your question is the same as asking why the USA cannot pay universal health care & probably pensions
the answer is often income distribution & taxation, where a very small percentage of the population own most the wealthy & also pay very little tax
in the USA, the top 1% own 35% of the wealth and the top 5% own 70% of the wealth and they have got continual tax breaks by the respective governments there
in Australia, my guess is there has been huge tax leakage due to tax benefits for the wealthy, from:
1. CGT discounts
2. Superannuation
3. income splitting via trusts
4. general tax avoidance
it is going to get worse because Hockey seems to want to shut down ASIC and reduce the ATO workforce, big time, so it because a tax avoidance rort for the wealthy (where as employees are unable to avoid tax due to the PAYG Withholding system)
Australia is in deep doo doo it seems
iron ore & coal prices still falling
Joe Hockey saying the mining industry will sustain us in the budget, which is non-sense
big services companies exporting basic service jobs
manufacturing shrinking more
unemployment rising
foreign investors increasing & sapping the assets & wealth
foreign investors buying unprofitable agricultural & mining businesses merely for supply rather than for profit (thus no tax paid) because they value add overseas in their manufacturing process
Australia is hopeless & ripe for picking
but that is the karma of low IQ & lazy convicts that took this abundant land from the Aboriginals & now the same is happening to them
Australia has so much natural wealthy that we should have factories producing all the goods we need but instead we have nothing
we should have tariffs, government share owned mined & have a self-sufficient nation
we are even importing food & giving up farmland for coal mines & the dreaded evil Coal Seam Gas
as we also have so many Kiwis with their snouts in the trough
- Forums
- General
- pension
pension, page-21
-
- There are more pages in this discussion • 95 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
UNT
UNITH LTD
Idan Schmorak, CEO
Idan Schmorak
CEO
Previous Video
Next Video
SPONSORED BY The Market Online