Well the Government’s response to the Henry Tax Review has been released and even Ruddites like David Koch from Kev07’s public relations program “Sunrise” seem annoyed by the way the report is basically being shelved. Suddenly the business media has woken up to the fact that Rudd and Swan are economic dills, but as reader’s of this blog will be aware I have been warning about what these two would do to the economy for years.
What has surprised me the most over the last few weeks has been the inability of most business and financial reporters and analysts to predict what would actually happen to the Henry Taxation Review when it was finally released. For days they wrote excitedly about what the Government’s response might be and waited with baited breaths to hear from Wayne Swan about his reform plans.
But way before the report was even released I wrote about what we could expect late last year in: Ken Henry and his tax review: should we be worried?. In that article I wrote:
” Personally I think the tax review will end up being an expensive way to churn out door stoppers and although I don’t doubt a lot of good ideas will come from it, I do doubt that most of them will ever be implemented. “
Now isn’t that exactly what has happened? Most of Ken Henry’s recommendations have been parked (shelved) and the report is now probably filed next to the Australia 2020 Summit binder.
So unlike the self anointed business and finance experts in the mass media I was not eagerly waiting for the Government’s response to the taxation system review because I knew their response would be a dud, just like their responses have been in most other policy areas.
I also made this comment in January this year about Henry’s report:
“The best we can hope for as a consequence of this taxation review and the Governments meddling is that the few changes that will be made won’t cause us many problems. But my feeling is that we should brace ourselves for the review to turn into a revenue raising exercise. (the Government debt will need to be paid down somehow)”
Once again I seem to have made the right call. The Henry Taxation Review is being used as a cover for Rudd to slide in another tax on mining companies to pay for his lavish and wasteful spending plans.
Great plan Kevin you twit. The mining companies as we speak are shelving projects and the Canadians are happy to welcome any displaced miners to their shores. But never fear, I don’t think the mining super profits tax will ever see the light of day. Sadly however it will do untold damage to Australia’s reputation as a stable place to invest.
By the way, if you want an example of what a complete economic nutter Rudd is consider this. Rudd on one hand complains that the mining companies take profits offshore while at the same time handing over taxpayers money to support the car industry which is 100% foreign owned!
The scary thing about all this is how most of the Australian media got it wrong about the tax review. In general the financial media in Australia have once again shown they are unable to do much else but rehash wire reports and press releases, or jump on trending stories.
What is more surprising is that veteran business reporters like Alan Kohler from the Business Spectator are now saying that Rudd has shown his true colours over the last few months. Well actually Rudd revealed just what sort of economic manager he would be a long time ago and in February 2009 I outlined quite clearly what sort of leader Rudd was in Rudd’s new direction: Bad news for investors. In that article I wrote:
“Rudd is now showing his true colours, he is man who said anything to gain power and now will do anything to hold onto that power. He is almost child like in his sulking, things have not turned out as he expected and now like a child he will blame anything and everything for that.”
Kev07 has lashed out at neo-liberals, bankers, miners, the Chinese, the Japanese, corporate executives, John Howard and other’s because they have all conspired to ruin Rudd alternative parallel universe of make believe and fantasies.
But the reality is that Kevin Rudd is unable to deal with the real world and simply wishes to blame others for his own failures. The buck never stops with Kevin Rudd or haven’t you noticed that yet?
This lead me onto the subject of health reform which the Government has called “historic”. Well I guess the Rudd health reforms are historic in that they will cost billions and deliver outcomes which nobody can clearly define.
When for example will the number of patients who die because of accidents or mistakes in our hospitals be reduced? Well don’t look in the health reform details for the answer because it isn’t there. You see in the mixed up world of Kevin Rudd the spending is the most important part of reform, not achievement.
But I have ranted on about this before and in June 2009 I lamented that:
“Extreme socialists believe that the Government should jump in and help us through the bad times, distribute wealth so that we all can live in harmony and that they know how best to manage our schools, hospitals and utilities. Of course extreme socialists need a lot of money to create their fantasy land but no problem, they simply raise taxes for those greedy free market companies and for people they decide are wealthy.
The main problem is that extreme socialists only know how to spend as the concept of making a profit or seeking an economic return is something that only those evil neo-liberals would think of. So in their view of the world when a government funds a project there should be no detailed objectives, just some high level vague statements of what they they hope will be achieved.”
Back last year when I wrote about Rudd’s wasteful spending many in the media were praising the Government’s spending programs and economists were saying how good these programs were at supporting the economy.
But now it seems people have drifted across to my side of the argument and the Audit Office report into the Rudd Government’s Building the Education Revolution (BER) program has questioned how efficient it has been in creating jobs as well as finding numerous areas of mismanagement.
I will not even touch upon the home insulation program which tragically lead to the deaths of four people and wasted hundreds of millions of dollars. It has now been canceled and was a total waste of money. But it was good news for the Chinese companies who offloaded substandard pink batts onto Australian consumers.
Then of course there is my favorite waste of taxpayers money the National Broadband Network (NBN) which has so far cost millions already just in reports and will be outdated by the time it is finished. If anyone thinks that the Government can deliver a huge technology focused project like the NBN on time and within budget then they are in the same fantasy land as Kevin Rudd.
There have been so many blunders and missteps made by the Rudd Government that when combined with the almost endless twisting of the facts and buck passing (aided by the Ruddites in the media) that this has lead to a new problem which I call “Rudd Fatigue”.
Rudd Fatigue is where your brain simply does not process anything Rudd says in order to protect your sanity. This is because it has been proven that constant exposure to Ruddish (see: Kevin Rudd and Criswell: can you spot the difference?) can result in people being unable to make a point in less than five minutes of speaking. (just look at Wayne Swan these days)
It appears now that more and more people are being affected by Rudd Fatigue every day and the only known cure is to ensure that Rudd is not in public office for much longer. So let’s hope that the majority of Australian’s remember this when the next federal election comes around and send Rudd and his band of incompetent Ministers looking for new work!