"I have no problem paying a small levy/tax to reduce the debt...

"I have no problem paying a small levy/tax to reduce the debt but then something must be put in place to stop the debt getting to this level again."

the levy has nothing to do with reducing the debt level

it is there to get the budget back into surplus (i.e. to simply cover expenditure commitments of the Abbott govt) - until which time, the debt is still growing

a better solution would be to make tax cuts / tax increases temporary in nature. eg, the tax cuts implemented by howard / costello should have been been for a 2 to 3 year acknowledging that they are because of the good economic conditions that existed at that time. then when things start to wind back (as they ALWAYS do), the cuts can be wound back and it would not cause such an uproar

cutting expenditures is relatively simple. Australia's problem at the moment is on the revenue side. the correct thing to do would be to make the levy permanent, but then that would be breaking a pre-election promise