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The Forum > Article Comments > Reducing subsidies or 'savings' are code for increasing taxes > Comments

Reducing subsidies or 'savings' are code for increasing taxes : Comments

By Mark Passfield, published 4/3/2016

The reality is no current Government has the political will to outrightly state they are going to increase taxes.

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We are just one country with one single economy! Harm any part of it, and you harm all of it.

As was the case, when really dumb policies literally created the great depression, that hurt the formerly wealthy and privileged more than those dirt poor folk accustomed to poverty and living hand to mouth by the sweat of their brows!

Real and long overdue real tax reform would likely destroy the incomes of many comparatively powerful people and force tax avoiders, all of them, to pay their way, instead of leaning on other folks and bludging on the public system!

And scream the house down, [what makes you think and where did you get those numbers etc? Ad nauseum!] when anyone suggests something as simple as a single, stand alone expenditure tax, would actually collect more revenue all while reducing the average tax impost!

And given there would be no need to reconcile the books, or factor in cost structures as a means to limit tax outlays, completely remove the reported tax compliance costs, that rip a reported 7%( averaged) from the bottom business line! Which would be significantly improved as the first consequence.

And yes, most tax practitioners, would be along with an ATO, be made redundant! Hence the screams and inevitable, howled disingenuous and mendacious obfuscation

Even so, the simultaneous creation of a brand new and franchised venture capital bank, ( Funded via the new surpluses we could create!) would create a purpose built instrument to house them and their often impressive number crunching skills and at something far more productive than massively churning money?

THe tax rate could then be microscopically adjusted up or down to alone and far more effectively and rapidly, control all inflation or stagnation; and region by region, if and as required.

Meaning interest rates could be left at historical lows to turbocharge the non mining economy!

Grow the economy a very broad based tax system as suggested, has no choice but grow with it all while permanently eliminating really harmfull bracket creep!
Posted by Rhrosty, Saturday, 5 March 2016 10:27:09 AM
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