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Abbotts Tax Plan Rubbished By Labor. (Read 1423 times)
imcrookonit
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Abbotts Tax Plan Rubbished By Labor.
Aug 9th, 2010 at 9:00am
 

Abbott's tax plans rubbished by Labor


Assistant Treasurer Nick Sherry has scoffed at the coalition's plans for tax reform, labelling it nothing more than "a review of a review".

Opposition Leader Tony Abbott says a coalition government will adopt some of the tax reforms outlined in a review by Treasury secretary Ken Henry, so far largely ignored by Labor.

But Senator Sherry said when it came to real tax policies, the coalition's cupboard was bare.

"What Tony Abbott promised was a review of a review," he said on ABC Television on Monday, adding there was a lack of specific detail.

"We've got one specific on tax from him at this election and that is increasing company tax, and extraordinarily decreasing company tax at the same time."

Asked why the Labor government had dismissed so many of the recommendations set out by Dr Henry, Senator Sherry said it had adopted the biggest - a resource rent tax on the mining sector.
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mozzaok
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Re: Abbotts Tax Plan Rubbished By Labor.
Reply #1 - Aug 9th, 2010 at 9:42am
 
Well nobody but a totally blinded Labor fanboy could accuse the Libs of "over thinking?" policy decisions.
Labor has become a joke with all it's committees about what to do, and committees about whether to have more committees, so attacking the Libs on this point is just hypocritical.

I loathe Abbott, and I fear for the many thousands of people that will lose their homes, jobs, and businesses, if Mr Abbott wins this election, but being hypocritical is not going to win Labor any votes.
They need to own their mistakes, and move on, as rewriting history will only fool those who would blindly follow you anyway.

Abbotts big three issues that he started trumpeting, the day Gillard became PM were, in order;
1;Stop the boats.
He thinks a few thousand people a year fleeing persecution, and looking for a safer life in Australia, is the number one issue facing the country.
It is absolutely shameful that in a world facing climate change, and which is also experiencing the greatest financial crisis our generation has ever seen, that turning away refugees is his absolute first thought.
2;Stop the Building Program for schools.
Now we know that Abbott opposed the stimulus package, and offered the suggestion of just hoping everything gets better by itself, or the "Ostrich" approach if you like.
The fact is that all the leading economists, and experts in the field have roundly endorsed Labor's policies, as having brought us through the economic crisis in better shape than any other country in the world.
The schools are very grateful for the much needed infrastructure boost, and generations of young Aussies will reap tangible benefits from this policy for generations to come.
The building Industry would have gone into very serious decline, sparking a local financial crisis that would have critically hurt hundreds of thousands, and effected millions more.
It was urgent action taking to address an urgent problem.
The fact that some sought to exploit the rapid deployment of this economic liferaft to rort the system is shameful, and any and all ripoffs need to be thoroughly investigated, and criminal charges laid wherever possible.
We do however need to keep this program going, as the economy is not out of the woods yet, and the building industry needs to stay active for our economy to stay active.

Abbott plans to cancel this much needed program.

3;  Stop The Mining Super Tax.
Yes, believe it or not, he actually proposes to stop the Tax on huge profits that the mining companies have agreed it is fair for them to pay.
So, instead of spending money on Health, Education, and Infrastructure, he wants to make billionaires even richer.

THAT is what Tony Abbott cares about, they are the things he started this campaign with.

Tony puts the BIG "L" back into Liberal, as well as in,
Lousy, Lying, Lowlife. Wink
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Verge
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Re: Abbotts Tax Plan Rubbished By Labor.
Reply #2 - Aug 9th, 2010 at 10:37am
 
Henry Tax review - 145 recommendations.

Those put forward by labor - 4.

You tell me why we shouldnt see the Henry Review in all its glory.
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And why not, if you will permit me; why shouldn’t I, if you will permit me; spend my first week as prime minister, should that happen, on this, on your, country - Abbott with the Garma People Aug 13
 
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Verge
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Re: Abbotts Tax Plan Rubbished By Labor.
Reply #3 - Aug 9th, 2010 at 10:40am
 
Mozz, I think you would find Abbott isnt cancelling the BER, rather going to the method of the schools submitting applications for what they actually want and need and source local contractors to do the job.

The savings there alone is massive.

But dont let the truth get in the way of a good story.
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And why not, if you will permit me; why shouldn’t I, if you will permit me; spend my first week as prime minister, should that happen, on this, on your, country - Abbott with the Garma People Aug 13
 
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Re: Abbotts Tax Plan Rubbished By Labor.
Reply #4 - Aug 9th, 2010 at 10:46am
 
"You tell me why we shouldnt see the Henry Review in all its glory. "

I thought it had been released?

As to the fact that only four recommendations have been taken up, that is the nature of these things.

Some reviews in the past had zero recommendations accepted by the government.

Others were instigated by one party, and legislated by the other party.

Too much emphasis is placed on this. Imagine if ANY government were to say "yes we accept all recommendations, and we are now going to table the legislation" - never happen.

To not tread cautiously in regard our tax system would be follish indeed.
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Re: Abbotts Tax Plan Rubbished By Labor.
Reply #5 - Aug 9th, 2010 at 10:50am
 
Please delete wrote on Aug 9th, 2010 at 10:46am:
"You tell me why we shouldnt see the Henry Review in all its glory. "

I thought it had been released?

As to the fact that only four recommendations have been taken up, that is the nature of these things.

Some reviews in the past had zero recommendations accepted by the government.

Others were instigated by one party, and legislated by the other party.

Too much emphasis is placed on this. Imagine if ANY government were to say "yes we accept all recommendations, and we are now going to table the legislation" - never happen.

To not tread cautiously in regard our tax system would be follish indeed.

There was no treading carefully at all.

They pulled the bits and peices out they thought would win them votes.  Ive spent 10 years in taxation and I was looking forward to the greatest overhaul of the system in our time, only to find it a complete dud.
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And why not, if you will permit me; why shouldn’t I, if you will permit me; spend my first week as prime minister, should that happen, on this, on your, country - Abbott with the Garma People Aug 13
 
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Re: Abbotts Tax Plan Rubbished By Labor.
Reply #6 - Aug 9th, 2010 at 10:54am
 
"Ive spent 10 years in taxation and I was looking forward to the greatest overhaul of the system in our time, only to find it a complete dud. "

I thought the Super Profits Tax was a good idea.

I also would like to see more radical change, but we both know it isn't going to happen.
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Re: Abbotts Tax Plan Rubbished By Labor.
Reply #7 - Aug 9th, 2010 at 10:56am
 
Please delete wrote on Aug 9th, 2010 at 10:54am:
"Ive spent 10 years in taxation and I was looking forward to the greatest overhaul of the system in our time, only to find it a complete dud. "

I thought the Super Profits Tax was a good idea.

I also would like to see more radical change, but we both know it isn't going to happen.


In the context of the review as a whole it is.

Sadly though the reivew had many other ideas in it that would have been good but werent vote winners, hence Labor holding them back.
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And why not, if you will permit me; why shouldn’t I, if you will permit me; spend my first week as prime minister, should that happen, on this, on your, country - Abbott with the Garma People Aug 13
 
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Re: Abbotts Tax Plan Rubbished By Labor.
Reply #8 - Aug 9th, 2010 at 11:03am
 

I'd wager that the Libs plan to increase the GST to 12.5-15% at the earliest opportunity - after all, this is what their Big Business Union puppetmasters have been demanding...

Moreover, I'd wager that Abbott & Co have already secretly promised the ACCI/BCA that this is their intention...



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Lamenting the shift in the Australian psyche, away from the egalitarian ideal of the fair-go - and the rise of short-sighted pollies, who worship the 'Growth Fairy' and seek to divide and conquer!
 
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Re: Abbotts Tax Plan Rubbished By Labor.
Reply #9 - Aug 9th, 2010 at 11:05am
 
Equitist wrote on Aug 9th, 2010 at 11:03am:
I'd wager that the Libs plan to increase the GST to 12.5-15% at the earliest opportunity - after all, this is what their Big Business Union puppetmasters have been demanding...

Moreover, I'd wager that Abbott & Co have already secretly promised the ACCI/BCA that this is their intention...

Have you got anything even remotely accurate to attach to this comment.

Its the same crap people peddled which Rudd and Gillard went on their spending spree.  The GST is the new sky is falling and it appears its now the ALP people that are the new chicken little.
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And why not, if you will permit me; why shouldn’t I, if you will permit me; spend my first week as prime minister, should that happen, on this, on your, country - Abbott with the Garma People Aug 13
 
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Re: Abbotts Tax Plan Rubbished By Labor.
Reply #10 - Aug 9th, 2010 at 11:29am
 

Verge wrote on Aug 9th, 2010 at 11:05am:
Equitist wrote on Aug 9th, 2010 at 11:03am:
I'd wager that the Libs plan to increase the GST to 12.5-15% at the earliest opportunity - after all, this is what their Big Business Union puppetmasters have been demanding...

Moreover, I'd wager that Abbott & Co have already secretly promised the ACCI/BCA that this is their intention...

Have you got anything even remotely accurate to attach to this comment.

Its the same crap people peddled which Rudd and Gillard went on their spending spree.  The GST is the new sky is falling and it appears its now the ALP people that are the new chicken little.


I beg to differ, Verge - I genuinely believe that this is high on the Lib agenda and I've noted that many Conservative supporters on political message boards have advocated for the 12.5% GST over time!

Moreover, I'm genuinely surprised that the Labs haven't jumped on this as the Libs' most likely revenue counter-balancing measure for their corporate tax cuts!

Maybe this is why the Libs haven't submitted their major costings for Treasury budget 'honesty' review...
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Lamenting the shift in the Australian psyche, away from the egalitarian ideal of the fair-go - and the rise of short-sighted pollies, who worship the 'Growth Fairy' and seek to divide and conquer!
 
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Re: Abbotts Tax Plan Rubbished By Labor.
Reply #11 - Aug 9th, 2010 at 2:20pm
 
THE TAX SYSTEM EXPLAINED (IN BEER)


Suppose that every day, ten men go out for beer and the bill for all ten comes to $100.

If they paid their bill the way we pay our taxes, it would go something like this...

The first four men (the poorest) would pay nothing.

The fifth would pay $1.

The sixth would pay $3.

The seventh would pay $7..

The eighth would pay $12.

The ninth would pay $18.

The tenth man (the richest) would pay $59.

So, that's what they decided to do.   The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve ball.

"Since you are all such good customers," he said, "I'm going to reduce the cost of your daily beer by $20". Drinks for the ten men would now cost just $80.

The group still wanted to pay their bill the way we pay our taxes. So the first four men were unaffected.  They would still drink for free. But what about the other six men - the paying customers?  How could they divide the $20 windfall so that everyone would get his fair share?

They realised that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer.

So, the bar owner suggested that it would be fair to reduce each man's bill by a higher percentage the poorer he was, to follow the principle of the tax system they had been using, and he proceeded to work out the amounts he suggested that each should now pay.

And so the fifth man, like the first four, now paid nothing (100% saving).

The sixth now paid $2 instead of $3 (33% saving).

The seventh now paid $5 instead of $7 (28% saving).

The eighth now paid $9 instead of $12 (25% saving).

The ninth now paid $14 instead of $18 (22% saving).

The tenth now paid $49 instead of $59 (16% saving).

Each of the six was better off than before. And the first four continued to drink for free. But, once outside the bar, the men began to compare their savings.

"I only got a dollar out of the $20 saving," declared the sixth man. He pointed to the tenth man, "but he got $10!"

"Yeah, that's right," exclaimed the fifth man. "I only saved a dollar too. It's unfair that he got ten times more benefit than me!"

"That's true!" shouted the seventh man. "Why should he get $10 back, when I got only $2? The wealthy get all the breaks!"

"Wait a minute," yelled the first four men in unison, "we didn't get anything at all. This new tax system exploits the poor!"

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn't show up for drinks, so the nine sat down and had their beers without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and government ministers, is how our tax system works.

The people who already pay the highest taxes will naturally get the most benefit from a tax reduction.

Tax them too much, attack them for being wealthy, and they just may not show up anymore.

In fact, they might start drinking overseas, where the atmosphere is somewhat friendlier!


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Re: Abbotts Tax Plan Rubbished By Labor.
Reply #12 - Aug 9th, 2010 at 3:09pm
 
"So far this election campaign, we have announced expenditure of $25.733 billion," he said.

"We've announced savings of $28.534 billion.

"So, so far we have $2.8 billion of net savings on the announced policies."

However, earlier today, Mr Abbott said the coalition's promised expenditure was less than $18 billion.

http://www.smh.com.au/federal-election/economy/hockeys-7b-contradiction-of-abbott-20100809-11syu.html


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