According to the Australian Debt Clock, Hockey is racking
up national debt at a higher rate than Swan.
Swan racked up $280 billion debt in 6 years - average $46.6 billion/year
Hockey has added $120 billion debt in 18 months which is an average of $80 Billion a year.
http://www.australiandebtclock.com.au
It is what it is and spin to hanging tales on donkeys won't help.
The answer is higher taxation now and not later.
This Government has cancelled/changing 3 forms of potential tax revenue
-repealed the MRRT (big miners paying less tax)
-repealed CO2 tax (Polluters paying less tax- Electricity bills only went down with drop in
price of oil/coal; not due to the removal of CO2 tax)
-reducing company tax by 1.5% July 1st (dropping from 30% to 28.5%)
This is precisely opposite to what the Government should be doing while racking up
$80 billion a year in debt.
Moorookamick
reply here Well tax it an it will grow is a proven failure---when one kills the golden goose revenue fails--economics--101--ask yourself this--would one invest in companies with60% being taxed ????????????????
