I see on the TV this morning that there is a possibility that Labor may win the Federal election. I haven’t really been listening to Latham’s wild remarks but I think I better start. Is this the blip on the radar that we have been looking for – this could be the trigger for recession in this country? Did he also mention abolution of negative gearing? Hold on tight – we may be heading into choppy water…. what do others think? Possibly rising interest rates, a labor governement, abolution of negative gearing, a credit balloon – is there any good news?
I agree Ausprop
Look at the link below.
http://www.smh.com.au/articles/2004/03/09/1078594332606.html
I find it intersting that this story ‘broke’ this morning but it is towards the bottom of the website’s current news. I wonder if John Howard had said they were going to raise taxes, where the article would be located?
I think that if all that Mark Latham has said he will do is done, then great, but where is all his billions of dollars of funding going to come from?
Oops I just answered it with the link above!
‘Eat rich food, barbeque a yuppie’
Would like to understand what and where the $5billion of waste is??
James
[8]I have booked a one way ticket, passport updated….just in case[V]
Interesting tactic to come out and say that there will be some tax increases (inevitable). In ‘Yes Minister’ speak, this is a courageous move.
James
Originally posted by georgisj:Would like to understand what and where the $5billion of waste is??
James
where does one start?
Having contracted for a time in a govt treasury department I can honestly say the legends are true. There are still govt departments that fit the old sterotype of lotsa cash, overstaffed and undermanaged..
A lot of waste out there..
EZ-Rent. The free tax and cashflow simulator for Australian property investors.
http://www.ez-rent.comIf the Labour Government got in and proceeded to weed out all the useless staff in every government department I would be the first one to say good on them. I agree there is a lot of waste in those areas.
But I cannot see that the unions would allow a Labour Government to shred thousands of public service jobs. I think you would also find the payouts would be equivalent to 2 or 3 years of wages too.
Hey, any government that culls rarely used, useless and overpaid staff is allright with me. I love seeing stories on A Current Affair about public servants being paid $100,000 to sit at a desk playing computer games because they are on a contract….not!
‘Eat rich food, barbeque a yuppie’
Hey,
Historically the Public Service expands under a Labor Govt… Ask any Canberran who they vote forSpider
WayneL – how about you start with something. Anything at all…
There is no way that Labor will abolish neg gearing – certainly not in a first term (and probably not for the forseeable future).
I think this Latham guy is an absolute joke, Can anyone really see him representing Australia on the international stage?
God help Australia if Labor get in! I don’t believe he will do half of what he says and if he does it will be Paul Keating all over again, country goes into huge deficet then it will take a liberal government to get us out of it again.
His tactic are very good though I must say, he is certainly pulling on the right strings. MP’s super etc.
Jarrod
Originally posted by Rubbachook:WayneL – how about you start with something. Anything at all…
Nah, I would make myself very unpoular with some here. (But I’ve probably already done that elsewhere[
])But let’s just say that an unacceptably high proportion of government spending I consider to be electoral bribery.[V]
Cheers
wayneL,
I’ll see your ‘unacceptably high proportion of government spending I consider to be electoral bribery’ and raise you, ‘all government spending for what ever reason has a political driver’ behind it.
Thats’s why goevrnents find it hard to give back benefits without some corresponding quid pro quo.
James
I would love a government to cull all the dead wood in the public service, but it doesn’t happen.
If packages are offered, only those who were retiring anyway, or know that they can get a job elsewhere put their hand up. So all the productive people leave, and the dead wood remain, and all collect together.
In my workplace (former, as I am unemployed as at 1700 today [
]), I reckon more than half the people are dead wood. About a quarter of the rest do enough work for 3 each, and the others bitch about having too much work to do. If only they could all pull their fingers out, twice as much could be achieved with half the people, and the excess could be redeployed where they would be useful…..My 2c. Although I’ve got to watch the pennies now….
Cheers
MelMel sorry for you
THE REST!!!!!!!!!! come on guys and gals! the public servants i work, work friggin hard and get jack shite, mind I agree they can dump the 100k a year losers and the bonuses!!! maybe a free car of two, better still dont hit the battler worker that cops the front line abuse, start at the top and work down. top heavy…..travel rorts, spouse travel gold cards, secretaries, offices…
oh who started me? I’m looking down the barrel of no job too….maybe not so far away. i am super productive, and have gone to leave many times because we cop it from everyone….and for what we do we dont get paid like the private sector…
im not going to debate this anymore though and yes i have been self employed, also worked for others and been a govt employee…
my choice at present while i picked up the pieces…
elves
im in conflict
as an investor i prefer libs
as a worker i prefer labOriginally posted by wayneL:Originally posted by Rubbachook:WayneL – how about you start with something. Anything at all…
But let’s just say that an unacceptably high proportion of government spending I consider to be electoral bribery.[V]
Okay, so your point actually has nothing to do with any political party in particular then…
What is your point?
As I see it, history generally repeats and Australia generally follows American trends. The U.S abolished negitive gearing in a massive tax law reform in 1986 and the result was an unprecedented property market crash. However, we/I, as investors must be willing to prepare for any market movement beit up, down, sideways, boom or gloom.
In 1986 in the U.S, the astute property investors were right amongst the mayhem and panic with strategies firmly in place and preparing to turn a profit.
There were some consulation in the 86′ tax reform act whereby homeowners could claim deductions on mortgage interest. However, what the Labor Government has in mind with any tax reform is anyones guess including the Labor Government.Regards
sykesbuild
‘Think and grow rich’
‘Napoloen Hill’Hi
“Mr Latham said Labor had identified about $5 billion in government waste that would be used to fund some of its spending commitments.”
The Gov’t waste is not necessary in people resources.
It can be thru ineffective spending on programs.
I await the day when someone will have the guts (another Pauline Hansen perhaps !!!???) to start telling the truth about many programs.The are so many schemes, $, goodie advisers, philosphy jerks out there that for years have been pouring $ in to for eg Aboriginal Affairs. The public would be absolutley astounded to learn the $ thrown in this direction. I wonder just how many organisations are receiving funding and for how many programs that overlap, are uncoordinated and in effective.
What we really need is the basics for everyone – teachers in schools, a basic health system and police on our streets, basic accomodation for the needy, etc.
Dont get me started either …!!!
Regards
“Do not follow where the path may lead. Go instead where there is no path and leave a trail” Ralph Waldo Emerson
seems strange though that with the economy running better than it ever has that we are about to embark on a gamble with an unkown factor. happened with the libs in WA too, finally we had paid off the debts that labor clocked up in the 80’s and we were getting back on our feet, and then for the sake of a $12m bell tower (which wasnt very popular, but is actually one of the few tourist attractions in Perth) there was a change to labor again. their first move was to scrap $800m worth of train engineering and designs and plan to rip up a freeway which has only just finished being built. now with huge upside of risk labor has signed the state up to a further $1bn plus rail program knowing full well it wont be around to pick up the pieces. I am not aligned to any party, but economic prosperity is important to me. I hope that before the election we get to see some details of all these tax reforms. It can only be fair that if neg gearing is to be abolished that we are at least given the courtesy of a decent warining period. Can anyone recall how quickly it happened last time?
])
]), I reckon more than half the people are dead wood. About a quarter of the rest do enough work for 3 each, and the others bitch about having too much work to do. If only they could all pull their fingers out, twice as much could be achieved with half the people, and the excess could be redeployed where they would be useful…..
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