Tag: Debt

The 2017-18 Federal Budget: Taxing Our Way to Prosperity

Every year, the government seems to make it harder to really see what it’s doing with our money in the budget – whether by renaming things, requiring an extra click or two to access various papers or simply by the tried and true method of burying its sins deep into the treacherous abyss.

TMR refuses to be beaten.

If you want simple, no-nonsense budget analysis that can’t be found anywhere else, read on.

All figures have been sourced from the official 2017-18 budget papers and are presented so that you can form your own opinion.

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Our Debt Has Chosen to Identify Itself as Good

I wonder what my bank would say if I asked them to have more patience with my ‘good’ debt?

Seriously, what drugs are Scott Morrison and this Liberal government on?

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Demolishing the Education Revolution

Not long ago, The Marcus Review provided a list of 18 key Labor spending decisions which largely contributed to our $400 billion loan.

Today, Nick Cater provides an all-too-typical footnote to No. 6 on the list – the $20b ‘Education Revolution’ ($16.2 billion of which was committed to ‘Building the Education Revolution’). Read it and weep:

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The 2016-17 Budget – Where’s all Our Money Going?

If you want simple, no-nonsense budget analysis that can’t be found anywhere else, then read on.

All figures have been sourced from the official 2016-17 budget papers and are presented so that you can form your own opinion.

For some fun at home, try to guess which spending item scored the biggest percentage increase. I promise you’ll be unpleasantly surprised.

Continue reading “The 2016-17 Budget – Where’s all Our Money Going?”

What Did We Get for Our $400 Billion Loan?

Now that it’s budget time, it is important to properly understand how our federal finances became so shambolic.

Those who have followed The Marcus Review from its humble beginnings (thank you all) will be familiar with this material – which is well worth re-reading might I add. For those who haven’t yet read it: grab a coffee, sit down and see the scandalous waste for yourself.

If you’re one of the 50% of people in our society who is a net tax payer, then never forget this: it’s your money that they’re spending and they don’t spend it anywhere near well enough that you should be donating extra (may you rest in peace Kerry).

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Growing Pains

This was Bill Shorten on the ABC’s 7.30 program in December 2014:

What I agree is that for Australia to have a bright future, then we’ve got to go for growth. And the way you go for growth is you spend money on skills and training and higher education. You make sure that you have a system where the infrastructure is being built and it’s working…

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Strange Bedfellows

It appears that Malcolm Turnbull and South Australian Premier Jay Weatherill ideologically have a lot more in common than most would think… and every bit as much in common as some would.

Here is Weatherill following today’s COAG meeting:

South Australian Premier Jay Weatherill, who proposed the income tax sharing idea, said Australia had a revenue problem that would not be fixed by one change.

“We don’t raise enough taxation as a nation to meet the imperatives that we have,” he said.

And here is Turnbull:

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Editorial – More Taxes Won’t Fix the Budget

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It’s an absolute pleasure to have the current political conversation flatulating around the edges of the government’s revenue sources – and the get-rich-quick schemes that could be used to extract more money out of us. Meanwhile, $40 billion annual deficits are still being cranked out (see also above graph) and our $400 billion debt will be added to for years to come.

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Editorial – Turnbull’s Twisting in the Wind

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Malcolm Turnbull’s justification for replacing Tony Abbott was that he could provide better economic leadership. Six months on, how much longer should we have to wait for the evidence?

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Editorial – Turnbull Encourages Business Fraud

As part of Turnbull’s $1.1 billion ‘everyone put your thinking hats on’ plan, the bankruptcy period will be reduced from three years to one year.

The bankruptcy system is already a government created fantasy which allows people to recklessly stink at business (or swindle other people’s money), hide the loot, take a bankruptcy breather for three years while the ‘official’ assets are handed out at cents in the dollar – and then get straight back on the horse again like nothing ever happened (or simply retire to Mallorca, take your pick).

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