Friday, 6 June 2014

The other way to balance the budget

In Increase taxes to balance the budget, the revenue well is not dry Greg Jericho notes that with increasing government expenditures expected the only way to return to surplus is to increase revenue.
A discussion on revenue and expenditure is well due in Australia, but let us not think the revenue well is dry, or that we have suddenly become a huge spending nation. There are revenue measures around, but increasing taxation is never politically easy – either annoying voters or big business. And it is for this reason that when Hockey suggests everyone will have to share the burden, he talks more about reducing expenditure and ignores raising revenue through tax.

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