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'ANTI-INFLATION BUDGET'
Wednesday, 14 May, 2008Budget 08 minisite
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WHAT DO YOU THINK?
Do you think this budget will benefit Australia's economy? While the opposition claims the budget is high-taxing and high-spending, several economists have labelled Labor 'a fiscal conservative'.
COMMENTS
First [1] LastRobbing Peter to pay Paul is the fundamental principle of all budgets. What governments like us to ignore is that every family above the average family wage are Peters and everyone below the average wage are Pauls. What annoys me most is the very public face of "alleged" empathy for ordinary hard working mums and dads who are suffering from higher interest rates, higher food prices and higher petrol prices. I think most "Peter" families rightly pay higher rates of income tax but most are at least, equally hard working as "Paul" families. The vast majority of "Peter" families don't take home wage packets the size of the C.E.O of Telstra, but that hasn't stopped them being slugged in this budget. My crystal ball says 2009 , 2010 , 2011 will be the same
Yes. It's about time we were all weaned off the expectation of tax cuts every budget. That's just a blatant bribe to voters. This seems a forward-looking, sensible budget.
On the face of it this budget does seem to be thinking of the bigger picture for Aust. Currently living in the US, and they are certainly not. Knee jerk reactions all over the place. No budget will please everyone.
No. This budget is designed for dual income families and single mothers. Anyone outside these parameters has been ignored, my sympathies go to pensioners. The ABS has just announced that the average wage is now $58455, that leaves pensioners to subsist on about 20% of the average wage, this is heinous. The Medicare move will further disadvantage the disadvantaged. I noted that the inflationary increase in diesel and increased truck registration costs were implemented well before the Budget. All signs are that this Government is seeking a reputation for being monument builders at the expense of the Australian voter.
I’m pleased with the overall budget because it is showing fiscal restraint on the part of the government. It is a pity that the Labor party was wedged into matching Howard’s election sweetener tax cuts last year because tax cuts do not help inflation. Faced with breaking an election promise I guess they were obliged to do it. I think reining in the junkets offered to the rich is a good move, why should millionaires get the first home buyer grant, baby bonus etc.? They can say they worked hard to get where they are but the fact is that the society will always want to have a lot of people in low paid jobs so cheaper goods can be maintained. Naturally those on low incomes will be more in need. (I’m not talking about the clichéd shock jock’s ‘bludger’). The rich choose between two expensive brands of exotic cars while the poor just need a car, any car. At the same time I’m disappointed that the cut off for the solar panel rebate will be 100K. That is not excessive (combined) income in today’s Australia. Overall I’m pretty horrified by many people’s responses to the budget. It seems they have gotten used to Santa Clause (John Howard) turning the budget into ‘gift time’ to win favour. They prefer a paternalistic figure so they can get presents from daddy and not have to learn about how the economy really works. Only thinking about what ‘you’ will get in direct gifts from the budget is a pretty selfish and childish attitude. Lowering inflation is extremely important for Australia at the moment and I think the government has done its best to address this problem.
Yes, finally a budget doing something for Australia's future!