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Federal Budget 2014: Ross Gittins answers your questions

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Budget 2014: economic sense, but nasty

It's right to get the budget back into surplus, but some of Joe Hockey's measure are plain nasty, says Ross Gittins.

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The Sydney Morning Herald's Economics Editor, Ross Gittins, will be answering reader questions about the 2014 Federal Budget from midday.

Please leave your questions in the comments below. 

288 comments

  • Is a high income earner, who is over 55, and able to contribute up to $35K into Super, betetr or worse off as a result of the "debt tax"?

    Commenter
    nearly retired
    Date and time
    May 14, 2014, 10:40AM
    • Has the govt brought in death duties/ taxes?
      The high income levy- does it apply to income over 180000 or the whole of your income if you earn more than 180000?

      Commenter
      rahul
      Date and time
      May 14, 2014, 11:31AM
    • Ross Gittins: No death duties. Only to income above $180,000.

      Commenter
      Ross Gittins
      Date and time
      May 14, 2014, 11:53AM
    • Ross Gittins: Worse off, because for the next three years you'll pay an extra 2% of tax on income above $180,000.

      Commenter
      Ross Gittins
      Date and time
      May 14, 2014, 11:53AM
    • The tax increase does create a bigger incentive to salary sacrifice up to the maximum $35,000 super contribution because of the greater difference between the 15% tax paid in super and now 49% paid outside super.

      Commenter
      Mike
      Location
      Central Coast
      Date and time
      May 14, 2014, 12:29PM
    • I'm sure those on above $180000 a year will find some way to get out of it.

      Commenter
      David
      Location
      Fletcher
      Date and time
      May 14, 2014, 12:35PM
    • Mr Gittins

      Is it reasonable that a lion's share of the deficit created to stabilise the economy and thereby, in essence, bail out those who have an outsized stake in the economy (i.e. the rich), is now being shouldered by the poor?

      Is this the Coalition's version of "privatise the gains, socialise the losses"?

      Does economic theory have anything to say about direct democracy through citizen rebellions? Or is that more a sociology topic?

      Thanks

      Commenter
      Milton
      Location
      Sydney
      Date and time
      May 14, 2014, 2:08PM
    • Dear Ross, do you think that we are surreptitiously (only) permitted to vent off steam on the internet after we get socially and economically violated like we have with the current budget because that is a controllable outlet valve for the status quo interests and it is assumed to be a less tiresome and dangerous form of protest than marching in the streets? On the aggregate, putting aside specific policies, do you think the budget is just such a violation?

      Commenter
      Jameson
      Location
      Melb
      Date and time
      May 14, 2014, 2:59PM
  • Ross,

    You've been helping me make sense of the economy and since back when I was a lowly economics student in high school in 2003 - can you help me understand the GP tax? Do you believe it is making health much less accessible and if so, why would the government introduce it other than to simply raise money?

    Commenter
    Jack Black
    Date and time
    May 14, 2014, 10:51AM
    • Supplementary question: Would it not have been fairer, simpler, and politically easier to increase the Medicare levy a little?

      Commenter
      phily
      Location
      Sydney
      Date and time
      May 14, 2014, 11:09AM

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