You posted; "Firstly apart from the mines hardly any wealth has been created. Via Oz QE thanks to the left an asset bubble has formed again in areas like housing which for some seem to indicate wealth creation. ..."
Although some need qualification, you've made some important points about wealth creation in that post.
Mining has been a big export earner for Australians but it has also sucked in massive amounts in 'investment' that incurs ongoing expenses [eg. that are charged against company tax returns and thereby minimise government tax revenue]. There is also the issue of flogging off valuable mineral assets for peanuts; as with the carve up of assets from the former Oxiana and Zinifex.
Your post also ignored what was our third largest export earning sector, Education. Abbott's treatment of it is very different to his lovey-dovey approach to big mining companies that bankrolled anti-Labor advertising prior to the 2013 Election.
Agricultural exports should also experience a rebirth as nations like China and India open their mouths ever wider.
Bio-medicine is an emerging winner for Australia but public support is needed NOW; not from a Medical Future Fund in 20 years time! As for knee-capping the CSIRO; ....
Which brings me to your comment on the redistribution of wealth and the creation of asset bubbles in Australia. Abbott is brazenly redistributing wealth from the vulnerable and needy to those who are already wealthy:
Nor has Abbott's budget done anything to address the rampant abuse of our tax system by armies of accountants acting to reduce multimillionaires tax obligations - it's obscene when 75 such people pay NO tax at all.
