Complaints have increased to voluminous levels across Australia’s social media, talk radio and TV reports about the damage various government programs and charges have been doing to families and to small businesses.
Behind this outcry, in my opinion, are our unsustainable mortgage and personal debt levels.
Maybe if we were to revisit the Henry Tax Review? It suggested we retain four taxes, only: Income tax, the GST, land tax and the mining tax, and abolish all other taxes altogether. There are more than one hundred of these.
Wouldn’t efficiencies from this sort of tax reform be likely to go a long way towards lowering household levels of debt?
Of course, there’s a great similarity to the parlous situation of Oz if we look abroad. People everywhere are getting pretty pissed off about their incredible cost-of-living.
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I’ve developed a theory that Jacinta Allan is responsible for the world’s socio-economic mess. You know, just as Gough Whitlam was for the collapse of world markets in 1973. She’s probably working in cahoots with Anthony Albanese!
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