Wednesday, September 30, 2020

Sssh, please don't mention the Donald's taxes, we're down under with the wrascally wreptiles ...




The pond supposes it should be startled, shocked, surprised, at the way that the reptiles have managed to disappear the NY Times' story about the Donald and his taxes. The reptiles have long maintained that they're something of a broadsheet national newspaper of record, but their ability to disappear things means that they're more a Pravda paper of record than the real thing.

Everywhere else the story has been at least given some coverage, cartoonists have run wild, speculation as to what else the Times has on the Donald has been rampant, as if what they've already dug up wasn't enough to go on with. But the reptiles? Nada, zip, zilch, nil, nihil, nowt, nix, not a dicky bird, sweet Fanny adams, zero ...

Still, the pond always lives in hope, and so at last when the bromancer turned his attention to the upcoming debate, the pond hoped that at last some small attention would be paid ...

 

 

Of course the debate will have been and gone early this day, so the bromancer is a bit like an ancient oldie who wandered down late in the morning to talk about the already opened Xmas presents ...


 

Well, it was fine for the reptiles to put Joe in the picture, but surely there would have been better angles to celebrate?

 


Well there's only one more bromancer gobbet to go, let's see if those pesky taxes cop at least a line ...


 

Who wins? The reptiles win. Not a word about taxes or the Donald as a businessman, just the usual waffle about Biden's verbal gaffes, because you know, the Donald never does gaffes and always tells the truth ...




 

And so to a disinterested piece where the scribbler has no skin in the game at all, is completely disinterested, in the sense of being unbiased, unprejudiced, impartial, neutral and non-partisan ...


 

Takeaway? Now there's a man who knows how to beguile the Donald ... though the pond has absolutely no idea why they're doing this grey-out, not when the disinterested one begins with "the growing consensus is that Australia eventually will ditch its largest and most reliable source of energy, coal ..."

Wash out your mouth sir. Why the bromancer explained on the reptile pages, and so in the pond, only a few days ago, how coal, dinkum, clean, innocent, pure Oz coal, was still all the go ... and anyway, most people have done the sums and discovered that nuclear energy is the most expensive option doing the rounds. You wouldn't be dissing coal to sell uranium would you?


 

Oh if the Finns reckon it's okay, great, we can ship all our shit there, and if something happens to the ship, who cares, the ocean's a mighty big place, and given its ability to handle all that plastic, it can probably take a little nuke shit ...

But why this talk of nukes? Is there a sting in the tail? Skin in the game? A hare on the loose?


 

Ah say no more, when the interests become obvious, the perceptions of the facts becomes obvious too ...

And so to the bonus for the day, and the pond had held out hope that Dame Slap would mount a strenuous defence of the Donald, and assault the NY Times, she being a MAGA cap wearer and all, but what do you know, she and the Swiss bank account man squared off over comrade Dan ...



The pond can't begin to explain how batshit bored the pond becomes these days when the reptiles get going on comrade Dan ...

Besides, if it wants an exercise in tedium and ennui, it will always first turn to nattering "Ned", the nonpareil master of the reptile art ...


 

Well he's not going to mention the Donald's taxes, is he, he's just going to rabbit on endlessly about how the rich need their tax break, and how deeply unfair tax breaks are deeply fair, because how the rich suffer, and he'll do it at tedious length by citing the thoughts of others ... but please, never mind, the pond is well aware of its prime duty, which is to bore stray readers silly ...


 

Sweet Jesus, not only can the man bore, what a way to twist an argument. If the media coverage takes for granted that the tax cuts are deeply unfair, what of the actual perpetrators of the unfairness? What of SloMo and Josh? Having devised them, and voted for them, how can they backtrack now? Easily if they wanted to, just as they've backtracked on the NBN, and coal, and gone full gaseousness, and stacks of other stuff ...

Well the pond didn't guarantee logic or reason would accompany the existential sense of alienated 'being or nothing' ennui, so on we plunge ...


 

Around that talk of "progressivity", the pond began to have deep regrets, and a feeling of guilt, especially as "Ned" resorted to his favourite trick to fill up a column, which is to quote someone else at great and tedious length ...

Perhaps a couple of cartoons in recompense, ones with a "progressivity" theme?

 



 

Ah, that's better, now back to "Ned" recycling Deloitte's figures explaining how the rich are doing all the heavy lifting, and all that talk of unfairness is entirely unfair, because those wondrous tax cuts are entirely fair to the rich...


 

Of course in the old days there would have been talk of deficits and such like nonsense ... and some, as John Quiggin in March here, would have talked of repairing the fiscal effects ...

I was asked by a journalist about the long-term fiscal effects of the government response to the crisis. Here’s what I said.
 In simple accounting terms the cost of the intervention so far can mostly be offset simply by cancelling the Stage 3 tax cuts legislated in advance for 2024-25 (this also happened when the Keating Labor government legislated for future tax cuts in the 1990s). These are projected to cost $95 billion over the five years to 2029-30
so the saving would easily offset the crisis intervention over 10 years.
That’s assuming that the crisis ends quickly and everything returns to the way it was before. I think we will end up with a substantially larger role for government, and therefore a permanent increase in the public sector share of national income, which means higher taxes.

Well it didn't go away quickly, and everything will take a long time to return to the way it was before, and there likely will be a substantially larger role for government, and yet in reptile la la land, all that's talked about is the way that the rich need their cash now ... 

Luckily the infallible Pope was on hand to lighten proceedings, and the pond wanted to spare a thought, and perhaps spare another penny for the rich ...

 



Strange as it might seem after that visit to the swamp dwellers, even Deloitte can't sustain the reptile dream of priming the economy with the rich going on a spending spree ...


 

Well that's enough of "Ned" recycling Deloitte and Richardson, and welcoming the tax cuts with open arms, no matter that they're deeply unfair, because who cares about deficits these days and because what we need is more Donaldism down under. And speaking of the Donald and taxes, which the reptiles apparently never do, why not wrap the day up with the usual immortal Rowe, with more Rowe here ...





14 comments:

  1. Pravda, DP ? Or Izvestia ?

    Remember: there's no izvestia in pravda and no pravda in izvestia.

    ReplyDelete
  2. So, according to the Pancontinental man, SMRs can provide: "cost-competitive and environmentally friendly power for uses such as hydrogen production..." Yes, but solar photovoltaic and wind (especially off the East Gippsland coast) can do it quicker, and much cheaper and close to the source (ie sea water).

    Get over it, man, you lost the race long ago. But nice to know that Synroc is still remembered even if the French did invent vitrification about 25 years earlier than 1978.

    Though I still don't get quite why it's only now that "Small Modular Reactors" are arriving when there have been hundreds of 'small modularised reactors' in ships (submarines, aircraft carriers and even large cargo vessels) for many decades now. Are the designs all still military secrets ?

    ReplyDelete
  3. I wonder if the Deloitte research just assumes that the wealthy take their income as cash and pay tax accordingly. My own suspicion would be that the top 1% in Oz would probably be scoffing at the type of tax Drumpf pays. Given franking credits, trusts and so on the one percenters are likely getting a net credit.

    On another subject, I was listening to Our ABC interrogating an MUA official about the 40 ships unable to dock at Port Botany due to union disputation. A quick google search turned up a number of free ship trackers so I navigated to Port Botany:

    https://www.marinetraffic.com/en/ais/home/centerx:151.1/centery:-34.2/zoom:9

    Que? Plenty off Newcastle as usual but the ones off Sydney must be the new stealth boats.

    My question is why don't any of the press check anything? It's like the saying “If someone says it's raining and another person says it's dry, it's not your job to quote them both. It's your job to look out the window and find out which is true.”

    ReplyDelete
    Replies
    1. Tsk tsk, Bef, you know damned well that if it was the job of the press - and especially the Murdoch press - to actually report the world more or less accurately then they'd have to hire some real, live actual journalists and not just the rambling agitproppers that currently over-populate the herpetarium.

      And they just wouldn't know where to find, or how to recognise, a genuine journalist. And even if they do hire one by massive mistake (eg Katrina Grace) as soon as they wake up to their mistake its whooshies out the door !

      Delete
    2. and someone who claims to be a 'veteran journalist', and to be 'affectionately known' as 'Gleeso', interviewed one of those who conjured up the IPA's $319 billion as the cost of eliminating this strain of Covid. Except, I am told (it was Sky 'News', and one has to draw the line somewhere) that 'Gleeso' expressed his alarm that this would be 23% of GDP. The IPA minion did not correct him - nor explain how they calculated that percentage.

      Delete
  4. Ah yes, tax cuts...... Richard Denniss lets the cat out of the bag (which was transparent anyway) in The Monthly (paywalled alas) https://www.themonthly.com.au/issue/2020/october/1601474400/richard-denniss/fear-spending

    But once it’s accepted that we not only can, but should, spend a lot more money, Australian politics tilts radically. What scares the so-called fiscal conservatives isn’t a big increase in debt, but a big increase in the Australian public appetite for free childcare, better aged care, better schools and better public transport.

    Conservatives know that once Australians get a taste of high-quality services it will be hard, if not impossible, to wind those services back. And after the pandemic has passed, and a big increase in public spending has driven unemployment back down, the fight about inflation will eventually return. And when people are asked if they would prefer to keep their better services or pursue bigger tax cuts, even conservatives know what the answer will be.

    ReplyDelete
  5. Hmmm. So the Bromancer - himself a fine example of selective memory loss and verbal gaffes - would like us to know that: "Biden continues to make the most astonishing gaffes, even when reading from a teleprompter."

    And of course, the Bromancer infallibly knows when Biden has made a "gaffe" and when he is "reading from a teleprompter". Trump, as we all know very well, is just the very model of a modern articulate: clear, focussed, accurate, truthful in every little thing he says.

    Well anyway, I have a pointer for the Bro that just might be useful for him fairly soon (and probably already is for Nullius Ned); viz: the impact of age-related memory loss. Look it up here:
    https://www.helpguide.org/articles/alzheimers-dementia-aging/age-related-memory-loss.htm

    You will find a table of "memory changes", of which one is: "Occasional difficulty finding the right word, but no trouble holding a conversation". Now I can certify that one from personal experience and Joe was born about 7 months earlier than me. However, right beside that is the symptoms of dementia: "Words are frequently forgotten, misused or garbled; repeats phrases and stories in same conversation."

    Now I don't know anybody of about our (mine and Joe's) age that doesn't do a bit of that; Trump, in particular can't open his mouth without rambling on like that. So all things considered, I reckon Joe is carrying his mental age much better than Trump.

    ReplyDelete
  6. So, Ned would have us believe that: "Recall the 2019 election saw an epic policy and philosophic contest between the Morrison government and Bill Shorten-led Labor...:

    No it didn't, Ned, it saw an epic dirty tricks war between a sadly artless Shorten-led Labor in which Clive Palmer's $80 million and the Murdoch press's lies allowed the Coalition to win two seats in 'outback Queensland' (Katter and Hanson "country") and lose one seat elsewhere (in Australia, that is) for a net gain of one seat and 1.17 percentage points gain in TwoPartyPreferred. Wau some epic "policy and philosophic contest" that was.

    I'd think that Ned was shading well over into dementia territory myself, if it wasn't for the fact that Ned's bullshvt is just an entrenched reptile trope. But then Ned goes on to quote Chris Richardson who is sounding more and more like Terry McCrann every day.

    PS: loved the 'glass ceiling breaker/reinstaller cartoon' DP and if RBG hadn't been so selfish about holding on to her SCOTUS seat unto death, a liberal 'ceiling breaker' would have been installed years ago, and Trump wouldn't be able to do his takeover now. But hey, she had every right to hang on to hear and chortle over Scalia's jokes amd witticisms unto death, didn't she ?

    Back to Ned and Chris - or, as DP points our, mainly Chris: not one mention anywhere of how absolutely "progressive" capital gains tax isn't. Yeah, by all means talk about how "the wealthy" will bank their tax cuts (actually, invest them in capital assets) but don't ever mention that, for instance, company tax cuts are nearly all spent on share buybacks that are paid to the top end as "capital gains", or are sent overseas to be forever invisible to Australia.

    But a $5 tax cut for the poor bum who empties the rubbish bins and sweeps the floor: magnificent ! What an incredible stimulus to the economy that will provide.

    ReplyDelete
  7. Hmmm.

    https://www.democraticunderground.com/1218322753

    ReplyDelete
  8. Hi Dorothy,

    “The pile driver, the blancmange, the ink jet, the sponge, the sword, the shield.”

    Is The Bromancer repeating the memory test from his latest Montreal Cognitive Assessment?

    DiddyWrote

    ReplyDelete
  9. Ok, just for DP.

    https://www.youtube.com/watch?v=r5z2lnP2ZBI
    And, as the Saturday paper often says: extra points if you can name the male and female leads.

    https://www.youtube.com/watch?v=54W8kktFE_o
    The original, and still the best, symphonic rock.

    ReplyDelete
  10. OK - this should be my last comment on the IPA speculation of a 23% hit to GDP from an ‘elimination’ strategy for this strain of Covid; otherwise I am starting to come across as a little obsessive about IPA ‘research’, and they really are not worth the effort.

    The actual IPA paper says its ‘model’ is derived from the Reserve Bank’s ‘Statement on Monetary Policy for August 2020.’

    The Reserve Bank document is readily available - except, it seems, to the Economics Editor of the Flagship, who, otherwise, should continue to remain nameless.

    Now, the RBA Statement does contain a graph of the same form as the one shown in the IPA screed. Same form - quite different calibration. Nothing I can find in the RBA Statement shows a calculation leading to a specific loss of ‘$319 billion’ over any timeframe in the next decade.

    Perhaps Dame Chairman will give a simple explanation in her next column.

    Just for the record, the RBA proposes that GDP could fall, in the order of 10%, in the next few months, but by June 2021 their modelling shows the prospect of GDP resuming growth of around 4-5%, and that continuing - even in pessimistic scenarios.

    The RBA document also mentions that a major weakness is consumer spending, and that it is likely to get worse as job support programs are wound back, but - the IPA compilers seem to have missed that bit. It also notes that actual business investment seems to be less than business lobbies like to claim - so much for a business-lead recovery.

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    Replies
    1. So what you're saying Chad, is that the IPA has strongly upheld its tradition of publishing misrepresentation based on misunderstanding.

      Delete
    2. Thanks GB - sound economy of words! The disturbing part is that their misses are taken up so uncritically by a particular element of the shrinking media. And I leave it there.

      Delete

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