It's not rocket science folks. Stop negative gearing, stop the wealthy tax breaks on Super and get them to pay a progressive tax rate instead, can fossil fool subsidies, and some other things and hey presto; The budget is balanced.
I could say too, reintroduce the carbon and mining tax to fix revenue. Oh, and can buying the waste of money F35 lemons.
Why do Australians think the Lieberals are good for the economy FFS? Since Abbott came to power on a "budget emergency" wave of pretend gov panic, the budget has been blown to smithereens.
Now we have Turnbull who's really not doing much better. Keep all the rich lurks in place and expect the middle and lower income people to cop it/pay off the budget debt.
The latest worsening of the budget deficit, to be revealed by Treasurer Scott Morrison on Tuesday, could be plugged by abolishing a handful of what the Greens claim are "unfair tax breaks".
Research by the independent Parliament Budget Office, conducted for the party, found the government would be $38 billion better off over four years if four entrenched tax lurks, including negative gearing, capital gains tax discounts and public subsidies for fossil fuels, were abolished.
The PBO's projection was also based on a scenario where Australia's flat rate 15 per cent tax on superannuation contributions was replaced with a progressive system in which the top rate would be 30 per cent on contributions above $150,000 a year.
The $38 billion that would be raised over four years by dispensing with tax breaks would almost exactly cover the latest blowout, to be announced by Mr Morrison on Tuesday. canberratimes
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