So, we’re about to have another recession, this time because of COVID-19? (You might say something very fundamental is happening ‘down under’.)
OK Treasury-Govt, let’s support people then, and you can’t go wrong ……………….starting with Newstart. That ain’t socialism; it’s common sense.
That’s also the best way to help businesses, BTW.
It’s way beyond time, anyway, COVID-19 or not.
It might also be time to revisit the Henry Tax Review, because if the repetitive recessions inserted into the economy by bursting land price bubbles are taken into account, we’ll find deadweight losses are extremely BIG! Viz, $2.34 for every dollar of tax withdrawn from the economy – and rising!
I reckon my conservative real estate valuer approach is superior to any paltry mathematical attempt I’ve seen from economists. It’s a realistic overarching analysis up to 2006 only; so it now underestimates the rate of the devastating socio-economic deadweight losses from conventional taxation –> https://thedepression.org.au/why-economies-are-failing/