Iron Ore Price, page-1071

CK

May budget will be interesting but painful.

Watch out SMSF tax & rule changes and tax hike for middle to high income earners.

What we need (apart from recovery of IO price to recover lost company tax revenue) os some hard decisions to be made.

GST when introduced was supposed to be a catch all, and would have applied to all goods and services, but at the same time do away with payroll tax, land tax etc.. but a little Senator from Tasmania stuffed that up.

We now need the GST to apply to all goods & services, food & health included, this would make the collection & compliance. The rate can remain at 10.00%, with the welfare recipients receiving an increase to their payments to offset, then welfare payments indexed to cpi.

GST is the fairest tax system based on a user pays principle and in the future after budget deficit is bought under control income taxes can be reduced to spur investment & growth.

Trouble is our political system is based on 3 year terms, with their concern being to get themselves voted back in rather than make and implement sound policy.

Never the less our true leader, Jackie Lambie would veto it.

I heard on the radio, she has registered a new political party "Jackie Lambie Network" (how vain and God save Australia.