Yes, money does move from account to account! Often it's the same parcels of money, transiting through numbers of accounts, owned by the same entity; i.e., a parent and several subsidiaries.
This is yet another one of those creative accounting schemes, to make the banks, commercial lenders, believe that the businesses are all doing well, given the raw "cash-flow" numbers?
Or alternatively, allow the tax office to believe, that the outgoings are somewhat larger than the income or earnings?
The difference between a T.T. and an E.T, as I understand it, is the point of collection. Transactions are recorded as money goes in or out of any account, whereas Expenditure, only when it leaves an account?
I prefer an expenditure tax, given it almost exactly equates to the individual's or an entity's carbon footprint! The more money you spend the larger your carbon footprint!
Moreover, an expenditure tax, can be marginally adjusted to alone control all inflation or stagnation, region by region if necessary!
Meaning, interest rates can be adjusted downwards and then left at historical lows, to power up and turbocharge the non mining economy!
I mean, we will all too soon be faced with a post mining economy and need to create something far more rational and endlessly sustainable, that will grow and prosper future generations, even as the world depopulates!

The increased employment opportunities thus created would also increase the Govt's tax take and reduce the social security bill as people start earning again, another win win situation.

But hang on Den71, we are at almost full employment now. Apparently!

As for the mining boom, I don't think most realize just what impact mining has on us, as there are many side line businesses and contractors who, if not for the mining, would simply be out of business.

Besides, thanks largely to mining, wages are now too high for is to ever become competitive again.

I am afraid those days are gone, and to assume we can reignite our manufacturing simply by decreasing interest rates or increasing taxes on imported goods is all but a dream I am afraid.

No amount of tax will make up the gap between our wages and the two dollars a day many of our competitors pay.

Jobs growth as returning manufacture is continuing in America, given the cost of transport is proving more and increasingly costly, than utilising local labour? Moreover, the cost of labour in China is increasing with the size of their prosperous middle class.
Professional salaries in tiny resource poor Singapore are on average around 2.5 times higher than ours, and income tax hovers around 11%?
All made possible by the patent pragmatism of govt investments in a whole range of service industries, telcos, airlines, etc/etc.
Our manufacturing could be rescued by energy dependant high tech manufacture, tax reform/simplification and NBN assisted direct sales, which in many cases, will reduce the retail price by 40-50%, all while increasing volume and profitability.
What we need and simply cannot succeed and or compete without, is cheap energy!
We have as others have indicated, quite massive NG resources! In govt hands as the owner operator, prices to us, of what is still the peoples' property, could be reduced by as much as 400%.
Solar thermal projects, that supply power during the daylight hours, or peak demand, could come in at a lot less than coal fired power, as very large govt owned and operated projects; that tap into the economies of scale, that could and should reduce prices, all while rescuing the steel industry.
We can and should explore and mine the reef, at least the now dead parts, that can hardly be further harmed by exploration or exploitation.
If that then allows us to tap into quite massive, very low cost to us energy resources, which when substituted for current fossil fuel, will reduce our transport carbon output by as much as 75%!
And much much more when CNG powered, ceramic cells substitute for diesel electric and some coal fired options!
Who amongst us could argue against that?
Why. those in the employ of those with the most to lose, by the exchange, of course?
Rhrosty.

The problem we have in Australia is that we are unique, in that we have a very small population, all with huge appities for a lifestyle, which means, we rely so heavily on exports.

To keep exports strong, we need two things, a strong market and to be competitive, we don't have either.

In fact, take away mining and seriously, what is left.

As for us being a competitor on the manufacturing scene, every single cost we have, from extracting raw materials, to transport, to planning and manufacturing it's self, are higher.

This is largely due to our very high low skilled wages, as all other wages in the chain follow suit

We used to manufacture small items as well, whereas now days we develop prototypes, but the likes of China do the manufacturing.

TJM is one such example.

They used to have 60 odd on the production floor, whereas they now have two. They design and build a prototype and let China do the rest.

The only way we can become a manufacturer again is to completely rethink welfare, where every single, able bodied person on benefits works for them in government owned factories.

Fat chance though, as one, we don't have the capital to establish such factories, and two, the do-gooders won't allow it.

I am afraid we are a product of our own making, as when low skilled wages are so high, skilled wages become unaffordable for us to remain competitive.

We simply can't have it both ways, but then some of us knew that.