Budget Night 2012.

[weemadando]

http://www.abc.net.au/news/abcnews24/

^^^^^

That's a link for anyone who wants to watch it live - starting in about 8 mins.

[weemadando]

LET'S GET IT ON SWANNIE.

[weemadando]

Bacon Tax.

Fucking Bacon Tax.

[weemadando]

Interesting budget. Lots of spending on social programs and continuing promises on infrastructure.

But it's a very safe budget. Not going to lose them many votes, but not going to win many either.

[tim31]

Abbott gets his chance to try connect to disenfranchised 18-25 year olds this morning on Triple J.

Spends time talking about 'toxic Labour brand'

Get some policies happening dude, seriously.

[weemadando]

He doesn't need policy.

Apparently our nation is fucking dumb enough to buy into the "NOPE".

[mr friendly guy]

The whining, it has begun.

Budget 2012: Middle-of-the-road families miss out on tax benefits

IT'S being hailed as a "Robin Hood" Budget, stealing from the miners to give to low and middle-income families.
But don’t get too excited. If you earn a combined income of more than $115,000 you’re unlikely to see much benefit.
And if you’re a single person without children, the Budget offered you even less.

Wayne Swan's "battler" Budget took $5 billion intended for company tax cuts and diverted them to tax benefits for 1.5 million families.
But families with two kids under 12 can only earn a combined income of up to $112,000 in order to qualify for an extra $200 a year under the Family Tax Benefit Part A.
Steve Campbell and his wife Kim earn more than this, but still find themselves struggling some weeks.

“The ALP have carried on with headline grabbers and acting like Robin Hood when a large portion of the families doing it tough, get nothing due to means testing,” said Mr Campbell, who lives in Brisbane with his two children, Aly, 5, and Dex, 3.

“If you and your spouse are gainfully employed to provide and pay the bills you get nothing."
Mr Campbell and his wife want to buy their own home but are finding it practically impossible.

“We can make the repayments, but we cannot get the $25,000 deposit required to get into a modest family home,” he said.
“It's taken for granted that families at our level are on easy street. Far from it.”

From July 1 next year families with two kids under 12 will get an extra $600 if they earn less than $78,000, and this drops to $200 if their income is between $78,000 and $112,000.
Families with two teenage children must have a combined income of less than $115,000 in order to get a $200 boost, and will get an extra $600 if they earn less than $85,000.

And while the Budget offered plenty of goodies to families, young singles felt left out in the cold.

A single person earning $80,000 will only be better off by 6 cents a week.
Nina Dela Cruz, 34, works in media and sales and wasn’t overjoyed by yesterday’s Budget, which yet again gave nothing to single tax payers.
“How about the people who are making the economy work? We have to wait until we get old or are forced to have children to benefit from the Government’s tax breaks.”
“We are the people who are making the economy strive – and we get zero.”

Ms Dela Cruz said that she doesn’t fall into the $300,000 bracket, but she is a high income earner and still finds it extremely difficult to plan for the future.
“I pay huge taxes and still all I see is prices going up and I get little in the way of concessions.”

Budget calculator.

I am apparently $ 3 a year better off. Woo hooo.

Back to a more serious note, maybe I am just disconnected from reality being a single guy who works a lot of the time, but seriously. You struggle on a combined income of MORE THAN $112,000. Say what?

The other thing people just don't want to ignore, is that the economy isn't quite in the same shape as a few years ago. When I first graduated university and worked in 2004, Peter Costello continued to give us generous tax cuts. This continued when Rudd took office as he had to match the coalitions generous tax cuts. When the economic crisis hit, they gave us a stimulus package to boot. Come one people, quit your whining.

[Stark]

Middle of the road families are also struggling? Hmmm.

[weemadando]

That's positively glowing compared to The Australian.

http://www.thevine.com.au/life/news/let ... ustralian/

[bobalot]

During the 1990's. My entire family lived on an income of that was around 40-45k when my father had work. My father was often unemployed during the 90's recession.

We lived modestly and rented small apartments and saved for nearly a decade before we had enough to put down a deposit on a small 2 bedroom house. We did all this while helping out other relatives financially. This was not uncommon in the migrant and working class neighbourhoods we lived in.

We never considered ourselves struggling. We saw people around us that were actually fucking struggling. They are still around, they just don't interest newspapers or other media with their stories. Whining dipshits who can't manage their finances on $110k+ combined incomes make better stories for some reason.

[bobalot]

It's amazing.

In Murdoch paperland,

“Class warfare” is defined as:
* Cutting or failing to maintain subsidies for private schools or private school fees
* Cutting or failing to maintain subsidies for private health fund premiums
* Cutting or failing to maintain any tax break for business
* Cutting or failing to maintain any tax break for individuals on $150,000 or over
* Suggesting that anyone on more than $150,000 can look after themselves without rebates or subsidies
* Anything that adversely affects the commercial or political interests of New Limited, it subsidiaries or friends
* Any action or statement disapproved of by News Limited
* Anything else that News Limited says is class warfare

(I found this summary on Crikey. It's an attempt an humour but actually sadly accurate).

[Alkaloid]

This isn't intended as a defence of the Government's Budget (I'm not enthused) or some partisan shot across the bows of the Liberal Party or even a real engagement with the content of the paper itself, but rather to suggest that if anyone involved in the production of this front cover looked at it and thought "You know what? This is exactly what a newspaper is meant to be" then they have no business using the title journalist

That is the best part of this article and encapsulates exactly why the Aus is so fucking awful. It has money and circulation, it could actually be a newspaper, and instead has hired so many people that are either incompetents that are entirely unable to distinguish any actual facts about economics, systems of government and totalitarianism of all stripes and thus assume anyone that mentions the word tax without spitting is a Stalinist, or actively searches for people with an astounding lack of journalistic ethics and would cheer the country on as it burned itself alive on the fires they lit provided it made a good story.

[mr friendly guy]

I read somewhere (but I can no longer find the link) that the government is cutting some medicare funding to "alternative health treatments" which haven't had any proven clinical benefits. Good. Now if only they scrapped the baby bonus as well.

[mr friendly guy]

sometimes the comedy just writes itself The comments are hilarious.

Without question the worst government Australia has ever been subjected to. Dear Julia, please put aside your desire for political power and take this country to the polls so we can get out of this terrible mess you and your idiot government have gotten us into.

Well I would have thought Menzies oooh so awesome involvement with us in America's military misadventures might have counted for something. Plus we still lost in Vietnam anyway. Um sorry, I mean the Americans didn't retreat, they just advanced to the rear.

Or maybe Whitlam's deadlocking of parliament and refusal to call a double dissolution which prompted the dismissal. Plus I hear the economy was bad then too.

Somehow i dont think you can buy yourselves this election like the previous. Hey the economy is struggling, lets introduce a heap of measures to strain those that are keeping it alive and help those who dont contribute....

I am sure those billionaire miners are now struggling to make ends meat. Hey I hear China is still expecting 8% growth. So the miners are really going to struggle when our top trading partner (yes people, its China, not Japan, not the US, its the PRC) is still expecting generous growth.

The funny thing is, when the stimulus package helped the economy, people said it wasn't the ALP that did it, it was China.

More welfare? Since when did we sart living in a communist society? Where's the incentive to work harder and smarter? A little more of this wealth redistribution and we might as well all quit our jobs and join the dole queues..

Welfare = communism now is it? But go ahead, quit your job and get the awesome $486.80 a fortnight that is the dole. I am sure going to quit my $4500 - $6000 + each fortnight job for the much higher total of $486.80 a fortnight. What a goddamn whiner.

What a joke. Call an election before Australia ends up a 3rd world country?

I hear if we join the Communist bloc we can become a 2nd world country instead. How does that sound.

Geez, does this even deserve a serious response?

Seems like a good idea to cut funding to defence, especially since the world is so stable at this point in time. Surely we can just rely on America... However, their economy is shot, and they won't be able to fund, let alone justify a war on our behalf. We need to be self-sufficient to face the growing unease that is spreading globally. Sorry if this sounds gloomy, but we need a strong defence force to protect our selves and our assets.

Methinks someone has been jerking off to "When the war began" series of books.

In a world where north Korea is testing intercontinental rockets, terrorism is flourishing in south east Asia, and china is growing its military capability, is it wise to take 5 billion off of an already under resourced and I'll equipped Defence force? Sounds silly to me!

Ah, the yellow menace is alive and well it seems.

[Stark]

The private health thing is hilarious. Not filthy rich and making over $150,000? Doesn't affect you.

AUSSIE BATTLERS.

[weemadando]

Paying ~160pf for Private Health is aggravating, but it's by no means "crippling". And that's the highest level of hospital and extras coverage.

[JointStrikeFighter]

Even the $50 a fortnight cheap ass Singles private health is amazingly good.

[Korto]

I read somewhere (but I can no longer find the link) that the government is cutting some medicare funding to "alternative health treatments" which haven't had any proven clinical benefits. Good. Now if only they scrapped the baby bonus as well.

Funny thing is, if you go to your Budget Calculator link, scroll down a bit (go on, bit more, bit more...), there it is! At "If you love natural therapies..."

The government will crack down on taxpayers' funds being used to subsidise ''natural therapy'' services which do not present clear evidence they are clinically effective.

Services that are will be ineligible for the health insurance rebate include naturopathy, aromatherapy, ear candling, crystal therapy, flower essences, homeopathy, iridology, kinesiology, reiki and rolfing.

(Personal story, a girl my wife once knew once tried to kill her with Reiki. My wife (before we were together) was having an asthma attack, and this idiot friend convinced her to let her use reiki to fix it. So, the attack's getting worse and worse, my wife's panicking, and you've got this idiot blaming my wife for it not working because she's putting out "bad vibes". Finally, an ambulance was called. So I'm not exactly broken-hearted about the lost funding).

Dickheads whining about how easy it is on the dole, and how much money they get, should really give it a try. Been there, done that, still have the facial tics.
Actually, it's easy enough. As long as you rent a dump that should really be condemned, live on water and no-name food, and give up on any thought of a social life or buying anything new. Of course, any desire for nights out, or love of clothes, paintball, mobile phone ring tones, etc, will see you in trouble.
Oh, and don't forget as soon as you pay your vehicle rego, to start saving for your vehicle rego.

You know, with an (after tax) annual income of around $24k, for two adults and two kids, I find it hard to summon up sympathy for anyone who whinges they can't survive of $112k, and since we managed to save up a deposit and buy a house on <20k, I've got to wonder exactly what are these people's requirements. Yes, my house is a dump, and as soon as we pay it off and save up some more money I'm going to run a fucking bulldozer through the place, but it's still a roof. They remind me of the cliche of a girl who can't find a boyfriend, and it turns out they're looking for someone over 6 foot, funny, intelligent, charming, good job with a lot of money and lots of recreational time, strong and commanding and gentle and empathetic, lots of sexual chemistry, good with their hands, well-read and active.

On the defense front, Brian Toohey from The Australian FInancial Review, has a few things to say:

The decision (to cut defense budget) comes against a backdrop in which the careful assessment of the government's defense planners is that there is no threat to Australia in the forseeable future - nor could any emerge without several years' warning.

The savings will come from defering projects, mostly for a year, and by genuine efficiency measures

Swan will cut civilian numbers in defense by 1000. There is no excuse for not cutting more than the 5000 increase since 2000-01. Given the poor record of the Defense Materiel Organisation, outsourcing much of its work would also produce serious savings

Toohey also says there is talk of cancelling Rudd's 12 bespoke submarines (cost $40billion), and considering other options, such as off-th-shelf high-quality European subs. This would also mean we'll no longer need to keep the Collins class going (at fair expense) until the bespoke subs are ready (after 2030).
Personal opinion, while it's only talk at this point, look for it pulled out of the hat to get the surplus promised next year, while still giving sweeteners to the voters.

[Alkaloid]

Toohey also says there is talk of cancelling Rudd's 12 bespoke submarines (cost $40billion), and considering other options, such as off-th-shelf high-quality European subs. This would also mean we'll no longer need to keep the Collins class going (at fair expense) until the bespoke subs are ready (after 2030).
Personal opinion, while it's only talk at this point, look for it pulled out of the hat to get the surplus promised next year, while still giving sweeteners to the voters.

That is veeeeery unlikely. We aren't likely to end up with 12, and never really were. The Navy likes 8, I would be unsurprised if we end up with 6, but regardless MOTS Euro subs simply will not work for Australia, and anyone telling you different is dreaming. There really is no one building anything currently that will actually do what the Navy wants these subs to do, and if I recall there was another 120 mil in this budget thrown into the project anyway.

Also, I love the coalition. Yes, we will scrap the mining tax. Yes, we will still give you the 2.9 billion in welfare payments it was going to pay for. STOP BRIBING VOTERS! SOUND FISCAL MANAGEMENT!

[mr friendly guy]

Funny thing is, if you go to your Budget Calculator link, scroll down a bit (go on, bit more, bit more...), there it is! At "If you love natural therapies...

Thanks.

You know, with an (after tax) annual income of around $24k, for two adults and two kids, I find it hard to summon up sympathy for anyone who whinges they can't survive of $112k, and since we managed to save up a deposit and buy a house on <20k, I've got to wonder exactly what are these people's requirements. Yes, my house is a dump, and as soon as we pay it off and save up some more money I'm going to run a fucking bulldozer through the place, but it's still a roof. They remind me of the cliche of a girl who can't find a boyfriend, and it turns out they're looking for someone over 6 foot, funny, intelligent, charming, good job with a lot of money and lots of recreational time, strong and commanding and gentle and empathetic, lots of sexual chemistry, good with their hands, well-read and active.

According to the ATO website an individual earning $112000 pays $31,190 in tax for the 2010-11 financial year. That includes medicare levy and surcharge. So they still get $80,000 post tax. If its two people earning a combine $112,000 then the tax will be even less due to the progressive nature of our taxation laws, such that income splitting saves money.

[Xon]

Amusingly, the contract termination fees for the NBN have ratched up to $1.8 billion and it's probably going to get higher before the next election.

[weemadando]

If Mr Rabbit gets power and kills the NBN mid rollout, then he will have been responsible for destroying many of Australia's economic opportunities heading into the latter half of the 21st century.

Our best hope is that he get's in and then pulls an every politician does it move and quickly reverses his policy on it because, fuck it, he's in power now.

[tim31]

That last line is very telling in light of Michael Kroger's fallout with Costello. It comes across like this:

Kroger: Can you please, please let up on Abbott? He's just playing dumb on economics

Costello: Are you fucking serious?

[mr friendly guy]

http://www.news.com.au/money/federal-bu ... 6355769313

WAYNE Swan's Budget, which delivered generous handouts to lower-income households, has given the Gillard government a timely boost in the polls.
The latest Newspoll in The Australian shows Labor gained three points to push its support among voters back to 30 per cent for the first time in two months.
The coalition's primary vote, on the other hand, slumped six percentage points to 45 per cent.

In the two-party preferred vote, the Tony Abbott-led coalition still holds a comfortable 55-45 point lead.
The poll showed that while the Budget was well received by families earning less than $90,000 a year, more people believe they will be worse off.
After last Tuesday's Budget, 41 per cent said they would be worse off, while 18 per cent thought they would be better off.

Those surveyed were split evenly when asked if the budget would be good or bad for the economy, with 37 per cent for each option.
The poll results come as a separate study that found 58 per cent of Australians feel personally affected by the global downturn was released.
Labor announced in the Budget that families receiving Family Tax Benefit A would receive up to $300 extra a year per child from mid-2013. Parents with two or more kids could get up to $600.

That's on top of carbon tax compensation announced last year of up to $110 per child. Those getting Family Tax Benefit B could be $69 a year better off.
The satisfaction vote for Julia Gillard and Mr Abbott remained almost unchanged with 27 per cent satisfied with the prime minister's performance and 34 per cent satisfied with the Opposition Leader's.
As to who would make the better prime minister, Ms Gillard's vote was unchanged at 36 per cent while Mr Abbott's vote eased one point to 40 per cent.

The linked to this article said "we bought it" ie we believed the budget. Says it all really.

[thejester]

Best reaction remains Greg Sheridan flipping his shit over the defence 'cuts'. You'd think after Manne took him to task at the end of last year he'd have learnt his lesson, but apparently not.