The Budget

[blueboy25]

The tax cuts arent a big deal financially in the big picture. On their own they are more politics than financial.

How would you start the Sovereign Fund & dont say do what Norway has done.

You could tax the Resource sector and banking sectors more but the LNP, Murdoch and Channel Costello will run another almighty scare campaign so it will never happen.

 

[Cap]

You could tax the Resource sector and banking sectors more but the LNP, Murdoch and Channel Costello will run another almighty scare campaign so it will never happen.

We actually need decent truth in political advertising laws.

 

[Donakebab]

The government has been increasing the cost for years with seemingly little effectiveness. Can you explain why they would ban vapes other than the fact they are losing out on revenue. The only way you will get people to stop is to outlaw it or ban smoking in all public areas.
Increasing the cost is just a net negative to society.

What do you mean seemingly little effectiveness? Smoking rates continue to decline year on year from above 35% in 1980 to around 12% today. There are recent studies that show cost has overtaken health as the biggest motivator for people cutting down or quitting smoking.

 

[nut]

What do you mean seemingly little effectiveness? Smoking rates continue to decline year on year from above 35% in 1980 to around 12% today. There are recent studies that show cost has overtaken health as the biggest motivator for people cutting down or quitting smoking.

Like I said we need to increase spending on education. Especially in maths.

 

[NonPhixion]

Like I said we need to increase spending on education. Especially in maths.

Still waiting for an explanation as to why they want to ban vapes other than because they are losing out on tobacco revenue.
And to the other poster, sure, but how much more would smoking decrease If a public ban was put in place.
There is an opportunity cost that arises from encouraging people to quit by increasing its price and that is an increase in crime.
I'm glad you are taking the time to get personal, I don't remember ever saying anything to belittle you, just adding to the discussion with a differing opinion. Let's wait for the statistics on tobacco related crime over the next 3 years, I guarantee it will increase and if it doesn't I'll eat my words.

 

[Kwality]

You could tax the Resource sector and banking sectors more but the LNP, Murdoch and Channel Costello will run another almighty scare campaign so it will never happen.

As we seek to borrow money from Japan after increasing coal royalties.

 

[nut]

Still waiting for an explanation as to why they want to ban vapes other than because they are losing out on tobacco revenue.
And to the other poster, sure, but how much more would smoking decrease If a public ban was put in place.
There is an opportunity cost that arises from encouraging people to quit by increasing its price and that is an increase in crime.
I'm glad you are taking the time to get personal, I don't remember ever saying anything to belittle you, just adding to the discussion with a differing opinion. Let's wait for the statistics on tobacco related crime over the next 3 years, I guarantee it will increase and if it doesn't I'll eat my words.

Sorry if I offended but I’m not interested in arguing about the effects of increasing the cost of smoking, and vapes are causing more health issue also.

 

[Jascave]

Interesting to see how Opposition Leader Peter Dutton will respond to the Budget in his reply speech tomorrow night. If Dutton's reply speech goes down like a lead balloon with the electorate, it won't be all that long before we see a leadership spill against Dutton within the next few months.

 

[nut]

Interesting to see how Opposition Leader Peter Dutton will respond to the Budget in his reply speech tomorrow night. If Dutton's reply speech goes down like a lead balloon with the electorate, it won't be all that long before we see a leadership spill against Dutton within the next few months.

It’ll be full of slogans ….

“Every dollar labor spends will drive up inflation”

“Labor broke its promise by not lowering power prices!!!”

 

[Jascave]

It’ll be full of slogans ….

“Every dollar labor spends will drive up inflation”

“Labor broke its promise by not lowering power prices!!!”

I reckon Josh Frydenberg is jealous of the fact that he came within a whisker of producing a surplus, only to see the COVID-19 pandemic intervene, 6 lockdowns in his home state of Victoria, he loses his seat to Monique Ryan, and to make matters worse, watch his successor Jim Chalmers produce a surplus (albeit a small one) in only his second budget as Treasurer.

 

[Sydney Kicker]

60billion deleted from revenue, whilst expenditure increases isn’t a big deal…???? Please explain.

Tax the crap out of the resource sector over an agreed price… a profit tax, and bank it, and allow it to grow.

Blame the dumb Australian voters (and partly the effective mining lobbyists) for this one not getting any legs. It's a national disgrace the return we get from our resources and it's Joe Publics fault for falling for scare campaigns.

 

[nut]

Blame the dumb Australian voters (and partly the effective mining lobbyists) for this one not getting any legs. It's a national disgrace the return we get from our resources and it's Joe Publics fault for falling for scare campaigns.

I blame the corporate owned media ….

 

[CD Xbow]

The Guardian has an interesting article about the budget.

Instead of winning plaudits, why did Jim Chalmers’ budget surplus leave pundits nonplussed? | Greg Jericho

There’s a glorious irony that a surplus, after so many deficits, attracted such little attention

www.theguardian.com

I read it then imagined the orgasmic praise The Australian and the rest of Spew Corp would be heaping on the Treasurer if he was a lib.

 

[Blue Arrow]

Thank god for the stuff we dig out of the ground.

When even poor money managers like Labor can deliver a surplus on the back of exports it shows how dependent we are on mining.

 

[Gough]

Matt Canavan is a Saints fan. Makes sense really, he only ever backs losers.

 

[schneebly111]

Thank god for the stuff we dig out of the ground.

When even poor money managers like Labor can deliver a surplus on the back of exports it shows how dependent we are on mining.

Actually budget surplus was due low unemployment, more income tax revenue, more sales tax revenue as a result of inflation and less unemployment welfare spending. Added to no unnecessary corporate welfare to Hillsong and Harvey Norman.

Any boost from exports came because the ALP can negotiate diplomatically with our largest trading partner and start to restore proper relations with them. Not threaten to go to war with them.

Btw the “best economic manager” propaganda label has been forever taken away from the Liberals after this budget. It was never borne out in reality anyway

 

[peetoo]

Thank god for the stuff we dig out of the ground.

When even poor money managers like Labor can deliver a surplus on the back of exports it shows how dependent we are on mining.

Over the years labor has tried to diversify the economy…then coalition comes in and says ‘none of that fancy schmancy stuff’. Red lines everywhere

 

[Crankyhawk]

The tax cuts arent a big deal financially in the big picture. On their own they are more politics than financial.

How would you start the Sovereign Fund & dont say do what Norway has done.

They are certainly bigger than the cost of living measures that Angus Taylor claims “inflationary” (ignoring that what low income people buy - cheap food, rental and power/ other utilities) aren’t so demand sensitive for price (or in the case of rental are already competing against higher incomes) while stage 3 going predominantly to high incomes will drive up prices

 

[Crankyhawk]

The government has been increasing the cost for years with seemingly little effectiveness. Can you explain why they would ban vapes other than the fact they are losing out on revenue. The only way you will get people to stop is to outlaw it or ban smoking in all public areas.
Increasing the cost is just a net negative to society.

How is it a negative to society? Sure it’s a negative to the smokers/ vapers but well stiff shit really.

 

[Crankyhawk]

Still waiting for an explanation as to why they want to ban vapes other than because they are losing out on tobacco revenue.
And to the other poster, sure, but how much more would smoking decrease If a public ban was put in place.
There is an opportunity cost that arises from encouraging people to quit by increasing its price and that is an increase in crime.
I'm glad you are taking the time to get personal, I don't remember ever saying anything to belittle you, just adding to the discussion with a differing opinion. Let's wait for the statistics on tobacco related crime over the next 3 years, I guarantee it will increase and if it doesn't I'll eat my words.

They don’t have statistics for tobacco specific crime (would be more as part of general poverty related crime - like a patient we had who walked out of ED and returned with various groceries he 5 finger discounted from the nearby shops)
Unless they specifically stole cigarettes… could measure that.
Vapes - unknown passive inhalation risks i suppose, the exhaled smoke just looks like smoke, and the initial justification for vapes was as a smoking quit device which it isn’t being used as.

 

[Kwality]

They are certainly bigger than the cost of living measures that Angus Taylor claims “inflationary” (ignoring that what low income people buy - cheap food, rental and power/ other utilities) aren’t so demand sensitive for price (or in the case of rental are already competing against higher incomes) while stage 3 going predominantly to high incomes will drive up prices

Drive up prices &/or inflation ?

Living with inflation is chasing your tail & the longer it goes the more frustrating it is.

 

[Kwality]

Over the years labor has tried to diversify the economy…then coalition comes in and says ‘none of that fancy schmancy stuff’. Red lines everywhere

No examples ?

 

[Crankyhawk]

Drive up prices &/or inflation ?

Living with inflation is chasing your tail & the longer it goes the more frustrating it is.

more money in the pockets of people who have choices about what to spend on will increase prices and therefore be inflationary.

I am unsure what distinction you are trying to draw here

 

[Kwality]

more money in the pockets of people who have choices about what to spend on will increase prices and therefore be inflationary.

I am unsure what distinction you are trying to draw here

goes back to the political decision not to honour the election promise on stage 3 tax cuts & Angus Taylor.

 

[Crankyhawk]

goes back to the political decision not to honour the election promise on stage 3 tax cuts & Angus Taylor.

Hmm?

I said Taylor is being a dickhead and economically illiterate for claiming that the cost of living package is inflationary
I am calling the whole bunch of politicians (and the high paid media types as well) for being silent on the much more inflationary stage 3 tax cuts because the campaigners are benefiting

I will make exceptions for those who come out directly to say these should be reconsidered. I believe that list includes Archer and a couple of ALP back benchers (not the ALP backbencher who is in my seat, I have had crickets from him after I sent my email)