Hockey's latest rip off?

best way to balance the books is cut the wages of public servants

they already enjoy salaries much higher(30%) than the private sector and to top it off their supers are way more generous as well

then there is the low expectations for productivity as well

Kingpins, nor should we forget that John Howard's GST is the largest tax ever imposed on mainstrream Australians. Even after we've paid tax on our initial income we're then removed of another 10% of our hard earned every time we purchase something. As if that's not enough, if your SMSF includes a mix of cash investments and others such as loss making shares, they are taxed separately; with losses from shares not being counted against income from interest.

Does the same sort of regime apply to multinational corporations? What about profit shifting, tax avoidance by living in the havens like the Bahamas and the use of shelf companies etc? Well on Pages 116-117 of his MYEFO, Joe Hockey put those sorts of things in the too hard basket; that after all of the chest-beating we saw at the G20 meeting. As for how much tax is actually by paid by the likes of Apple, Google, Glencorp, ....

One of those values that define us as Australians is 'a fair go for all' and that's exactly what's not happening. Instead, regressive mechanisms such as increasing and extending the GST, double taxing of share dividends and $100k degrees are being devised to transfer the little wealth still in the hands of the not so wealthy into those who already have the overwhelming majority of it.