JC Political Thread - For All Things Political Part 2

[vr94ss]

If you think the ALP generally tax than the LNP you are kidding yourself.

Argue with the numbers.

Great excuse to live beyond your means indefinitely :thumbsup:
Reaper

I see no excuse to live beyond your means in that, how did you come to that conclusion? In fact it's part of the capitalist peace theory. Do you know a country that has had it's debt "called in"? Why doesn't China call in USA's debt? Far more money to be had there. What would be the result?

 

[DAKSTER]

Australia's debt levels are manageable. The 20 billion in change that was left in the kitty was useful, but did nothing to save this country from the GFC. Australia was left in a good position mostly because our banks are heavily regulated and extremely profitable. In the US, the banks were lending 120% of the value of a property!! Of course, that's a bubble that was always going to burst.

That was one of the major contributors to the GFC, along with the American car companies churning out millions of cars that no-one wanted to buy. When huge companies like banks and car manufacturers are allowed to behave so badly, it affects everyone, and in the US at least, they could do so with impunity as they were 'too big to be allowed to fail' so had to be bailed out by Government.

Howard's followers can bleat about how financially responsible he was, but he lead the highest taxing government in history, and gave little in return. Services were cut, infrastructure projects cancelled, infrastructure sold off or not maintained. Yes, he cut the national government debt... the smallest part of the nations debt. At the same time, he reduced the income of Joe Average, whose debt rose as a direct result..

He also started a 'great big new tax' called the GST, the biggest change to the tax system in history. I don't have a problem with the GST, but it was certainly a 'great big new tax'. The population appears to have tolerated it, and they will do the same with Gillard's 'great big new tax'.

Its the solid well regulated position of our financial sector that saved us, not little Johnny. The pots need to stop calling the kettles black.

 

[Reaper]

Australia's debt levels are manageable. The 20 billion in change that was left in the kitty was useful, but did nothing to save this country from the GFC. Australia was left in a good position mostly because our banks are heavily regulated and extremely profitable. In the US, the banks were lending 120% of the value of a property!! Of course, that's a bubble that was always going to burst.

That was one of the major contributors to the GFC, along with the American car companies churning out millions of cars that no-one wanted to buy. When huge companies like banks and car manufacturers are allowed to behave so badly, it affects everyone, and in the US at least, they could do so with impunity as they were 'too big to be allowed to fail' so had to be bailed out by Government.

Howard's followers can bleat about how financially responsible he was, but he lead the highest taxing government in history, and gave little in return. Services were cut, infrastructure projects cancelled, infrastructure sold off or not maintained. Yes, he cut the national government debt... the smallest part of the nations debt. At the same time, he reduced the income of Joe Average, whose debt rose as a direct result..

He also started a 'great big new tax' called the GST, the biggest change to the tax system in history. I don't have a problem with the GST, but it was certainly a 'great big new tax'. The population appears to have tolerated it, and they will do the same with Gillard's 'great big new tax'.

Its the solid well regulated position of our financial sector that saved us, not little Johnny. The pots need to stop calling the kettles black.

That 'great big new tax' called the GST is 100% transparent, predictable and stable. None of which can be said about the Carbon tax. Further to that, it eliminated the disaster that the WST system had become. Anybody remember that gem. One of Keatings biggest hippocracies was demonizing Hewson's GST, which he won the election over and then immediately raised the WST on all sorts of stuff. Not many knew as Sales tax was a hidden tax for most of the consumers.

It's also easy to dismiss debt levels as being "manageable". As much of the world has worked out lately, it easily steps over the line into the "un manageable" category. The problem we have is now a sustained trend of increasing debt. A year or two in the red is ok. Now we are over 5 and at best this year we will tread water, but that's only achieved by cooking the books. Surely a trend of real, small reductions of debt must be achieved. Even the Gillard's own budget papers forcast debt levels to hit $249.7 billion in 2016. Note that we have a debt limit of $250billion.

The problem with the left, is whilst you are all crapping on about how "manageable" it is, and there is nothing to worry about, the national credit card bill just keeps climbing and climbing. Truly, I don't think anybody realizes the urgency of the situation. :bang:

Reaper

 

[twogirlsdad]

Australia's debt levels are manageable. The 20 billion in change that was left in the kitty was useful, but did nothing to save this country from the GFC. Australia was left in a good position mostly because our banks are heavily regulated and extremely profitable. In the US, the banks were lending 120% of the value of a property!! Of course, that's a bubble that was always going to burst.

That was one of the major contributors to the GFC, along with the American car companies churning out millions of cars that no-one wanted to buy. When huge companies like banks and car manufacturers are allowed to behave so badly, it affects everyone, and in the US at least, they could do so with impunity as they were 'too big to be allowed to fail' so had to be bailed out by Government.

The American car companies are forced to build cars no one wants due to US government CAFE (corporate average fuel economy) regulations. These are the higher mileage cars not too many want. This balances out the vehicles that do sell and sell at a handsome profit. Our best selling vehicle is once again the Ford F150 pick up truck followed by the Chevy Silverado. We Americans love our big trucks and SUVs even with gas prices doubling under the current administration. We don't want the sparky cars. If we did they'd sell on their own and not with a $7,500 federal tax rebate along with a state tax rebate of $3995 for $11,495 total incentives. This doesn't include dealer discounts, $249/month lease program or the 0% loan for up to 60 months...and GM still can't give them away.

Insight: GM's Volt: The ugly math of low sales, high costs | Reuters

Chevrolet Volt Sales Redefine 'Failure' - Forbes

Now I think I'll take my Australian made V8 beast for a ride in the countryside while I still can. :rockon: It's still the best car I've driven in my 35+ years of driving.

(Gets off soap box ending rant and heads for garage.)

 

[Shorty33]

Commonwealth Government Debt immediately prior to 2007 election = Zero
ditto, as at last Friday = $252,126million
source: AOFM – Home

so, this government has been getting us deeper into debt at the rate of a $billion a week for five years:
can you you see the benefits ?

 

[Jesterarts]

I hope you lads are not criticising Dillard and her pose! That's sexist!

 

[c2105026]

I delved further into site, got 58 billion at end of 06-07 financial year.....anyway, bear in mind there was BER, batts, GFC, stimulus spending; at the very least we are not the basket case that USA is; nor half of europe for that matter.

I do agree that credit card debt is problematic. I have a low limit and pay it off regularly, and currently have no loans etc. I do not think I live beyond my means, but I see plenty that probably do.

 

[c2105026]

I hope you lads are not criticising Dillard and her pose! That's sexist!

I do agree that the muck raking about Abbott is a smoke and mirrors approach of someone clutching at straws. But as a deeply religious person I would say there might be some sexism/mysoginy (sic?). It happens with the devoutly faithful sometimes. I recall seeing an interview on TV between Bobbie and Brian Houston of Hill$ong. She was so submissive and subservient it made me feel really sad for her. When the news ltd papers reported Mrs Abbotts story I got pretty much the same vibe.

OTOH Gillards partner has completely been pussy-whipped. This is just as sad.

 

[MasterOfReality]

Actually a lot of people I know have credit card debt, and let it sit there accruing 20% interest whilst they go and get other loans for cars, furniture and other **** they need to keep up with next door.

And these people should know better because they are in a position to wipe it out immediately, but shrug their shoulders and profess a blase attitude to personal finance.

 

[ivabiggen]

Commonwealth Government Debt immediately prior to 2007 election = Zero
ditto, as at last Friday = $252,126million
source: AOFM – Home

so, this government has been getting us deeper into debt at the rate of a $billion a week for five years:
can you you see the benefits ?

bludging BOAT PEOPLE, and diggers dying in Afganastan, this is Johnny Cowards legarcy.