All mixed up in Australia!

April 28th, 2014 at 4:00 pm by David Farrar

The Age reports:

Labor has warned a “deficit levy” would define Tony Abbott as a Prime Minister if he pursued the new tax and  says the government was paying the price for the “deceitful, voodoo economics” of its election campaign.

Mr Abbott has not ruled out a short-term tax on high incomes to  reduce Australia’s deficit, as the opposition accused the the Coalition of preparing to break an election promise of no new taxes.

So is saying the Government should not increase taxes on high income earners, while the Coalition is considering doing just that.

On this issue, I am of course with Australian Labor. Labor may have left the Coalition a huge deficit, but they solution is not increasing taxes. It is restraining spending.

 

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13 Responses to “All mixed up in Australia!”

  1. deadrightkev (504 comments) says:

    I agree with you David.

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  2. kowtow (8,712 comments) says:

    It’s not about “restraining spending” either.

    It really must be about cutting and cutting deep.We have a standard of living that is unearned,sustained by massive borrowing ,debt.

    But no one has the balls for cuts,not here,not in Oz, not in broke Europe or the US.

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  3. Manolo (14,018 comments) says:

    A shocker from Abbott & co.

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  4. Rex Widerstrom (5,354 comments) says:

    It’s both David. There’s a vast churn of revenue back to high-earning taxpayers through non-means-tested benefits. That needs to be stopped (thus effectively increasing taxes) as well as what would more commonly be called “spending cuts”.

    The irony is, Australia wasn’t really living beyond its means, thanks to its fortuitous geology.

    There was plenty of money in the bank to carry it through the GFC and beyond without the need for harsh cuts. Then Rudd decided to give $900 to every beneficiary, then a further $900 to everyone with a pulse. And then Gillard spent the balance on building empty halls on virtually every school site in the country, with no expenditure control. Builders were submitting quotes at prices three times what they’d usually charge per square metre and hardly believing their luck when they were accepted without question.

    And what was left over was pumped into a Pink Batts program by Peter Garrett which killed, IIRC, four people before it was shut down as the poorly planned, completely unsupervised mess that it was.

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  5. dime (10,086 comments) says:

    fair enough! the tax rate is only 45% for high earners. they can afford more, that would be FAIR

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  6. Sir Cullen's Sidekick (894 comments) says:

    Rich prick tax is coming here once Labour-Greens-NZ First-Mana-Dotcom coalition sweeps the election in September 2014…..

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  7. wf (464 comments) says:

    You know, I think that if the govt presented a rudimentary budget with clear explanations, the general population would support a serious, but not too draconian, policy of debt reduction.

    In election year? Perhaps not.

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  8. tvb (4,487 comments) says:

    The Labour Party have left a huge spending problem. The oppose cutting spending, they oppose lifting taxes so what are they offering. Just carry on raking up debt.

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  9. Sir Cullen's Sidekick (894 comments) says:

    Ozies are happy to pay high taxes. Let them pay. 42% or 45% – won’t make any damn difference.

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  10. Fletch (6,479 comments) says:

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  11. greenjacket (481 comments) says:

    So Labor crashed the economy, left a ballooning deficit, and then criticise the coalition for trying to close the deficit. The sheer chutzpah from Labor is staggering.

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  12. igm (1,413 comments) says:

    Further highlights what Labour fiscal policies and envy do to economies . . . Imagine what failed entrepreneur Parker would do to our fragile economy!

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  13. burt (8,294 comments) says:

    Labor politicians looking out for themselves…. who’d have thunk it.

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