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I'm consciously focusing on the Australian perspective and looking at what's likely to actually happen rather than what I think should or shouldn't happen.I’ll agree with you on that smurf but I will say that is a very Australian way of viewing things. You can build a strong economy with lower tax rates—take Singapore for example.
One thing I'll predict is higher rates of taxation overall.
There's a debt to be repaid, there's a society to be rebuilt and most of those who would typically argue against tax and government are unlikely to do so going forward given the sheer number of both individuals and businesses who are now on welfare of some sort.
The question is what gets taxed not whether there's going to be more tax collected.
That re-writes the entire political and economic agenda really.
Globalisation / neoliberalism drove us to where we were, is that where the future generations want to go again?
We need to take a long cold look at the world and recognise that the Chinese Communist Party is a strategic threat and that, in a crisis, the United States will look to its own interests first and they might not align with ours.
The pandemic has shown us that when a crisis hits we are alone. So we need to be able to tend to our needs and defend our interests, alone.
the beauty of left thinking; so easy...Allende's mindset alreadyIt could be paid easily. The super wealthy would just need to pay their share of taxes.
Of course they don't want to do that so will use their influence to distract the peasants.
You are all getting carried away.
we know what they will ask for, a big increase in the GST rate.
I'm not their bunny.
Fair, we agree with you in the US but we are not in the US, we are already one of the highest taxed nation on earth..not comparing to Zimbabwe etc but among major economiesBusiness in Australia is pushing for this.
We in Australia can pay this off as our debt isn't high.
In the USA, debt was rising rapidly before this occurred due to tax cuts at the top end. A study was done which I posted a few years ago, that showed at that time that if the wealthy(earning over 1 million a year) played the same tax rate as the middle class then the debt would be wiped out in 3 years.
Call me left but I along with Buffet think it's ridiculous that he pays less total tax than his secretary without him engaging in tax minimization.
I am a capitalist, I invest in the share market and hate communism or socialism as occurring in France. I am a huge fan of Thatcher and what she did for GBR.
But why should I subsidise the super wealthy? Why can't they pay their share?
As Wayne intimated, we know what they will ask for, a big increase in the GST rate.
I'm not their bunny.
Yea, can't see inflation in the near future.
Agreed, we can never repay.
When will people stand up with some conviction and fight
Sdajii, I am not sure I follow you?The Australian government seems to expect some Australian civilians to do so, putting military out to patrol the streets today and preparing to issue police with semiautomatic rifles to replace their pistols.
I'm not sure at what point it will become clear enough for most people to see that this is not about the virus and that these actions are going to cause far more death and destruction than the virus itself ever would have.
Sdajii, I am not sure I follow you?
at what point will it be obvious to most people that these measures are causing more harm than good?
I think a lot of us understand the sentiment behind your suggestion Sdajii …… but, and its a big but ….
The problems associated with not curtailing the rate of spread (had we gone down that path) are exponentially exacerbated by the likely outcomes.
When the virus is out of control, death rates rise to over 10%. (Most likely much higher once the mathematics kick in.
It is generally accepted that if the V was left to its own devices, likely 50% of the population would contract it ….
Australia as a test case: 12 million people would become infected; 1.2 million will die. That in itself is a problem, but when we consider a high % of those dying will likely be medical people who are most at risk, followed by other occupations who have greater contact with people in general, we would then have a massive social problem.
The economic impact is dire but the alternative could escalate into total anarchy …. I really believe Society could fall apart if the measures to slow this down were not taken. We simply cant afford to have half the world sick simultaneously. Cheers.
That is the death rate if hospitals have capacity.what was the worst case scenario of the virus itself (generally said to be a 3.4% death rate of those who get infected
We need to get back to basics in AUS, create or produce something, manufacture something we can sell to other countries, stop letting countries like China buy us out with printed money, stop giving away our dirt in the ground so cheap... but I fear its already too late.
Post Corona - we will ALL be far far worse off long term and we wont even know it.
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