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$34 billion in tax cuts (Read 3283 times)
IQSRLOW
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$34 billion in tax cuts
Oct 15th, 2007 at 4:19pm
 
http://www.theage.com.au/news/federalelection2007news/the-team-announces-tax-cuts/2007/10/15/1192300663972.html

Prime Minister John Howard and Treasurer Peter Costello have made their first election campaign outing as "The Team" with a dramatic announcement of tax cuts worth $34 billion over five years.

They chose the first day of the election campaign to release early the mid-year budget review and said the money to cover the cuts would come from significantly improved growth forecasts and employment growth.

The cuts would leave enough in the kitty for a healthy budget surplus, Mr Costello said.

He said the tax cuts would deliver a cut of around $20 per week to a person earning the average weekly wage July 1 next year. That would rise to around $35 per week from July 1, 2010.

For a family with the main breadwinner on average weekly earnings, and the second income earner in part-time work earning 40 per cent of average earnings, the tax cut would be around $30 a week rising to $50 a week in 2010.

From July 1 2008, the effective tax free threshold will rise from $11,000 to $14,000.

The 30 per cent threshold will increase from $30,001 to $34,001; and the 40 per cent threshold will increase to $80,001 and the 45 per cent threshold will increase to $180,001, as announced in the 2007-08 Budget.

From 1 July 2009 the effective tax free threshold for low income earners rises to 15,000 and the 30 per cent threshold to $35,001.

From 1 July 2010 the 30 per cent threshold will increase to $37,001.
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oceanz
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Re: $34 billion in tax cuts
Reply #1 - Oct 15th, 2007 at 4:25pm
 
The more things change, the more they stay the same.

Howard spending his way out of trouble again.

Ill be very interested to see the next lot of poll results. Roll Eyes


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freediver
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Re: $34 billion in tax cuts
Reply #2 - Oct 15th, 2007 at 4:26pm
 
Great news. Finally they have stopped the competition to see who can waste the most taxpayer's money.

This isn't 'spending' Oceans. It is saving taxpayer's money.
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oceanz
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Re: $34 billion in tax cuts
Reply #3 - Oct 15th, 2007 at 4:31pm
 
freediver wrote on Oct 15th, 2007 at 4:26pm:
Great news. Finally they have stopped the competition to see who can waste the most taxpayer's money.

This isn't 'spending' Oceans. It is saving taxpayer's money.

 

Doesnt it kind of mean the same thing? And if its not spending and the Government has the power to "save" the taxpayer money -why dont they do it much more often?
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IQSRLOW
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Re: $34 billion in tax cuts
Reply #4 - Oct 15th, 2007 at 4:38pm
 
Probably because of the same reasons that the WA state Labor govt have been withholding tax relief from average West Aussies for the last 3 years...to try and make themselves look better while knowing that voters have short term selective memories

The WA Labor govt still hasn't got rid of all the excess taxes that should have been abolished with the introduction of GST
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freediver
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Re: $34 billion in tax cuts
Reply #5 - Oct 15th, 2007 at 4:39pm
 
Doesnt it kind of mean the same thing?

Two key differences: taking the money first then giving it back wastes a lot of it on bureacracy, plus taking it from those who earn it and giving it back based on some other criterion removes a lot of the incentive to work.

And if its not spending and the Government has the power to "save" the taxpayer money -why dont they do it much more often?

No idea. Different societies tend to focus on the taking vs the giving to very different degrees. For example, Americans focus more on taxes at election time, so they have far lower taxes and fewer government services. Scandinavian countries are at the opposite 'extreme'. I think Australia leans a bit too far towards high taxes.
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Re: $34 billion in tax cuts
Reply #6 - Oct 15th, 2007 at 6:58pm
 
Too little too late.

Howard has had 11 years to implement tax changes and has merely tinkered. He waits until he is well in the proverbial and plucks this lot out. Just watch how many ignorant voters who cant see past their next paypacket lap up this crap

My question to the desperate little old $hit is-- Is this a core or non-core promise? and did Janet sanction it?
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Re: $34 billion in tax cuts
Reply #7 - Oct 16th, 2007 at 8:09pm
 
Termite wrote on Oct 15th, 2007 at 6:58pm:
Howard has had 11 years to implement tax changes and has merely tinkered. He waits until he is well in the proverbial and plucks this lot out. Just watch how many ignorant voters who cant see past their next paypacket lap up this crap



I think you'll find that the Libs has implemented 8 tax cuts in the last 5 years. So, it's not like the Liberal govt haven't been doing anything with this regards. And sure, some people will be swayed by their hip pockets and good for them. They probably need the money in these tough time - I believe the contrary to the Lib (and ALP, lol) slogan - "Australian workers never had it so good." Luckily, I earn enough to get by with spare change so I am not swayed by that particular policy and it frees me up to consider their other policies like the environment, education, hospitals, and the social ambiance and environment the Libs are creating in our homeland.

Quote:
My question to the desperate little old $hit is-- Is this a core or non-core promise? and did Janet sanction it?



I think JWH has learnt from his mistake there. Besides, can you imagine the backlash he'll get if he doesn't? Promising tax cuts and then saying no afterwards. This is core policy. On the surface, it is a good policy. However, within the total package of Liberal policies overall it doesn't sway me.

Cheers!
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freediver
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Re: $34 billion in tax cuts
Reply #8 - Oct 16th, 2007 at 8:15pm
 
I think you'll find that the Libs has implemented 8 tax cuts in the last 5 years.

Only cuts in the nominal sense. In reality most of them did not even make up for bracket creep. As part of this reform they should go back to pegging cutoffs to the CPI. Right now they are the highest taxing government (as a % of GDP) in our nhistory.

They should also legislate to give the states a fixed portion of income tax and GST revenue directly (rather than at the discretion of the federal government). Many federations do this. It's better than the land taxes etc the state governments are forced to resoprt to.

Hope Labor comes up with something very similar.

My question to the desperate little old $hit is-- Is this a core or non-core promise? and did Janet sanction it?

He'll do it, but only if he wins this election AND THE NEXT.
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IQSRLOW
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Re: $34 billion in tax cuts
Reply #9 - Oct 16th, 2007 at 8:48pm
 
My question to the desperate little old $hit is-- Is this a core or non-core promise? and did Janet sanction it?

Would him saying these tax cuts are L.A.W ala Keating keep your proverbial whining down to a dull roar??
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Termite
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Re: $34 billion in tax cuts
Reply #10 - Oct 18th, 2007 at 8:25am
 
Err "proverbial whining" IQSRLOW?  Are you rudely stifling comment?

Acid Monkey I didn't say the lying little old $hit Howard did NOTHING as far as tax cuts but said he (and his smirking soon to be leader team mate) had merely 'tinkered'.

You have assumed I am a Labor voter, or is this forum solely for pig-ignorant Lieberal voters to to perpetuate Lieberal crap?

No wonder there are so few members

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Re: $34 billion in tax cuts
Reply #11 - Oct 18th, 2007 at 10:07am
 
Termite wrote on Oct 18th, 2007 at 8:25am:
You have assumed I am a Labor voter, or is this forum solely for pig-ignorant Lieberal voters to to perpetuate Lieberal crap?



Hi Termite.

I have never assumed that you are a Labor voter. I don't think in my post anywhere have I indicated any such assumptions. In fact I responded only to the comment you have presented (which was about Liberal policy and hence my response was about Liberal policy).

I have never made any personal remarks about or towards you regarding your political leanings and I am disappointed by your "backlash" in calling me "pig-ignorant" (I'm assuming that you were directing that personal insult towards me or "my kind" in general).

And while we're on the topic of assmptions, you've assumed that I am a Liberal voter. I've only posted 12 times on this forum. You will find that the majority of my comments are left leaning. I've also indicated elsewhere that I am a swinging voter and that this coming election I will be voting Labor. I haven't been convinced to go the other way yet.

In fact, my response to your post did indicate that Liberal policies as a whole has failed to sway me.

Cheers!
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Swan guarantees tax cuts
Reply #12 - Dec 8th, 2007 at 10:53am
 
Swan guarantees tax cuts

http://www.smh.com.au/news/National/Swan-guarantees-tax-cuts/2007/12/08/1196813054032.html

Federal treasurer Wayne Swan is ignoring calls to junk Labor's $31 billion tax-cut plan.

Mr Swan has instead guaranteed he will deliver the tax cuts, rejecting the push from social progressives for Labor to spend the money on better services, The Australian reports.

Insisting the cuts will ease pressure on inflation and interest rates by boosting workforce participation, the new treasurer has also promised an austere first budget in May, delivering on election promises but offering no surprises outside further cuts in spending.

Days after being sworn in as treasurer, Mr Swan said some sections of the community are "beating the drum" and calling for Labor to "junk" tax cuts.

But in an apparent pre-emptive warning to the Left of his own party and others calling for more progressive reform, he said people need to understand that tax cuts, along with new increased childcare rebates, are designed to encourage as many as 100,000 people to rejoin or enter the workforce, The Australian reports.
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Re: Swan guarantees tax cuts
Reply #13 - Dec 8th, 2007 at 12:02pm
 
freediver wrote on Dec 8th, 2007 at 10:53am:
Swan guarantees tax cuts

http://www.smh.com.au/news/National/Swan-guarantees-tax-cuts/2007/12/08/1196813054032.html

Federal treasurer Wayne Swan is ignoring calls to junk Labor's $31 billion tax-cut plan.

Mr Swan has instead guaranteed he will deliver the tax cuts, rejecting the push from social progressives for Labor to spend the money on better services, The Australian reports.

Insisting the cuts will ease pressure on inflation and interest rates by boosting workforce participation, the new treasurer has also promised an austere first budget in May, delivering on election promises but offering no surprises outside further cuts in spending.

Days after being sworn in as treasurer, Mr Swan said some sections of the community are "beating the drum" and calling for Labor to "junk" tax cuts.

But in an apparent pre-emptive warning to the Left of his own party and others calling for more progressive reform, he said people need to understand that tax cuts, along with new increased childcare rebates, are designed to encourage as many as 100,000 people to rejoin or enter the workforce, The Australian reports.


Why is that a story?  They promised it.  Surely it doesn't warrant a story expressing surprise they intend on keeping an election promise to implement the tax cuts they promised?  Though given Liebor's record of broken promises maybe they do.  Already Kevvy has started his backpedalling on greenhouse gas targets and his broadband to every home and a computer for every kid is looking very very shaky.

He's modified his stance on Aboriginals with his very sly pronunciations over 'apology' and he has reneged on his undertaking to the Australian Christian Lobby to oppose gay marriage in the ACT.

So far he's proving he's a liar very rapidly.
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« Last Edit: Dec 8th, 2007 at 12:08pm by deepthought »  
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Re: $34 billion in tax cuts
Reply #14 - Dec 8th, 2007 at 2:01pm
 
deepy - swan is an ALPer, they generally don't keep their promises.
So this IS a newsworthy item  Wink
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