Power Raid
We Exist To Win Premierships
It's hard to appreciate what that number actually represents
-
-
AFLW 2024 - Round 6 - Chat, game threads, injury lists, team lineups and more.
Debt and Deficit - Coalition Budget Emergency
- Thread starter yibbida
- Start date
- Tagged users None
It's hard to appreciate what that number actually represents
TheHateful62
Rookie
- Jan 20, 2016
- 22
- 14
- AFL Club
- Richmond
"The British Virgin Islands, with fewer than 25,000 inhabitants, hosts over 800,000 companies."
Nicholas Shaxson in his book "Treasure Islands: Tax Havens and the Men Who Stole the World"
http://www.pagetutor.com/trillion/index.html
Nicholas Shaxson in his book "Treasure Islands: Tax Havens and the Men Who Stole the World"
http://www.pagetutor.com/trillion/index.html
Some was I think. I had a separate super account from my brief moment of glory in the public service.
Why? They are rather different. Unless you are a fanboi of the Jew hater then its not hard to see that increasing tax on consumption and lowering it on incomes is a good thing to do.
Just as its not rocket science that imposing a carbon tax was economic stupidity given our reliance on natural resources.
- Banned
- #2,629
Australia has a far greater reliance on the service sector.
A rise in the GST will cripple growth
Power Raid
We Exist To Win Premierships
By raising the GST and broadening it's base, it will hurt economic growth as there will be a reduction of consumer spending. This in turn will impact small business who will have to dedicate more time on applying the GST to their goods and services, impact their margins and likely see more closures, resulting in higher unemployment, which in turn will hit consumer spending even further.
It's a no-brainer.
Why didn't it the first time then ie when offset by tax cuts? There isn't much evidence to suggest it would cripple growth, maybe a temporary decline offset by longer term growth above trend.
Still I agree, there are other things that could be done, like sacking of public servants that add nothing to the economy but are a drain on the taxpayer.
Tim Wilson is a great example. Circa $400k plus expenses. Sack him and abolish the commission. It really isn't that hard to find places to cut spending.
Maggie5
Moderator
- Moderator
- #2,633
I think that that the economic circumstances were different then (stand to be corrected).
Unemployment figures were similar to now but the economy was growing. Manufacturing was strong and mining industry was growing, where as now manufacturing all but gone, mining down and growth is down over all compared to then.
Not sure how much time you spend in OZ but confidence is really down, especially among the self employed and small business.
They still have unemployment at over 11% & the associated under employment.
So the Tax haven isnt helping a lot of people. Except maybe our PM.
Because cutting spending causes more economic damage than raising taxes does.
You are right though about certain departments should be gone.
I have one already - the right-wing Productivity Commission.
Oh the humour. You may even actually believe that.
Jeebus next thing you will tell me the Jew hating pervert actually made sense re digging holes, paradox of thrift and insufficient demand.
Two or three trips a year. Perth was noticeably quiet last time I was home. Its hardly surprising: a once a century mining boom has ended.
Idiot politicians like Wayne Swan extrapolated the good times in to infinity. Delusional thinking kicked in (eg house prices in Margaret River, thinking that $100bn on a NBN was actually worth doing)
Now reality is kicking in its just that plenty haven't recognised it yet. The real pain hasn't even started for Australia yet.
Maggie5
Moderator
- Moderator
- #2,637
Which is why it is not the right time to expand and increase the GST.Oh the humour. You may even actually believe that.
Jeebus next thing you will tell me the Jew hating pervert actually made sense re digging holes, paradox of thrift and insufficient demand.
Two or three trips a year. Perth was noticeably quiet last time I was home. Its hardly surprising: a once a century mining boom has ended.
Idiot politicians like Wayne Swan extrapolated the good times in to infinity. Delusional thinking kicked in (eg house prices in Margaret River, thinking that $100bn on a NBN was actually worth doing)
Now reality is kicking in its just that plenty haven't recognised it yet. The real pain hasn't even started for Australia yet.
This government has not improved matters either. No excuses either please.
Sometimes one needs to look at things through the eyes of others and not on ones own circumstances.
Puts things into perspective.
Excuses? Pffft. Turnbull needs to grow a pair and start slashing spending. Abbott made a timid start and then pathetically backed away.
Australia is running a decent deficit and we aren't in recession. Once thing gets worse on the back of China Australia will have a very large deficit and you know what the first thing they (any federal govt) will do?
Increase the GST because its the easiest thing to do (see UK as an example and Europe). Tax rises on the rich pointless as they wont raise any money.
So if you want to look after the poor, you want spending cut now otherwise they will cop it worse down the track.
Maggie5
Moderator
- Moderator
- #2,639
Increasing GST is lazy! Australia for some years has had a revenue problem and both parties need to look at and bite the bullet on Super, negative gearing and legislation to catch those companies that are not paying their fair share tax.
Once the MV industry shuts down this year many more jobs will go, not sure that the 'smart industries' will pick any of those people up.
Can't see the point of increasing the GST and supposedly compensating low income earners, this will just increase welfare recipients which in turn will increase spending on education and health.
I thought that the Libs were the better money managers and stimulating the economy, haven't seen it yet and first term is almost over.
Perhaps they have spent too much on security and Asylum Seekers?
Last edited:
They tried to cut spending and the whining was too much (how dare you charge me to go to the doctor, pretty shameful stuff). Too many people out there who thinks life owes them a living and think that this can all be solved by taxing the rich and companies that "don't pay their fair share". Reality isn't like that. Cutting tax breaks on super is one thing they can do which will bring in big $. Super is and has always been a farce.
Agreed re illegal immigrants, huge waste of cash. Simply announce we take zero. Big saving to budget, common sense.
Companies can avoid tax by spending instead on political advertising
- why not just pay the tax?
Scott Morrison's tax advisers want public 'educated' on low corporate tax
Read more: http://www.theage.com.au/federal-politics/political-news/scott-morrisons-tax-advisers-want-public-educated-on-low-corporate-tax-20160127-gmf9d1.html#ixzz3yapLvtAH
Follow us: @theage on Twitter | theageAustralia on Facebook
- why not just pay the tax?
Scott Morrison's tax advisers want public 'educated' on low corporate tax
Read more: http://www.theage.com.au/federal-politics/political-news/scott-morrisons-tax-advisers-want-public-educated-on-low-corporate-tax-20160127-gmf9d1.html#ixzz3yapLvtAH
Follow us: @theage on Twitter | theageAustralia on Facebook
JoseMourinho
Not A Manager
Maybe it is to explain to some people that flat tax rate of 30% on corporate tax rate isn't necessarily the effective rate? Considering the people going on about certain companies paying little to no tax who do not read the annual report and just conclude that they are tax dodging.
it is a great idea to tell people that the 30% tax rate is not necessarily your effective tax rate.
The Tax Expenditure Statement released during the week should be good reading for any discussion regarding tax reform.
Included is the idea of changing Capital Gains Tax on the family home, particularly those selling over $750k.
Included is the idea of changing Capital Gains Tax on the family home, particularly those selling over $750k.
I take it stamp duty will be dropped then? Otherwise its just double dipping. That change, if fair and not a govt rort, would make the economy more agile. Easier for people to move around and change residence
When government awards contracts to corporates, should they take into account that a company is avoiding tax?
For that is what they are doing, and the advertising campaigns are all about shifing the tax burden onto working individuals.
Make no mistake about that
People like that are out to erode soceities values, except the people like that who tony knows are OK.
Lets not forget tony adopted out his first born, yet they were always being snide about gillards 'morals'
- Sep 19, 2007
- 19,264
- 17,822
- AFL Club
- St Kilda
- Other Teams
- Anaheim Ducks, PSV Eindhoven
Actually he didn't, the kid wasn't his (although he didn't know it at the time) and I'm not sure he had any say in the matter.
You could be right, even if your sentence makes no sense
It wouldn't be double dipping as stamp duty is part of the property's cost base when you calculate your capital gain.
