Tim Blair

Will that even buy a pint or a pack of smokes in Oz?

$8 isn't enough for a pack of smokes, no. But it will buy you a few drinks.

(homervoice)Mmmmm, tax cuts... (/homervoice)

I'm just not sure how tax cuts fit in with the massive pork barreling going on across every portfolio.

Read the fine print. Labor's tax cut is being funded by an increase in the superannuation surcharge and an increase in cigarette taxes.

What is the top marginal tax rate now? if its less then $85,000 then its not a tax-cut.

I am not sure this is good news if you hold a mortgage. Already PM Howards fiscal expansion in the last budget, largely achieved through tax cuts, has been forecast by economists to spur interest rate rises later this year. If there is more spending, more tax cuts - it can only help to overheat our already overheated economy and raise interest rates further. Our so called "healthy economy" is fuelled by debt - even truck drivers have to sleep sometime - when the speed wears off.

AUS$, right? That's okay, thanks... tell ya what, take the money and sink it in a few more F/A18L's, will ya?

We waited up nights for this? Stone me. Talk about underwhelming.

The federal government spends about $200 Billion a year. Labor is going to cut taxes by $3.5 Billion, which will disappear through bracket creep before you can say "stop spending so much of my fucking money".

You ungrateful bastards! Why, for $8 a week we can... um... , well we could...

D'oh!

We waited how long for this?

I don't know whose economic commentary you are reading, but the economy isn't over-heated. It isn't close to being over-heated. The inflation rate is just about smack bang in the middle of the target range for inflation. The RBA targets the inflation rate (and should stick to that rather than worry about asset price bubbles) and while it is more likely to raise than to lower rates in the near term it is not likely to be a massive increase. Current growth in real wages plus the tax cuts are more than likely to offset any minor interest rate rise.

I hope so Razor - I thought I read that the fiscal boost from the last budget was a threat to interest rates.
As for the economy being "nowhere near overheating" why would Reserve Bank have made the statement recently that interest rates would definitely rise by the end of the year. How can this be so if the economy is nowhere near to overheating? Other pressures I thought were the labour market and rising oil prices. I could be wrong.

This is bizarro world. Yesterday the Liberals trumped Labor with more money on HEALTH. Now here Labor are mocked over.. tax CUTS? What's wrong with lefties saying "it's good to see the Liberals spending more on health" and everyone here (with Tim's initial post excluded) saying "it's great to see Labor looking to tax less". Are you really that partisan?

How on earth am I meant to pay the expected $150 increase in my mortgage with Latham's 8 bucks??

If he ever gets in my taxi I'll be showing him where he can stick his 8 flamin' bucks.

Latham yer wanker ...

Kiss my 8 bucks yer piss weak prick ...

Yer think your so namby-pamby in your silver-stitched suit yer two-bob knock shop dweller ...

8 bloody bucks ... who are you kidding???

Arsehole ...

And don't get ne started on that scary looking prick Emerson ... can you imagine what the kids'll look like if he and Gillard ever start breeding??

J-effing-christ! They'll have faces like the bloody Pyramids!!

At least latham offered tax cuts if you earn under 52K. Howard forgot about you in the last budget and didn't you cry foul. Latham at least offered something!

At least we could buy some more sandwiches and milkshakes.

The thing with the Latham plan, he can promise everything and then decide what hes going to offer. The government is locked into theirs.

I want to know where the 3.5B is going to come from, if the LIbs and their toecutters can't find it, Hows Lacker and Crean going to go, I can see the public service unions jacking up and that will be the end of the economy drive and tax cuts.

All we need is Latham to say the tax cuts are L.A.W and the farce will be complete.

Tinkerbell

Us lower-income earners got our cuts in the budget before last ago. The over $52's were just playing catch-up.

Don't forget that families also got cash sums that were substantial at the same time that the big earners got their cuts.

Short memories must.......

I listened to Latham's `policy' speech this arvo in disbelief as he, time-after-time, told the `stunned mullet media’ in his dramatic `lockup’ that his proposed weekly family payments should only be compared to the government's current weekly payments which should not under any circumstances include an average of the government's annual family payments.

"Look at the tables", "Howard's payments don't exist" he repeated, almost as often as he’s voiced his `rungs and ladders’ drivel and the other silly childish slogans he is so fond of replacing sound argument and policy with.

It seems in Latham's tiny, bully-boy mind if you dismiss a reporter's question with a torrent of head-shaking, falsetto voiced, meaningless tripe the whole thrust of each question will just go away and that his deceitful policy will not be scrutinised.

It might work in bovver boy’s party room but sadly for Latham his big lie is unravelling by the minute.

The only questions he is now being asked about his long overdue `policy’ is why his shabby documents don't contain a true comparison between Labor’s proposed benefits and the actual payments received from the current government.

He and his indignant cronies also continue to duck and weave around the simple question of when they will submit their `sums’ to Treasury for proper `marking’.

Even Labor’s own `Red Kerry’ O’Brien couldn’t stomach Latham’s dissembling.

Latham’s `tax policy’ looks like a bullet in the foot – nay, a burst of automatic gunfire into both feet!!!

Gibbo - you could probably buy one and a half sandwiches and a milkshake.

"Ease the squeeze" - wasn't that an AC/DC album from the mid 80s?

$8 per week? What bizaar units - I want my $0.000013227 per second reduction!

I appreciate your thoughts Ron but 1 sandwich wouldn't sort my fat gut out for morno's, let alone the main course. I actually witnessed the ALP being savaged over this shit on the ABC tonight. Unprecedented! Not even the "true believers" are willing to swallow this shit. Is Latham truly telling me, the genuine swinging voter, that this is all he has. He made me wait from May for this trivia?
Sorry mate. John Howard for me!

Grow up or get out of the way!

Jeez!! Is that it? You know the wheels are gonna fall off this one big time. You know why? Coz Simon Crean would be Treasurer. I would not trust Crean with running my kids Anzac Biscuit charity promotion for fucks sake. I seriousy doubt the guy is even numerate. I heard that Crean is so dumb that his lips move when OTHER people read!!

Simon Crean would be Treasurer. I would not trust Crean with running my kids Anzac Biscuit charity promotion for fucks sake.

Exactly. That's the thing for me. Latham is bat-shit crazy, no doubt about that, but with a talented ministry I could handle it. Unfortunately...

I liked his ideas about getting people off welfare dependence.Unfortunately with Labors Industrial relations policy he will shrink the economy and deprive the welfare people a chance of a job.

The ALP policy will reduce the contributions tax on superannuation from 15 to 13 per cent giving $1.3 billion to ‘ease the squeeze on middle Australia’ over the next 3 years.
But they will also abolish the superannuation co-contributions scheme, clawing back $2.6 billion from ‘the great backbone of our nation’ over the same 3 years. Plus there's a whole raft of other superannuation 'improvements' designed to move money in one direction and that’s not toward the backbone.
Smoke and mirrors.

Check the fine print!This is the "Aspirationals Overboard" tax policy.

At least you have a tax cut war going on. In Bizarro-America one party is running on raising taxes.
Sometimes I wish I was born Aussie. And not just because you have better beer.