Australian Politics Forum - Peter Martin likes the budget

bogarde73

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Peter Martin likes the budget
May 5^th, 2016 at 10:27am

The Economics Editor of The Age thinks the budget has a lot of merit, not only for what's in it but also and particularly for the innovative processes in putting it together.

http://www.theage.com.au/comment/federal-budget-2016--the-more-you-look-at-it-th...

Read what he says with an open mind if you can do that.
I agree with him, but as Mandy Rice Davies said, "he would say that wouldn't he".

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Know the enemies of a civil society by their public behaviour, by their fraudulent claim to be liberal-progressive, by their propensity to lie and, above all, by their attachment to authoritarianism.

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Its time Gold Member Offline Boot libs out Posts: 25639 Gender:	Re: Peter Martin likes the budget Reply #1 - May 5^th, 2016 at 10:30am Does he like Labors half of Morrisons budget?
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Its time Gold Member Offline Boot libs out Posts: 25639 Gender:	Re: Peter Martin likes the budget Reply #2 - May 5^th, 2016 at 10:31am Real budget tonight
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Armchair_Politician

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Re: Peter Martin likes the budget
Reply #3 - May 5^th, 2016 at 11:10am

bogarde73 wrote on May 5^th, 2016 at 10:27am:

The Economics Editor of The Age thinks the budget has a lot of merit, not only for what's in it but also and particularly for the innovative processes in putting it together.

http://www.theage.com.au/comment/federal-budget-2016--the-more-you-look-at-it-th...

Read what he says with an open mind if you can do that.
I agree with him, but as Mandy Rice Davies said, "he would say that wouldn't he".

Up until now, people past retirement age who still worked couldn't put money into their superannuation. They can now thanks to Morrison. Up until now, retirees who downsized their house and had $100k (for example) left over couldn't put that into their superannuation, but they can now thanks to Morrison.

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cods

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Re: Peter Martin likes the budget
Reply #4 - May 5^th, 2016 at 11:13am

bogarde73 wrote on May 5^th, 2016 at 10:27am:

The Economics Editor of The Age thinks the budget has a lot of merit, not only for what's in it but also and particularly for the innovative processes in putting it together.

http://www.theage.com.au/comment/federal-budget-2016--the-more-you-look-at-it-th...

Read what he says with an open mind if you can do that.
I agree with him, but as Mandy Rice Davies said, "he would say that wouldn't he".

is he sleeping with the enemy.....

I cant see him keeping his job can you????...

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Vic

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Re: Peter Martin likes the budget
Reply #5 - May 5^th, 2016 at 11:56am

Armchair_Politician wrote on May 5^th, 2016 at 11:10am:

bogarde73 wrote on May 5^th, 2016 at 10:27am:

The Economics Editor of The Age thinks the budget has a lot of merit, not only for what's in it but also and particularly for the innovative processes in putting it together.

http://www.theage.com.au/comment/federal-budget-2016--the-more-you-look-at-it-th...

Read what he says with an open mind if you can do that.
I agree with him, but as Mandy Rice Davies said, "he would say that wouldn't he".

Up until now, people past retirement age who still worked couldn't put money into their superannuation. They can now thanks to Morrison. Up until now, retirees who downsized their house and had $100k (for example) left over couldn't put that into their superannuation, but they can now thanks to Morrison.

"f you’re aged 65 or over (but under 75), you can make a non-concessional contribution if you satisfy a work test in the financial year that you contribute. In short, the work test is working 40 hours in any 30-day period in the financial year in which you intend to make.

Anyone under the age of 65 can make a non-concessional contribution to a superannuation fund whether they’re employed, self-employed or not employed. Note that the original source of the cash, such as an inheritance or tatts lotto win or employment income, is irrelevant.

If you’re aged 75 or over, you can no longer make super contributions. You can make super contributions up to the age of 74 (except when you make a contribution after turning 75, and you ensure that the contribution is made before the 28th day of the month following the month in which you turn 75).

http://www.superguide.com.au/boost-your-superannuation/i%E2%80%99m-retired-can-i...

Article written Nov 2015

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“Fantastic. Great move. Well done Angus”

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bogarde73 Gold Member Offline Anti-Global & Contra Mundum Posts: 18443 Gender:	Re: Peter Martin likes the budget Reply #6 - May 5^th, 2016 at 12:25pm My money says Leftie doesn't read it. I can afford a good bet today.
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Its time Gold Member Offline Boot libs out Posts: 25639 Gender:	Re: Peter Martin likes the budget Reply #7 - May 5^th, 2016 at 12:40pm bogarde73 wrote on May 5^th, 2016 at 12:25pm: My money says Leftie doesn't read it. I can afford a good bet today. He is saying it is an improvement over sloppy joes , no chit , that wouldnt be difficult
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John Smith Gold Member Offline Australian Politics Posts: 78311 Gender:	Re: Peter Martin likes the budget Reply #8 - May 5^th, 2016 at 1:04pm bogarde73 wrote on May 5^th, 2016 at 10:27am: The Economics Editor of The Age thinks the budget has a lot of merit, Reversing Abbott and Hockeys' policies always had merit ... it was you who was insisting hey got it right
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perceptions_now

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Re: Peter Martin likes the budget
Reply #9 - May 5^th, 2016 at 1:53pm

I re-post the following here, as it is relevant!

perceptions_now wrote on May 4^th, 2016 at 4:45pm:

Budget 2016: Credit Suisse says super changes leave ASX 'worse off'

A tightening in superannuation contributions, as revealed by the Federal Budget on Tuesday, will leave the equity market worse off, says Credit Suisse.
The government plans to tighten up on superannuation tax concessions from next year, reducing the income threshold from $300,000 to $250,000 and capping contributions at $25,000.

"Chances are that a lot of those high income earners who were putting millions into their super are still going to end up putting a lot of their savings into equities because few asset classes offer better returns," said Angus Nicholson, analyst at IG Markets.

That said, the interest rate cut combined with Chinese stimulus and easier global credit market conditions, still leaves Aussie equities as an attractive proposition and Credit Suisse expects the ASX to hit 6000 points by December.

Will we keep the AAA rating?
The release of the budget has eased speculation regarding the sustainability of the country's AAA rating, though ratings agencies have been cautious in their responses.

http://www.smh.com.au/business/federal-budget/budget-2016-credit-suisse-says-sup...
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Well FRANKLY, there's a lot more going on, Than the Australian Budget!!!
In any event, given the Global status, it is much more likely that the ALL ORDS will hit lower than 4,000, rather than hitting higher than 6,000!!!
Also, whilst the OZ Debt to GDP is set to go higher, it is still a lot better off than most other countries. The OZ ratio is now closing in on 35%, whilst most other major countries already being in the 90-100% plus range.
http://www.tradingeconomics.com/country-list/government-debt-to-gdp
HOWEVER, the USA, which is over 100% Debt to GDP, still has a AA+ rating, the UK still has a AAA rating whilst it enjoys a Debt to GDP of of some 90% & other major players get equally "favored treatment"!
http://www.tradingeconomics.com/united-states/rating

So, I would suggest there is a "great deal" going on, about which we are NOT AWARE!!!

In any event, Malcolm is going to the polls, because the longer this election is delayed, the more likely it is that the Global & Local Economy will head South & in a big way & therefore it will adversely affect whomever is in power.

If we come back to the main Economic question of which party can better run the OZ Economy, at this point in time -
THE ONLY CORRECT ANSWER IS NEITHER LIBERAL, NOR LABOR, AS WHAT IS HAPPENING IS NOW WELL BEYOND THEIR CONTROL!!!

We should also ask, when were they (any of them) -
ever interested in what is really in the Best, Long Term interests of All Australians???
I suspect it is now many decades, at least!

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