A stroppy Snowcone melts down on Frydenberg while Palmer is in a league of his own
The ABC’s Tony Jones throws a tax tanty as Clive Palmer is caught on the hop.
The ABC’s Tony Jones throws a tax tanty as Clive Palmer is caught on the hop.
What’s with this accelerated depreciation lurk? Tony Jones to Josh Frydenberg, Lateline, Wednesday:
It’s totally uncapped, is that right ... You could have multiple $20,000 purchases ... What’s this going to cost? Do you have any idea at all?
Frydenberg responds — and offers a lesson in Economics 101:
The total package for both small business and jobs was $5.5 billion ... But you have to understand that if more people go out and buy ... this will actually have a positive spin-off in other parts of the economy.
Snowcone Jones is having none of it:
And it may well do that but let’s just look ... It’s revenue the government would otherwise have got, that you would have expected to get, and now you’ve got to give it back.
Frydenberg tries:
It’s revenue that is forgone but at the same time maybe that purchase wouldn’t have taken place.
But nothing can stop Snowcone’s sophistry on case study Sam:
Jones: How many small businesses are there ... in the country?
Frydenberg: Well you know there’s over two million small businesses ...
Jones: Right.
Frydenberg: ... and they’re employing 4.5 million people, so it’s the engine room.
Jones: All I want is the number. So, if every one of those two million did what Sam did, that’s $10bn you’ve written off in your tax, isn’t it?
Frydenberg: No, look, you can try those sort of games tonight, Tony.
Jones: It’s not a game, this is mathematics.
There are all these clever people in a big building in Canberra called the Treasury, Tony, all armed with calculators. Frydenberg explains:
They do these equations — for example, right now, the accelerated depreciation is at $1000. We’re putting it up to $20,000, so the same data that they did the estimates for on $1000, they extrapolated to do it for $20,000.
But that doesn’t satisfy Snowcone:
It’s true to say you’re taking a risk to try and stimulate the economy, isn’t that correct?
Frydenberg stands firm:
I think the risk is all on the upside.
Memo to Frydenberg. How you’re supposed to treat Snowcone. Clive Palmer, Lateline, February 2, 2012:
You know, you’re one of my greatest heroes when it comes to the journalisms (sic) in this world and I’d only ever aspire to be half as good as you are. So that’s — you’re one of the few journalists left. You’re the last sentry at the gate of journalism in Australia because you’re a person who does verify, does do your research, does ask the leading and probing questions and does care about the results. So that’s the sort of example we want.
Mel? Palmer probably pronounces “maroons” the same way as Kevin Rudd. Media release, yesterday:
Team Lazarus will follow a tradition of sports-related failures in politics like Mel Meninga.
Johnny Depp’s dogs? Recall the frogs? The Age, December 14, 1978:
Twelve African bullfrogs had a short life in Australia this week. The frogs, part of the entourage of president Omar Bongo of Gabon, were found in the hold of the presidential jet when it landed at Sydney Airport ... Embarrassed quarantine officials had to inform the … president that the frogs … would have to be destroyed. Which must have caused the president some pain as he had brought them all the way from his West African republic to be served at the dinner table.