip Custard, must accept some of the blame …

    Yeah, economists are a particularly diplomatic lot. They’re always reluctant to singularly attribute blame.

    BUT, Costello hasn’t held office since 2007, and Swan has had 6 years to wash out his legacy.

    But Swan hasn’t, BECAUSE SWAN IS A COPMLETE F**KING IMBECILE!!

  94. TB Queensland permalink
    April 30, 2013 8:51 pm

    Chuckle …

  95. May 1, 2013 7:59 am

    “Labor in a budget quagmire of its own making” writes Greg Jericho (Grog’s Gamut)…

    I guess that means he’s now part of the “hate media” now too….. 🙄

    http://www.abc.net.au/unleashed/4660850.html

  96. May 1, 2013 8:03 am

    On introducing a new tax to fund the NDIS:

    “I have in the past ruled out a levy and I will do it again now”.

    ~ Julia Gillard (December 2012)

    http://www.sbs.com.au/news/article/1761548/Comment-PM-backflip-on-NDIS-levy-would-come-at-political-cost

  97. Splatterbottom permalink
    May 1, 2013 9:06 am

    “ot only did I teach my kids to drive but to play the game of kings! (And my grandsons … I must talk to my favourite g/daughter tomorrow!)”

    The question is whether you let them win occasionally. I do with my kids, but only now and then. It takes an effort. I figure that if and when they beat me they will enjoy it more if they’ve earned it. I’ll probably be much more laid back with the grandkids (when I get some).

  98. May 1, 2013 9:26 am

    “The question is whether you let them win occasionally. I do with my kids, but only now and then. It takes an effort.”

    Haha.

    I can strongly relate to that!

    I taught my daughter to play chess & enjoy a game with her. You can only get a minimal ego rush from repeatedly dominating a 13yo though.

  99. May 1, 2013 9:28 am

    “I guess that means he’s now part of the “hate media” now too…”

    I think that everyone outside of the useful idiots ‘true believers’ knitting circle is a part of The Hate Media now.

  100. Ol' Sancty permalink
    May 1, 2013 9:45 am

    You can only get a minimal ego rush from repeatedly dominating a 13yo though.

    Funny. My Dad seemed to have no problem with it.

  101. TB Queensland permalink
    May 1, 2013 10:08 am

    The question is whether you let them win occasionally.

    I have a 15 yo g/son regularly clobbers me … little sod!

    I actually taught my old man to play … and he could get the occasional win … BUT the more we played the more the wins/losses evened out 🙂

    Without trying to patronising … I really don’t care if I win or lose if I the game is good … my last game was at a holiday park a few months ago with the 15 yo mentioned above … using an oversize outdoor set … we ended up with seven or eight people watching (and passers-by) … good game …

    When was a motor mech we used to play our own little tournament (four of us) at lunchtime …

    ++++++++++++++++++++++++++++

    James, I can relate to that.

  102. TB Queensland permalink
    May 1, 2013 11:47 am

    Dear TB,

    Today I announced a strong and stable funding stream for generations to come for DisabilityCare Australia, the national disability insurance scheme. We will increase the Medicare Levy by half a percentage point from 1 July 2014 – this will take the Medicare Levy from 1.5 per cent of taxable income to 2 per cent.

    The key thing I need Australians to know is this: for someone earning an average wage of around $70,000 a year, this will be a modest contribution of around 96 cents a day.

    If you can share that one fact with every one you speak to about DisabilityCare, I know we will get this done.

    Julia

    Can someone explain this email I just got …

    Here’s the Medicare Table for charges …

    http://www.ato.gov.au/individuals/content.aspx?menuid=0&doc=/content/00233246.htm&page=23&H23

    … you’ll notice that it kicks in for singles at over $84,000 … how does that work for the 96cents calculation above …??

    Just askin’ …

  103. TB Queensland permalink
    May 1, 2013 11:57 am

    I see, Mr Kohler, agrees with many of the comments made here yesterday …

    What’s really needed is a spring clean for the public finances, which usually requires a change of government.

    http://www.businessspectator.com.au/article/2013/5/1/politics/handout-blowout-thats-costing-budget?utm_source=exact&utm_medium=email&utm_content=277727&utm_campaign=kgb&modapt=

  104. Bacchus permalink
    May 1, 2013 12:02 pm

    That’s for singles without private health care TB – it’s the Medicare levy surcharge.

    Try this page…
    http://www.ato.gov.au/individuals/content.aspx?menuid=0&doc=/content/00250854.htm&page=3#P67_3584

    The average wage is ~$70K meaning an extra 0.5% levy is an increase of $350.

  105. grodo permalink
    May 1, 2013 12:17 pm

    Nice to see you Baccy.

  106. 2DT Shock Jock permalink
    May 1, 2013 12:24 pm

    “Can someone explain this email I just got … ”

    Yes

    Julia must have authored something over at the Cafe and then stolen your email.

    It has been known to happen

  107. TB Queensland permalink
    May 1, 2013 12:42 pm

    Thanks Baccy … but that’s a bit confusing for folk? Isn’t it?

  108. Bacchus permalink
    May 1, 2013 1:05 pm

    that’s a bit confusing for folk? Isn’t it?

    Not really – for old folk perhaps 😉
    😆 :mrgreen:

  109. May 1, 2013 1:25 pm

    I wasn’t going to say it Bacchus. 😉

  110. TB Queensland permalink
    May 1, 2013 4:07 pm

    If ya can’t say anything noice … ????

    Bunch o’ fkn arseholes … as if you lot are young and sprightly … 😆

  111. May 1, 2013 4:31 pm

    I am.

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