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Thread: Fantasy pretended cuts in government spending 2012

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    Default Fantasy pretended cuts in government spending 2012

    The first government website below studiously avoids giving last years' figures for comparison with this years' in case readers might realise that cuts in spending endlessly talked up by politicians and others have not happened.

    http://www.finance.gov.ie/documents/.../infooctob.pdf
    http://www.finance.gov.ie/documents/...Taxprofile.pdf

    For example,according to the Irish Times "On the spending side, total net voted expenditure, at €33.2 billion in September, was €338 million (1.0 per cent) ahead of projections. In year-on-year terms, net voted expenditure is €105 million (0.3 per cent) below the same period in 2011."

    So despite all the talk,the cuts are negligible year-to-year. Generally,current government spending is still increasing,offset by cuts in government capital projects that mostly hit the private sector.What the government means by cuts is pretended cuts in pretended future spending increases that would have occured had the good times lasted.

    The December budget likely will shaft taxpayers yet again as current spending continues to increase but diminishing returns in taxes should set in soon. As an ex bond fund manager at giant Pimco observed in the Kilkennomics festival about Ireland's capacity to repay debt,you can't get blood out of a stone.
    Last edited by patslatt; 9th November 2012 at 10:24 PM.

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    Politics.ie Member hammer's Avatar
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    They might just raid all those pension funds again.

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    Politics.ie Member neiphin's Avatar
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    this should be funny
    "If we VOTE YES there will be no more austere budgets. Fact " Hammer, mayday 12'

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    Politics.ie Member Red_93's Avatar
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    This is because there have been massive increases in social welfar payments, therefore negating any other savings. There is no doubt but that we need to create jobs in order to solve our budgetary crisis.

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    Politics.ie Member wombat's Avatar
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    Quote Originally Posted by hammer View Post
    They might just raid all those pension funds again.
    Only private pension funds can be touched, those of bankers and politicians are protected by the constitution. Now there's an amendment I'd campaign for.
    Beer is proof that God loves us - Benjamin Franklin

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    Politics.ie Member Marcos the black's Avatar
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    Quote Originally Posted by Red_93 View Post
    This is because there have been massive increases in social welfar payments, therefore negating any other savings. There is no doubt but that we need to create jobs in order to solve our budgetary crisis.
    Cut welfare payments in half..or phase out dole payments over a 3 year period. The cycle of generational welfare culture has to be broken..
    You'll never go broke appealing to the lowest common denominator.

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    Politics.ie Member daveL's Avatar
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    Quote Originally Posted by Red_93 View Post
    This is because there have been massive increases in social welfar payments, therefore negating any other savings. There is no doubt but that we need to create jobs in order to solve our budgetary crisis.
    Massive increases since last year? Really? Has the unemployment register changed that much in a year?

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    Just get rid of the PS altogether. One big bang, all at once.

    We will be sorted.

    Will that be enough of a PS cut for some of you?

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    Quote Originally Posted by hammer View Post
    They might just raid all those pension funds again.
    But the civil service won't raid its own pensions. Its pensions could be valued by actuaries and taxed,with the tax coming out of wages given that pensions are unfunded.

    But instead of raiding pensions to fund job creation programmes that are likely to be ineffective,it would be better if government lowered taxes on small business owners to create real jobs. High commercial rates,lack of bank credit and the economic depression make business expansion highly risky. But the brave small business person who does expand finds his hidden partner the taxman wants to take 55% of the profits paid out in dividends but none of the losses. Why bother?
    Last edited by patslatt; 9th November 2012 at 10:40 PM.

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