Comments on: The tax review, health reform and Rudd fatigue. http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/?utm_source=rss&utm_medium=rss&utm_campaign=the-tax-review-health-reform-and-rudd-fatigue Views about the Australian stock market, shares, the economy, investing, politics and world events. Fri, 10 Feb 2012 09:23:14 +0000 hourly 1 http://wordpress.org/?v= By: Biker Pete http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-5141 Biker Pete Fri, 30 Jul 2010 02:54:41 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-5141 But Latham is _really_ helping Gillard's case!~ (With fiends like these, who needs enemas?) But Latham is _really_ helping Gillard’s case!~
(With fiends like these, who needs enemas?)

]]> By: Greg Atkinson http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-5136 Greg Atkinson Thu, 29 Jul 2010 12:36:39 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-5136 Well when I wrote this post back in early May few in the media thought that Rudd would lose an election let alone be removed from office by his own side! How quickly things change. From early 2008 I wrote about how Rudd was all spin and no substance and so for me, the only surprise was how long it took for Rudd's poll numbers to tumble. Mind you I did not expect him to be stabbed in the back by his own party! Looks like Rudd was a one hit wonder, just like Gordon Brown in the UK and probably Barack Obama in the U.S. Well when I wrote this post back in early May few in the media thought that Rudd would lose an election let alone be removed from office by his own side! How quickly things change.

From early 2008 I wrote about how Rudd was all spin and no substance and so for me, the only surprise was how long it took for Rudd’s poll numbers to tumble. Mind you I did not expect him to be stabbed in the back by his own party!

Looks like Rudd was a one hit wonder, just like Gordon Brown in the UK and probably Barack Obama in the U.S.

]]> By: Ned S http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4780 Ned S Sun, 27 Jun 2010 12:31:43 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4780 Dunno about the party machine, but having suffered both Whitlam and Rudd in one lifetime has been enough to put me off the ALP irretrievably for ever regardless of who might head it. As for the Red Barren specifically - Well the very real possibility is that she just could be worse than either of them given a chance. And at the moment all she has to do is pick the stuff that she and Kev got up to together that the people most hated and say Well, I was just being loyal and truly did reckon it should have been done different. Which may very well be enough to get her lot over the line given that poor ole Tony is the other mob's idea of talent. Shame though. Dunno about the party machine, but having suffered both Whitlam and Rudd in one lifetime has been enough to put me off the ALP irretrievably for ever regardless of who might head it.

As for the Red Barren specifically -- Well the very real possibility is that she just could be worse than either of them given a chance. And at the moment all she has to do is pick the stuff that she and Kev got up to together that the people most hated and say Well, I was just being loyal and truly did reckon it should have been done different. Which may very well be enough to get her lot over the line given that poor ole Tony is the other mob’s idea of talent. Shame though.

]]> By: Greg Atkinson http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4778 Greg Atkinson Sun, 27 Jun 2010 00:10:45 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4778 Well it seems like the ALP party machine had Rudd fatigue more than the Australian people. I am somewhat amazed though how quickly Rudd fell from grace and was knifed in the back by his own party. With friends like the ALP power brokers who needs enemies! Well it seems like the ALP party machine had Rudd fatigue more than the Australian people. I am somewhat amazed though how quickly Rudd fell from grace and was knifed in the back by his own party. With friends like the ALP power brokers who needs enemies!

]]> By: Anon http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4521 Anon Wed, 02 Jun 2010 03:23:38 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4521 This about some sums up the next election! http://www.geelongadvertiser.com.au/images/uploadedfiles/editorial/pictures/2010/06/02/TOON1_CROP-1_N10706790_343279.JPG This about some sums up the next election!

http://www.geelongadvertiser.com.au/images/uploadedfiles/editorial/pictures/2010/06/02/TOON1_CROP-1_N10706790_343279.JPG

]]> By: Senator13 http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4498 Senator13 Sat, 29 May 2010 05:36:23 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4498 Tax and spend all right! Rudd is kicking off his new tax by spending $38.5 million in advertising!! What a rort. http://www.smh.com.au/national/pm-defends-ad-blitz-on-mining-tax-20100529-wm5n.html Coincidently this comes out on a Friday and is the same day that the Govt says they want to take Japan to court over whaling… Tax and spend all right! Rudd is kicking off his new tax by spending $38.5 million in advertising!! What a rort.

http://www.smh.com.au/national/pm-defends-ad-blitz-on-mining-tax-20100529-wm5n.html

Coincidently this comes out on a Friday and is the same day that the Govt says they want to take Japan to court over whaling…

]]> By: Vince L http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4473 Vince L Wed, 26 May 2010 23:53:57 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4473 Rudd stands for tax and spend, that is it. He is a classic power hungry politician and is trying to use tax revenues to shore up his power & popularity. He tries to tax areas where he thinks he will not lose many votes, and then spends money in vote buying areas. Does he have a long term plan? I don't think so. He is just focused on being in control a day at a time. Rudd stands for tax and spend, that is it. He is a classic power hungry politician and is trying to use tax revenues to shore up his power & popularity.

He tries to tax areas where he thinks he will not lose many votes, and then spends money in vote buying areas.

Does he have a long term plan? I don’t think so. He is just focused on being in control a day at a time.

]]> By: Anon http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4472 Anon Wed, 26 May 2010 23:27:01 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4472 Is this the start of a complete backdown? Does Rudd stand for anything? I think Greg is right, this tax isn't going to see the light of day. "THE Rudd Government is moving towards a major backdown on its $12 billion tax on resources and is now expected to increase the threshold at which its proposed super-profits levy kicks in from 6 per cent to 11 or 12 per cent." http://www.news.com.au/business/prime-minister-kevin-rudd-to-backflip-on-mining-tax-rate/story-e6frfm1i-1225871830341 None of my posts constitute financial advice – so do not act on it in that manner. Its just chit chat. Always see a financial advisor for decision making / advice / info. Is this the start of a complete backdown? Does Rudd stand for anything?
I think Greg is right, this tax isn’t going to see the light of day.

“THE Rudd Government is moving towards a major backdown on its $12 billion tax on resources and is now expected to increase the threshold at which its proposed super-profits levy kicks in from 6 per cent to 11 or 12 per cent.”

http://www.news.com.au/business/prime-minister-kevin-rudd-to-backflip-on-mining-tax-rate/story-e6frfm1i-1225871830341

None of my posts constitute financial advice – so do not act on it in that manner. Its just chit chat. Always see a financial advisor for decision making / advice / info.

]]> By: Greg Atkinson http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4436 Greg Atkinson Tue, 25 May 2010 06:36:03 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4436 Seems more people are coming out against the RSPT. In an article today in The Australian John Ralph says: <em>A decision to impose a 40 per cent tax rate on earnings above the bond rate will reduce future investment because of the substantive effect on projected after tax returns. Projects that promised to meet, or just exceed, the company's cost of capital without the new tax would not do so with the new tax, and so would not proceed. Only those projects with a very high projected return would proceed. A suggestion that an increase in taxation would result in an increase in investment could only be made by somebody not living in the real world.</em> See: http://www.theaustralian.com.au/news/opinion/retrospective-tax-a-risk-to-national-sovereignty/story-e6frg6zo-1225870760693 Seems I am not the only one who thinks Ken Henry has lost the plot. Seems more people are coming out against the RSPT. In an article today in The Australian John Ralph says:

A decision to impose a 40 per cent tax rate on earnings above the bond rate will reduce future investment because of the substantive effect on projected after tax returns. Projects that promised to meet, or just exceed, the company’s cost of capital without the new tax would not do so with the new tax, and so would not proceed. Only those projects with a very high projected return would proceed. A suggestion that an increase in taxation would result in an increase in investment could only be made by somebody not living in the real world.

See: http://www.theaustralian.com.au/news/opinion/retrospective-tax-a-risk-to-national-sovereignty/story-e6frg6zo-1225870760693

Seems I am not the only one who thinks Ken Henry has lost the plot.

]]> By: Ned S http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4413 Ned S Sun, 23 May 2010 17:07:09 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4413 One other strange comment I read on the tax is that it's supposed to make "marginal" mining projects more attractive - When I read that, I asked myself Who would want to support/invest in a marginal mining project? With the answer apparently being the Aussie government??? On the theory that it will generate more jobs and other goodies I guess? I see the logic alright - But I'm extremely uncomfortable with it. It's almost as if someone should say Kev, Wayne, Julia, Tanya, Penny, Pete, Steve, Nicola - You've shown Aussies your stuff, and based on what they've seen, they'll be able to make an informed decision on whether they want you to continue doing it for another 3 years - Time to back off and just play it cool now for a while please. One other strange comment I read on the tax is that it’s supposed to make “marginal” mining projects more attractive -- When I read that, I asked myself Who would want to support/invest in a marginal mining project? With the answer apparently being the Aussie government??? On the theory that it will generate more jobs and other goodies I guess? I see the logic alright -- But I’m extremely uncomfortable with it.

It’s almost as if someone should say Kev, Wayne, Julia, Tanya, Penny, Pete, Steve, Nicola -- You’ve shown Aussies your stuff, and based on what they’ve seen, they’ll be able to make an informed decision on whether they want you to continue doing it for another 3 years -- Time to back off and just play it cool now for a while please.

]]> By: Greg Atkinson http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4410 Greg Atkinson Sun, 23 May 2010 13:12:50 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4410 Here is a good article about the new mining tax and Ken Henry. It seems I am not the only person who reckons Henry has lost the plot! <a href="http://www.theaustralian.com.au/business/opinion/resource-super-profits-tax-plan-a-complete-nonsense/story-e6frg9if-1225869809828" rel="nofollow">Resource super-profits tax plan a complete nonsense</a> Here is a good article about the new mining tax and Ken Henry. It seems I am not the only person who reckons Henry has lost the plot! Resource super-profits tax plan a complete nonsense

]]> By: Ned S http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4331 Ned S Fri, 21 May 2010 09:45:22 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4331 "The Teflon Man" as Greg calls him? Wonder how many reports he commissioned to figure out if it is a good thing or a bad thing so he could could decide whether to claim it or not - Bet Swanny couldn't tell him! “The Teflon Man” as Greg calls him?

Wonder how many reports he commissioned to figure out if it is a good thing or a bad thing so he could could decide whether to claim it or not -- Bet Swanny couldn’t tell him!

]]> By: Anon http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4330 Anon Fri, 21 May 2010 09:21:29 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4330 Resource tax not linked to falling dollar - Kevin Rudd http://www.news.com.au/business/breaking-news/resource-tax-not-linked-to-falling-dollar-kevin-rudd/story-e6frfkur-1225869667858 None of my posts constitute financial advice – so do not act on it in that manner. Its just chit chat. Always see a financial advisor for decision making / advice / info. Resource tax not linked to falling dollar -- Kevin Rudd

http://www.news.com.au/business/breaking-news/resource-tax-not-linked-to-falling-dollar-kevin-rudd/story-e6frfkur-1225869667858

None of my posts constitute financial advice – so do not act on it in that manner. Its just chit chat. Always see a financial advisor for decision making / advice / info.

]]> By: Greg Atkinson http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4262 Greg Atkinson Thu, 20 May 2010 01:15:31 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4262 Well the new mining tax is being slammed by the global business and finance media as this Bloomberg article clearly illustrates: <a href="http://www.bloomberg.com/apps/news?pid=20601087&sid=aEVmLz1wyaGw&pos=5" rel="nofollow">Mining Profit Tax ‘Contagion’ Set to Spread From Australia</a> Well done Rudd, Swan and Henry. You have helped cause the markets across the world to drop. I wonder what their next trick will be? A new tax on tourism? Well the new mining tax is being slammed by the global business and finance media as this Bloomberg article clearly illustrates: Mining Profit Tax ‘Contagion’ Set to Spread From Australia

Well done Rudd, Swan and Henry. You have helped cause the markets across the world to drop. I wonder what their next trick will be? A new tax on tourism?

]]> By: Anon http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4220 Anon Wed, 19 May 2010 08:25:00 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4220 UK shows housing capital gains potentially could be taxed higher: "The Chancellor is to increase duty on capital gains even though the plan was not included in the Conservatives’ election manifesto. <strong>CGT on “non-business assets”, including second homes, buy-to-let properties and shares, could rise from the current 18 per cent flat rate to a top rate of 40 or even 50 per cent</strong>, to fall in line with the higher rates of income tax. The move could double tax bills for hundreds of thousands of investors and has been denounced as “legalised theft”. There has been speculation that the changes may be backdated to stop a “fire sale” of second homes and other assets." http://globaleconomicanalysis.blogspot.com/2010/05/legalized-theft-uk-proposes-50-tax-on.html Found via: http://neuralnetwriter.cylo42.com/node/2872 None of my posts constitute financial advice – so do not act on it in that manner. Its just chit chat. Always see a financial advisor for decision making / advice / info. UK shows housing capital gains potentially could be taxed higher:

“The Chancellor is to increase duty on capital gains even though the plan was not included in the Conservatives’ election manifesto.

CGT on “non-business assets”, including second homes, buy-to-let properties and shares, could rise from the current 18 per cent flat rate to a top rate of 40 or even 50 per cent, to fall in line with the higher rates of income tax.

The move could double tax bills for hundreds of thousands of investors and has been denounced as “legalised theft”. There has been speculation that the changes may be backdated to stop a “fire sale” of second homes and other assets.”

http://globaleconomicanalysis.blogspot.com/2010/05/legalized-theft-uk-proposes-50-tax-on.html

Found via:
http://neuralnetwriter.cylo42.com/node/2872

None of my posts constitute financial advice – so do not act on it in that manner. Its just chit chat. Always see a financial advisor for decision making / advice / info.

]]> By: Anon http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4205 Anon Wed, 19 May 2010 00:51:18 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4205 Need to watch pound for breakout...the pound is not the EURO and has suffered unjustifiably from contagion, hung parliament, just about everything is priced in and has gone wrong. My position in the pound is huge. However I do have hedges at critical support levels incase the pound goes down the gurgler. GBP/AUD looks strong. None of my posts constitute financial advice – so do not act on it in that manner. Its just chit chat. Always see a financial advisor for decision making / advice / info. Need to watch pound for breakout…the pound is not the EURO and has suffered unjustifiably from contagion, hung parliament, just about everything is priced in and has gone wrong.
My position in the pound is huge. However I do have hedges at critical support levels incase the pound goes down the gurgler.
GBP/AUD looks strong.

None of my posts constitute financial advice – so do not act on it in that manner. Its just chit chat. Always see a financial advisor for decision making / advice / info.

]]> By: Anon http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4204 Anon Wed, 19 May 2010 00:44:56 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4204 Aussie dollar in freefall. Need to be careful of this USD bullishness...at the right price the USD is a sell. Consensus is bullish USD - but perhaps still more to go...the trend is your friend :) None of my posts constitute financial advice – so do not act on it in that manner. Its just chit chat. Always see a financial advisor for decision making / advice / info. Aussie dollar in freefall.
Need to be careful of this USD bullishness…at the right price the USD is a sell. Consensus is bullish USD -- but perhaps still more to go…the trend is your friend :)

None of my posts constitute financial advice – so do not act on it in that manner. Its just chit chat. Always see a financial advisor for decision making / advice / info.

]]> By: Anon http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4187 Anon Mon, 17 May 2010 22:42:55 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4187 dear lord, I am rooting for Abbott - but he has to stop speaking! lol! Remain silent and let Rudd fall on his sword. "Only believe me if it is 'scripted': Abbott" http://www.theaustralian.com.au/politics/only-believe-me-if-it-is-scripted-tony-abbott/story-e6frgczf-1225867949322 What a shocking interview! dear lord, I am rooting for Abbott -- but he has to stop speaking! lol! Remain silent and let Rudd fall on his sword.

“Only believe me if it is ‘scripted’: Abbott”

http://www.theaustralian.com.au/politics/only-believe-me-if-it-is-scripted-tony-abbott/story-e6frgczf-1225867949322

What a shocking interview!

]]> By: Ned S http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4183 Ned S Mon, 17 May 2010 11:10:30 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4183 Maybe Aussies could line up like Tibetan monks to commit "kevikku" - As a protest against our mistreatment? :) (With "kevikku" being a lay around quietly on Bali beaches without getting stressed maybe sort of thing?) Finally got my lappy back today (replete with a replacement fan that goes) - But it won't dial up the www like it used to a month ago or more before it broke? It's SO hard to get good help! Hmmm ... They can stick all their technology and regulations etc where the sun don't shine for mine! :) Maybe Aussies could line up like Tibetan monks to commit “kevikku” -- As a protest against our mistreatment? :) (With “kevikku” being a lay around quietly on Bali beaches without getting stressed maybe sort of thing?)

Finally got my lappy back today (replete with a replacement fan that goes) -- But it won’t dial up the www like it used to a month ago or more before it broke? It’s SO hard to get good help!

Hmmm … They can stick all their technology and regulations etc where the sun don’t shine for mine! :)

]]> By: Anon http://www.shareswatch.com.au/blog/opinion/the-tax-review-health-reform-and-rudd-fatigue/#comment-4182 Anon Mon, 17 May 2010 10:06:56 +0000 http://www.shareswatch.com.au/blog/?p=2564#comment-4182 This government is so dodgy! Worrying patterns of behavior and disclosure for awhile now. Is there a Rudd Index I can short? Its probably lock limit down :). None of my posts constitute financial advice – so do not act on it in that manner. Its just chit chat. Always see a financial advisor for decision making / advice / info. This government is so dodgy!
Worrying patterns of behavior and disclosure for awhile now.
Is there a Rudd Index I can short? Its probably lock limit down :) .

None of my posts constitute financial advice – so do not act on it in that manner. Its just chit chat. Always see a financial advisor for decision making / advice / info.

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