Well, the question is - who is spending more, and who is spending less? Maybe there is a cost of living crisis for some people, but it has been more than compensated for by the spending of others who are not suffering under such a crisis.
Yes, that is the nub of the problem. The economically disadvantaged, unemployed, disabled, or mature with no Superannuation, are always going to be at a significant financial disadvantage to the affluent self funded retirees and the high income earners. This is why using interest rates doesn’t work.
Once upon a time, Australia used taxation rather than interest rates to slow down the economy. Such a policy would have more impact on the wealthy with spare cash. A more complex version would be a "diversion" ( not tax so much ) set aside, to be refunded by the RB when a stimulus is needed.
Once upon a time, there was only PAYE tax. Governments have a huge appetite for revenue, so they introduced gst, stamp duty, excise tax, land tax, CGT, provisional tax, super tax, etc. Proof that Governments are inefficient with money and create the problem they try to fix.
I’m sorry, but that is quite wrong. There has always been a range of taxes, most of which you never saw. When the primary tax was income tax the brackets were much higher, from memory up to $.71 in the dollar. The neoconservatives have progressively wiped out the brackets and lowered the rates.
No that's not correct. My first pay was in 1968, only paye and provisional taxes existed then and at lower rates. As government expenditure increased more than revenue then other taxes were introduced. Only wholesale sales tax was dropped, but gst made up for it 10 fold. Welfare did not exist then
Thanks so much. It's a great read! I will add that taxes must now increase considering welfare (including NDIS) is now 45% of entire expenditure budget!
Thanks, gracious of you to be positive about this. While we might differ - I agree with the *principle* of NDIS - I'd imagine that we both agree that it ( or at least has been, till recently ) wasteful, and could do with significant improvement in how it is managed & money spent.
I can never understand payroll tax, a tax on employment, really. That's why most companies use contractors. Btw governments outsource most services. Centerlink was once government run and has now made some service providers millionaires.
OK, I'll point out that I, johna am John August of Pirate Party Australia. I was involved in the preparation of a position statement on bureaucracy, which included mention of, and our support for, the CES : https://pirateparty.org.au/wiki/Position_Statements/Government_Bureaucracy_Rent-Seeking - vote with your preference, but maybe of interest #auspol
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