Budget 2010 (1 Viewer)

[Lentern]

Noticed there was no thread on this, possibly because many of our political heavyweights (Iron, SP etc) Have moved on but I favour a different excuse. Nobody cares but I thought it might just deserve a thread given it deserves Kerry O'briens time slight on the ABC. So a few jottings loosely related to the budget:

-At the previous budget I hypothesized that the government had fore casted much higher levels of debt than was actually deemed necessary to stave off recession, the rationale being that they could then head into an election year proudly boasting that things are much better than everyone thought they'd be, aren't we fabulous. I maintain that expectation and note that most pundits seem to be anticipating something similar, although they seem to be saying the government genuinely overestimated the problem rather than inflated the figures for political use.

-Everyone will laud Tony Abbott's budget reply before doubting its ability to put the liberal party in a winning position.

-The mining tax will be forced through parliament. An all image man like Kevin Rudd won't let his image be that of an all image man that ducks for cover at the first sign of unpopularity, he's going to fight for this one because he "isn't concerned in the opinion polls, I am concerned with acting in the national interest."

-Well done Swanny, after Peter Costello kicked him all over the place in the 2007 campaign and then Turnbull as shadow treasurer did the same thing in 2008 he was was minister I was most expecting to get a demotion in this parliament. He's now handed down three budgets and served a full term as treasurer. His name is now in the rare company of George Turner, Earle Page, Richard Casey, Harold Holt, John Howard, Paul Keating and Peter Costello.

 

[Lolsmith]

I await the critique of the intelligent members of this forum on the new budget.

Lentern, do you think it will be helpful for Rudd's popularity?

 

[0bs3n3]

Delivering three budgets while your mate from high school holds your dick is hard?

EDIT: Hard is kinda innuendo there :/ I mean difficult...

 

[Lentern]

I await the critique of the intelligent members of this forum on the new budget.

Lentern, do you think it will be helpful for Rudd's popularity?

I think it should be. The opposition will still say that debt is too high but the reality is that it's a lot lower than anyone had really expected up until a month ago(if you don't count me) and debt really is the centerpiece of the oppositions economic campaign. However the government needs to have a real go at communicating with the electorate unlike the ETS where they just recited their lines. Lindsay Tanner, Tanya Plibersek and Craig Emerson will have a real go at explaining the policies and particular in Tanner's case thats very valuable but if Rudd, Swan and Gillard keep just reciting their lines it will fall flat.

 

[scuba_steve2121]

i really hope this time they spend 'smarter' not 'harder' XD

 

[b00m]

Indigenous Australians

- $38.5 million to tackle petrol sniffing

http://www.smh.com.au/business/federal-budget/winners-and-losers-20100511-uuky.html

 

[cosmo kramer]

Contractors are screwing us again. No way do a few bullets cost that much money.

 

[scuba_steve2121]

this budget has a lot of pros and cons given the situation

pros
rolling back spending - not spending as much as i thought they would as lentern said
raising tax bracket to give low income earners a break

cons

mining tax - come on Kevin mate

side notes

don't think the 2.2 billion increase is huge for health, its just adjusting for inflation

also i think their projections for surplus and unemployment rate are very very optimistic. not thinking about future market conditions once the stimulus spending stops.

 

[Lentern]

this budget has a lot of pros and cons given the situation

pros
rolling back spending - not spending as much as i thought they would as lentern said
raising tax bracket to give low income earners a break

cons

mining tax - come on Kevin mate

side notes

don't think the 2.2 billion increase is huge for health, its just adjusting for inflation

also i think their projections for surplus and unemployment rate are very very optimistic. not thinking about future market conditions once the stimulus spending stops.

Oh come on, I've been listening to different radio programs for the past hour and a half and heard atleast half a dozen economists more or less say that "obviously its a good thing surplus is so near by but really you'd have to be pretty hopeless not to return the budget to surplus by 2014.

 

[scuba_steve2121]

Oh come on, I've been listening to different radio programs for the past hour and a half and heard atleast half a dozen economists more or less say that "obviously its a good thing surplus is so near by but really you'd have to be pretty hopeless not to return the budget to surplus by 2014.

well as history has told us government is pretty hopeless XD

any money that they make will just be spent as soon as the market crashes later this year or early next year. the Eu just announced its 1 trillion dollar plan for Greece and Portugal and the like, who were doing nothing else but spending wildly? who is going to bail out the bailers?

 

[seremify007]

Why oh why must everyone want to change our company tax rate Up or down... it makes life difficult for accountants who can't count!

 

[scuba_steve2121]

Why oh why must everyone want to change our company tax rate Up or down... it makes life difficult for accountants who can't count!

how about we put tax at 0 for companies that would make your life so much easier?

 

[Lentern]

well as history has told us government is pretty hopeless XD

any money that they make will just be spent as soon as the market crashes later this year or early next year. the Eu just announced its 1 trillion dollar plan for Greece and Portugal and the like, who were doing nothing else but spending wildly? who is going to bail out the bailers?

Like our own government has done the European Union will withdraw spending and increase taxes incrementally when the economies begin recovering ultimately building a stronger foundation for growth than the markets which went into the 2008 crash. A flat lining economy, which is where these markets will lead if not assisted, will not produce capital, will not reduce debt and will not begin to show signs of recovery for decades.

 

[aussie-boy]

I reckon this is a great budget.

Best part is the new health database, meaning doctors will now have immediate access to patient medical histories from all interactions with all doctors (atm a history must be compiled on each new visit to hospital/a different doctor)

 

[iRuler]

Good budget imo, better than last year.

 

[seremify007]

how about we put tax at 0 for companies that would make your life so much easier?

I'd be happy with any of the easy numbers- 20%, 25%, 30%... see? I'm not that picky.