Tax Reform and the Politics of Fear

There are thousands of laws that provide the basis of governing our nation. Every one of them can be improved in order to meet the needs of a changing world, particularly taxation laws, as they are an out of date mix of temporary political fixes that were deemed necessary to win elections.

However, when Malcolm Turnbull announced his intention to undertake tax reform, public panic set in as the result of his political opponents, in his own Party as well as the Opposition, hitting the panic button hard.

To be truthful, the proponents of fear are absolutely disgusting, giving a shameful exhibition of negative politics that has no regard for the needs of the nation.

What we all need to do is turn our backs on them and join in a constructive debate. Then, when the details of Turnbull’s package are announced, we can decide whether or not we support it in whole or in part. If we think it is bad, we must then campaign for it to be changed.

I can see no point in getting upset about rumours that are spread throughout society by an irresponsible rabble.

For the purposes of constructive input, I reckon that these matters should be included in a tax reform package in one form or another, or at least be considered.

*GST should be broader based and increased as this tax catches all the income tax evaders whenever they buy something. However, pensioners and low income earners must be compensated.

*Taxes on Superannuation need changing. Too many are using their Super as a tax haven.

*Capital Gains taxes must be broadened and raised, as well as Fringe Benefits Tax.

*Seniors like me must pay a small tax on our Superannuation Drawings so we don’t get a free ride while our grandchildren pay more to keep us alive.

*At death, any Superannuation that we have not used must be subject to an inheritance tax, otherwise we are passing on a tax free bequest. This tax should be paid into a sovereign fund to finance infrastructure.

*Payroll Tax must be abolished. It is pure theft and total stupidity to tax an employer for giving someone a job.

*Stamp Duty must go as it is discriminatory. It should be replaced by an annual land and property tax payable by everyone.

*There must be no income tax cuts. Our nation needs all the revenue it can get to reduce budget deficits. Tax cuts encourage laziness.

I am sure that there are other reforms that should be considered, but this is enough for the moment in order to make a constructive contribution.

It is an absolute certainty that Malcolm Turnbull won’t be happy with all of my thoughts, but I have an open mind on all alternative proposals that he wants to toss into the public arena. I hope that you share this attitude with me.

Let me say also that, if Bill Shorten comes up with better reforms than the Prime Minister, I will buy them. But, I hope and pray that he does not just say NO.

Can we be spared from the “Great Big New Tax” scare that that Abbott used so childishly and monotonously when he was in Opposition? It was not only dumb, it was an insult to our intelligence. Sadly, the ALP is now using it. We deserve a better quality of debate.

A vibrant public discussion on tax reform should be a refreshing experience for all of us to enjoy. Lets have it, but, please, only those with open minds should participate. The future of the way that we finance Australia is at stake.

Yours at large

Everald Compton

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One Response to Tax Reform and the Politics of Fear

  1. Ron Jan says:

    The media are just as irresponsible for creating this ‘fear’ because they like to sensationalise any potential ideas. The opposition try to make it look as if all the considerations will be bad. Any discussion and REVIW of current policies is a good thing, since it uncovers lots of situations where funds are wasted, or not being put to the right need. Labour tend to leave everything as is and simply allocate more funds, hoping the problem will then go away. Hence the big debit when-ever they are kicked out by the people suddenly waking up to the fact.

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