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TheBrownDog
- Dec 23, 2002
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I posted a while ago a thread about Unionism and how it is holding Australia back, it is backed by evidence that labour movements destroy industries and cause disturbances in the laws of supply and demand which in turn results in an economic system that chugs along like a misfiring engine.
People assumed I was pro-right because I was hating on the little guy, it is not. I do not have an affiliation with either left or right, I do believe that you can only judge a society based on the conditions of the least fortunate citizens of that nation, if you can only rise up at the cost of other people then people are no better than those that used to enslave people.
To balance that post I now present another topic for digestion, please feel free to throw the rhetoric of whatever point of you that you are doggedly sworn to defend, or discuss the topic.
For those who are unsure what the trickle-down theory is, it is the economic assumption in a Laissez Faire economic system (a system where there is little in the way of government intervention and is largely self-regulated) where you do not stand in the way of the rich making money (taxing, regulating, etc) and as they make more wealth they will employ more middle and lower class people and the wealth trickles down.
This concept has been the catalyst for right wing people pushing for tax cuts, tax incentives, schemes and havens for the rich and super rich and laughing propaganda campaigns like bloated miners who derailed any realistic or functional resource tax on miners who lease the rights to strip the country of it's natural resources and get around paying any level of tax justifiable by their accumulation of wealth.
This theory is a sham. The free market has ALWAYS operated on the principal that were is demand there will be supply. The evidence around the world just does not exist, wherever they have lowered the effective tax on the rich it has resulted in the rich getting richer, even when there is significant productivity gain the effective gain on middle class and working class after inflation shows no basis for any kind of re-distribution of wealth or creating more opportunities.
Is it a flaw in the economic theory? There is nothing wrong with the theory, there is something wrong with people, we live in a period of significant wealth but all you hear about is downsizing, outsourcing, diversification. These are concepts built around rich people trying to get richer by exploiting the system rather than putting the wealth they have created into the economy to create more jobs, more wealth and share that wealth.
These people are money addicts, they are sick, there is something wrong with these people, they are rotten to the core and if given the power they would enslave the world. Lust for power breeds a type of human being fit for a prison cell, not leading a nation or the world. There is something wrong with the values we instill in people. How much is enough? Seriously how much money would make people happy?
Is the answer raising tax rates on the rich? No. There is empirical evidence around the world that lower high end tax rates generates more taxation revenue. Does this mean lower tax rates is good for the economy? No, it means these the higher the tax rate is the more people put money into tax shelters, tax havens and abuse taxation loopholes which allows people better off to dodge taxation in one form of another.
We need to shut down any form of tax avoidance and tax minimisation. Family trusts, negative gearing, hobby farms, the list goes on of numerous havens and shelters for people to reduce the amount of tax they pay. Negative gearing is directly blamed for our over-cooked housing market, and has created a glut of negatively geared stock market investors who are on dodgy margins who sell at the first sign of a bump in the market which can cause dire problems for listed companies.
The stock market isn't a casino and listed companies are not roulette wheels, it needs wise investment so we only fund worthwhile companies.
Should we turn to business leaders for solutions? These are the same leaders of of our top 100 companies in the ASX of which 61 of the 100 maintain 686 subsidiaries in 'secrecy jurisdictions' according to recent report. The list of companies is a who's who of our largest institutions. What are these secrecy jurisdictions? These are off-shore tax havens, stable places of Aussie business like the British Virgin Islands, the Cayman Islands, Mauritius, Marshall Islands, Belize, Bermuda and other pillars of Australian trade.
We are being denied billions of dollars annually by our corporations in corporate taxation. USA more than $1.5 trillion dollars annually.
The scope of abuse that is tolerated in this country and around the world is abhorred. Our economic system is floundering due to a corruption in morals and values and the major political parties know full well what is going on and have turned a blind eye to it for far too long and it is getting out of control.
We need to implement severe legislation which treats massive defrauding of the government and the nation on a massive scale tantamount to treason with life imprisonment and the stripping of personal assets of people convicted with the ability to trace the source of origin of all ill-gotten gains and made any contracts void which disperses wealth to other parties.
More importantly, we need to overhaul the morals of our society. It is possible to build into our taxation system a model where it provides some form of legitimate tax deductions for real investment in Australian businesses which creates jobs in Australia and puts more money in the hands of the lower and middle classes who with more money will have demand on goods and services which will drive economic growth and provide job opportunities.
We need to get our rich around the profit at any price mindset, what are you going to do with billions of dollars? You have a great opportunity to create more business, create more wealth for lower classes and profit from. Be happy with a reasonable return on investment and do not strip jobs and send them off to foreign countries just because you are disgusting greedy person.
There was a time when the wealthy were the leaders of nations and made sacrifices to make nations better, now they are the wart on the arse of society.
The difference between being an exploitative disgustingly rich person and swinging from a noose is a revolution where the people they have walked all over have had enough and revolt. It is in the best interest of the rich to have a fair and just system because if we resort to law of nature they will be nowhere near the top of the food chain.
Moderation is the key to life.
People assumed I was pro-right because I was hating on the little guy, it is not. I do not have an affiliation with either left or right, I do believe that you can only judge a society based on the conditions of the least fortunate citizens of that nation, if you can only rise up at the cost of other people then people are no better than those that used to enslave people.
To balance that post I now present another topic for digestion, please feel free to throw the rhetoric of whatever point of you that you are doggedly sworn to defend, or discuss the topic.
For those who are unsure what the trickle-down theory is, it is the economic assumption in a Laissez Faire economic system (a system where there is little in the way of government intervention and is largely self-regulated) where you do not stand in the way of the rich making money (taxing, regulating, etc) and as they make more wealth they will employ more middle and lower class people and the wealth trickles down.
This concept has been the catalyst for right wing people pushing for tax cuts, tax incentives, schemes and havens for the rich and super rich and laughing propaganda campaigns like bloated miners who derailed any realistic or functional resource tax on miners who lease the rights to strip the country of it's natural resources and get around paying any level of tax justifiable by their accumulation of wealth.
This theory is a sham. The free market has ALWAYS operated on the principal that were is demand there will be supply. The evidence around the world just does not exist, wherever they have lowered the effective tax on the rich it has resulted in the rich getting richer, even when there is significant productivity gain the effective gain on middle class and working class after inflation shows no basis for any kind of re-distribution of wealth or creating more opportunities.
Is it a flaw in the economic theory? There is nothing wrong with the theory, there is something wrong with people, we live in a period of significant wealth but all you hear about is downsizing, outsourcing, diversification. These are concepts built around rich people trying to get richer by exploiting the system rather than putting the wealth they have created into the economy to create more jobs, more wealth and share that wealth.
These people are money addicts, they are sick, there is something wrong with these people, they are rotten to the core and if given the power they would enslave the world. Lust for power breeds a type of human being fit for a prison cell, not leading a nation or the world. There is something wrong with the values we instill in people. How much is enough? Seriously how much money would make people happy?
Is the answer raising tax rates on the rich? No. There is empirical evidence around the world that lower high end tax rates generates more taxation revenue. Does this mean lower tax rates is good for the economy? No, it means these the higher the tax rate is the more people put money into tax shelters, tax havens and abuse taxation loopholes which allows people better off to dodge taxation in one form of another.
We need to shut down any form of tax avoidance and tax minimisation. Family trusts, negative gearing, hobby farms, the list goes on of numerous havens and shelters for people to reduce the amount of tax they pay. Negative gearing is directly blamed for our over-cooked housing market, and has created a glut of negatively geared stock market investors who are on dodgy margins who sell at the first sign of a bump in the market which can cause dire problems for listed companies.
The stock market isn't a casino and listed companies are not roulette wheels, it needs wise investment so we only fund worthwhile companies.
Should we turn to business leaders for solutions? These are the same leaders of of our top 100 companies in the ASX of which 61 of the 100 maintain 686 subsidiaries in 'secrecy jurisdictions' according to recent report. The list of companies is a who's who of our largest institutions. What are these secrecy jurisdictions? These are off-shore tax havens, stable places of Aussie business like the British Virgin Islands, the Cayman Islands, Mauritius, Marshall Islands, Belize, Bermuda and other pillars of Australian trade.
We are being denied billions of dollars annually by our corporations in corporate taxation. USA more than $1.5 trillion dollars annually.
The scope of abuse that is tolerated in this country and around the world is abhorred. Our economic system is floundering due to a corruption in morals and values and the major political parties know full well what is going on and have turned a blind eye to it for far too long and it is getting out of control.
We need to implement severe legislation which treats massive defrauding of the government and the nation on a massive scale tantamount to treason with life imprisonment and the stripping of personal assets of people convicted with the ability to trace the source of origin of all ill-gotten gains and made any contracts void which disperses wealth to other parties.
More importantly, we need to overhaul the morals of our society. It is possible to build into our taxation system a model where it provides some form of legitimate tax deductions for real investment in Australian businesses which creates jobs in Australia and puts more money in the hands of the lower and middle classes who with more money will have demand on goods and services which will drive economic growth and provide job opportunities.
We need to get our rich around the profit at any price mindset, what are you going to do with billions of dollars? You have a great opportunity to create more business, create more wealth for lower classes and profit from. Be happy with a reasonable return on investment and do not strip jobs and send them off to foreign countries just because you are disgusting greedy person.
There was a time when the wealthy were the leaders of nations and made sacrifices to make nations better, now they are the wart on the arse of society.
The difference between being an exploitative disgustingly rich person and swinging from a noose is a revolution where the people they have walked all over have had enough and revolt. It is in the best interest of the rich to have a fair and just system because if we resort to law of nature they will be nowhere near the top of the food chain.
Moderation is the key to life.