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almara |
Tax Expenditure Only
Apr 21 2008, 11:48 PM EDT
The sums were done prior to the commencement of GST - true statement. Consider - no state or federal taxes, have a flat GST with NO exemptions, what rate of GST would be required to equal the same cash collections? Answer - 2%. Why is rate so low? Because 60 % of all transactions are exempt. Pensioners will only be taxed once, on 2% of what they spend. It will help curb credit card spending. It should encourage savings. As an accountant (for 30 years), it will simplify the tax system state & federally in one stroke of the pen!! Diesel fule excise must drop 38 cents/litre. An immediate effect on inflation, as many of the items included in the basket of goods calculating changes in inflation, are distributed by trucks. I've been trying since late 1999 to get the above facts out amongs the community - papers & radio don't want to talk to me about it. PLEASE HELP AND GET THESE FACTS OUT AMONGST THE AUSTRALIAN PEOPLE PLEASE.
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