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The Forum > General Discussion > Dr Michael Hudson & Keiser.

Dr Michael Hudson & Keiser.

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Pericles,
What you are doing is putting prices & costs on the table which are due to the present system. I'm convinced that if there were a flat tax those 6 dream liners wouldn't cost a billion in the first place. There wouldn't be any as you say different tax rates for different businesses. Earn pay 10%, spend, your buyer pays 10%. Government gets 20% of every dollar. Period !
Public Service pay ceiling under the present conditions should be $150,000.-
The PM & Ministers, Premiers & ministers are now paid way too much.
CEO's get fortunes for failing miserably. It's a dead loss all around, a loss we can no longer tolerate.
Posted by individual, Friday, 24 May 2013 7:33:04 PM
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So your saying, individual: I should be paying tax on my gross income and not on my net income? I should be paying tax on wages I pay to my employees as well as them paying tax? If I buy them toilet paper, I should be paying tax on the money I spent on toilet paper?

It's bad enough with the red tape/bureaucracy/fees/taxes/insurances/arse wiping employers have to go through now and you want us to pay taxes on losses? Who in their right mind would start a business under those circumstances? Many are getting out now because it's just not worth it anymore in this country!
Posted by RawMustard, Friday, 24 May 2013 8:28:00 PM
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The basic question is why new money is created from nothing and should it be done by an elite few private individuals?

We now have a $1.5 TRILLION economy.With 3% growth + 3% inflation new money added to our economy is $90 billion pa.Our banks cannot create all this money so a large % has to borrowed OS.Add into thd mix the fact that 40% of banking shares are owned by the likes of HSBC,Citibank and JP Morgan this country has a serious debt problem.

If even your inflationary money gets created as debt,imputs in terms of loans will always be exceeeded by out goings interms of principal + debt on money for growth + inflation.

Dr Michael Hudson visited our RBA back in 2009 and asked them why cannot they create some money for our banks.He got nowhere.

Why cannot the RBA create just our inflationary money of $90 billion per annum.Just on inflationary money we lose our 3 times.First on the depreciation of our currency,then on repaying the principal and last repaying the interest on what is rightfully ours.

We could reduce taxes by over 50 billion pa or have debt free infrastructure.Gillard did not have to borrow $40billion from China,the RBA could have done it.

All immigration should stop until this banking mess is sorted,since under this present system,the more growth we have,the more debt we incur.It is a rort by private banks that must end.
Posted by Arjay, Saturday, 25 May 2013 8:34:35 AM
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Correction ,that inflationary money is about $50 billion pa including interest.
Posted by Arjay, Saturday, 25 May 2013 1:17:19 PM
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Many are getting out now because it's just not worth it anymore in this country!
RawMustard,
I would too in a moment if I could find a country that takes in near pensioners. re the tax on toilet paper for your employees, as I said you buy something you pay 10% GST no if's no but's.
Who would you expect should pay it instead of you ? Gross income is the only income because net income is your profit. It's not that you're not passing on your expenses to the customer already. We all have expenses business or no business. Wring things off is asking the taxpayer to pay for it, that's morally wrong. Like the electrician in our community who writes off his fishing fuel as business expenses. How many such business people do you think there are & costing US. Not very economic at all.
Posted by individual, Sunday, 26 May 2013 7:49:36 AM
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That's an interesting thought, individual. Can you back it up with some simple calculations?

>>I'm convinced that if there were a flat tax those 6 dream liners wouldn't cost a billion in the first place.<<

Or if the sums are difficult, just point out a) the manner in which a "flat tax" will make the Dreamliners cheaper and b) what impact a "flat tax" has on government revenue.

Maybe the answer is here:

>>There wouldn't be any as you say different tax rates for different businesses. Earn pay 10%, spend, your buyer pays 10%. Government gets 20% of every dollar. Period !<<

But the para seems to be lacking a couple of verbs here and there, so it is difficult to find out what you are suggesting. Is the 10% supposed to be GST, or something else?

>>Like the electrician in our community who writes off his fishing fuel as business expenses.<<

You can't support your stance using illegal activities as your evidence. Legitimate business expenses are the bedrock of a company's profit and loss account - you cannot expect any business to survive if it is required to pay tax calculated on revenue alone.
Posted by Pericles, Monday, 27 May 2013 9:41:34 AM
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