Greens Bandit calling for 40% corporate tax rate., page-69

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MTX2000

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01/02/22

09:53

Post #: 59265001
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Originally posted by moorookamick: ↑

The tax issue for Aus going forward is:
(1) our combined Governments' debt is $1.5 Trillion and rising at more than $1 trillion a year.
(2) the Government collects about $500 billion a year in tax revenue.
(3) this shortfall of $100 billion + accrueing interest on debt has to be paid now (or more in the future)

So could those who object to the following tax options, please offer alternatives to yield $100 billion + P/A of extra tax:
-wealth tax
-collection of corporate tax
-inheritance tax
-removal of the 50% concession on CGT
-removal of franking credits

The increasing of GST would unfairly impact the poor and the bottom quartile of wage earners
whose standard of living is in reverse while Billionaires have doubled their wealth over the past 5 years.

Individuals already pay 3 times the tax that Corporations pay at present & Corporations dont pay GST....just collect it.
This is why the BCA has been advocating an increase of the GST !

At some stage of national debt we will have to stem debt accrual and pay it down rather than run the risk
of loosing our national sovereignty when the IMF/World Bank & Wall St step in and dictate tax increases
as they did in Europe (IMF/EC/ECB) from 2009-2016 & Greece might be still under their control.

In Ireland for example , the Troika imposed Universal Social Charge (USC) of 2010 still continues at 4.5% above the normal PAYE tax rate!

So the question is:
Do we take a tax hit now for the country or do we wait until outsiders give us that hit by deeming that
we are economically incompetent and dictating our tax rates & budgets ?

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For a start we could get rid of the spend it like you stole it attitude we seem to have developed over the last 2 years.
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