How uselessly pathetic was that budget?

[lizzie]

There's really nothing more to say than the title ... a few alms to the poor ... more alms to those who don't need it but are the majority voters (middle income welfare) ... pilfer a few pence off business ... stab defence and overseas aid ...

Did I miss something - or did I just fall asleep?

 

[Ausprop]

There's really nothing more to say than the title ... a few alms to the poor ... more alms to those who don't need it but are the majority voters (middle income welfare) ... pilfer a few pence off business ... stab defence and overseas aid ...

Did I miss something - or did I just fall asleep?

according to a calculator I am 6 cents a week better off, so I am excited

 

[evand]

Its sad Lizzie, that you say that just because its a Labor budget. It could have been the best budget of all time and you still would have said its 'uselessly pathetic'. I think a lot of posts on here are going the same way.

Some people just have to get their negative whinge in for the day.

In your opinion, what would have made it a good budget?

 

[lizzie]

I am assuming - as we don't get (and won't get) anything from the government at all we will be the same ... until carbon tax hits.

Evand ... Did I say anything about it being a Labor budget?

I don't care who's budget it was - it was just a tinkering at the edges/paying a little "bribe" here and there/no forward moving substance/no economy strengthening budget that did nothing.

What is this "if there is any criticism" one must therefore be anti-Labor?

 

[boomtown]

I think it's fair to say most voters are waiting with their baseball bats to get this mob out. Nothing else matters.

 

[hobo-jo]

There was nothing that stood out for me that indicated poor fiscal management, infact I am in favour of some of the areas they cut (such as defence). However in my opinion their expectations for growth are too optimistic.

Budgeting a surplus, that's one thing, achieving it... let's review how Labor did in 18 months (if they are still in office ).

 

[Sunfish]

I am assuming - as we don't get (and won't get) anything from the government at all we will be the same ... until carbon tax hits.

Evand ... Did I say anything about it being a Labor budget?

I don't care who's budget it was - it was just a tinkering at the edges/paying a little "bribe" here and there/no forward moving substance/no economy strengthening budget that did nothing.

What is this "if there is any criticism" one must therefore be anti-Labor?

Your criticism is justified Lizzie. It was very much as you say: All about dividing the pie but no infrastructure spend to help grow the pie.

Queensland got none of the mining tax back for infrastructure, as promised. I can't imagine WA did any better.

Never mind Evan, you'll have your chance to whinge after the next election. I am sure you will do so.

 

[Belbo]

Yes and no.

It's an important budget because it economically commits to a surplus in low tax-take times.

It's an umimportant budget because this government is politically too weak to stick to it.

 

[cimbom]

We're 50 cents better off per week. Exciting times ahead

 

[Tony3008]

There was nothing that stood out for me that indicated poor fiscal management, infact I am in favour of some of the areas they cut (such as defence). However in my opinion their expectations for growth are too optimistic.

Budgeting a surplus, that's one thing, achieving it... let's review how Labor did in 18 months (if they are still in office ).

The one thing they cannot manage or predict is the exchange rate - they're at the mercy of the market and this has a mega effect on the economy ... and me.

The Carbon Tax will probably affect me by a few hundred dollars at most. A 1% cut in interest rates would leave me $1500 a year better off. My micro-business sells back to the UK - when I moved here in 2008 each pound translated to A$2.30; it's been down to $1.46, now testing $1.60. Each 1% exchange rate movement = +/- hundreds of dollars on the bottom line with consequent change in tax revenue - 10% improvement in three months after a 36% drop helps but only a little. I'd love to be in the position of paying a lot more tax - it would mean a lot more (in A$) was coming in.

 

[Crabnet]

With falling State and Federal Government revenues and a political need to conjure up a "surplus" what else could we expect? Glad it wasn't a draconian "horror budget". Imagine what that would have done to public sentiment.
Hopefully the cash splash along with the RBA interest rate reduction will help support our economy through a continuing difficult period.
Now if they could just get the dollar down to give relief to those of us who are adversely impacted by the exchange rate.

 

[Ausprop]

Now if they could just get the dollar down to give relief to those of us who are adversely impacted by the exchange rate.

and reuce everyones living standards? sounds nuts. I'd rather we help get it back up to give relief to those of us who are adversely impacted by the exchange rate.


fiscal restraint in a period of poor sentiment and now relying on the RBA to try stimulate things just so we can have a warm fuzzy feel at night. And it's an objectiuve across the political spectrum so we are stuffed

 

[boomtown]

PS those of saying you are 50 cents ahead better check how your rebate for holding private medical insurance against the Medicare levy is being savaged.

That's a 1 percent stealth tax increase for large numbers of us.

 

[Aaron_C]

PS those of saying you are 50 cents ahead better check how your rebate for holding private medical insurance against the Medicare levy is being savaged.

That's a 1 percent stealth tax increase for large numbers of us.

Good thing that I can adjust how much my own salary is.

 

[devo76]

I am living comfortably but far from wealthy. I do not want hand outs. I do not want one off cash grabs here and there.
I want better roads. I want infrastructure that improves for the future and provides jobs. Dams,bridges,rail,services. I hate with a passion these cash handouts that end up at Harvey Norman or the local pub.Its a vote grab and most likely a cash bonus for short lived items.

oh and im 3 cents better off by the online calculator.
I will happily hand back my 3 cents if they fix the pothole on the way to work !!!!

 

[HotRod]

This budget will do more damage than good.

It is now trying to plug the $43B spent during the GFC by cutting back on spending. Throw in some sugar coated candy for the unwashed masses.

Labor should have bitten the bullet and committed to another defecit budget and slowly claw back the $43B, not all in one hit. It is just pig-headedness that they wanted to deliver the first Labor surplus in ages just to prove to godknows thatthey are fiscally responsible. But the opposite has occurred.

But for heaven's sake, look behind the budget. Last year's forecast a $22B deficit but ended up being $44B. We are currently in the red to the tun of $150B and it will grow again this year probably to the tune of another $10B as the surplus just won't be delivered.

Now, I seem to contradict myself, but it is important to both reduce the national debt at the same time as gradally bring the budget into the black, not a whopping reduction in spending in one year.

I think Australia might just end up having a recession after all.

 

[CHam]

What really gets me is Wayne Swan sprouting yesterday about how well this Government has done because interest rates are now at 3.75%, but under the previous Government were at 6.50%!

The only reason that interest rates are so low is because the economy is in the toilet and technically most states on the Eastern Seaboard are in recession. The RBA has to do something to try and stimulate spending and reverse negative consumer sentiment that this Government has created through their hair brained policies, lies and backflips which have resulted in a dramatic increased cost of living.

The majority of businesses (large and small) I am talking to are making staff redundant and struggling to make a profit, and in the short term I can only see it getting worse.

How on earth can the Government try and make this out as a positive????

 

[boomtown]

I really don't have a handle on this yet.

In income taxes, the tax-free threshold jumps from $6,000 to $18,200, but after that the next $18,800 is taxed at 19 per cent (previously 15 per cent), and between $37,000 and $80,000 the tax take rises from 30 to 32.5 per cent.

It may turn out to all wash out but I am deeply suspicious.

Source http://www.businessspectator.com.au...tent=38802&utm_campaign=kgb&modapt=commentary

 

[Rolf Latham]

I hate with a passion these cash handouts that end up at Harvey Norman or the local pub.Its a vote grab and most likely a cash bonus for short lived items.

At least one of the licensed brothels here on the coast was quoted as saying their highest volume of clientele was during the 900 hand out days ...............


ta
rolf

 

[CHam]

At least one of the licensed brothels here on the coast was quoted as saying their highest volume of clientele was during the 900 hand out days ...............


ta
rolf

They are essential services for some....

Rolf you seem to be quite informed with the comings and goings of the local brothels. Something that you need to divulge?