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General Discussion >> Federal Politics >> Family tax benefits to be means-tested http://www.ozpolitic.com/forum/YaBB.pl?num=1201168952 Message started by freediver on Jan 24th, 2008 at 8:02pm |
Title: Family tax benefits to be means-tested Post by freediver on Jan 24th, 2008 at 8:02pm
This is a good idea. It will help support the income tax cuts and help bring inflation under control. Rich people should not be getting welfare.
http://news.smh.com.au/family-tax-benefits-to-be-meanstested/20080124-1nyj.html All family tax benefit recipients could soon be means-tested as the federal government tries to bring inflation into line. The annual consumer price index rose 3.0 per cent in the year to December, while underlying inflation has accelerated to 3.6 per cent. The new Labor government has announced cuts to government spending to produce budget surpluses of 1.5 per cent of gross domestic product (GDP). |
Title: Re: Family tax benefits to be means-tested Post by deepthought on Jan 24th, 2008 at 8:11pm
Bang goes the egalitarianism the coalition fostered. It's back to the 'us and them' mentality of Liebor.
Woe is us. >:( |
Title: Re: Family tax benefits to be means-tested Post by sprintcyclist on Jan 24th, 2008 at 9:30pm
my family tax benefit is already means tested, I am sure.
ie, the amount I get varies according to my income. |
Title: Rudd promises to keep tax cuts Post by freediver on Jan 25th, 2008 at 2:05pm
http://news.smh.com.au/rudd-promises-to-keep-tax-cuts/20080125-1o2f.html
Prime Minister Kevin Rudd has promised to deliver his election promise of about $31 billion in tax cuts despite inflation being at decade-high levels. Mr Rudd said he took seriously his pre-election promises and the government's five-point plan would tackle inflation. "It would be wrong to walk away from those commitments and we also made sure our non-tax commitments were very modest, costing much less than that being put forward by the government at the time, the Liberals," he told the Nine Network. The prime minister said the government would take the pressure off the Reserve Bank to raise interest rates by targeting a budget surplus of $18 billion and establishing bodies such as Skills Australia and Infrastructure Australia. "I said throughout 2007 that I was not going to put myself in a position, like my predecessors, of delivering public lectures to the Reserve Bank," Mr Rudd said. |
Title: Re: Rudd promises to keep tax cuts Post by deepthought on Jan 29th, 2008 at 7:24pm freediver wrote on Jan 25th, 2008 at 2:05pm:
This is the tosser who declared inflation has been a problem since 2006. So why offer the inflation creating tax cuts? He lies. |
Title: Re: Family tax benefits to be means-tested Post by Aussie on Jan 29th, 2008 at 9:12pm Quote:
Dunno whether it is established that they are 'inflation creating?' But fact is, DT, if he did not, you and your ilk would be complaining about broken promises. |
Title: Re: Family tax benefits to be means-tested Post by freediver on Jan 29th, 2008 at 9:35pm
It is commonly accepted among economists that the tax cuts will create inflation - if they are not matched by spending cuts. Short term inflation is important at the moment, so it is important to reduce spending quickly otherwise he may exacerbate short term fluctuations in GDP (ie, boom-bust cycles). However we may be a recession by the time the effects kick in as it is hard to predict how long the current boom will last. Of course, it is better safe than sorry.
Obviously in the long term the tax cuts will have to be matched by spending cuts otherwise the government would have to print or borrow money or reverse the tax cuts. So in the long term, the tax cuts will lead to higher GDP. It's just the timing that is unfortunate, or probably will be. There are plenty of handouts Rudd could get rid of. I'd like to see the baby bonus and housing subsidy go. It was uncharacteristic of the coalition to introduce such handouts. |
Title: Re: Family tax benefits to be means-tested Post by deepthought on Jan 29th, 2008 at 10:45pm Aussie wrote on Jan 29th, 2008 at 9:12pm:
Even the loopy 'economists' agree with me that if you punch a lot of money ($31b) back into the hands of the mushrooms blindly stumbling into a Liebor led recession that there will be an inflationary effect on an economy driven by learner drivers. Given the right circumstances of growth matching the cash (neutral outcome) there wouldn't be much of an impact. But in a Liebor collapsed shrinking economy the effect will be substantial. And it will. This is another tactic to ensure we have a recession. Liebor love them because they drive inflation and interest rates down artificially at the expense of the plebs. They did it in the 80's/90's. But my ilk and I are not concerned with 'broken promises', we are concerned the promises were made at all. After all, Little Kevvy Liar has been crowing about inflation and pointing at everyone but him. He reckons that it has been escalating since 2006. Why then, in 2007, was he contributing to it by promising tax cuts at all? If he knew of the inflation as early as 2006 why exacerbate it the following year? Does he think we are as stupid as him? Does he think we will believe his lies if he says them often enough? He's a loser. That's why I voted Liberal. I don't enjoy recessions. |
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