And another thing

I didn’t watch the Budget speech.

So much has been strategically leaked to the press in the last week that we must know it all anyhow.

I seriously hope a few things will be changed:

- Age discrimination in tax rates. Why is it that people over a certain age can have a take-home pay of over $65K per year and pay zero tax? Us working mugs subsidise this. Thanks Mr Costello for that one – buying off the grey vote. Needs to be undone.

- A new higher tax rate for the ridiculously high income earners. Perhaps a new marginal rate of say 55% cutting in a about $500K.  And then a rate of 65% cutting in at about $1M. This will be a big disincentive to offering stratospheric salaries to all those CEOs whose pay has gone ballistic over the last few years.

- I don’t really care much about the Medicare safety net. But the private health insurance rebate (much hated by the socialised medicine lobby groups) should stay UNTIL the government can get the cost of health care rises to equal inflation. Seeing as much of the cost of health care is payingthe health professionals, this means containing the incomes of the medical profession.

- It would be nice to see the first-home-owners-bribe getting a phased reduction. Maybe not elimination – I can’t ask for that, this would be hypocrisy. After all, I benefited from a simialr grant back in 1987. Mine was for $1000, mind. So paring back the current grants of something crazy like $25K would be a good move.

- Some of the defence spending (which is all money going overseas) is just crazy. Defence has had above-everyone-else budget increases for years. Time for a bit of a look at where all those dollars go.

- There’s much ado about middle class welfare. Perhaps a little surgery in the land of upper class welfare would be a good thing, too.

3 Comments

Very well said. I found myself reading and nodding in agreement throughout all of this.

Comment by Kath Lockett | May 13th, 2009 7:39 am | Permalink

I haven’t bothered to read or listen to anything about the budget. I earn very little, don’t qualify for any benefits, and am not yet eligible for a pension. Even my super isn’t very large. so i don’t think I’ll be affected at all, just like the last few budgets.

Comment by river | May 13th, 2009 5:46 pm | Permalink

One of my pet hobby horses is the way in which home ownership is subsidised in Australia. I mean, what does a home do except provide you with a place to live and a huge mortgage. If investment in business was subsidised to the same extent, we would have small businesses booming and that millstone around your neck [aka as a home mortgage] would be minimal. Instead, successive governments dating back to the first Hawke/Keating government of the early 1980’s have encouraged people to increasingly buy or build larger and larger houses that are meant to impress the family/neighbours/friends/business partners etc. But as soon as the house is completed, it becomes a depreciating asset and has to be painted, repaired and PAID FOR until you sell it or shuffle off these mortal coils.
Now I mean, what kind of a business investment is that.
Sadly the current Government is showing no signs of discouraging ‘the great Australian dream’.
The rest of the world certainly is not going the way of OZ.

Comment by Dad | May 13th, 2009 8:03 pm | Permalink

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