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Tobacco tax
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You say << I believe Australia does have a AAA rating and is known to be one of the most economically sound countries in the world at present >>
If you know something we don’t about the value of the AAA rating to Australians we would love to hear it, (I’ll give you a clue, “borrowings”), otherwise you too have the opportunity to answer the question I put to Belly.
“Would this be the same AAA rating that Lehmann Bros, Italy, Spain, France and Ireland had just before the GFC?”
In response to your comment that Australia is “known to be one of the most economically sound countries in the world at present”.
Really? Would these “other countries” to which you refer be previous owners of the much vaunted AAA rating and are now broke?
Here’s a little story for you.
Once upon a time Suseonline 1, had $94 on her credit card, she not only paid off her credit card debts but she also spent less than she earned for 10 of the 11 years (surpluses). She was so good at managing her finances she managed to save $70 for her future and saved $22 in her deposit account.
Suseonline 2 however, has spent the $22 she had in her deposit account and in just six years, dipped into her saving for her future and has put $350 on her credit card. She has never spent less than she earned and will continue this tradition for at least another four years and is forecast to run her credit card debit to at least $400. Her domestic income is shrinking, the house if full of useless “investments” that generate no income, these are a now a financial liability and now she wants to blame Suseonline 1 for her problems.
Which Suseonline would you prefer to be?