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Yes, Kevin, Let’s Talk About “The Facts On Debt”

Very nicely put Comrade Yale sadly too many people think that because we are not in the same pile of shit as other countries that we do not have to worry. That is of course madness , but madness is the Labor way after all.
Cheers

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20 Comments

  1. Tony says:

    They have conveniently forgotten, in their comparison analysis also, that we have a substantial :

    1. Extremely profitable Mining Industry, and copious mineral deposits……. OTHER COUNTRIES DON’T !
    2. We have a disease free status, massive primary industry, with export markets that have been in place for decades……OTHER COUNTRIES DON’T
    3. We have a massive tourist industry…….OTHER COUNTRIES DON’T

    The list could continue forever, but the above is enough to prove the point.
    There is no reason, as to why we should be in any debt whatsover. Labor continues to blame our debt woes, on such things as the GFC, which had little effect here, as none of our traditional markets, where we sell our exports, were affected. Quite the reverse actually. The countries we sell to, actually made money out of the GFC, by just bypassing those markets affected. China being the primary example there.

    Labor continues it’s old ways, in that, debt is good, debt is normal, what is wrong with a couple of thousand million in debt. After all, everyone else is doing it ? Sounds like a bad take on Gordon Gekko doesn’t it ?

    Yep, right on Ruddy, Shifty Eyes Swanny River and co.

    Maybe right, but none of the other economies you are comparing us with, have tens of billions of dollars of royalties coming in annually, from mining exports and explorations ?

    Maybe right, but none of the other economies you are compariing us with, have tens of billions of dollars of trade coming in annually, from an envied primary sector ?

    There is absolutely no reason, as to why Australia should be in a negative bank/trade balance, none at all. The libs proved that, and have proved that, every time they have wrestled back power from an incompetent labor government, and they will prove it again, as soon as Labor has the guts to actually call the election date ? Give up Ruddy, ain’t no way your figures are going to improve by that much. You have had your honeymoon, if you can call it that. YOU AND YOU’RE MOB ARE DONE !

    One has to ask the question ? For over forty years now, labor has continually made the same mistakes, but have never learned that particular lesson have they ?

  2. Tony says:

    what is wordpress doing putting in all those ad links Iain ?
    What a scam !

  3. Iain Hall says:

    I don’t see the ads myself Tony, sadly my budget does not allow me to run the site ad free.

  4. Tony says:

    I don’t want to ruin the thread, so will send an email.

  5. Richard Ryan says:

    YEAP! The United States Of Australia is becoming more like it’s “big brother” America, oh gee, another boat, what next? Will the world end, for f%ck sake, get a grip on yourself.

  6. Richard Ryan says:

    ” In the same Pile of shit as other countries” such as America, Europe,

  7. Tony says:

    Wait for it folks ?
    If labor didn’t need anything else, to turn away its traditional voter base, they go and put up smokes by 25% per year, for the next four years. At the end of the four years, a cummulative increase of over 125% ? Admittedly, not until December, and probably a ploy, just to try and buy the votes of the richest part of society ?

    Way to go Rudd, (and your strangely quiet, for the last week anyway, treasurer Swan ?).
    You have already p*ssed off the richest half of our community, why not go whole hog, and p*ss off the poorest half as well !
    Talking about being consistent !
    Slap those that vote(d) for you, i.e. the working class, those that work hard, smoke and drink, right in the moosh, turn around with a hypnotic smile, and say you still have a great chance to win the election, when you have the guts to call a date ?

    Dam, what drugs are you on Ruddy, I certainly want some of those !
    😉

  8. Ray Dixon says:

    It’s a 25% increase spread over 4 years, not 25% per year. The end result being an increase of about $5 per pack of 20 (after 4 years). I agree it’s a bit rich but that’s what govts do – they tax the shit out of tobacco.

  9. Tony says:

    Sorry Ray, but it’s cummulative !

    25% + 25% + 25% + 25%
    On a pack of smokes say at $10 thats :
    $12.50 the first year then,
    $15.65 the second year, then
    $19.56 the third year, then finally,
    $24.45 the final year making the total increase ? Wait for it

    195.6 % increase over the four years.

    And before you say “give up”, I wonder if your reaction would be the same if the tax were applied to say tourism ? Or say wine or petrol ? (limiting people who could afford to travel to your part of the world, and other grog ? (trust me that one is coming !)

    I don’t know who is advising Rudd, but I think they should find a new vocation ?

  10. Tony says:

    But, on the plus side, is that it is not scheduled to come in, until December.
    A real election winner that one ?
    OMG, are these guys on drugs or what ?
    No wonder the treasurer has stayed quiet all week ?

  11. Iain Hall says:

    When I first took an interest in politics in the early seventies it was a the normal thing each year that the feds would raise the excise of beer and Ciggies, the sanctimonious would always suggest that this was a good way to save the indulgent from their sins. That was in a time when the majority of people smoked. Now I can’t help thinking that if Albo’s implicit argument that each rise in the price of fags were to bring about an 11% reduction in those who smoke were to be realised then surely the projections of the revenue stream must be wrong and that by the time the final instalment of this quartet of price rises comes in the treasury boon will be quite small.

    I have never been a smoker and I don’t like the habit at all but having seen how much my father enjoyed it even when he was dying from MS I can’t be that judgemental about those who love the stuff and think that they deserve the burden of paying for Labor mismanagement of our economy.

  12. Tony says:

    I also remember back to those days Iain.
    Monday, before budget night, the old man would go to the local licenced supermarket, and buy a couple of dozen bottles of fosters, as well as a couple of cartons of the dreaded weed, knowing what the next days budget would no doubt bring ?

    But, in those days, they would only increase smokes by a couple of cents a packet, not 25% in one hit ? I also remember when Victoria brought in the “Pyramid” tax on petrol. Wonder if that is still going ?

    The new tax is bad enough, but when you know, it is only there to cover labor’s unbelievable mismanagement of the economy (despite Rudd, Gillard, and Swan’s childish protestations otherwise), that is what really urks me, and probably millions of others !

    Sadly, this is only the beginning ?

  13. Ray Dixon says:

    No, it’s 25% over 4 years. The cumulative increase results in the average price going up by about $5 per pack after 4 years. The govt is NOT increasing them by 25% per year.

  14. Tony says:

    Semantics Ray. You are quoting flat interest, and that is not the cummulative affect.

    Tobacco excise will be increased by 60 per cent, or $5.3 billion, over the next four years, in the biggest individual tax increase designed to return the federal budget to surplus by 2016-17.

    Beginning on December 1, after the election, the excise will be increased by 12.5 per cent each year for four years. The rises will be in addition to already scheduled automatic excise increases.

    The first increase will add about $1 to the price of a packet of 20 cigarettes and all increases will add about $5.25 over four years. Cigarette prices vary by brand and location but many packs ­currently sell for about $17.
    http://www.afr.com/p/national/cigarette_excise_up_bn_to_save_surplus_CGOJ90j2McCZjVq9ir8f5N

  15. Ray Dixon says:

    Yes, “Tobacco excise will be increased by 60 per cent … over the next four years”, which equates to about 25% increase on the overall price after 4 years, not 125% as in your example in which you suggested they go up by more than double.

  16. Tony says:

    BTW Ray, remember when I said about a month ago, that labor took us from a $96b surplus to now over $200b defecit ?
    Well, hang on to your hats kids, the deficit is now, reportedly, at $264b ! And growing ?

    How are you and the labor hopefuls going to explain that away Ray ? The GFC again?
    That’s getting pretty old, and thankfully, the electorate is on to that load of crap now.

    BTW, I thought Gillard and Co said that the mining tax, and other budgetary measures were supposed to get us back in the black ?
    Hmm, what happened ? GFC again ? Dammed that gfc, pretty convenient for labor though, after all, if it wasn’t for that, they would have no excuse for their mismanagement of the economy would they ?
    Hang on a minute, there’s a thought ?
    😆

  17. Tony says:

    Must have missed this bit Ray ? 😉

    Tobacco excise will be increased by 60 per cent

    Again, you are getting confused with the difference between “flat” interest rates, and “cummulative” interest rates.
    There is a massive difference, and one that Rudd and co are praying that the rest of the economy doesn’t know either ?

  18. Ray Dixon says:

    No, you’re getting confused. You clearly said this:

    25% + 25% + 25% + 25%
    On a pack of smokes say at $10 thats :
    $12.50 the first year then,
    $15.65 the second year, then
    $19.56 the third year, then finally,
    $24.45 the final year

    In other words, you said they are going up by $14 per pack when they are only going up by $5 (after 4 years).

    Let’s drop it!

  19. Ray Dixon says:

    It was $22 billion surplus not $96 billion that Howard left from the boom ten years. Since 2008 though, any govt that did not go into significant debt to keep the economy afloat would have been guilty of mismanagement. You can crap on all you like about the debt but Aust’s position is healthy and every economic expert in the world has nothing but praise for the way the govt has kept Aust out of recession, inflation down, unemployment low, etc. This is just alarmist stuff and I’ve nothing more to say about it.

  20. Tony says:

    I will grant you my error of $96b surplus. That amount is what was owed after Keating and Co were done.

    In April 2006, the government announced it had completely paid off the last of $96 billion of Commonwealth net debt inherited when it came to power in 1996.
    http://en.wikipedia.org/wiki/Howard_Government

    You obviously have no concept of compound interest, so will let someone else explain it to you,
    you obviously have no concept of the inherrent dangers of public debt, so the same.

    Inflation low huh ?
    Hmm, wonder what will happen to those figures, once the increases in tobacco hits them ? Or do you think your buddies in Canberra can hide them, like they have everthing else ? i.e. Power prices are a classic example of that ?
    You honestly think that is the end of it ? 😆

    As for Howard’s surplus ?
    You are quoting his LAST budget, not the total that was left in the bank, which your pals quickly squandered ?
    http://www.news.com.au/money/federal-budget/federal-budget-2013-howard-era-tax-cuts-keeping-budget-in-red-independent-modelling-shows/story-fn84fgcm-1226641523508
    Regardless of the amount, it was still a positive figure in the bank of billions of dollars. Arguably $20b. BTW ? That was before we began selling our minerals to China for next to nothing wasn’t it ?

    Alarmist stuff huh ?
    I don’t know Ray, perhaps have a chat to those, especially that work for Ford or GM about losing their jobs in the last months, and rethink your assertion that we are NOT in a recession ? There are quite a few out there that think otherwise, and I would have a tendancy to agree with them ?

    That is primarily the reason as to why, every voter in the next election, should take a little time to consider these matters, and wonder why ? Do we really want to go through another three years of this ?
    We simply, as a people, cannot afford this political foreplay, or folly anymore !

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