The Forum > Article Comments > The RBA a fine institution but could do better > Comments
The RBA a fine institution but could do better : Comments
By Nicholas Gruen, published 21/6/2012The RBA runs like clockwork, but perhaps something less metronomic is required from time to time.
- Pages:
-
- Page 1
-
- All
- Pages:
-
- Page 1
-
- All
If we could but completely reform and vastly simplify the tax act, to in effect, impose a single stand alone unavoidable expenditure tax in exchange for a complete repeal of all the current complexity we call a tax act, we could do a number of things.
The first would be to entirely remove any need for compliance or the costs of compliance, which currently rips an averaged 7% from the averaged Australian based bottom line.
A single stand alone tax, can then be very marginally adjusted to alone control/remediate any inflation or stagnation in the economy! And region by individual region, when and if necessary.
Meaning, the RBA would no longer need to adjust interest rates, which instead, could be progressively reduced until they acted to really power up a still inflation free economy; or, those parts of it currently in the doldrums.
Rhrosty.