Do we really need a tax cut? - Page 3

acropolite (Phil) · #41 22-01-2008, 09:46 PM

Tax cuts are unnecessary when we don't have enough to spend on health or education. Corporate welfare (google if you don't understand it) in the form of MIS schemes etc, at the expense of a failed health and education system is IMHO criminal.

duncan · #42 22-01-2008, 09:49 PM

I agree with you to a point. So tax the crap out of those who earn over 1mill a year. How greedy can you get. No-one is worth $14million a year.(Bank CEO's)
Cheers,
Duncan

xelasnave · #43 22-01-2008, 10:08 PM

Quote:

Originally Posted by acropolite

Tax cuts are unnecessary when we don't have enough to spend on health or education. Corporate welfare (google if you don't understand it) in the form of MIS schemes etc, at the expense of a failed health and education system is IMHO criminal.

I looked it up.

I was wondering why our education system is the way it is.
One would think it would be the best investment that could be made yet you have to pay.. I mean Uni is not cheap .. all I can see with Uni is it is regarded as an export business rather than what it should be ..education.

I read someplace that we are a major exporter of education ..what a way to see education..an export.

AND what better investment in a Nations people than looking to their health... It should take priority over adds telling us how good the Government is one would think..which is really a form of corporate welfare ..what a way to channel money to your mates...

Every now and then some fool comes up with the newest economic rationalism and gets his ideas into fashion and we get stuffed...what fool said it was best to sell all the real estate in Canberra and lease it back... I think they want prisons owned and run by private companies.. thats not Government that is abdication of responsibility.

AND what happened to free milk in schools anyways? Was that not a wonderful thing to do for kids... well would I be stupid to suggest that the folk who benefited most by that removal may have been the soft drink companies.

alex

space oddity · #44 22-01-2008, 10:10 PM

Tax cuts are not needed at this time of the economic cycle. With an economy running supposedly at capacity(strange that nothing seems to be made here in Aus) the extra money sloshing around will merely stimulate inflation. Interest rates will wind up rising again as a result of this- more mortgage pain. Even the retirees will not gain - inflation will downgrade the value of their principal. Typical politicians - making promises they have no intention of keeping, just to get power

. Realistically, tax cuts should be made in better ways, eg to stimulate the middle classes to be able to afford to have quality kids-the type that might get in to astronomy. The current system discourages those with a work ethic having kids and encourages bludgers to have kids(the $5000 baby bonus buys plenty of beer or a few weeks worth of drugs

) Please remember, the kids with bum parents are likely to become bums themselves. This next generation will suposedly be producing goods and services that will maintain OUR living standards in retirement. If they are a pack of bludging bums, WE will have to work much longer for a shorter retirement and LESS time for astronomy

. And who says this thread has nothing to do with astronomy!

timelord (Al) · #45 22-01-2008, 10:10 PM

Guys it's all an illusion--If you recieve a tax cut then the various institutions like banks and utilities will raise their charges or interest rates figuring we have some extra money that they can bleed from us, take the example of the first home buyers grant--as soon as it was anounced the real estate agents put up the price of every property for sale by the corresponding amount virtually the next day! net result nill for the recipients and more profit for the money grabbers, it really is all smoke and mirrors.

xelasnave · #46 22-01-2008, 11:05 PM

Well I think the world economy is in melt down as we speak

... can hear the news in the background... so that will take care of the inflation maybe

.

I think the problem has more to do with the resolve of the Government to fix what it should fix..I have little doubt that with or without tax cuts spending could be adjusted to better meet the real and pressing needs of health and education... and confronting the growing problems re energy and make some hard choices.

Timelord I saw first hand what you speak of with a particular hand out..it was needed but somehow the publicans ended up with most of it... which when you think of it is a recycling of the tax dollar given the tax on booze.

Is the news really bad market wise? I must have a look... hope my comment that things are only 25% of theri listed value has not got out

AND history says if real bad we must have a major war unfortunately

alex

xelasnave · #47 22-01-2008, 11:17 PM

ICAP chief economist Matthew Johnson said he was surprised over the continuing losses, which were higher than expected

"You don't want to be the one catching the falling piano."

What a line

alex

duncan · #48 23-01-2008, 01:34 AM

Hey Alex it sure does seem to be taking a nose dive. Just checked the satellite picture. Only another hour and i should get to see the moon.

Cheers

Starkler (Geoff) · #49 23-01-2008, 10:41 AM

Aus stock market 20% down from its November high point I heard last night.

Biggest losers are those about to retire. Are they really losers? Was the value at the high point something real or just illusionary? My head hurts.

xelasnave · #50 23-01-2008, 10:48 AM

From the news

The US Federal Reserve on Tuesday slashed a key interest rate by a hefty three-quarters of a percentage point, the biggest cut in more than 23 years,

How low can they go?
not much

and that is the real problem

.

alex

xelasnave · #51 23-01-2008, 10:59 AM

Quote:

Originally Posted by Starkler

Aus stock market 20% down from its November high point I heard last night.

Biggest losers are those about to retire. Are they really losers? Was the value at the high point something real or just illusionary? My head hurts.

There are losers.
Companies will go to the wall hard working folk will loose their jobs.
The way it works is a company sees it has an income flow so it borrows more money rather than paying off the loans it already services.
The creation of corporate wealth is very much an illussion however for oridinary folk who suffer when the stuff hits the fan is unfortunately very real.

I do not consider the buying of a company ..then laying off some of the work force..there by improving the bottom line to justify a recapitalisation to be weath creation..(so many companies kid themselves this way ..efficiency is a given not something to claim they are richer) however the numbers say the company is worth more..short term maybe but in fact the company is worse off..and those chickens are now coming home to sit and cluck.

It will be interesting to see how th market responds..if it picks up it only puts off the day of reconning simply because the system I suggest as being the norm will still go on...

Now is the time to ask your land lord for a rent reduction or your mortgagee for a lower rate.. they now need you not the other way about.

Still it is hard to stop a charging bull (or bear) with reason as your sword.
alex

xelasnave · #52 23-01-2008, 11:04 AM

Quote:

Originally Posted by duncan

Hey Alex it sure does seem to be taking a nose dive. Just checked the satellite picture. Only another hour and i should get to see the moon.

Cheers

Duncan now you will see you are better off than you think

..your value is there and it costs little to enjoy it.
The secret of life is to go broke slower than the rest. It is all relative you will loose little other than what the weather will take from you.
alex

fringe_dweller · #53 23-01-2008, 12:26 PM

*yawn* and surprise surprise the market rebounds to its old self, for the second time in recent weeks - me, i put my faith in the 400 million new millionaires in asia - bout negates the US problems

sure is some distasteful stuff written amongst these lines, funny I remember an australia where people werent obsessed with money, and class - what happened? did i miss something?

cahullian · #54 23-01-2008, 10:55 PM

Fix the schools and the hospitals before putting money back into peoples pockets is what I say.

Gazz

duncan · #55 23-01-2008, 11:00 PM

Hey Alex,
Guess what!?
I stayed up till 5:30am and the cloud didn't dissipate.
Like you said though it is all relative, I did have fun on the puter.
And the missus is up in Normanton for a week (6hours away),LOL.
Batchelorhood is great sometimes,LOL

Cheers