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taxes

Trust me, I'm an economist


It seems that tax cuts are all the rage with the PM praising Trumps bold initiatives and vowing to push through similar (but smaller) cuts in Australia. Bill Shorten, while not opposed to this form of pea & thimble trick has tentatively suggested that the the government ought to say how these cuts could be funded. Well the answer is all there in the history books. Ronald Regan while not the first to use tax cuts was however the one who tried to justify it by claiming the cuts would so boost the economy that tax revenues would increase even more than the loss incurred by the cuts. It became know as trickle down economics which then morphed into voodoo economics when it was found that the national debt had doubled. To his credit John Howard learnt two things from this débâcle - tax cuts win votes and any problems created will be inflicted on the next government.

Looking down the tunnel of the IGR to a poorer future

The Intergenerational Report's (IGR) predecessors assume that the answer to our future prosperity lies in the combination of population growth, productivity and participation. After an almost unprecedented 24 consecutive years of economic growth, we certainly have achieved population growth, productivity is declining, there's record high unemployment, but where's the prosperity?

Fire taxes and people taxes - population growth sure costs us!

Fire taxes and people taxes - Are we seeing the genesis of what could well be the next tax imposition for the people of Victoria to pay for the population growth that the state forces on us?

Melbourne Minister Madden makes planning policy on the run

For a minister who says he wants certainty for developers (but gives not two hoots for making everyone else miserably insecure) Mr Madden must be driving them mad as well. The GAIC tax is subject to endless jerky permutations and increasing secrecy surrounds it. The horror of it all is that this farce is what passes for serious business in Melbourne these days. It is like some faintly similar town, but colonised by alien planners and parliamentarians with agendas that have nothing to do with representative government. Perhaps if we knew what was really going on - something to do with finances perhaps - it would not all be so hard to read.

Vic Government takes a leaf out of King Herod's book

Michael Hocking of "Axe the Tax" writes "Brumby’s Labor Government is stealing our homes. If this tax doesn’t affect you yet, you need to ask 'What if they decide to do a similar thing to the homes in my area?'" The growth areas tax is to be imposed on land rezoned from rural to urban by a stroke of the government pen. Rates and charges for water and power as well as land will skyrocket with the rezoning, driving out any decent person attempting to preserve bushland or produce food or live out retirement on a fixed income. Hocking describes how farmers will not be able to afford to sell, because of the tax, but, when they die, their children will have to pay the tax - $95,000 per ha -. In a divorce settlement, the same thing will apply. What next? A tax on the head of each child?

Lindsay Tanner's Climate change balancing act

Lindsay Tanner knocks the Greens for disagreeing with Labor and failing to “build coalitions with others who have different views”. Lindsay says this helps prevent any action occurring. But if you know Labor, ‘action’ means more of the same: more population growth, more debt and more deals with the big polluters – property development and infrastructure expansion.

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