Home > Current Affairs, Harry's Growl - Election 2013, Politics - Domestic, The EYE-BALL HGZ [Harry's Growl Zone] > EYE-BALL’s Harry’s Growl on – Election 2013 – Growl No: 31 – Playing with Rubbery things – – Wayne Swan and his Rubbery Numbers are about as honest as Gillard and her rubbery Caucus Numbers –

EYE-BALL’s Harry’s Growl on – Election 2013 – Growl No: 31 – Playing with Rubbery things – – Wayne Swan and his Rubbery Numbers are about as honest as Gillard and her rubbery Caucus Numbers –

April 6, 2013
Latest ‘Harry’s Growl’ Posts:

Larry Pickering Cartoons – Added 4th Apr 2013 – click to view in a new window:

To see more of Pickering’s Political cartoons – use this link

– 5th Apr – Election 2013  – Growl No: 30 – A sequence of reasons why this Government should be ROASTED –

– 4th Apr – Election 2013 – Growl No: 30 – Gillard – continues to Blame everybody else –

– 28th Mar – Election 2013  – Growl No: 28 – Gillard – The Face of Evil Revealed –

– 27th Mar – Election 2013  – Growl No: 27 – Rudd’s Choice – A Betrayal of all ALP voters –

– 22nd Mar – Election 2013 – Growl No: 26 – The Morning after – Australia feels like they have just been date raped … –

– 21st Mar – Election 2013  – Growl No: 25 – The ALP still in the quagmire – Today’s Leadership Spill achieved nor decided anything –

– To see more EYE-BALL Harry’s Growl posts: click here …

– Election 2013  – Growl No: 31 –
– Playing with Rubbery things –
– Wayne Swan and his Rubbery Numbers –
– are about as honest as –
Gillard and her rubbery Caucus Numbers –

| Author: EYE-BALL’s Harry’s Growl | 6th Apr 2013|
Latest Pickering images – 3 New Cartoons added 4th Apr 2013 – see image links to the left.

The Swan and Shorten show last Thursday was more about politics and the appearance of new legislation than any real difference to superannuation.

The proposed rule changes will never make it into Law before the Sept 14 election.  So unless the ALP win the election the presentation yesterday was about election promises rather than any real substance.

This message is already forming itself within the mainstream media and for the normally friendly media to shoot down a Government policy so quickly allows for the conclusion that this Government is a death trap train wreck about to happen.

Do nothing: plans won’t develop

| Author: David Crowe | Date: Apr 6th, 2013 | Link to On-Line Story. |

WORKERS who want to safeguard their retirement savings should not move an inch in response to Labor’s latest superannuation rejig.

For all the fanfare from Wayne Swan, the proposals have little chance of becoming law before the election and could be forgotten soon afterwards.

This means the politics of the package count far more than the policies.

Cleverly, the government can book a theoretical $900 million saving over the next four years by announcing the changes, while leaving it to others to adjust the budget if the bill is never passed.

Those savings can help pay for Julia Gillard’s school funding increase and National Disability Insurance Scheme in next month’s budget.

The government claims that it is trying to take the politics out of super, of course, and there is one worthwhile idea that does exactly this: an independent council to review the rules and try to come up with a better system.

The catch is that the entire package is an attempt to wedge Tony Abbott and turn super into a long-running election issue – to do the very opposite of depoliticising a sensitive policy.

The Opposition Leader is under fire for planning to remove a super tax break worth up to $500 for 3.6 million workers earning less than $37,000 a year.

The Treasurer and the Financial Services Minister, Bill Shorten, want to maximise the pressure on Mr Abbott by contrasting his tax on the poor with their tax on the rich.

This is not the first time super has been a key election issue, but nobody should welcome a partisan fight over the system now that it has swelled to $1.5 trillion, with millions of workers concerned about their savings.

If Labor had thought through the “sustainability” and “fairness” of the system more clearly it could have embarked on these changes last year, when it increased contributions tax on those earning more than $300,000.

After all, the government has had the Henry tax review, the Harmer pension review and the Cooper review of super in the past few years. Labor missed an opportunity to act earlier, outside an election year, when it could have made a lasting reform with wider consultation.

There is support for Labor’s changes, of course, but nobody should assume they will all take effect. Those who wanted a “fairer” system – that is, one with the progressive design of the income tax rules – are disappointed that more is not done to trim $32bn in tax breaks, given that the top 5 per cent of income earners gain 20 per cent of the benefits.

Others describe the changes as modest but worthwhile. There was little industry criticism yesterday of the new tax on those earning more than $100,000 a year on their funds – a group in the very top strata of society.

An increase in the super contribution cap to $35,000 a year is also being welcomed, but there’s a catch.

The higher cap takes effect on July 1 for those older than 60, which sounds like a great opportunity for older workers to save more. But why should anyone make a financial decision based on a press release that won’t be turned into law before the election?

Political tactics are one thing.

Practical reform is another altogether.

A news summary on the proposed superannuation changes appears below:

I am really getting sick of this Government taking us all for fools – they think we are so dumb and so apathetic and lets face it – so many of us are – yet we can all still tell when an idiot like Swan is telling us all a porky.

Revenue is expected to increases by $900 million over the next four (4) years under these proposed superannuation changes … who in their right mind would believe that?

To even think this Government would offer up forward estimates numbers given the ‘Budget Surplus’ guarantee it offered back in 2010 … creditability is important guys …

Any budget forecast, or funding forecast issued under this Government as a policy initiative  is useful as an overused dildo that flops all over the place.   It’s a ‘rubbery’ experienced as is the real numbers who support Gillard in the Caucus.   Please don’t be fooled …

The promised $1.5 billion forecast budget surplus issued in May 2012 for the 2013-14 fiscal year is going to be more like a $30 billion deficit … and all gone wrong in the space of 10 months – how could they get it so wrong …

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