Say what?

Here is Peter Costello explaining Tony Abbott’s broken tax promise:

he increase in the top marginal tax rate has sailed through the Parliament with Labor support. It was the largest revenue measure over the forward estimates, but as a political measure it has not been successful. The idea was, so it was said, that if the Liberal Party compromised one of its core principles and supported higher income taxes, then the Labor Party would compromise one of its core principles and support lower spending. In fact no such thing has happened. The tax increase has gone through and the expenditure reductions are facing stiff opposition. Higher taxes have not brought any lower spending.

He seems underwhelmed by the logic.

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38 Responses to Say what?

  1. wreckage

    Well FUCK. Who could have seen that coming? WHO?

  2. Gab

    the Labor Party would compromise one of its core principles and support lower spending.

    Ahahahahahahaha. Only an idiot would believe that!

  3. wreckage

    *SOB* come back Pete, please, please come ba-a-a-ack! *sob*

  4. Infidel Tiger

    Everyone with a brain has just changed their pay structure for the years ahead.

    Rock solid prediction: They will generate less revenue as a result of the Wealth Tax.

  5. Marko

    The French lost billions by increasing the top tax rate…

  6. incoherent rambler

    Tony, for half of Credlins salary, I promise I can get the polls back to 60-40 in your favour.
    Contact me via Sinclair.

  7. wreckage

    Hell, contact SINCLAIR via Sinclair. Try the guys who run Cafe Hayek for an actual, principled, point-by-point defence of what Thatcher called “What we believe”.

  8. Spider

    As predicted. The tax put in place to appease the Left wins no brownie points whatsoever and all that is remembered by everyone are the lies.

    I will say it again I HATE with a passion that the Libs lied because it puts them in the same camp as the bloody lying Greens who would tell any fib no matter how big to promote a cause.

    And now I have limited comeback when I attempt to contradict some looney greens fallacy. It’s oh well well the Libs lie too or whatever it takes. Ugghhhhhhh!

  9. Habib

    What logic? There’s things lying on their backs on the bottom of ponds who wouldn’t make such a clearly imbecilic assumption.

    I know I’d be dissapointed with this government, I had no idea just how much I’d be. Time for a split in both majors I feel.

  10. MartinG

    Gab
    #1382666, posted on July 15, 2014 at 6:41 pm

    the Labor Party would compromise one of its core principles and support lower spending.

    Ahahahahahahaha. Only an idiot would believe that!

    Cue Tonny the idiot Abbott.

  11. MartinG

    Cue Tonny the idiot Abbott.

  12. You’ve lost me, Tony.
    If this whole episode is an example of the the Liberal party and its hundred year store of political acumen, then damn you for raising our political hopes.

  13. AH

    Strawman from Costello. Why assume that the stategy was as Costello says?

  14. Well done you incumbent douchenozzles, increase taxation and increase spending thats a winning stratagey.

    Just shoot me.

  15. entropy

    We don’t have to assum anything.Norman was explicit on its purpose.

  16. AH

    @entropy quote from Cormann?

  17. entropy

    Sorry.

    We don’t have to assume anything AH. Corman was explicit as to why the tax was being introduced.
    The Cats called him an idiot, because this would be the outcome, and they didn’t listen.

  18. AH

    I know, but I was wondering if you had a reference to where Cormann laid this out?

  19. Rob MW

    “The increase in the top marginal tax rate has sailed through the Parliament with Labor support.”

    Do the socialist millionaires and other assorted trough dwelling super rich cronies have better accountants than other ordinary capitalist, non-trough dwelling millionaires ? If they do then there is something to whinge about otherwise, who the fuck cares ?

    Graeme Wood, for example, being a classical socialist millionaire should be more than happy with any top marginal tax rate increases…………but only after fully tax deductable not for profit donations are accounted for, like let’s say………….to the Greens.

    Socialist millionaires, just like ordinary capitalist, non-trough dwelling millionaires, support a very important industry which I call the ‘Minimisation’ industry, an industry that I support 100% and an industry that every Australian has a duty and moral obligation to support regardless of tax bracket.

    Sorry Sinc…….but the wheels of a free-market society must oiled by whatever mean possible including the notion that (quote) – “I am not evading tax in any way, shape or form. Of course, I am minimising my tax. Anybody in this country who does not minimise his tax wants his head read. I can tell you as a government that you are not spending it so well that we should be donating extra.” - Kerry Packer

  20. entropy

    Central to the government’s thinking has been the contention that it is impossible to withdraw benefits from those who do not receive them, making a tax increase the only way to ensure wealthier Australians carry a burden equivalent to poorer people.

    from the Australian

  21. MartinG

    If Abbott cant get from the senate what he needs then he should go feral. Renege on every funding promise and start starving every nonessential department of funds. He could start with The Human Rights Commission, Equal Opportunities Commission and the ABC. Give unto the states what is theirs like any funds made available via the NDIS and tell them it must be spent on health, same with education.

    Do what ever it takes to balance the budget that doesn’t need sanction from the senate.

    The LNP can’t get any lower in the polls than they are now so they should start kicking a few heads.

    Tony Abbott has got no balls nor perhaps has the party. They should tell him to balance the budget or get the fuck out of the way and put someone in who can.

  22. How anyone could confuse this lot with the minimum tax, maximum freedom Liberal Democratic Party is beyond me.

  23. Rob MW

    Opps – “……must *be* oiled by whatever mean*s* possible……..”

  24. candy

    The government has tried to initiate a budget of fiscal restraint that affects every level so as to be equitable.

    The upper levels despite the wealth tax, and yet expect the low income to accept a change to their income/entitlements without fuss.
    The welfare class expect the “wealthy” to pay for everything without fuss.
    It looks an impossible situation.

  25. candy

    Sorry – “despise the wealth tax” not “despite”.

  26. MartinG

    candy
    #1382889, posted on July 15, 2014 at 9:02 pm

    Sorry – “despise the wealth tax” not “despite”.

    It doesn’t matter how thoroughly I proof read a longish post, I always spot a mistake after it’s sent. The last one was “cant” instead of “can’t”. It could have been worse I suppose.

  27. Clam Chowdah

    It’s the same sort of pandering to the left that the LDP is toying with.

    No, no, guys, trust me, this time it will work. They’ll respect us for our compromises and be willing to muck along.

  28. WhaleHunt Fun

    Just tell the Greens they either pass the budget or the Dept of the Environment will be utterly and completely de-staffed. Zero, nil, none. And farmers and shooters will do as they please, the miners will rip up the Barrier reef to get at the oil and so forth. Stop pussyfooting around and let them know you will devastate and prostitute every single thing they hold dear unless they drop their trousers on command. You don’t negotiate with scum, you terrify them, and when they comply, you double cross them and carry out your threats anyway. Only way to deal with the scum.

  29. outsider

    ‘he should go feral’
    Not in his makeup unfortunately, because governing for all (the moochers) is far more important to ‘turn the cheek tony’. On the tax, plenty of French millionaires on the other side of the Dover cliffs these days.

  30. Toiling Mass

    Increasing taxes gets Labor and the Greens excited and licking slavering lips.

    Why would you expect higher tax would put them in the mood to lower spending?

  31. dianeh

    Why were the tax increase and the spending cuts not put up in the same bill?

  32. .

    Clam Chowdah
    #1383077, posted on July 15, 2014 at 11:11 pm
    It’s the same sort of pandering to the left that the LDP is toying with.

    No, no, guys, trust me, this time it will work. They’ll respect us for our compromises and be willing to muck along.

    You’re out of your mind. The LDP isn’t pandering to anyone you halfwit. The LDP want a flat 20% tax rate.

  33. goatjam

    Honestly, these morons act like the Liars Party have just arrived on the political scene. Have they not been taking notes on their modus operandi over the last 50 years?

    Even if they’ve forgotten how Labor operates, they have got stellar current examples of what happens when you abandon your political base to try and appease the left in the disasterous O’farrell and Bailliue governments. Were they asleep while that was going on?

    They need to dump Abbott (and by extension Credlin) and try to regain their credibility before the next election.

    If a DD election is held under the current leadership I honestly don’t know how I’d vote.

    This pathetic lot are not worthy of my support.

  34. dan

    “the expenditure reductions”

    There are none! Spending is going UP! FFS

  35. Aussiepundit

    They need to dump Abbott (and by extension Credlin) and try to regain their credibility before the next election.

    no, no, they should keep Credlin! She’s made some mistakes but has had a bit of practice now and is sure to get it right with the next guy. Or the one after that. Whatever. She’ll get it right eventually. Just give her time.

  36. Aussiepundit

    It should also be kept in mind that Abbott/Hockey/Cormann are not predicting a surplus in the life of this parliament. So I don’t know what the point of all the political pain is, if not to balance the books. Because the books aren’t balanced.
    At least Swan had a surplus as his objective, even if he never achieved it. AHC aren’t planning on delivering a surplus anytime before the next election.

  37. Shauno

    Dump Abbott and put Barnaby in charge for a while should provide a few belly laughs and piss the greens off.

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