Mr President, employment levels are falling. Our Terms of Trade are falling. Home ownership levels are falling. While at the same time, our National Debt is rising, interest payments on our debt are rising, government spending in a whole range of areas is rising. Something has to give. Not only that, pretty soon a person on average ordinary full time earnings will move into the country’s second highest tax bracket. With five levels in our tax system, the idea that someone on average weekly earnings would be on the second highest tax bracket should give serious pause for thought. High tax rates undermine enterprise and destroy the will to work. --------------------------------------------------------------------------- From the speech on the Senates duty to cut spending: Full Speech here: familyfirst.org.au/files/Ideas-from-the-Crossbench-27.11.14.pdf
Posted on: Mon, 08 Dec 2014 06:15:00 +0000
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