IMO, we should firs rationalise Government: -flat tax on all corporations based on revenue....say 10% (this will at least halve the size of the ATO & reduce corporate accountancy fees by 80%) -flat tax on income to harmonise with corporate tax (in other words no need to operate under a corporate structure to reduce personal tax) -tax our resources to justify the taxpayers' funds used to providing rural & regional services -introduce a wealth tax in the form of death duties (US & UK about 40%) -abolish capital gains tax concessions, negative gearing because they allow the uber rich to unfairly minimise their taxes -re-establish core national businesses that support our national security
Industrial Policy: -to be and to be seen as the global leader in industrial policy to achieve optimum employment, optimum trade surpluses and a stable exchange rate. To achieve this Aus must : -identify and support key export manufacturing businesses to benefit all Aussies -identify/ support import replacement businesses to minimise imports and reduce Australia's dependance on imports & improve our trade balance. -set targets for Australian ownership of our key economic assets (eg like Indonesia ) -promote a culture of make Australian.buy Australian.
Benefits: UBI for all ( say $60K p/a/adult & tax free & $60K p/a/adult tax free income for all PAYE workers.)
It is ironic that foreign corporations that do not have an Australian Vote can exercise more power over our Governments than Aussies voting in self interest .
Just look at what happened in 2013 when the MRRT was introduced ! Big miners who are 86% foreign owned bunched together under the aegis of the Mining Council Australia and had the MRRT scotched. Had we had the MRRT in the interim, it would have yielded at least $20 billion extra funds for Government; enough to pay a fair share of interest on Australian Government debt.
China has taught us a lesson in foreign trade last year and its about time that we learned that lesson and changed industrial tack
Cheers MM
PS: There will always be multinational apologists on these threads as there has been Pommy apologists who opposed Australian Confederation in 1901. .
