abbotts voodoo economics

Tony Abbott's latest attempt to spin his great big rolled gold welfare for the wealthy PPL as a boost to the budget's bottom line is the stuff of pure economic bs and outright ideological warfare against mainstream Australians.

It marks the beginning of Abbott's campaign to redistribute what little wealth remains in the hands of 90% of mainstream Australians to those least in need of it.

It's a hark back to the crap trotted out by Ronald Reagan and George Bush Snr in the 1980s; so-called supply side economics that has been totally discredited and lies as testimony to economic disaster and the massive concentration of wealth that now defines the USA:

"... Reagan was elected president in 1980 with George Bush Sr. as his Vice-President. In his eight years as President, Reagan would fulfill his campaign promises of lowering taxes - primarily on the wealthy - and greatly increasing spending - primarily on the military. Like Bush Sr. had recognized before Reagan captured the White House, this would lead to large Federal Budget deficits. In 1989 when George Bush Sr. became the 41st US President, this great national debt/budget deficit had to be dealt with! Even though Bush Sr. famously pledged during the 1988 Presidential Election, "Read my lips, no new taxes", after gaining the White House, he was forced to renege on that pledge and raise taxes. ..."

http://simple.wikipedia.org/wiki/Voodoo_economics

The link below shows the chart of who has benefited from 'voodoo economics' - Tony Abbott's list no less!

http://en.wikipedia.org/wiki/File:Changes_Top_1%25_Share_and_Top_Marginal_Tax_Rate_v2.jpg