What I think about the Budget - 2012

I feel that there is a need to balance the argument regarding what is or isn't middle class. I can tell you that as a middle income family with two incomes and a modest mortgage we get nothing from the government in terms of welfare (which I am not complaining) but now more taken out of our pocket by this budget. The cost of living and the expensive real estate, there isn't a lot of disposable income left for consuming. 

Unfortunately for us, the government has no idea who is rich and who is poor but spends billions trying to differentiate between them. The poor is those who are really those in need. But how do you define most in need? Is it the $200,000 per annum taxpayer running four investment properties at a loss of $20,000 each (effectively making their taxable income about $120,000)? Is it the self employed cleaner taking $500 a day in cash but only declaring $100 to the ATO? I really pity those who really need it.

The heart of the problem is cost of living pressures which this budget does nothing to address, in fact only worsens the problem! The cost of living pressures affect everyone. 

I often hear comments where interest rates shouldn't be lowered as it affects all the savers and self-funded retirees versus the mortgage holders screaming for relief. Either way its a zero sum game with winners and losers no matter which way rates move. The real issue is cost of living.

I would have liked to see this addressed through the budget rather than just a cash splash for those who are elgible. How about some real structural productive reform?

Get rid of all this garbage, stop churning our money and redistributing wealth - reduce taxes, reduce red tape, we don't need to be taxed of the level we are when we then have some returned to some of us. Stop 'taking care' of people who don't need it. Let us take care of ourselves, all that would take is to stop constantly reaching into our pockets!

I am sure I am not alone when I say I am sick of of government gouging oil companies, greedy supermarket organisations, etc..all with their hands constantly in my pocket. Where has the value of being successful in this country gone? It is no wonder I feel like abandoning my career, have 10 kids, cashing in my property and living in my caravan. It appears to me that the less I am willing to contribute to society's prosperity and success, the more money the government will throw to me.