Tuesday, May 03, 2016

Federal Budget

The headline in the then Sun newspaper said smokes to rise by 2 cents. 'Dad, can I have two dollars to buy up and beat the price rise?' 'No.' The price of a packet of Park Drive cigarettes rose from 39 cents to 41 cents and I think at the same time a box of matches rose from 2 cents to 3 cents. There was outrage about the matches. Some things in Federal Budgets never change, although I doubt the now Herald Sun will splashing ciggies to go up on their front page in 2016.

Apparently Australia runs a budget deficit. What? We spend more than we earn? That is not right. (the less disingenuous me knows that our budget deficit is very small compared to most countries and no big deal). How will we pay off the deficit?  From taxes of course. So the government increased taxes to pay off the deficit? No, it cut taxes for the rich and small to medium size businesses. When I think of small business, I think of privately owned cafes and the local green grocer. The Liberal Party, conservatives, class very large businesses as small business, so sorry cafe owner and fruit and vegetable person, you are getting nothing.

I am close but I won't benefit from the personal income tax cuts and it seems a figure of around 4/5ths plus of the working population won't.

There may be some more of interest in the detail tomorrow once the journalists have had time to analyse but it was a budget that did not create excitement or distress, and that was perhaps how it was meant to be.

7 comments:

  1. I suspect the devil is in the detail. And read recently that budget measures continue to be included in savings until they are formally removed. Think 2014 Budget measures.

    ReplyDelete
    Replies
    1. EC, and as you would be aware, the detail is now coming out.

      Delete
  2. I think the U.S. runs a massive deficit. And here the taxes are lower on the rich. Warren Buffet, one of the U.S.'s uber rich, claims his secretary pays more in taxes than he does.

    ReplyDelete
    Replies
    1. Strayer, indeed your budget is massive, but so are those of many other countries. Overall, you taxes are lower than ours and we are among the least taxed people of the world.

      Delete
  3. Like the rest of politics, I don't understand the budgets, never have. I think it's disgraceful that big businesses and the super-rich don't pay their fair share of taxes.

    ReplyDelete
    Replies
    1. River, they simply don't.Both major parties owe allegiances to big business, including through political donations. This really corrupts the system of acting for the common good.

      Delete
  4. I'm pretty sure I could run the country better than these idiots.
    Merle.............

    ReplyDelete