Shorten accuses Coalition of parroting Trump on tax cuts   


    The Australian
    February 28, 2018


Bill Shorten has escalated attacks ­on the government’s proposed corporate tax cuts, accusing Malcolm Turnbull of trying to replicate “Trumponomics” with policies that benefit the rich.

The Opposition Leader said the Prime Minister was “inept” if he believed Australia should follow the American path of “trickle-down economics”, prompting a swift retort from Foreign Minister Julie Bishop, who declared a Shorten government would damage Australia’s relationship with its most important ally.

The Prime Minister’s Office released an analysis of Labor’s commitments to date, showing a “tax hit on every Australian, in every state and territory”.

The analysis said “every man, woman and child” would pay their share of $164 billion in Labor tax hikes — or about $6000 per person. But the calculations evenly distribute the impact of Labor’s already announced tax changes, which are targeted at higher income earners and investors.

Mr Shorten revved up his caucus yesterday with a claim that Mr Turnbull, who returned from the US on Monday, wanted to emulate the policies of Donald Trump. “Malcolm Turnbull has had a giddy time in America catching up with President Trump and seems to be quite taken by Trumponomics. He met Donald Trump and was so excited about corporate tax cuts he said ‘we must go down the American path, we must follow President Trump’s lead’,” Mr Shorten said.   

“While there are many things to admire about the US, we do not want an American-style wages system in this country, we do not want an American-style healthcare system and we do not want an American tax system.”   

Ms Bishop told the Coalition partyroom Mr Shorten, who called Mr Trump “barking mad” during the US election campaign, would damage Australia-US ­relations if he was elected to government. She said the government needed to remind the public “every day” of Mr Shorten’s lack of suitability to be prime minister.

The PMO analysis of Labor’s tax commitments includes its promise to abolish negative gearing, and to halve the 50 per cent discount on capital gains tax for assets held for more than one year.

It includes Labor’s pledge to lift the top marginal tax rate to 49.5 per cent — which applies to incomes over $180,000 — to fully fund the National Disability ­Insurance Scheme, and its proposed 30 per cent tax on distributions from trusts.

Labor’s superannuation tax hikes for high earners and limits on tax deductions for the cost of managing tax affairs are also included. “The numbers are very conservative. They do not include Mr Shorten’s higher company taxes, which will mean less investment, lower growth, fewer jobs, and lower wages,” analysis said.

   

whiteknight wrote on Feb 28^th, 2018 at 3:51am:



Bill.

Is that you Bill?

are you my mummy Bill?

when i was a baby ,i had a mummy and she used to look after me.

she should have taught me to stand on my own 2 feet, but instead she did everything for me.

maybe that wasnt so good, because now i cant do anything for myself.

I'm a 50 year old baby.

thats an ugly thing...an old infant.

help me Bill

help me.

Help me stop being a little cry baby

help me to at long last grow up and get some self respect.

Please kick me out of the nest Bill

Please stop pandering to me.

I'm begging you Bill.

All this smothering is keeping my development suppressed.

I think i'll go take a nap Bill.

its about all i'm good for 

From the OP....

Quote:


How independent and non partisan would this analysis be....The Coalition have a history of peddling bullshit???



https://www.theguardian.com/australia-news/2017/aug/14/parliamentary-budget-offi...

Bam wrote on Feb 28^th, 2018 at 10:15am:


First para. Should have gone to Spec Savers. No need to even mention it if it benefits everybody.

Quote:

Sir Grappler Truth Teller OAM wrote on Feb 28^th, 2018 at 11:30am:


I think she was referring to the 'barking mad' comment.

Sir Grappler Truth Teller OAM wrote on Feb 28^th, 2018 at 11:56am:


They may be barking mad. Saying it is the problem. For some anyway.

Auggie wrote on Mar 1^st, 2018 at 2:09pm:


Umm - it's returning the top marginal tax rate to what it was... and that incorporates the opportunity enjoyed by high income earners to place funds in tax-reducing schemes.  So it's not an unreasonable imposition on those with high incomes.

30% on trust distribution I will accept.

Ummmm.. if the NDIS was an insurance scheme, and a levy taken from incomes, that funding unless carefully kept separate, would become part of the slush fund titled consolidated revenue, and would suffer the same fate as Medicare and the former but still existent retirement packaging = pension, which had a 7.5% portion of income tax never repealed. 

It would, like Medicare and Pensions/Social Security, in the hands of politicians become a burden on consolidated revenue.  That EVERY part of government spending out of consolidated revenue could be equally labeled as a 'burden' seems to escape them.

It could only work if the funding was kept totally isolated and insulated from the grasping hands of politicians.

We are seeing right here and now the move by Turnbull to get government fingers into the massive superannuation 'pie' and spend it as a 'business venture' by 'getting involved' in infrastructure building in the United States.  That didn't take long... and was prophesied by many for a long time before it became public.