The Libs have added almost $100 billion a year of debt since late 2013
and uptown Covid, spriked good economic management.
The repeal of the MRRT was an enormous blunder, IMO, because
that would have yielded at least $30 billion in the interim.
The Libs management (lack thereof) of Multinationals tax rorting
was also a big mistake, IMO because a proper Multinationals
tax regime since 2013 would have yielded at least another $100 billion.
When(not if) the interest goes up , the taxpayer could be faced with
up to $50 billion a year (currently $20 billion) in combined Governments
interest on debt. Given both sides of politics aversion to lifting the corporate
tax rate & tightening up tax avoidance, this debt will spiral out of control
within this decade, IMO.
China will make sure that our economy wont grow at the rate since the GFC,
so there's Buckleys of economic growth led by China bailing us out.
If we have to call in the IMF, World Bank & Wall St to bail us out,
Then like the European countries that got in strife during the GFC, they
will come in and set tax laws, curtail spending, sell sovereign assets
and organise a timetable for the payment of debt; in short we'll loose our sovereignty .
And to spend $300 Billion on the credit card to beef up our armed forces to
protect our Sovereignty might just inadvertently jeopardise it!
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