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The Incredible Tax Hikes Keep Rolling In

August 2, 2013 2 comments

This is amazing. I thought I was already in a position of extreme disbelief when the fringe benefits tax and cigarettes tax increases were announced earlier this week. Now the banks are being targeted with an ill-conceived third world style levy and I can’t put into words how extreme my disbelief has become! This government is out of control with it’s addiction to spending and tax hikes. It goes without saying that the cost of the bank levy will be passed onto consumers. How else will it be funded? Does Labor think the money comes from some magical money tree? It’s the same whether it’s the carbon tax, mining tax or the myriad of other tax hikes Labor have already introduced. It adds to business costs, prices go up and we become uncompetitive in international markets.

Labor think they are better off by taking a bigger slice of the cake. But the cake keeps getting smaller and Labor’s slice keeps increasing disproportionately. This is third world politics. Short term tax revenue at the expense of long term economic prosperity. Eventually the cake becomes so small that the government needs to take all of it to get any money. Is Robert Mugabe an adviser for the Labor government? How about getting a bigger slice by making the cake bigger?

This tidal wave of tax hikes is extraordinary. It’s beyond belief. I was astonished by the announcement of the fringe benefits tax that will kill our already struggling automotive industry. It comes just weeks after Ford announced they are closing up shop in Australia because we are too expensive. It’s ridiculous. My eyebrows were already raised to their highest position with a look of complete disbelief. But the tax hikes keep rolling in and my eyebrows have no where to go.

This government’s answer to everything is more tax. It’s been the case since they first took office. It is not sustainable to continue in this manner. These sort of third world tax hikes eventually lead to less tax revenue as the penalized industries decline. Corrupt third world governments increase taxes wherever they see a cash grab and the result is the country remains third world. This is where Labor is taking us. We are in desperate need of a new government.

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