I know it is extremely simplistic but if we want to get back some control over our own economies we must stop the rorting with those tax havens overseas.
Be a citizen of a country & have a business in that country & make your money in that country. Foreign investment is not an investment at all, it's stealing from us & taking somewhere else. No wonder foreign companies can grow so obscenely wealthy if the traitors in our midst are selling us out at every turn. Globalisation is & will very soon prove to be the worst economic stumbling block for this Planet. As soon as India for example has the living standards of the West the West will go into steady decline. Australia will be the leader in decline due to the false security mentality of so many.

Indi, a true transaction tax would put a stop to foriegn owned companies taking untaxed dollars out of our country, as their money would be taxed at each and every transaction, including shifting it from on shore to off shore accounts.

Of cause there would be no company or income tax, so taking their money off shore would have a limited upside for them, as would would indeed become a tax free country of soughts, as all any single person or business would every pay is about two cents in every dollar. Nothing to cheat there amd even if they still wanted to they would have to pay this tax. No escaping it.

As for globalization, we would have to allow our lifestyles to take a huge backward step because we rely on the rest of the world far more than they rely on us.

That's just not going to happen, unless it is forced upon us.

Individual and Rechtub it is much more complicated than the totally different issue of tax.
Consider this, if we left our existing trade agreements would we retain those markets?
It is unlikely at best.
As the world trading system tightens its grip, far more likely than the reverse, could trade barriers be used against us?
We would benefit hugely if true free trade in our farm products existed but a degree of protectionism stalls that.
The issue and its questions is complex and impacts of going it alone not fully understood.

While tax havens have little to do with the subject, international firms avoiding tax has a finger hold on this subject.
Taxation reforms have been put up before here.
Consider if we drafted an Australian tax retaining law on over seas firms.
That would fair or not, see us charged with restraint of trade in international forums.

Belly,
I agree with what you're saying but I must stress that this is under present conditions. The thing is nothing will ever change with these conditions. We must work on changing these conditions so that we can change all other conditions as well.
Of course it's so easy for them to pull the wool over our eyes by saying that's the Law. Well, change the god damned Law, it's not working very well is it ? Star with a flat tax, do away with this criminal negative gearing crap & overseas bank accounts. Australia would be in the best placed position of any country to make a move towards getting away from the system we have now. If China wants our resources we give them a price & they can take it or leave it. Same goes for our bureaucrats. This is what we pay & if it's not enough for you find another job. We must have a referendum on Public funded wages. If we don't then I suppose it'll just be a lot worse when then crunch comes then it would be if we addressed it now.
To own land in Australia you must be Australian. To own land in China you must be Chinese. Where's the problem ? The problem are those Australians who get so money hungry that they'd sell to the Taliban if the got an offer.

But Indi we dohave a flat tax rate for business and it is they who place their funds in off shore accounts to avoid that tax.

As Belly says, tax their profits before they go off shore.

There have been many scams ove the years, ome such being a huge meat exporting company, American owned a that.

They would process here and sell to their off shore company for about one cent profit, just enough to keep the wheels turning. The off shore company would then on sell and claim the real profits, but pay tax OS or not at all. Eithe way we missed out.

The problem we face however is would this scare foreign companies away, because lie it or not, we need foriegn investment because our population is simply too small to develop and inject much needed capital. It's a catch 22.

While I am pro forieng investment, what I am against is froiegners simply buying the keys to something. They should be made develop here and employ our people. Again, a catch 22 situation.

This is why I think we need to reform taxes, because it will tax any transaction in Austrailia and reduce the tax burden on everyday employees giving them much more to spend. The best stimulant you can get.

It's a catch 22.
rehchtub,
it is my belief that this is one of the most successfully indoctrinated fallacies. We knock back genuine & qualified immigration applicants who would be an instant resource to Australia. Instead we let ourselves be dictated into accepting so-called refugees whose only qualification is to spread superstition & a detrimental one at that. Do you realise how difficult it is to obtain even just a visitor's visa to Australia ?
We must stand up to that parasitic outfit that is the UN, tell them to look after the refugees they largely helped to create & let us import creative & useful people who won't be a burden to our over-burdened social security system. Instead of displacing refugees on the other side of the planet we could have great industry in supplying materials & commodities to them. The monies need to spent anyway if we want to call ouselved half civilised, we need to provide assistance in practical terms not simply throing money that we desperately need at some superstitious warlaords whose only ambition is to see us annihilated with the help of our own money. It can be done & mor likely than not will need to be done as we're running out of options. One the options is to change/curb Globalisation. Don't let the greed mongers tell you it's not possible just as a hardened criminal would tell you jail is not the answer. Put on your thinking caps.