Low tax = sends country broke.
https://australiandebtclock.com.auSince 2013 the Libs have accrued over $700 Billion of debt;
even more if one considers how much they have starved the
States of tax revenue.
That's on average budget deficits of $87.5 Billion a year
of debt. Any idiot can do that and then kick the debt can
down the road for future Labor Governments to pay.
This is irresponsible Government by sociopaths who will
do anything to get re-elected and bugger Australia!
To personalise this level of debt accrual:
Imagine if you are a family on an income of $100K P/a
and you spend an extra $16K P/A over 8 years.
That will be a debt of $16 K P/A (living beyond means)
or an accumulated debt including interest of $150,000
This is the prescription for bankruptcy IMO.
And if not, the kids will have nothing to inherit (100% inheritance tax)
and be left to foot an extra bill.
PS: our capitalist system is fuelled by credit on the premise that
the debt will be repaid with interest.
The only way our Government can pay down debt is by increasing
tax given that the Libs since 2013 have not reduced spending; in fact they have increased it!
