The Forum > Article Comments > The wrongs of an inequitable budget > Comments
The wrongs of an inequitable budget : Comments
By Tristan Ewins, published 16/6/2014In a practical sense that must mean a decisive break on the part of Labor with the mindset of 'small government'.
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We have a case where around 40% of guest corporations/multinationals, many with budgets larger than many sovereign nations, pay no company tax to anyone; and 95% of corporate Australia have offshored their operations, to avoid tax.
Simply put Tristan, a UNAVOIDABLE flat tax ,would bring these groups back into the fold, to once again pay their fair share of a common burden.
And that number would be very much greater than the combined total of our current tax collections from all sources!
In a 1.6 trillion dollar economy, an 18% unavoidable expenditure tax would raise some 380 billions.
Including the domestic avoiders as well as the aforementioned, would more than triple that number; meaning, the actual % number could come down and down, and moreover, be collected as the only tax impost needed!
Meaning, fuel excise, the GST, payroll tax, PAYE, PAYG land tax and all the convoluted complexity could all go.
The tax rate could then be varied microscopically to alone control all inflation or stagnation, and simultaneously where deemed essential!
The huge new surpluses, would enable welfare to be virtually doubled in return for the end of unfair dismissals; mean, every Australian citizen, would be better off, as would the currently struggling non-mining economy.
We with one single exception are the most over-governed people on the planet. Reducing the number of political and bureaucratic burdens, could save as much as 70 billions per, and would see the economy respond, by creating many more jobs.
The second part of the picture Tristan is the roll-out of cheap energy.
We have enough thorium to power the would for 700 years?
And the fact that the successful prototypes have maxed out at around 50 MW, means they will need to be numerous.
Not a problem for plants that can be massed produced and then trucked to almost any suitable location!
A feature which would end the need for a huge national grid and huge national losses, and indeed, the cheapest energy provision anywhere!
Rhrosty.