Tony Abbott said that he doesnt support raising taxes, he supports lowering them. This is simply another display of his ignorance of matters economic. The main reason we have a budget deficit today is because government revenue has fallen to a point where it is less than government expenditure. Note that expenditure has increased very little, but revenue reduced even more. This is mainly because of the tax cuts given away by John Howard and Kevin Rudd. Plus, of course, the welfare dished out to higher income earners by John Howard. To get the budget back on track, all the government has to do is reverse these welfare packages and restore the last tax cut. Cutting spending will only cause a recession.
Posted on: Tue, 26 Aug 2014 04:50:01 +0000
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