There are stories coming from several sources in different parts of the nation of retirees turning up at Centrelink offices or ringing them up to ask when they will be getting their franking credit refunds. This is despite the fact that these people have no shares. And yet these gullible people actually get to vote. This clearly shows that they have no idea what a franking credit is, nor how it was subverted by the Howard government to facilitate shovelling taxpayer funds to the wealthy1. As has been reported elsewhere, this costs the budget almost $6 billion per annum. Funnily, for the gullible buffoons who actually believed that the removal of franking credit refunds was a ‘retiree tax’, it’s likely that the government will have to review franking credit refunds or increase the GST. This is according to major consulting company KPMG2. If it raises the GST, many people will hurl abuse, but the money will still keep flowing into the Liberal Party coffers from their wealthy donors. If the government try to get rid of franking credit refunds, then many of those donating to the Liberal Party will not be happy. What do you think the government will do?
Sources
On this issue of the franking credits, the Libs ought to be chaps decent enough to bally-well reward all retirees, including those who have no shares yet were brazenly asking where their post-election handout was. After all, salivating in expectation of a freebie, those Storm Financial-type sillies barracked Morrison back in. So come on Treasurer Flybinturd – toss them a few bucks regardless, lest ye be seen as a meanie. As to scavenging to mend the $6 billion gap , what will the government be likely to do about the money transferred into bulging wallets of some ageing wealthy? The sort of battlers lazing on yachts off Queensland’s coast or grey-nomading the wide brown land in Range Rovers attached to super-deluxe caravans. Morrison, as is his wont, will go on playing with smoke and mirrors. He will be Happyjack the Quiet (“underhanded”? ) Conman with smiley pal Cor-man. Scottie: all things to all people yet none to any in particular; bar aspirationals in key marginals. Of course he will raise the GST, because you just got a tax cut. Now look, it has to be recouped somehow, and what goes around, comes around. Be a united Australia, all pitch in, have a go in order to get a go….. or any such vacuous nostrum to project the fatherly Scomo image. Politics of screwing the average PAYE worker once more! “Plus ca change, plus c’est la meme chose” applies well. (Please don’t assume I’m cynical as I utter the foregoing!)
Russell,
Cynical? Not you, surely?