The 2015 Australian Federal Budget was the eight in a row which contained a budget deficit. The deficit grew 7% to $37.4 billion. A $4.4 billion family aid package, a $5.5 billion small business package and slowing mineral exports were the largest contributors to the increased deficit. The largest cuts were made to foreign aid which decreased by 29% from 2014. Proponents of deficit reduction argue that governments who do not control budget deficits and debt are at risk of losing their ability to borrow money at affordable rates. Opponents of deficit reduction argue that government spending would increase demand for goods and services and help avert a dangerous fall into deflation, a downward spiral in wages and prices that can cripple an economy for years.
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@BCMR6VV 2 days2D
@BBZG4BQIndependent2mos2MO
No, because reducing spending means someone going without. Govt needs greater revenues so we can pay down more debt AND fund programs people want and need. For example, dental in Medicare.
So, yes, end tax evasion, close loopholes, make corporations pay a fairer share and ditto the higher earners, but NOT a progressively greater tax, which discourages hard work, innovation and people getting ahead.
Maybe implement death duties, exempting the family home up to a value commensurate with the average home, so like $2 mill or thereabouts, indexed. Set it low enough that people don't feel the… Read more
@96FVK5J4yrs4Y
@8D84DB96yrs6Y
@B2SXP9S1yr1Y
No, and do the following
- decrease benefits and salaries of upper echelon of politicians
- reduce military spending
- increase taxes to the wealthy
- increase taxes on large multinationals corporations
- focus on ending tax evasion in the wealthy. Ending tax evasions in lower income earners will be a drain on resources and not a good roi
@9ZNMKQBNew Liberal1yr1Y
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@8ZX6KMWLiberal Democrat4yrs4Y
@8ZVVVL6One Nation4yrs4Y
@8ZQRRNS4yrs4Y
Perhaps we needed to strike a much greater balance between the economy and public health. I do not know the numbers of direct Covid deaths but I feel that if we looked at that and the amount of debt we have now incurred we might think it was an overreaction. Certainly reducing our military spending if we have to start somewhere.
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There are far too many government employees when comparing roles in the private sector, based on experience 3 to 1. But it is also difficult to terminate an unsuitable employee in the public sector. They can be paid a salary to sit in the staffroom reading the paper until they find another job. It’s an unproductive system and does not encourage staff to think differently and come up with improved solutions.
@8W88YH55yrs5Y
@8VSVZMCConservatives5yrs5Y
@8V4FCYNIndependent5yrs5Y
@8TS65G95yrs5Y
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