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Tax reform and other debacles in Australian politics

bigfield

the baby-eater
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Since their election in 2013, the Liberal Party of Australia has abolished two taxes:

1. The Mineral Resource Rent Tax, colloquially known as the Mining tax. This was a Georgist tax, based on the principle that miners should pay for the value of the non-renewable resources that they are taking. Miners don't produce those resources; they merely add value by extracting and processing them into commodities that can be used by manufacturers. By axing this tax, the Liberal Party proved that they had been bought by the mining giants who poured millions into propaganda before the 2013 federal election.

2. The Carbon Tax. This was the three-year fixed price on carbon that would precede an Emissions Trading Scheme, and was widely recognised as an effective, efficient price signal to reduce carbon emissions. Not only did this increase tax revenue and help save our habitat, but it did so without shifting the tax burden onto low-icome earners. The Coalition axed this, and for good measure they also handcuffed the clean-energy finance corporation, slowing down the growth of the solar and wind power industries and the cheap power they produce. In its place, they introduced Direct Action, an auction-based program that uses tax revenue to pay companies for proposed emissions-reduction measures.

In 2016 the Liberal/National Coalition government is faced with inadequate revenue. Big Fucking surprise there. They have several options at their disposal:

1. Reintroduce mineral resources rents.
2. Reintroduce the emissions trading scheme.
3. Abolish superannuation tax cuts that primarily benefit the wealthy.
4. Abolish negative gearing.
5. Close tax loopholes (oops I mean concessions) that allow corporations to pay jack-all in taxes.
6. Change to a land-value tax.
7. Abolish emissions reduction subsidies paid to polluters.
8. Abolish fuel subsidies paid to mining corporations.
9. Abolish the extraordinarily expensive offshore detention program for boat people and switch to the far-cheaper alternative of onshore processing.

Instead, they decided to consider a much worse option: increase the GST from 10% to 15% and expand it to include, health, education and fresh food, then use the increased revenues to fund a 26% reduction in Company Tax and Income Tax.

(Who needs milk and veggies anyway?)

In essence, the Liberal Party wants to shift the tax burden away from companies and the wealthy and onto low-income earners, who will pay a huge chunk of their income as GST. This will produce a 1.9% increase in GDP while increasing the growth of income inequality in Australia.

The government has shelved the GST increase (for now) after a hugely-negative public reaction, but it's amazing that the proposal even got as far as it did.

What the fuck were they thinking?

That's not the only unbelievably stupid idea that the Liberal Party has had in recent times. They also want to scrap Australia's WORLD CLASS single-payer healthcare system and switch to a subsidised private system. A bit like Obamacare actually, and just like Obamacare, grossly inferior to single-payer healthcare.

Plus, they cancelled a national optic fibre broadband network and opted for the more expensive option of a fibre/copper hybrid network that will be grossly obsolete before it is finished. What in the actual fuck.



This is what you get when you elect a party that is based on a neoliberal philosophy of austerity, privatisation, and deregulation: insane, ideologically-driven economic policy that often produces the opposite result of what is promised.
 

gmbteach

Mrs Frizzle
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On my journey :D
Since their election in 2013, the Liberal Party of Australia has abolished two taxes:

1. The Mineral Resource Rent Tax, colloquially known as the Mining tax. This was a Georgist tax, based on the principle that miners should pay for the value of the non-renewable resources that they are taking. Miners don't produce those resources; they merely add value by extracting and processing them into commodities that can be used by manufacturers. By axing this tax, the Liberal Party proved that they had been bought by the mining giants who poured millions into propaganda before the 2013 federal election.

2. The Carbon Tax. This was the three-year fixed price on carbon that would precede an Emissions Trading Scheme, and was widely recognised as an effective, efficient price signal to reduce carbon emissions. Not only did this increase tax revenue and help save our habitat, but it did so without shifting the tax burden onto low-icome earners. The Coalition axed this, and for good measure they also handcuffed the clean-energy finance corporation, slowing down the growth of the solar and wind power industries and the cheap power they produce. In its place, they introduced Direct Action, an auction-based program that uses tax revenue to pay companies for proposed emissions-reduction measures.

In 2016 the Liberal/National Coalition government is faced with inadequate revenue. Big Fucking surprise there. They have several options at their disposal:

1. Reintroduce mineral resources rents.
2. Reintroduce the emissions trading scheme.
3. Abolish superannuation tax cuts that primarily benefit the wealthy.
4. Abolish negative gearing.
5. Close tax loopholes (oops I mean concessions) that allow corporations to pay jack-all in taxes.
6. Change to a land-value tax.
7. Abolish emissions reduction subsidies paid to polluters.
8. Abolish fuel subsidies paid to mining corporations.
9. Abolish the extraordinarily expensive offshore detention program for boat people and switch to the far-cheaper alternative of onshore processing.

Instead, they decided to consider a much worse option: increase the GST from 10% to 15% and expand it to include, health, education and fresh food, then use the increased revenues to fund a 26% reduction in Company Tax and Income Tax.

(Who needs milk and veggies anyway?)

In essence, the Liberal Party wants to shift the tax burden away from companies and the wealthy and onto low-income earners, who will pay a huge chunk of their income as GST. This will produce a 1.9% increase in GDP while increasing the growth of income inequality in Australia.

The government has shelved the GST increase (for now) after a hugely-negative public reaction, but it's amazing that the proposal even got as far as it did.

What the fuck were they thinking?

That's not the only unbelievably stupid idea that the Liberal Party has had in recent times. They also want to scrap Australia's WORLD CLASS single-payer healthcare system and switch to a subsidised private system. A bit like Obamacare actually, and just like Obamacare, grossly inferior to single-payer healthcare.

Plus, they cancelled a national optic fibre broadband network and opted for the more expensive option of a fibre/copper hybrid network that will be grossly obsolete before it is finished. What in the actual fuck.



This is what you get when you elect a party that is based on a neoliberal philosophy of austerity, privatisation, and deregulation: insane, ideologically-driven economic policy that often produces the opposite result of what is promised.

When the Lib/Nat Party were voted in I said that we were fucked as a country, and I stand by my statement! The sooner these idiots are GONE, the better.
 

Cheerful Charlie

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If I remember Australian politics correctly, the Liberal Party is not liberal, but is rather conservative. Sounds like a bunch of US type Republicans.
 

bigfield

the baby-eater
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yeah nah
If I remember Australian politics correctly, the Liberal Party is not liberal, but is rather conservative. Sounds like a bunch of US type Republicans.
Yes, they are similar to the GOP in many ways. The 'Liberal' name refers to their penchant for laissez-faire economic management, not social liberalism as the term is used in North America.

Apart from the 'gee whiz Australia really is upside down' element of humour in that, I also find it amusing that right wing commentators are unable to use derogatory terms like 'bleeding-heart liberal' or 'libtard', and instead must be satisfied with 'leftist', 'loony lefty', and 'leftard'.
 

Tigers!

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Since their election in 2013, the Liberal Party of Australia has abolished two taxes:

1. The Mineral Resource Rent Tax, colloquially known as the Mining tax. This was a Georgist tax, based on the principle that miners should pay for the value of the non-renewable resources that they are taking. Miners don't produce those resources; they merely add value by extracting and processing them into commodities that can be used by manufacturers. By axing this tax, the Liberal Party proved that they had been bought by the mining giants who poured millions into propaganda before the 2013 federal election.

2. The Carbon Tax. This was the three-year fixed price on carbon that would precede an Emissions Trading Scheme, and was widely recognised as an effective, efficient price signal to reduce carbon emissions. Not only did this increase tax revenue and help save our habitat, but it did so without shifting the tax burden onto low-icome earners. The Coalition axed this, and for good measure they also handcuffed the clean-energy finance corporation, slowing down the growth of the solar and wind power industries and the cheap power they produce. In its place, they introduced Direct Action, an auction-based program that uses tax revenue to pay companies for proposed emissions-reduction measures.

In 2016 the Liberal/National Coalition government is faced with inadequate revenue. Big Fucking surprise there. They have several options at their disposal:

1. Reintroduce mineral resources rents.
2. Reintroduce the emissions trading scheme.
3. Abolish superannuation tax cuts that primarily benefit the wealthy.
4. Abolish negative gearing.
5. Close tax loopholes (oops I mean concessions) that allow corporations to pay jack-all in taxes.
6. Change to a land-value tax.
7. Abolish emissions reduction subsidies paid to polluters.
8. Abolish fuel subsidies paid to mining corporations.
9. Abolish the extraordinarily expensive offshore detention program for boat people and switch to the far-cheaper alternative of onshore processing.

Instead, they decided to consider a much worse option: increase the GST from 10% to 15% and expand it to include, health, education and fresh food, then use the increased revenues to fund a 26% reduction in Company Tax and Income Tax.

(Who needs milk and veggies anyway?)

In essence, the Liberal Party wants to shift the tax burden away from companies and the wealthy and onto low-income earners, who will pay a huge chunk of their income as GST. This will produce a 1.9% increase in GDP while increasing the growth of income inequality in Australia.

The government has shelved the GST increase (for now) after a hugely-negative public reaction, but it's amazing that the proposal even got as far as it did.

What the fuck were they thinking?

That's not the only unbelievably stupid idea that the Liberal Party has had in recent times. They also want to scrap Australia's WORLD CLASS single-payer healthcare system and switch to a subsidised private system. A bit like Obamacare actually, and just like Obamacare, grossly inferior to single-payer healthcare.

Plus, they cancelled a national optic fibre broadband network and opted for the more expensive option of a fibre/copper hybrid network that will be grossly obsolete before it is finished. What in the actual fuck.



This is what you get when you elect a party that is based on a neoliberal philosophy of austerity, privatisation, and deregulation: insane, ideologically-driven economic policy that often produces the opposite result of what is promised.
10. They could a better job than the Labour rabble and really look hard at the Henry review. I cannot believe the world's greatest treasurer :)pigsfly:), that idiot Swan, only introduced one recommendation and then proceeded to stuff that up. See point 1.

I am so disappointed in both major parties. Full of bench warmers and no-hopers.
 

lpetrich

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Is Australian Coal Finally Having Its “Oh Sh*t” Moment? | CleanTechnica
In Queensland, the state’s peak resources body issued an SOS on Monday, calling for taxpayer support – or government tax relief, or more subsidies – for the state’s coal mines, after a study revealed that one third of them were running at a loss. ...

So, is this the first sign that the Australian fossil fuel industry – which has railed against subsidies for renewable energy, but now wants more subsidies of its own – is finally having its “oh sh*t” moment? The ACF certainly thinks so.
ACF = the Australian Conservation Federation.

Coal production subsidies cost Australians $1.8bn a year : Renew Economy
Australian coal, oil and gas companies receive $4b in subsidies: report - ABC News (Australian Broadcasting Corporation)

Hmmm...
 
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