Budget Night Bingo!

Here in San Diego it’s warm and few seem interesred in the budget

If the budget starts at about 8pm . that’s 3am here and I’ll be talking to Fifi’s Californian cousin , though probably about the budget or something

And murdor has definitely chosen his side in this election, and the polishing has begun in earnest.

So, after you get past the polishing the media are currently giving the budget, it seems this is really the libs first two budgets with even more polish than the previous two.

The first Turnbull budget will be propped up by about $13 billion of so-called “zombie measures”, which are still on the books from the first and second Abbott budgets but have not yet been passed by the Senate.

Read more: http://www.smh.com.au/business/federal-budget/budget-2016-tony-abbotts-zombies-add-billions-to-malcolm-turnbulls-first-budget-20160502-gok2hr.html#ixzz47XIyMiyn
Follow us: @smh on Twitter | sydneymorningherald on Facebook

And, if the election is called on the weekend, will this be the first grubmint to never have passed a budget?

Build a wall and send the bill to Mexico

“A Stronger Australia”

“A Better Future”

“Responsibe Policy”

I don’t know about budget night, but I gets the feeling election night is gonna be looooooooooooong for poor ol nil 🙂

“…and are curently having it turned back on their faces, courtesy no less than from a pro smoking numpkin…..”

If you are going to ask the PBO pretty much the same question then dont be surprised if you get pretty much the same answer.

Looks like Ricky Muir is a Guttertrash fan too

Hi HD

😆

😯

“Why are they fighting so hard to get Labor elected? Do they know something we don’t?”

I agree

I cannot believe how hard they have gone on people saving for a moderate income retirement. Restricting after tax contributions to a $500K limit (fucking well back dated to 1 July 2007) is going to significantly affect those looking to down size (or inherit) especially where there is say a 3 to 5 year difference in ages of partners where there is one plus the reduction of the $35K for over 50s and $30K caps for under 50s is just so fucking shortsighted its beggars belief.

How many fucking times are these caps going to be changed.

It appears Nick Ross is getting mightily fed up (rightly so) with his treatment from theirabc

But this budget? it doesn’t undo any of the cruel 2014 stuff but it doesn’t really do anything else either.

FirstDog has it right, again. It struck me when morriscum said wtte “the poor got given stuff earlier, so they get nothing now”

Well, by all measures, the “poor” got sweet fa from the past two budgets, so I’m not sure what he is talking about. Yes, he is talking about Carbon Price measures specifically, but, the budget, as a whole, did nothing for the lower socioeconomic, in fact, it hurt them (or tried to)

Last @ TR … KL’s comment re NBN certainly ain’t funny!

whew

This is a welcome change……………

“…….from July 1, the government will make it cheaper to produce deer velvet in Australia. It will stop charging an excise levy on the production and sale of deer velvet, and will also remove the charge on exports of deer velvet and the customs charge on live deer exports. Looks like there will be more Aussie deer heading overseas.”

http://www.news.com.au/finance/economy/federal-budget/federal-budget-2016-you-wont-believe-what-theyve-cut-and-spent/news-story/ab7b192c8f463714c075bc47c1c42385

“They’re pandering to Big Venison.”

Well their not pandering to the population upwards of 40 y/o saving for retirement.

I cant believe that people already on transition to retirement pensions are being whacked.

just the rich pricks

I did read an article this morning that claimed this will just send them into an already distorted the housing market.

http://www.businessinsider.com.au/credit-suisse-the-budget-is-bad-for-the-share-market-2016-5

It would be better for Australia if people put their spare cash somewhere else other than in property.

That’s IF they have “spare” cash, that is.

It is now more attractive to use NG for all asset classes other than Cash of course.

Then why did the Reserve Bank drop interest rates yesterday?

What an ignorant, arrogant, out of touch prick, MALfunction TurnAbbott, has proven to be

The difference between the Coalition and Labor on this topic is as usual the Coalition is more honest, Labor may say they will do something and may indeed do something but it will make no difference.

But as usual it will sooth the conscience of loyal ALP supporters that even though Labor is useless they at least thought about doing something

http://www.smh.com.au/federal-politics/political-news/how-property-investing-politicians-have-skin-in-the-game-on-the-negative-gearing-debate-20150326-1m8s36.html

The Greens own 16 properties. Number of properties for Coalition is 2.7 and for Labor is 2 per person

So? Unless your claiming he acquired them illegally, what’s your problem?

Wow, talk about Strawman. It’s nothing to do with illegality. It has nothing to do with him being rich. It has everything to do with taxpayer dollars being given to already rich people which does nothing but help that rich person get richer, and gives them an advantage over somebody else who is trying to buy their first house.

It SHOULD be illegal. It is at the very least immoral.

Number of properties for Coalition is 2.7 and for Labor is 2 per person

You miss the elephant in the room … again. Labor are moving to fix the problem.

I also hear rumours of a “ten year plan” mentioned in the bludget yesterday, but they forgot the ten year funding bit 😯

You miss the elephant in the room … again. Labor are moving to fix the problem.

Didn’t you read my post? Labor will huff and puff and then do nothing. According to the link one Coalition guy has 40 properties. take away the outliers and the 2.7 versus 2.0 homes per person for the two major parties would become much closer. I think the days of Labor MPs being from the working class are over.

A completely different argument.

You started it

Look like another lib Treasurer is putting us further into Structural Defect

The Australian Financial Review has been told the cost of the government’s company tax cut plans over 10 years is close to $50 billion but the government is steadfastly refusing to say anything publicly.

Read more: http://www.afr.com/news/politics/election/election-2016-scott-morrison-steps-up-high-tax-attack-on-labor-20160504-gommwl#ixzz47k7rdcI2
Follow us: @FinancialReview on Twitter | financialreview on Facebook

They crapped on for the last 3 years that Labor hadn’t funded Gonski etal, even though they had, but now, on the eve of a losing election, AGAIN load the books with further debt. Has Costello been helping them out with this bludget?

Look like another lib Treasurer is putting us further into Structural Defect

It is comments like that which reaffirms my belief in Labor supporters. Totally deceitful.

Costello ran 9 surplus budgets out of 11. So lefties spend time on how to trash Costello. So they bring up this concept nobody knows much about. But lefties say Costello ran structural deficits and everybody believes it.

There were no structural deficits under Costello.

Howard & Costello left a huge structural deficit

No they did not. This structrural deficit crap was introduced by evil people to try and trash Costello. Treasury has had several goes at measuring this concept and comes up with a different result every time. This from AO’s link.

Using the mid-point of estimates from the OECD and IMF] the budget began the noughties in structural surplus, but then the structural balance declined steadily between 2002-03 and 2011-12, from a surplus equivalent to about 2.5 per cent of nominal gross domestic product to a structurally balanced budget in 2007, before falling to a structural deficit of about 3.75 per cent of GDP in 2011-12…

Itis not possible to accurately a SD but AO’s link said the budget was in structural balance in 2007. It did not go into SD territory until Rudd/Gillard.

Supposedly this SD crap was caused by Costello tax cuts. Swan gave tax cuts in all his budgets but for some reason he gets no blame even though they took their tax policy to the 2007 election and everybody voted for it.

Also some lefties say Costello taxed too much and some say he taxed too little. Which is it?

Right at the start of a GFC too.

You beat me to it AO 😉

(That’s IF they have “spare” cash, that is.

Erm, there’s almost always plenty of spare cash available to the suitably-qualified, for a price. And, I was almost led to believe that’s a virtue of the investor-oriented growth presaged in the Budgeteer’s quietly-confident, cautiously-brave new economy: living within our means explicitly means enhanced private dissavings and burgeoning private debt loadings, with rapid public revenue write-offs, to stimulate the kind of on-paper productivity gains essential to realising fiscal consolidation’s harmonisations with world-class monetary policies, and vice versa.

Also some lefties say Costello taxed too much and some say he taxed too little. Which is it?

Both. Manipulating the velocity and volume of money resulted in Pineapple Pete taking credit for being the best credit card skimmer in the world for over a decade, an entrenched structural deficit, the economy overheating, a latent property bubble (one which the RBA continues to express strong concerns about), higher exposure to a Credit Crunch, and internal and external (forget about the original debt truck, left idling since ’96) debt overhangs .

Libs refusing to reveal huge cost of 25% company tax rate because the revenue hole it creates can only be filled by a higher GST

Back to the glorious Costello days of double-skimming the credit cards, with added interest, ‘ey?)

Both

Well f true which it is not why didn’t Swan fix the problem? By the way what do you think of this statement by Swan from his very last budget?

http://www.budget.gov.au/2013-14/content/overview/html/overview_41.htm

The Government has delivered $47 billion of tax cuts in our first four years since coming to office. In addition, we have provided further tax cuts as assistance for the cost of living impact of the carbon price from 2012‑13. Even after accounting for the small increase in the Medicare levy in 2014‑15 we will be delivering total tax cuts of around $20 billion a year over the next four years compared to the 2007‑08 tax scales.

He even provides a column (the last one)which shows how much better his tax cuts were compared to Costello’s

The GFC finished years before Swan lost office. Why didn’t Swan say after the 2010election we are putting the income tax scale up?

The GFC finished years before Swan lost office.

So, I’ll take that as a “didn’t really accept the GFC as a ‘thing’ ” 😉

here we are stuck in the middle with Malcolm (as Mr Blonde).

The voters being the cop?

and we’re not as dumb as he thought we were

i think that is the most plausible answer.

He’s not stupid, you don’t get that successful by being dumb.

BUT, you CAN get that successful taking advantage OF those that are dumb.

Why can’t we pick our own colors?

It doesn’t matter the coloUr, as long as you know ……..

Labor fixes it

That comment is very deceitful. Labor abolished the Pacific Solution and let in 50,000 boat people, locked up 8,469 children and reopened a problem Howard had solved.

Same goes for every major problem we now face.

infrastructure lags (ie NBN)

Labor stopped this

http://www.techworld.com.au/article/395910/opel_would_serving_bush_broadband_today_turnbull/

Federal opposition communications spokesman Malcolm Turnbull has used his National Press Club address to argue the decision to scrap the Howard government’s OPEL network for an NBN has denied the bush broadband services over the past three years…..It is no accident the technologies to be deployed by the NBN are the same as those which would have been used by OPEL. And, had that scheme not been cancelled by Labor in 2008 would today be providing fast broadband to Australians in those areas.”

(What might a Julian Simon devotee make globally of the industro-capitalist powers-that-be concentrating efforts on developing next-gen tech for sourcing, storage, and distribution of intrinsically more abundant and eventually even cheaper energy; while last-gen energy and tech, especially petroworld, is exceedingly busy selling off its sovereign-national wealth at a brought-forward future-discount, to liberate liquidity for a present-day buy-in and market-making-and-share-taking stake in the inevitable susbstitutionary-emergent?)

And where should the cuts go?

I’d start with huge cuts to the public service. Get rid of the direct employment model and have one based on accountability and contestability.

Reduce state funding. States are bloated and inefficient – they haven’t felt the fiscal pressure and just throw a tantrum at the first suggestion of restraint and reform.

Then get rid of middle class welfare and introduce a system of work for welfare for all recipients other than old aged pensioners.

Disability pensioners can do some form of community service to the extent of their ability

,..but I’m also ok with negative gearing reform and tightening of on the multinationals.
—
Nice surf here, but junkets conferences can be hard work.

I’ve been here for a week and I have yet to meet anyone who likes Trump. But i don’t mix with red neck bogans and racists.

Greens-Liberal preference deal makes a Coalition victory more likely – at the expense of actual progressive govt.

I wish the Greens and Labor would stop with their petty little gotchas. Every time they do it, they are not only shown to be wrong, it takes attention away from the REAL enemy.

Not helping Albo!

Luckily for me, I’m to busy to be really concerned with the matters of mere mortals. 🙂

Sydney was fantastic, now I still have Adelaide to go. It doesn’t get much better than this

“And let’s not forget about the dickheads who skipped grammar class and ended up counting other people’s money for a living.”

And let’s not forget about the dickheads who skipped grammar class and ended up counting other people’s money for a very high standard of living.

Fixed it for ya !

“”You really believe that other people don’t work hard “”

I knew the teary eyed fanatics would shuffle out of their caves

As usual that”s not what I said

He said this …………………………..

“” I didn’t get a good education and made the wrong choices at 13. When you know it’s your own fault that you’re not making a lot of money, it hurts.”

I could have also””retired””to the beach at 13 but I didn’t

“”Others fronted up to school every day they could, went to Uni based on merit, kept studying part time after graduation and worked plenty of unpaid overtime to get where we are today””

“”You must be a very lonely soul, Walter””

Actually………………………………………………Nope !

And this bit might surprise iyou

I dont give a flying rats arse about what you think of moi LOL

LOL

Seems I am not alone afterall

“DUNCAN Storrar pleaded for a tax break for people on minimum wage but it turns out he is already getting one.”

“Just another bludger with an inflated sense of entitlement,”

“Just a simple ‘thank you’ to those of us who support you would have been more appropriate, Duncan,”

“How dare he ask for more from the people who already put food in his mouth, that of his kids, and that of the housing commission dwelling ex.”

http://www.news.com.au/finance/economy/federal-budget/aussie-battler-who-asked-for-a-tax-break-already-pays-no-net-tax/news-story/913bd82a60618bfb08d28437a3bae1a0