More GST and working women 'vital for economy'
June 8, 2012

APPLYING the GST to food, health and education, increasing the participation of women in the workplace, and extending the retirement age to 70 have been identified as three key measures to keep the economy growing.    :(

A paper to be released today by Melbourne think-tank, the Grattan Institute, says the measures combined have the potential to increase the size of the economy by more than $100 billion.

''There's nothing else big enough to change the game over the next decade,'' it says.


While the paper is generally sympathetic to calls by business and industry groups, it disputes the assertion linking productivity increases with deregulating industrial relations laws, saying there is no ''smoking gun''.

The paper says the ''deadweight costs'' that business groups claim Labor's Fair Work Act creates ''appear to be relatively small'' and concludes there is no evidence that quantifies the economic drag caused by the act that replaced Work Choices.

Due to the concessions forced by the Senate when the Howard government imposed the GST, the tax covers only 60 per cent of spending and excludes health, education and fresh food. The institute recommends the GST be applied to all these, which would raise an extra $31 billion a year in revenue and add $20 billion a year to the economy.

Acknowledging such a move would be politically unpopular, it says it should be made revenue neutral with income tax cuts, welfare increases and a reduction in the company tax rate from 30 per cent to 21 per cent.   :-?

Although the extra revenue would be offset by these measures, the economy would grow because of the productivity increases driven by the tax cuts, the institute reasons.

Lower income taxes would increase the incentive to work while the 9 percentage point reduction in corporate tax would boost foreign investment, creating jobs, as well as greatly benefit local business and industry.

The states, which receive all the GST revenue, would have to cede some to the Commonwealth to fund the tax cuts and welfare increases but would be no worse off because the GST would be raising more money.

''If the Commonwealth [provides] … 8 per cent of a bigger pie rather than 10 per cent of a smaller pie, then the states would have little reason to complain,'' it says. The institute also identifies incentives to increase female participation in the workforce as vital and cites effective tax rates and childcare costs as one of the biggest barriers.

The Prime Minister, Julia Gillard, met childcare providers and unions yesterday and emerged with the pledge to put the industry on a more affordable and sustainable footing within months.

In 2009, the Labor government announced the pension age of 65 years would be phased up to 67 by 2023 and the superannuation preservation age to 60 by 2024. The institute says these changes missed ''an opportunity for much more substantial reform''.

It says to harness the most from the ageing population, the retirement age could be lifted to 70 and the preservation age to 63. Dispensation would be made for manual labourers.    :(

Read more: http://www.smh.com.au/national/more-gst-and-working-women-vital-for-economy-20120607-1zz3e.html#ixzz1x8zoMpGr

What a wonderful idea, lifting the pension age to 70, and chaining more people to the work bench.   :(   

The Grattan Institute. Softening up Australians for the next wave of pro business anti community changes. Abbott must love this stuff.

What a cock up. Don't they know the industrial revolution is almost dead. Capitalism and consumerism is all but over. We're shopped out and flat out of $$$$$$. Less people will be working for the man, they'll be working for themselves in a sustainable economy.

It will be a whole new ball game in 50 years time and capitalism won't be part of it. It was an obvious failure.

Keep people working until they are at least 70.  All one has to do is put them down the mines.  Plenty of jobs there, is it not so?.    :(

Ex Dame Pansi wrote on Jun 8^th, 2012 at 7:47am:

What a cock up. Don't they know the industrial revolution is almost dead. Capitalism and consumerism is all but over. We're shopped out and flat out of $$$$$$. Less people will be working for the man, they'll be working for themselves in a sustainable economy. It will be a whole new ball game in 50 years time and capitalism won't be part of it. It was an obvious failure.

That's what they said in 1848!



When they introduced 65 as the retirement age, most people died 66.
No most people are fit and active until they are about 75 and live into their 80s.
These same people have neglected to have enough kids to keep them in their dotage, so they will need to maintain themselves while they can.

Remember, kids, you don't HAVE to work if you have other means to keep yourself.

Australia needs to increase its GST to roughly around 15-20% and lower direct taxation and broaden the brackets.

There should be a top rate of tax of 40%.
A broadening of the middle bracket with the difference offset somewhat by the increase of GST to 20%.

Current direct tax in Australia is oppressive and if you also drop some of the social aspirations Australia has - it may even become less of a nanny state...

Ex Dame Pansi wrote on Jun 8^th, 2012 at 7:47am:

What a cock up. Don't they know the industrial revolution is almost dead. Capitalism and consumerism is all but over. We're shopped out and flat out of $$$$$$. Less people will be working for the man, they'll be working for themselves in a sustainable economy. It will be a whole new ball game in 50 years time and capitalism won't be part of it. It was an obvious failure.

so what replace it pansi?.. you having an eye for the future.. bartering is also a form of capitalism

it all depends how good you are at it.. same as saving ones money.. if you are good at it you are a capitalist.. if you are not so good then you become the borrower..

bartering is no different.. its just what is the most value on the day.

Soren wrote on Jun 8^th, 2012 at 9:35am:

Ex Dame Pansi wrote on Jun 8th, 2012 at 7:47am: What a cock up. Don't they know the industrial revolution is almost dead. Capitalism and consumerism is all but over. We're shopped out and flat out of $$$$$$. Less people will be working for the man, they'll be working for themselves in a sustainable economy. It will be a whole new ball game in 50 years time and capitalism won't be part of it. It was an obvious failure. That's what they said in 1848! When they introduced 65 as the retirement age, most people died 66. No most people are fit and active until they are about 75 and live into their 80s. These same people have neglected to have enough kids to keep them in their dotage, so they will need to maintain themselves while they can. Remember, kids, you don't HAVE to work if you have other means to keep yourself.

Of course you could always move back to the dear old dart where you can be closer to your British Queen...this is Australia mate - if you don't like it leave my country but we wont let you turn it into the Queens personal toilet bowl. :P

Andrei.Hicks wrote on Jun 8^th, 2012 at 10:15am:

Australia needs to increase its GST to roughly around 15-20% and lower direct taxation and broaden the brackets. There should be a top rate of tax of 40%. A broadening of the middle bracket with the difference offset somewhat by the increase of GST to 20%. Current direct tax in Australia is oppressive and if you also drop some of the social aspirations Australia has - it may even become less of a nanny state...

We do not appreciate people who do not live in our country sticking their nose into our business. :P

We need to go back to our pre 1980's economy and stop them endlessly turning this country over into the worlds toilet bowl.  This is a nation and community of people, not a socialist economic machine.  Put your backs against the wheels of the machine until they hear our voice! :P

Prevailing wrote on Jun 8^th, 2012 at 10:24am:

Andrei.Hicks wrote on Jun 8th, 2012 at 10:15am: Australia needs to increase its GST to roughly around 15-20% and lower direct taxation and broaden the brackets. There should be a top rate of tax of 40%. A broadening of the middle bracket with the difference offset somewhat by the increase of GST to 20%. Current direct tax in Australia is oppressive and if you also drop some of the social aspirations Australia has - it may even become less of a nanny state... We do not appreciate people who do not live in our country sticking their nose into our business. :P

:)

---

Not Your Country
http://www.fahnenversand.de/fotw/images/a/au_eka.gif :P :-*

Prevailing wrote on Jun 8^th, 2012 at 10:45am:

Not Your Country http://www.fahnenversand.de/fotw/images/a/au_eka.gif :P :-*

What country is that?
Looks like some crock of sh*t the Pacific Islanders think up.

http://www.scwartanddesign.co.uk/images/3.jpg :P

Up Ya Bum Corporate America -I don't sweat you - get out of my country.
http://www.leeharveyinc.com/wp-content/gallery/prints/boycott-corporate-america.jpg :P

Soren wrote on Jun 8^th, 2012 at 9:35am:

Ex Dame Pansi wrote on Jun 8th, 2012 at 7:47am: What a cock up. Don't they know the industrial revolution is almost dead. Capitalism and consumerism is all but over. We're shopped out and flat out of $$$$$$. Less people will be working for the man, they'll be working for themselves in a sustainable economy. It will be a whole new ball game in 50 years time and capitalism won't be part of it. It was an obvious failure. That's what they said in 1848! When they introduced 65 as the retirement age, most people died 66. No most people are fit and active until they are about 75 and live into their 80s. These same people have neglected to have enough kids to keep them in their dotage, so they will need to maintain themselves while they can. Remember, kids, you don't HAVE to work if you have other means to keep yourself.

Greece has a very early retirement age and look at where they are now

Work all your life so you can retire and govt says nope another 10 years sucker.

SOB

Greece has a very early retirement age and look at where they are now.    So did France, until the government tried to change it.  Look at what happened.  ( A new government. )    :)

wrote on Jun 8^th, 2012 at 12:15pm:

Greece has a very early retirement age and look at where they are now.    So did France, until the government tried to change it.  Look at what happened.  ( A new government. )    :)

You think libs wont do same thing?

SOB

Gosh I never saw this coming.  I'm sure flooding our shores with unproductive deadshits and their extended families has nothing to do with it. 
Who woulda thought the benevolent welfare state utopia couldn't work forever?

Get out. :P

Well one certainly hopes not.  Yet again though, one should not be surprised what  libs would do.   :(   

Who are all these upper class British krunts they are bringing out to Australia? :P

Go on...P1ss off. :P

According to the averages, most men are near death at 80.
That means a hell of a lot would be half dead at 70.

The miners won't last until they're 50 let alone 70, neither will the mines, so I suppose it doesn't matter lol.....I meant working in the mines, not living.

Check out the graph.

http://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/4102.0Main+Features10Mar+2011

Youth unemployment is through the roof, yet we would rather keep the oldies clocking on. Who understands the reasoning behind that?

Maqqa wrote on Jun 8^th, 2012 at 12:07pm:

Soren wrote on Jun 8th, 2012 at 9:35am: Ex Dame Pansi wrote on Jun 8th, 2012 at 7:47am: What a cock up. Don't they know the industrial revolution is almost dead. Capitalism and consumerism is all but over. We're shopped out and flat out of $$$$$$. Less people will be working for the man, they'll be working for themselves in a sustainable economy. It will be a whole new ball game in 50 years time and capitalism won't be part of it. It was an obvious failure. That's what they said in 1848! When they introduced 65 as the retirement age, most people died 66. No most people are fit and active until they are about 75 and live into their 80s. These same people have neglected to have enough kids to keep them in their dotage, so they will need to maintain themselves while they can. Remember, kids, you don't HAVE to work if you have other means to keep yourself. Greece has a very early retirement age and look at where they are now

Greece also has to keep funding the upper class in the luxury they feel entitled to just like Aussies have to keep subsidizing Royalist leeches who think Aussies owe the British Empire a bonus. :P

wrote on Jun 8^th, 2012 at 12:15pm:

Greece has a very early retirement age and look at where they are now.    So did France, until the government tried to change it.  Look at what happened.  ( A new government. )    :)

Greece and France are prime examples of why socialism does not work.

What are the ABC hiring all of these British spin doctors as on air presenters?  Get out of my country.  You will never be as Australian as me - I grew here, you flew here - you don't tell me shyte in my own country. :-*

The French people have decided.  Strikes, protests, marches.  They didn't want the government, to mess with their pension.  What was the result?.  Bye bye government.   ;D   

Take your foreign Industries and get out of my country...NOW! :P

wrote on Jun 8^th, 2012 at 7:18am:

What a wonderful idea, lifting the pension age to 70, and chaining more people to the work bench.   :(

coming from somone who doesnt work and has no intention of ever working doesnt exactly give you credibility.

wrote on Jun 8^th, 2012 at 12:15pm:

Greece has a very early retirement age and look at where they are now.    So did France, until the government tried to change it.  Look at what happened.  ( A new government. )    :)

and they were both stupid. The Greeks are beyond lazy and the french live with a sense of entitlement that is long since past.

Soren wrote on Jun 8^th, 2012 at 9:35am:

Ex Dame Pansi wrote on Jun 8th, 2012 at 7:47am: What a cock up. Don't they know the industrial revolution is almost dead. Capitalism and consumerism is all but over. We're shopped out and flat out of $$$$$$. Less people will be working for the man, they'll be working for themselves in a sustainable economy. It will be a whole new ball game in 50 years time and capitalism won't be part of it. It was an obvious failure. That's what they said in 1848! When they introduced 65 as the retirement age, most people died 66. No most people are fit and active until they are about 75 and live into their 80s. These same people have neglected to have enough kids to keep them in their dotage, so they will need to maintain themselves while they can. Remember, kids, you don't HAVE to work if you have other means to keep yourself.

Rubbish - we bring in 70,000 people every year who have to pay taxes

wrote on Jun 8^th, 2012 at 12:39pm:

The French people have decided.  Strikes, protests, marches.  They didn't want the government, to mess with their pension.  What was the result?.  Bye bye government.   ;D

and the new one will end up doing exactly the same or go broke.  as a NON-WORKER, you ahve no idea of the concept of actually paying your own way.

they should double the gst and raise the tax free threshhold to $50 ooo ....it would solve lots of problems but they are too gutless....

Ex Dame Pansi wrote on Jun 8^th, 2012 at 12:26pm:

According to the averages, most men are near death at 80. That means a hell of a lot would be half dead at 70. The miners won't last until they're 50 let alone 70, neither will the mines, so I suppose it doesn't matter lol.....I meant working in the mines, not living. Check out the graph. http://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/4102.0Main+Features10Mar+2011 Youth unemployment is through the roof, yet we would rather keep the oldies clocking on. Who understands the reasoning behind that?

According to my physiotherapist 50% of all people over 50
have arthritis in their back.

longweekend58 wrote on Jun 8^th, 2012 at 8:01pm:

wrote on Jun 8th, 2012 at 12:39pm: The French people have decided.  Strikes, protests, marches.  They didn't want the government, to mess with their pension.  What was the result?.  Bye bye government.   ;D    and the new one will end up doing exactly the same or go broke.  as a NON-WORKER, you ahve no idea of the concept of actually paying your own way.

I believe the new one is going to put taxes up to 75% for the big earners. Socialism must be catching on in Europe.

for a country that has the best economy in the worl d the envy of the world.lowest unemployment in the world..

then why is our govt doing some strange things.??

like selling off the farm.. taxing the hell out of everyone. driving our industry off shore.

now talking of increasing the retirement age. and the GST of all things... cutting rebate on health

all things that point to a coming  recession

rather than a prosperous country.

whats going on swanny are you game to tell us?

I don't believe foreign and British Born migrants or refugees are entitled to a retirement pension.  The age of a free lunch on the Aussie is over.

wrote on Jun 8^th, 2012 at 12:39pm:

The French people have decided.  Strikes, protests, marches.  They didn't want the government, to mess with their pension.  What was the result?.  Bye bye government.   ;D

When was the last time the French got anything right??

Swanny and his anglosphere corporate lunatics are trying to run a Eugenics purge through economics.  That is all - get out of my country Swanny.

John Smith wrote on Jun 8^th, 2012 at 8:02pm:

they should double the gst and raise the tax free threshhold to $50 ooo ....it would solve lots of problems but they are too gutless....

Yes. $50K per person. Indexed.

British migrants are all dole bludgers who take Aussie jobs - they dont work hard enough and they are tax dodgers. 8-)