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Liberal Surpluses (Read 2425 times)
Doctor Jolly
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Re: Liberal Surpluses
Reply #30 - May 10th, 2012 at 12:22pm
 
FriYAY wrote on May 10th, 2012 at 12:20pm:
Doctor Jolly wrote on May 10th, 2012 at 12:15pm:
FriYAY wrote on May 10th, 2012 at 11:04am:
Doctor Jolly wrote on May 10th, 2012 at 9:40am:
Incomptinence wrote on May 10th, 2012 at 9:20am:
We need to cross the Costello and Keating bloodlines to create the ultimate treasurer breed.

We shall call this project les enfant icantspeakawordoffrenchibles.



Costello wasnt a good treasurer.   Not in the class of Keating or even Swan.

Imagine if Costello was treasurer through the GFC. He'd be delivering us a "surplus" *, while the country dived head long into a depression.

If still in power now, he'd have run out of assets to sell, and his surplus's would be harder and harder to achieve.


His surpluses, instead of being invested in much needs infrastructure, were pissed up against the wall on vote buying middle class welfare.

* surplus = over taxation



So Swan’s surplus = over taxation as well?



In a near $1 trillion dollar economy, breaking even by $1.5b either way, is essentially a neutral budget.

There are plenty of economic professionals who dispell this surplus at all costs mentality.  Heres just one:

http://www.abc.net.au/money/currency/features/feat13.htm

The claim is often made that governments which run structural budget surpluses, and achieve this goal through expenditure restraint, are better economic managers than those which run structural deficits. In fact structural surpluses can often indicate weak, lazy government rather than economic competence and virility.


You stated surpluses = over taxation.

So Swan’s surplus = over taxation as well?

Simple question..



I gave you a simple answer.
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FriYAY
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Re: Liberal Surpluses
Reply #31 - May 10th, 2012 at 12:24pm
 
Doctor Jolly wrote on May 10th, 2012 at 12:22pm:
FriYAY wrote on May 10th, 2012 at 12:20pm:
Doctor Jolly wrote on May 10th, 2012 at 12:15pm:
FriYAY wrote on May 10th, 2012 at 11:04am:
Doctor Jolly wrote on May 10th, 2012 at 9:40am:
Incomptinence wrote on May 10th, 2012 at 9:20am:
We need to cross the Costello and Keating bloodlines to create the ultimate treasurer breed.

We shall call this project les enfant icantspeakawordoffrenchibles.



Costello wasnt a good treasurer.   Not in the class of Keating or even Swan.

Imagine if Costello was treasurer through the GFC. He'd be delivering us a "surplus" *, while the country dived head long into a depression.

If still in power now, he'd have run out of assets to sell, and his surplus's would be harder and harder to achieve.


His surpluses, instead of being invested in much needs infrastructure, were pissed up against the wall on vote buying middle class welfare.

* surplus = over taxation



So Swan’s surplus = over taxation as well?



In a near $1 trillion dollar economy, breaking even by $1.5b either way, is essentially a neutral budget.

There are plenty of economic professionals who dispell this surplus at all costs mentality.  Heres just one:

http://www.abc.net.au/money/currency/features/feat13.htm

The claim is often made that governments which run structural budget surpluses, and achieve this goal through expenditure restraint, are better economic managers than those which run structural deficits. In fact structural surpluses can often indicate weak, lazy government rather than economic competence and virility.


You stated surpluses = over taxation.

So Swan’s surplus = over taxation as well?

Simple question..



I gave you a simple answer.


So we are just a little bit over taxed?

What if all the tax money is utilised in the budget? Can you not still be over taxed, but show no surplus? Undecided
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Doctor Jolly
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Re: Liberal Surpluses
Reply #32 - May 10th, 2012 at 12:48pm
 
FriYAY wrote on May 10th, 2012 at 12:24pm:
So we are just a little bit over taxed?

What if all the tax money is utilised in the budget? Can you not still be over taxed, but show no surplus? Undecided


What on earth are you talking about ?

Roll Eyes

Swan has got it in his mind that we need a surplus. He's aimed for a very small one, which at the end of the day will probably be about even.   Not a bad policy when aiming for budget neutrality in this volatile period.

The other question is, should he be aiming for a surplus at all?   Is the reducing in spending going to take too much stimulus out of the economy at the wrong time ?

Could it tip the economy into recession ?

Me personally, I would have been aiming for a small deficit (around $5 to $10b). This would have the effect of tempering the economy allowing interest rates to drop and dropping the dollar. Both things that are probably in our best interest.

All in all its a jugling act. But to pursue surpluses for the sake of surpluses is irrational economic policy. You pursue a surplus if the economy warrants it.
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FriYAY
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Re: Liberal Surpluses
Reply #33 - May 10th, 2012 at 3:21pm
 
Doctor Jolly wrote on May 10th, 2012 at 12:48pm:
FriYAY wrote on May 10th, 2012 at 12:24pm:
So we are just a little bit over taxed?

What if all the tax money is utilised in the budget? Can you not still be over taxed, but show no surplus? Undecided


What on earth are you talking about ?



* surplus = over taxation

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Doctor Jolly
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Re: Liberal Surpluses
Reply #34 - May 10th, 2012 at 3:38pm
 
FriYAY wrote on May 10th, 2012 at 3:21pm:
Doctor Jolly wrote on May 10th, 2012 at 12:48pm:
FriYAY wrote on May 10th, 2012 at 12:24pm:
So we are just a little bit over taxed?

What if all the tax money is utilised in the budget? Can you not still be over taxed, but show no surplus? Undecided


What on earth are you talking about ?



* surplus = over taxation



I know what I'm talking about. But what are you talking about ?
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Dnarever
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Re: Liberal Surpluses
Reply #35 - May 10th, 2012 at 7:47pm
 
Andrei.Hicks wrote on May 10th, 2012 at 12:04am:
You'd have to admit though that we were better off under Howard.

When Howard was in, we did well in budgets. He gave us a greater share in the economic well being of the country, we got $5k payments for our children, we got family benefits, we got decent rebates on our health cover.

Under Labor -
Took away the baby bonus
Means tested

Taken away the health insurance rebate
No they didn't

Cut the superannuation tax assistance
not really


Labor just dislike the people who basically pay for the country.

Howard didn't. Howard helped us.
It was a far better time for us all.



One of the biggest failures of the Howard years was the growth in upper middle welfare. Howard / Costello were lucky enough to be in power during the most benign economic period in recorded history.

We never got to see how they would do in difficult times or if they would keep wasting money on upper class welfare when things started to get tough.

Howard was giving high earners $150. increases when he gave workers $2.50 Over 12 years he basically gave pensioners or the unemployed nothing and managed to increase higher education from around $1500 to in many cases over $100,000.

Before being thrown out of office and his seat he said that he realised that he had not governed for the benefit of all Australians and committed to doing better if we let him con us again.

Yeah he was a peach. Luckiest sob ever.

Didn't deserve one term but conned 4.
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Dnarever
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Re: Liberal Surpluses
Reply #36 - May 10th, 2012 at 7:51pm
 
longweekend58 wrote on May 10th, 2012 at 9:16am:
adelcrow wrote on May 9th, 2012 at 5:45pm:
Incomptinence wrote on May 9th, 2012 at 5:44pm:
Every liberal has the midas touch duh.

That is why every single one of them knows everything about the economy. Oh save us wise libs!


I have one Labor Paul Keating and one Liberal Peter Costello..are there any others?


You forget that there were 6 treasurers with an ACTUAl surplus.

they are:

Keating
Costello (2007)
Costello (2006)
Costello (2005)
Costello (2004)
Costello (2003)




If you know the numbers how many Keatings did you leave out one or two and how many other Labor treasurers go in the list?

Hint there are no other Liberal treasurers.
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