Amongst the backslapping not a word about our balooning debt and how it must be paid. Are we the dumbest country now or what? We used to believe in fiscal responsibility but this is so gobsmackingly daft it boggles the mind. A country in debt up to its eyeballs passes record tax cuts and we cheer like a bunch of drunks who've just discovered a little more liquor at the back of the cabinet.
Well drink it up soaks, this hangover is gonna be a doozy. Labor, Liberals, Greens are going to be coming after your pensions, ramping up tax on your Super earnings and the game will move onto estate taxes. The overall tax take won't just disappear, but will evolve in other directions. Should be fascinating to watch it unfold.
