2019 Federal Election

[Gronk]

Well that is a valid argument.

It's a valid argument used by merkins who give no f**ks.

Climate change deniers are all about delay and distraction. Even if it is real, they just don't want to pay for it.

John Alexander is the latest with sage advice for our friends in Fiji.


This guy takes the view that you don't have to lower emissions to combat rising C02 levels. The most cost effective way to deal with climate change is to build a wall around New York. So the pragmatic approach to climate change is work it out when it happens. Move to higher ground or just build a wall. Everyone for themselves !

 

[Gronk]

Anning was on the One Nation ticket, so after One Nation got a quota, the extra votes go to the next one down the line.

The third person elected in any particular State on the Liberal/National or Labor ticket I'm guessing also got 17 personal votes and also essentially gets a 6 year gig on 17 votes.

Sure, he replaced Malcolm Roberts who was elected on 77 votes.

If there was ever a reason to vote below the line ....

 

[crocodile]

Quite the contrary dear Watson.I took a big personal financial hit with the GFC.
Um!! Costello finished December 2007 as we know.
How would Kevin 07 have managed the GFC without the surplus Costello created?Taking into account the Pink batts stuff up, which resulted in deaths and companies going down the tube.

The funny part Graeme Richardson the old Labor stalwart(for which I have. a lot of time for) described Rudd as one of the worst PMs this country has seen.

Not much differently. The surplus left was around $20 billion. Net debt would have been about 1.5% higher and even less today since GDP is bigger than it was 10 years ago. Peanuts in the big picture.

 

[crocodile]

Perhaps you can explain why the last Labor Surplus was 1989.

Since federation we've only had 17 of them. Except for a bit political chest beating, they're never really needed. Surplus is good for the salesman and that's about it.

 

[taipan]

Since federation we've only had 17 of them. Except for a bit political chest beating, they're never really needed. Surplus is good for the salesman and that's about it.

You still have to service debt ,.It ain't charity and future generations have then to support it .

 

[84 Baby]

 

[crocodile]

You still have to service debt ,.It ain't charity and future generations have then to support it .

Surpluses are not required to service debt.

 

[taipan]

Not much differently. The surplus left was around $20 billion. Net debt would have been about 1.5% higher and even less today since GDP is bigger than it was 10 years ago. Peanuts in the big picture.

Of course, then we had Wayne Swan promised surpluses which resulted in .......,maybe politicians better shut up, and get on with it, without the snake oil salesman technique.
I've seen politicians of all persuasions come and go, and the number worth their money could be counted in a few dozen in the 20th and 21st century.
Everything is fine when GDP is growing and when the world economy is hanging in ,as the GFC has shown us.
I guess I follow the Keynsian line.In recession or depression the Govt put up to stimulate the economy, yes such as Labor did GFC but they stuffed some things up.
But in times of boom cut back, else the economy gets overheated.
For me the big worry is the World economy and what the long term effect off that will be

 

[taipan]

Surpluses are not required to service debt.

Didn't say they were, but interest payments are.Govt Overseas borrowings are not freebies.

 

[taipan]

Can someone tell Taipan that Delboy has hacked his account

Good hope he enjoys it.

 

[strider]

Donkey votes are dumb. In the 2016 election 5% of merkins drew a knob on their papers, or at least purposely rendered their votes informal.

In the days of hung parliaments with the two major parties struggling to form governments, your vote is far more crucial that you think.

At the very least, you should lodge a protest vote and put your local fringe do-gooder first rather than the mad merkins like labour liberal one nation greens or palmer. At least your protest vote will flow through in preferences.

We are lucky that we have a vibrant democracy. Please don’t thumb your nose at it.

knob ... hung

hehehe

 

[crocodile]

Didn't say they were, but interest payments are.Govt Overseas borrowings are not freebies.

Surpluses are not required for the interest obligations either. They're part of the accumulated debt and are extinguished when the associated bonds and financial securities are redeemed. The Federal Government does not borrow from overseas sources. All bonds are issued in sovereign currency.

 

[taipan]

That is exactly my point, now you have done all the hard work it is time to cash in the asset and bask in the glory of your personal surplus.

Unfortunately the" asset "still has attached debt.
So that great financial adviser Bill can look after it.All his experience in the commercial world running businesses will provide just the assistance I need.Wayne Swan wasn't much help, but there you go.

 

[crocodile]

Of course, then we had Wayne Swan promised surpluses which resulted in .......,maybe politicians better shut up, and get on with it, without the snake oil salesman technique.
I've seen politicians of all persuasions come and go, and the number worth their money could be counted in a few dozen in the 20th and 21st century.
Everything is fine when GDP is growing and when the world economy is hanging in ,as the GFC has shown us.
I guess I follow the Keynsian line.In recession or depression the Govt put up to stimulate the economy, yes such as Labor did GFC but they stuffed some things up.
But in times of boom cut back, else the economy gets overheated.
For me the big worry is the World economy and what the long term effect off that will be

A bit unfortunate for the world's greatest treasurer. More unfortunate is his forecasts by legislation must be derived from the forward estimates from treasury thanks to the 1998 act, the charter of budget honesty. f*ck all he could have done about it, even he wanted to.

 

[taipan]

Surpluses are not required for the interest obligations either. They're part of the accumulated debt and are extinguished when the associated bonds and financial securities are redeemed. The Federal Government does not borrow from overseas sources. All bonds are issued in sovereign currency.

Evatt Foundation 10/3/11
'A budgetary deficit can be funded by the sale of Govt Bonds,in which case the Govt commits to pay interest to the
holders off those bonds and to repay the principal at future date.The purchasers of the bonds may be Australian or foreign, and only in the latter case does Govt have any relation to foreign debt(and in practice Corporate Debt),usually comprise most of foreign debt.
On one hand Govt debt like your personal debt can be good from the economic standpoint, if it facilitates expansion of capabilities and choices.
On the other hand ,Govt debt like personal debt can be bad if it creates a major burden of interest payments that reduces the amount of tax revenues that the Govt can spend on socially and ENVIRONMENTALLY friendly worthwhile projects.Such debt impedes economic development and increases economic dependency.
Federal debt is not a problem, however (and this is my point) what the debt is used for has to be kept under critical scrutiny."

Thus it still amazes me why Wayne Swan predicted surpluses swell in advance.I'll say it again whilst tax revenues come in based on forward estimates fine,.but if the GFC comes in again in bigger fashion and tax revenues drop substantially particularly when Corporate profits take a dive and unemployment up largely, you already have a big deficit then then Got has to stimulate the economy with further money via debt.
It's one hell of a balancing act, and it affects everyone .

 

[Bandwagon]

I read that and the current budget has me saving like $11,000 in tax in the future.......i am confident that i will get maybe a couple of hundred out of Labor maybe in 25 onwards.......

Maybe i'm missing something? Labor committed to nothing and i know they hate people who earn money........except themselves of course but they find ways around that no doubt.

The governments slated tax reductions for the kind of earnings you are talking in order to make that kind of saving on tax are not slated to be introduced into parliament until the parliament after next

That is to say they are two elections away at best. and conveniently as far as the current budget is concerned are outside of the forward estimates, which in layman's parlance means they have not been costed Nor have they been budgeted.

So yeah mate, you are missing something.

 

[hindy111]

To be fair, I think people are far more informed on politics these days than they were in the past. TV and radio were the primary source of information years ago but with the advent of social media and forums to the mix, only an idiot wouldn't be able to make an informed decision on who to vote for. As far as people making random decisions or donkey votes is concerned, they're not using their ability to vote wisely.

Sure. But a lot of fake news on facebook

 

[crocodile]

Evatt Foundation 10/3/11
'A budgetary deficit can be funded by the sale of Govt Bonds,in which case the Govt commits to pay interest to the
holders off those bonds and to repay the principal at future date.The purchasers of the bonds may be Australian or foreign, and only in the latter case does Govt have any relation to foreign debt(and in practice Corporate Debt),usually comprise most of foreign debt.
On one hand Govt debt like your personal debt can be good from the economic standpoint, if it facilitates expansion of capabilities and choices.
On the other hand ,Govt debt like personal debt can be bad if it creates a major burden of interest payments that reduces the amount of tax revenues that the Govt can spend on socially and ENVIRONMENTALLY friendly worthwhile projects.Such debt impedes economic development and increases economic dependency.
Federal debt is not a problem, however (and this is my point) what the debt is used for has to be kept under critical scrutiny."

Thus it still amazes me why Wayne Swan predicted surpluses swell in advance.I'll say it again whilst tax revenues come in based on forward estimates fine,.but if the GFC comes in again in bigger fashion and tax revenues drop substantially particularly when Corporate profits take a dive and unemployment up largely, you already have a big deficit then then Got has to stimulate the economy with further money via debt.
It's one hell of a balancing act, and it affects everyone .

What's all this Evatt stuff for.

Swan ultimately had no choice but to predict what the forward estimates tell him. They extend out to four years. He's bound by legislation as is every treasurer since the charter was passed.

 

[Kornstar]

Well mate you must be on $250k in 2025, so more power to you.

Labor pretty much matched the LNP tax except for "... Labor is planning to reintroduce the temporary deficit reduction levy, which increases the top tax rate for those earning above $180,000 by 2 percentage points." That's single income, not household income.

So effectively i am marked as rich (i don't earn 250k by the way)? My mortgage is still ridiculous (and i mean ridiculous and i don't live anywhere good), i have to travel far for work and i don't have the disposable income these idiots think i do, so please take it off me and give to people who have 3+ kids they can't actually afford and they will grow up to contribute the same shit to society their deadbeat parents did......a burden on the welfare system.......

Anyways, first world problems and all that.......i don't expect anyone to feel sorry for me doesn't mean i can't be pissed off.

 

[Kornstar]

The governments slated tax reductions for the kind of earnings you are talking in order to make that kind of saving on tax are not slated to be introduced into parliament until the parliament after next

That is to say they are two elections away at best. and conveniently as far as the current budget is concerned are outside of the forward estimates, which in layman's parlance means they have not been costed Nor have they been budgeted.

So yeah mate, you are missing something.

I understand they are just words, i am not that stupid however where the libs are trying not to put all the tax burden on an income group, Labor certainly are and that is my actual point.

Like i said though, none of the merkins will get my vote, but for me there are worse alternatives than the incumbents!