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The Forum > Article Comments > The big election myth - is the economy strong? > Comments

The big election myth - is the economy strong? : Comments

By Valerie Yule, published 24/10/2007

Almost all voters believe that Australia has a strong economy, but the full picture may tell a different story.

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Why do we have this myth that governments are the only ones to spend taxes. For a large number of things we can be given taxes as long as we promise to pay for such things as "health". For example instead of joining health funds and having bulk billing everyone gets some money that they have to spend on health. If they don't spend it then they get to keep it for next year. This would in one stroke "solve" the Federal/State funding of health issue. Of course it is more complicated than this but the principle still holds. Give taxes to people and let them make the choice but direct where the money must be spent. We do it for superannuation - why not health?
Posted by Fickle Pickle, Thursday, 1 November 2007 10:05:46 AM
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Yabby “Given the low level of manufactured exports and everyone crying that we need
manufacturing industry to export, why are we charging them extra taxes?”

Actually the problem is Australian government interference in commerce remains crippling.

FBT is a spiteful tax which requires extensive calculation for little revenue.
GST is clumbersome, when compared to the equivalent taxes in other countries (although it is better than what it replaced).
Personal Income and Companies Income Taxes are ambiguous.
Stamp duties and other state taxes continue being levied, when they were supposed to have been cancelled due to GST.
Payroll tax directly burdens employers for employing people.

Without seeking to alter the overall level of taxation to all collectors, state as well as federal or to favour different sectors of the population (rich v poor), I do wish to see a profoundly simpler system of calculation, which would benefit all and would make evasion (through the loopholes of complexity) a more difficult proposition.

Neither side of politics have grasped this nettle and it is now well overdue to be weeded out.

I am in favour of small government. Fewer “directed injections” of grants and government funds, which means lower taxes needing to be collected.

I am against the idea that government should plan economies simply because they are not omnipotent and have not developed the culture of risk which is the hallmark of real entrepreneurs.

Government should track economic trends and regulate to deter corrupt practices (ACCC, companies reporting requirement, oversight commissions etc) but government should not seek to set up their own monopolies or compete with commerce or attempt to hold the conflicting dual roles of “partisan competitor” and supposed “impartial referee”.
Posted by Col Rouge, Thursday, 1 November 2007 7:26:01 PM
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