Federal budget 2015-2016

[slothpomba]

Here is a good summary of the "winners and losers". A budget cheat sheet is here.

I don't think it's a good budget but i don't think it's a bad budget. I say this because it doesn't have really many items of substance. It's a fairly benign budget and i've heard it discussed as a budget on "autopilot".

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A lot of the worst cuts and provisions still linger from the last budget. Things like university deregulation, whilst not mentioned in this budget, is still being pursued.

By putting the budget on "autopilot" it will take longer to pay back the deficit. For all the shit Hockey gave Labor over borrowing and the deficit, he himself is perpetuating it and relying on borrowing to keep this budget going.

The income side of the budget is almost totally ignored. We could rake in billions of dollars if we considered a few simple measures:

• Chasing tax avoiding foreign companies. Apple pays far less tax as a percentage than you do through complicated and shady financial arrangements. Most big companies do it and it needs to stop.
• Taxing the superannuation of the mega-rich at a fair rate. Whilst similar at lower income brackets, the difference between tax on super and tax on income is large for the rich. The rich avoid paying significant amounts of tax by redirecting their money to superannuation (which grows with investment as well). They should pay a fairer tax.
• Eliminating negative gearing

[chasej]

I haven't been bothered to read much about this year's budget yet. But something that's seemed quite off to me is saying parents are 'rorting' the system, by claiming benefits they are entitled to.

If there is an argument for removing a payment, the government should at least establish their reasoning and not try and use cheap political tactics to sneak it through by denigrating people who are just doing what they are legally (and morally?) entitled to do.