Australian (ASX) Stock Market Forum

Should the GST be raised?

I agree with some others here though. The Libs are softening us up for a rise in the GST. If they go through with it, I will be bitterly disappointed. The cost of living is high enough as it is without getting a 2% rise in price of everything.
 
I agree with some others here though. The Libs are softening us up for a rise in the GST. If they go through with it, I will be bitterly disappointed. The cost of living is high enough as it is without getting a 2% rise in price of everything.
I agree. I'll be more than ever disgusted with Labor if this is how we are forced to make up for their profligate spending.
 
I agree. I'll be more than ever disgusted with Labor if this is how we are forced to make up for their profligate spending.

Too late for me, I'm already forever disgusted with Labor, ever since the Whitlam era. Curious that many aspects of that misadventure are repeating themselves. :frown:
 
I find it interesting that so many people on this forum still vote for either Labor or Libs, ie the 2 main parties. I would have thought with a (supposedly) smarter, more savvy/educated demographic, there would be more ASF users who would look outside the main political parties
 
I find it interesting that so many people on this forum still vote for either Labor or Libs, ie the 2 main parties. I would have thought with a (supposedly) smarter, more savvy/educated demographic, there would be more ASF users who would look outside the main political parties

Unfortunately it doesn't matter. Your vote will end up with 1 of the two parties anyway. :(
 
I agree. I'll be more than ever disgusted with Labor if this is how we are forced to make up for their profligate spending.

Well yes. Something has to give, though I don't see why it has to be the GST.
That latest education handout (Gonski) is just pathetic and removed the last remaining tiny shreds of respect I had for the Prime Minister.
 
I find it interesting that so many people on this forum still vote for either Labor or Libs, ie the 2 main parties. I would have thought with a (supposedly) smarter, more savvy/educated demographic, there would be more ASF users who would look outside the main political parties

From what I've seen outside the two parties is a rabble of special interest groups, that aren't fit to do much else except promote their primary cause. Maybe I'll vote for the Australian Sex Party. The caucus meetings would be interesting; "keys in the bowl ministers".
 
From what I've seen outside the two parties is a rabble of special interest groups, that aren't fit to do much else except promote their primary cause. Maybe I'll vote for the Australian Sex Party. The caucus meetings would be interesting; "keys in the bowl ministers".

Agree, but i guess each party has to start somewhere. I like the idea of Senator Online
 
I find it interesting that so many people on this forum still vote for either Labor or Libs, ie the 2 main parties. I would have thought with a (supposedly) smarter, more savvy/educated demographic, there would be more ASF users who would look outside the main political parties
What specific party or parties did you have in mind ?
 

The bouncer at one of my locals has his own political party, some sort of libertarian mob (he tried explaining it to me once but I'd had enough beers for Burnsie to deem me unsafe to the community and in need of being locked up;)). He is also a wedding singer and the other day he was in blue overalls doing some renovations "for his real estate company", so has his fingers in all the pies so to speak.

And that about sums up minor political parties, IMO.
 
I agree with some others here though. The Libs are softening us up for a rise in the GST. If they go through with it, I will be bitterly disappointed. The cost of living is high enough as it is without getting a 2% rise in price of everything.
No federal party with half a brain would want to initiate this only to get dragged into the inevitable bickering between the states about how any such increase would be distributed. I think that at the very least, both major parties will leave it to the states to reach agreement, both on the quantum of any increase and how it's distributed. Universal agreement between the states is after all is an essential requirement for increasing the GST.

Labor is less likely to agree to increase the GST than the Coalition because of where they are on the political spectrum. It is after all a regressive tax.

A sensible option to me would be to broaden the base of the GST upon removal of the carbon tax as this would greatly simplify our consumption based taxes. The politics of this though would make it near impossible to achieve as an option.

Any increase in the GST rate should only be done by electoral mandate.
 
No federal party with half a brain would want to initiate this only to get dragged into the inevitable bickering between the states about how any such increase would be distributed. I think that at the very least, both major parties will leave it to the states to reach agreement, both on the quantum of any increase and how it's distributed. Universal agreement between the states is after all is an essential requirement for increasing the GST.

Labor is less likely to agree to increase the GST than the Coalition because of where they are on the political spectrum. It is after all a regressive tax.

A sensible option to me would be to broaden the base of the GST upon removal of the carbon tax as this would greatly simplify our consumption based taxes. The politics of this though would make it near impossible to achieve as an option.

Any increase in the GST rate should only be done by electoral mandate.

Certainly broadening it to food, book, education, healthcare would help to make it less regressive as those with higher incomes tend to spend more on them eg the minimum wage earner might buy the coles budget cuts of meat while the 6 figure earner is quite happy taking home the king island beef for $35 a kilo.

I'd much rather a broader base than a rise in the rate.
 
I would have thought that the less well off would spend a greater proportion of their income on food.

Above all else, we have to eat.
 
I would have thought that the less well off would spend a greater proportion of their income on food.

Above all else, we have to eat.
Agree. I would hate to see it extended to fresh foods in a time when we are trying to do something about the rise in obesity. Sydboy, there are hundreds of thousands of Australians on really low incomes who are struggling to pay basic utilities and food as it is. Extending the GST across all fresh foods isn't going to bother the affluent in the least, but will have a devastating effect on families trying to find enough to pay their electricity bills.

I don't want to be rude or critical, but so often what you espouse seems to be without consideration for the ever growing number of poor people in Australia.
 
Agree. I would hate to see it extended to fresh foods in a time when we are trying to do something about the rise in obesity.
My thinking was along the lines of broadening the base (including fresh foods) and maintaining the carbon tax tax cuts/pension increases. That though is politically challenging on a number of fronts.

Obesity is generally a product of eating the wrong stuff and/or not enough exercise. Those who can afford fast food which is already subject to GST can afford fresh food from the supermarket whether it's subject to GST or not.
 
Obesity is generally a product of eating the wrong stuff and/or not enough exercise. Those who can afford fast food which is already subject to GST can afford fresh food from the supermarket whether it's subject to GST or not.
How so when they can feed a family of four on pasta for under $1 with a jar of sauce for under $2, compared to, say, fresh fish at (the cheaper varieties) around $15 kg plus, say, beans at $6kg, tomatoes $6 etc etc.
The only really cheap vegetables are potatoes, carrots and onions.

I don't think all poor people are regular customers of relatively expensive fast food outlets.

If we are trying to encourage the consumption of nutritious food, the last thing we should be doing is slapping an additional tax on it.
 
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