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Shortens Tax Increases?

  1. Gillysrooms

    8,964 Posts.
    The Queensland election result speaks for itself and the Fed LNP Govt will be no more at next election unless they have a miracle mind change of the voters minds.

    So then the next question which should be on everyone's mind of people who work or operate profitable businesses is which taxes will need to rise to pay for the ongoing deficits of continuing on all current education, welfare & medicare services ? Which areas can an ALP Govt target to increase which will annoy the least number of swinging voters?

    The ALP policy of the Feds carrying the deficit interests is imo a good policy in that it wont shift the burden onto the taxpayers who would be paying 2-3 times more by borrowing it from the banks to pay for it. The LNP has made so much about the need to reduce the deficit because of the interest cost per month but really what is the actual interest rate percentage the govt is paying has NOT ONCE been revealed, but I bet it would be SUBSTANTIALLY LESS than commercial banks would charge taxpayers. WHY have LNP been so tricky with the taxpaying electorate? Why have they lied?
    WHY has a PM who claims to have Catholic values lied to the voters by not keeping the voters in the loop ?

    What types of tax increases would do the least damage to job creation type taxpayers ?

    Superannuation Concessions would appear to be the obvious target.

    Negative gearing is NOT an area to tamper with because it would affect every business in Australia and stop or at least reduce bank funding for start ups and building companies in fact any business activity which might take more than one financial year to complete and reduce demand if there is any possibility of incurring a loss which could not be offset against another part of a profitable activity. It would affect R & D Biotechs which take many years to develope new medical technologies being offset by other profitable income streams. The negative impacts would be endless and the reason Paul Keating scrapped the silly idea introduced by the ALP during his term.

    Reducing the income tax threshold would be another method of increasing tax revenues without affecting the CPI inflation rate.

    The other method of decreasing the deficit would be to cut foreign aid and other low priority programs if the ALP would be interested but the next problem for local business might be the prospect of rising interest rates sooner than expected in a couple years possibly if the ALP start borrowing more money to fund large infrastructure projects which is probably what the LNP should have been doing in Australia & in QLD using their current list of valuable assets as security to fund the new projects.

    What the LNP or ALP have never told us is the value of all Fed Govt Assets but in particular all those assets which could be sold and their non taxable income. Do provide the voters with a HENRY BOLTE style assets and liability statement and an income and expenditure statement to everyone's letterbox so we can know more of the facts. NOT the complicated budget papers BUT a simple format statement. This is what is needed, not the BS lies on election material we get , not the motherhood statements , but the facts. That's what we deserve and we not getting from any major party.

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