EYE-BALL’s Herman on – Death and Taxes Part IV

October 28, 2011
Herman O'Hermitage
Death and Taxes Part IV.
By: Herman O’Hermitage
Herman O'HermitageDaily we are bombarded with utter nonsense.

Median Incomes are up by 40% from 1979 to 2007, (the mind boggles), lowest incomes are up by 18%, while the top 1% of incomes are up by 275%;

Therefore proposals by President Obama to tie taxes for the rich (incomes above $1m p/a) to that of median incomes will lead to class warfare, Republicans say.

Herman O'HermitageEach day the news covers more silly and outrageous claims or applications.  Please read more on this data via the LA Times article and linked hereto: “the Rich are getting Richer, US Study finds”.

Wall Street ProtestersProtesters in Sydney and Melbourne are dispersed by Police, after Police settle their pay claims with the State Treasury, while wholesale cutbacks are announced for other State government workers, like teachers, nurses and paramedics.

QANTAS ChiefAt Qantas, Alan Joyce, pursues his own incentive based pay rise to 5 odd million while those on more basic incomes of $20 per hour ($41.6K p.a.) have their jobs exported to cheaper labour cost centres like South East Asia, but that doesn’t create class warfare?

And if they do take industrial action, wholesale flights are cancelled to further penalise the entire workforce of Qantas, and that doesn’t create class warfare?

BHP LogoThe annual net profit after tax of BHP in 2011 is 7.7% (approx) of Australia ’s GDP.  40% of those dividends that are paid to non Australian shareholders, as a result, and the exporting of Australia’s natural endowment and birthright is exported to the super wealthy, yet that doesn’t create class warfare. Just legislate the Mining Royalty legislation immediately.

In Australia we have a two speed economy, the lucky and the strong, compared to those less fortunate who do the more mundane, if they have regular fulltime employment, to create these super profits for the banksters, amongst others and that too doesn’t create class warfare.

Fosters LogoAt Fosters, the Board announces executive retention bonuses to retain their executive talent through the SAB – Millers takeover while the process workers and storeman and packer’s and distributors all fear for their jobs, but there is no extra for them, not even pre defined redundancy benefits and that doesn’t create class warfare?

What if the Paramedics had refused to attend to the resultant injuries from the Police moving into Martin Place last weekend to disperse those who were part of the sit in? What if they said fix our pay claims too? The State Government can’t afford to pay. Maybe, just maybe, they can’t afford not to pay.

Last night in Europe, we heard more gobble-de-gook about the European debt crisis. Holders of Greek Sovereign debt to accept a 50% write off on existing holdings (without time frame), a bigger bank bail out package is announced, banks require new capital rather than their executives accept pay cuts, to attempt to restore profitability……… Italian pensionable age rises to 67……Give me a break.

This nonsense for mine just leads to my mind not wanting to take any more of this utter nonsense. This can not simply be true. It must not be true. This is all so ridiculous, what is the difference between wildest imagination and news?

In any economic sense, the taxes on those who have capacity to pay, must increase. For those who are starving, they need a helping hand. Failing to see that, creates class warfare. Anything less than, is just gobble de gook.

Governments must try to bring their debts back into reality.

Where Australia does not have the unemployment of Europe or the USA, why does that mean they should not complain, or highlight where things are headed and going wrong?

Recently I heard a joke that those Australian’s in nursing homes would prefer to be in prison, therefore prisoners should be housed in nursing homes, the aged and infirmed would be better treated in detention than they are in the nursing home system. That type of irony exists in Australia.

Should they too be told to shut up and like it? Where are the humanitarian “do gooders” in that instance?

Our politicians are constantly telling us we have never had it so good. Can they possibly hear that things can get better. They can change their ways and belief’s and we could all prosper further. Try to allocate resources more rationally, not simply to your mates. That will avoid class warfare.

Failing to do so will be dire. Where does that very fine line exist. In reality, hope, expectation or a totally different stratosphere?


Herman …

  1. October 28, 2011 at 1:55 pm

    What motivated the Victorian Government to remove the protesters when they had been there less time than their Sydney counterparts?

    What makes Victorian Police the most blood thirsty when it comes to police shootings?

    Were not the protests peaceful – why doe steh Federal Government allow the Aboriginal settlement in park opposite Parliamant House – many years this was tolerated …

    No – the removal of the protests that are still going in off-shore lands was to much of a challenge for Victorian Police Commanders – Sydney had to follow suit else they appear weak and accepting of the challenge to authority –

    There is malice involved here and the Authorities are fearful …

    Harry HD.

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