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A wealth Tax Should Be Introduced In Australia (Read 11282 times)
freediver
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Re: A wealth Tax Should Be Introduced In Australia
Reply #195 - Jan 30th, 2022 at 6:50pm
 
thegreatdivide wrote on Jan 30th, 2022 at 6:10pm:
freediver wrote on Jan 30th, 2022 at 5:05pm:
If this magical method is so good, why not make everything free?


Only the essentials** can be free, because resources + know-how + productive capacity are not infinite. If they were, indeed everything could be free.   

** including, so it appears,  green infrastructure: It looks like the climate is indeed turning nasty,  with these unending weather disasters all around the world.   


So, food should also be free?
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thegreatdivide
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Re: A wealth Tax Should Be Introduced In Australia
Reply #196 - Jan 31st, 2022 at 10:21am
 
freediver wrote on Jan 30th, 2022 at 6:50pm:
So, food should also be free?


From the point of view of the currency-issuing  government, yes.

So if all citizens  are guaranteed above-poverty participation in the economy - via the Job Guarantee funded by the the government (for free) acting as employer of last resort (ELR) - basic good food will in effect be free (or guaranteed). 

Growers' returns will also be guaranteed.

You are asking all the right questions...carry on!


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freediver
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Re: A wealth Tax Should Be Introduced In Australia
Reply #197 - Jan 31st, 2022 at 10:35am
 
What else should be free? Housing?

All from the government printing money I presume?
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Valkie
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Re: A wealth Tax Should Be Introduced In Australia
Reply #198 - Jan 31st, 2022 at 11:36am
 
What you are eluding to is "true communism"

Where everyone gets the same and none has more than others.

But where communism fails is that there is no incentive to excel, to work hard to be better than the other guy.
In fact, it actually discourages these traits.
It also rewards lazyness, sloth and mediocrity.

This is why lazy parasites cal for it.

But true comunism can not exist in the world today.
Because there is always the ones that will use it to become more powerful and corrupt the true meaning of communism, the same for all.

Capitalism is more fair, when rules are imposed and maintained.
Reward for work and skill, for effort, nothing for the lazy parasites.
But this requires an incorruptible grubberment, something also impossible because mankind is a corrupt species.

There is no way any system will work until power is taken from man
Until a truely honest and incorruptable mediator takes control.
My faith is in an artificial intellegence.
For mankind , as we know it, can never be incorruptable.
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thegreatdivide
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Re: A wealth Tax Should Be Introduced In Australia
Reply #199 - Jan 31st, 2022 at 3:00pm
 
freediver wrote on Jan 31st, 2022 at 10:35am:
What else should be free? Housing?


I already said the basics ... which are good food, clean housing,  clothing, utilities (inc. public transport), education, and last but not least, guaranteed participation in the economy,  according to ability. 

Now, if you want  extra fancy private housing (or whatever), you will have to earn enough money to pay for it...  

Quote:
All from the government printing money I presume?


Yes, because there are vastly  more resources than required to implement  these basics for everyone.


But note (and this is probably what is confusing you) : everyone is still required to work, contribute and earn a wage ie, "there is indeed "no free lunch"   for individuals....who have to earn money and repay their debts, unlike the sovereign currency-issuing government which can always purchase whatever is for sale in the nation's currency regardless of government 'debt' (which is a  misnomer). 
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« Last Edit: Jan 31st, 2022 at 3:08pm by thegreatdivide »  
 
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thegreatdivide
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Re: A wealth Tax Should Be Introduced In Australia
Reply #200 - Jan 31st, 2022 at 3:30pm
 
Valkie wrote on Jan 31st, 2022 at 11:36am:
What you are eluding to is "true communism"
Where everyone gets the same and none has more than others.


Wrong. Read my post #199.

Quote:
But where communism fails is that there is no incentive to excel, to work hard to be better than the other guy.


I'm obviously  not talking about your "communism"; I posit  aspiration to something above basic decent standards, if an individual  so desires AND he has the ability earn the larger income to pay for it.

Quote:
In fact, it actually discourages these traits.
It also rewards lazyness, sloth and mediocrity.


Well...that might be a problem with a UBI, but certainly not with a Job Guarantee, where a useful contribution to the community's well-being is required.

Quote:
This is why lazy parasites cal for it.


Addressed above.

Quote:
But true comunism can not exist in the world today.
Because there is always the ones that will use it to become more powerful and corrupt the true meaning of communism, the same for all.


I could say you are talking garbage now, off on your rant about "communism" according to your definition, it's got nothing to do with "free money" for individuals...as discussed in #199.   

Quote:
Capitalism is more fair, when rules are imposed and maintained.
Reward for work and skill, for effort, nothing for the lazy parasites.
But this requires an incorruptible grubberment, something also impossible because mankind is a corrupt species.


Now more ranting about 'capitalism', according to your definition...

Quote:
There is no way any system will work until power is taken from man
Until a truely honest and incorruptable mediator takes control.


Yes,  that's one argument against MMT, a more substantive argument than all your ideological nonsense above.

But a well-designed  ICAC should be able to eliminate most corruption emanating from corrupt politicians. 

Quote:
My faith is in an artificial intellegence.
For mankind , as we know it, can never be incorruptable.


Addressed above. AI will certainly make management of economy more efficient and capable of achieving desired outcomes. 
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Valkie
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Re: A wealth Tax Should Be Introduced In Australia
Reply #201 - Jan 31st, 2022 at 3:48pm
 
The
Independent Commission for All Corruption.

Is probably the worst example of how to make the system honest.
In none, not one of their rulings have any miscreants been held accountable to the level they should be.

On the central coast, the gave the criminal council a "no issue to answer" free ride.

A council that lost/stole/misplaced $600,000,000.00 in a couple of years.
No referral to further investigation
No forensic financial investigation
No recomendation for criminal charges.

Obviously, some of the $600,000,000.00 was used to bribe the ICAC.

Even the appointed administrator was a mate of one of the councellors.
He has been living in the most exclusive and most expensive accomodation available on the coast for the last 3 years.

And still the crooks keep being crooks, upping rates by several times more than allowed and us now being more expensive than any council in NSW, possibly all Australia.

But the good old ICAC have no case to answer.
I just hope the bribes were good.
Because they will be going to hell for them.

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thegreatdivide
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Re: A wealth Tax Should Be Introduced In Australia
Reply #202 - Jan 31st, 2022 at 4:39pm
 
Valkie wrote on Jan 31st, 2022 at 3:48pm:
The
Independent Commission for All Corruption.

Is probably the worst example of how to make the system honest.
In none, not one of their rulings have any miscreants been held accountable to the level they should be.


Well then, back to the drawing board.

Interestingly the Morrison govt. has rejected a number of proposals for a federal icac...perhaps because  these options just might be able to apprehend corruption.

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freediver
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Re: A wealth Tax Should Be Introduced In Australia
Reply #203 - Jan 31st, 2022 at 6:23pm
 
thegreatdivide wrote on Jan 31st, 2022 at 3:00pm:
freediver wrote on Jan 31st, 2022 at 10:35am:
What else should be free? Housing?


I already said the basics ... which are good food, clean housing,  clothing, utilities (inc. public transport), education, and last but not least, guaranteed participation in the economy,  according to ability. 

Now, if you want  extra fancy private housing (or whatever), you will have to earn enough money to pay for it...  

Quote:
All from the government printing money I presume?


Yes, because there are vastly  more resources than required to implement  these basics for everyone.


But note (and this is probably what is confusing you) : everyone is still required to work, contribute and earn a wage ie, "there is indeed "no free lunch"   for individuals....who have to earn money and repay their debts, unlike the sovereign currency-issuing government which can always purchase whatever is for sale in the nation's currency regardless of government 'debt' (which is a  misnomer). 


So what sort of standard is the free housing going to be?

Have you ever met an actual economist who claims all these things can be funded by the government printing money without causing inflation?

Quote:
everyone is still required to work


What does that mean? And what happens if they do not work hard enough?
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Gnads
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Re: A wealth Tax Should Be Introduced In Australia
Reply #204 - Jan 31st, 2022 at 6:26pm
 
A wealth tax should only be applied to Freediver.
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Frank
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Re: A wealth Tax Should Be Introduced In Australia
Reply #205 - Jan 31st, 2022 at 7:43pm
 
thegreatdivide wrote on Jan 31st, 2022 at 4:39pm:
Valkie wrote on Jan 31st, 2022 at 3:48pm:
The
Independent Commission for All Corruption.

Is probably the worst example of how to make the system honest.
In none, not one of their rulings have any miscreants been held accountable to the level they should be.


Well then, back to the drawing board.

Interestingly the Morrison govt. has rejected a number of proposals for a federal icac...perhaps because  these options just might be able to apprehend corruption.



If an elected Parliament cannot monitor and expose corruption then an unelected body monitoring an elected body won't either.

An elected parliamentarian has better access and privileges than an unelected commission that, in fact, cannot make any rulings, only recommendations to... er... an elected parliament.

The trophies of the NSW ICAC are puny - premier resigning for not remembering a bottle of wine given to him.


Also:

In 1992 Greiner was forced to resign when ICAC, the very body he had pioneered, expressed concerns about his integrity over the offer of an appointment to a former education minister to a new post in the public service. Though subsequently cleared by the NSW Court of Appeal it was the end of Greiner's political career.



Did ANY ICAC commissioner resign or lose his job over being wrong?  NO.



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Re: A wealth Tax Should Be Introduced In Australia
Reply #206 - Feb 1st, 2022 at 10:37am
 
freediver wrote on Jan 31st, 2022 at 6:23pm:
So what sort of standard is the free housing going to be?


Same standard as all well-maintained public housing stock, which by the way is not "free" for the tenants, who still need to pay rent.

Quote:
Have you ever met an actual economist who claims all these things can be funded by the government printing money without causing inflation?


Yes: Professor Bill Mitchell, Stephanie Kelton, and Stephen Hail. The first has a daily blog:

http://bilbo.economicoutlook.net/blog/

with daily additions to a remarkable store of knowledge.

Quote:
everyone is still required to work


Of course. You want people to have free ride?

Quote:
What does that mean?


It means "from each according to ability"...

Quote:
And what happens if they do not work hard enough?


You mean, eg, like billionaires doubling their wealth while they are asleep?

Whereas  JG (ELR jobs) have set tasks with measurable outcomes.

Meanwhile mainstream 'flat-earth' economics based on obsolete classical economics continues to assign "value" to prices achievable in competitive profit-seeking markets alone, regardless of the 'value' for the health and well being of the 'consumers'.  Sheer evil.   


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Re: A wealth Tax Should Be Introduced In Australia
Reply #207 - Feb 1st, 2022 at 11:18am
 
Frank wrote on Jan 31st, 2022 at 7:43pm:
If an elected Parliament cannot monitor and expose corruption then an unelected body monitoring an elected body won't either.


How does your conclusion follow from your premise?

Of course there are always some bad apples in any basket, but an unelected outside observer, chosen on the basis of ability,  can obviously examine the bad players without fear or favour because (if) he has no skin in the players' game. 

Quote:
An elected parliamentarian has better access and privileges than an unelected commission


Which elected polie or polies have  better access (than an unelected commission)  to what, exactly? (I see the 'fallacy of composition' emerging here, see my concluding reamarks).

Quote:
that, in fact, cannot make any rulings, only recommendations to... er... an elected parliament.


Unelected commissions can expose illegality. It will be interesting to see the results of the Queensland premier's intervention into the apparent failure of the state's ICAC. 

Quote:
The trophies of the NSW ICAC are puny - premier resigning for not remembering a bottle of wine given to him.


I agree.  Interestingly, if politicians of the governing party didn't have to beg for money from the electorate (see MMT),  there would be far less corruption in government, because polies would be able to present clearly costed - AND FUNDED -  policies   to the electorate; unlike Albo who even now, before a looming election, cannot say how much he will increase the wages of age-care workers...... 

Quote:
Also:

In 1992 Greiner was forced to resign when ICAC, the very body he had pioneered, expressed concerns about his integrity over the offer of an appointment to a former education minister to a new post in the public service. Though subsequently cleared by the NSW Court of Appeal it was the end of Greiner's political career.


I agree. Another case of politicians being blamed for the political  realities of life under our current evil economic system which reserves money creation rights to private bankers. (...which is why this discussion of ICAC arose, when Valkie suggested MMT is unworkable).

Quote:
Did ANY ICAC commissioner resign or lose his job over being wrong?  NO.


I'm not conversant with the details, but:

https://www.abc.net.au/news/2022-01-31/qld-pccc-corruption-tony-fitzgerald-revie...

" Tony Fitzgerald to chair review of Queensland's Crime and Corruption Commission, Premier Annastacia Palaszczuk says"

"CCC (the equivalent of IPAC in Qld) chair Alan MacSporran did not ensure the watchdog acted independently and impartially at all times, a report found.

Mr MacSporran resigned last week, saying his relationship with the PCCC had broken down irretrievably"

Hmmm...the elected PCCC examining the unelected CCC  (which is authorized  to examine public officials). 

So.... different to your scenario, because both bodies are reviewing each other. The truth will be revealed, unless ALL politicians - and all judges - are corrupt, which is an absurd proposition.


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« Last Edit: Feb 1st, 2022 at 11:31am by thegreatdivide »  
 
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Re: A wealth Tax Should Be Introduced In Australia
Reply #208 - Feb 1st, 2022 at 11:26am
 
Quote:
So.... different to your scenario, because both bodies are reviewing each other. The truth will be revealed, unless ALL politicians - and all judges - are corrupt, which is an absurd proposition.


Is it really.
An entire corrupt police force sent someone who was supposed to fix it packing.

Hanson tried to argue logic and honesty and was ostracized and gaoled.

Other politicians are quickly silenced, or destroyed for trying to fix a crooked system.
Look at Latham who tried to reighn in the rorts that politicians get.
He was ridiculed, ostracized and destroyed by the media who is implicit in the corruption.

No, I think you wil find they have too good a hold to be removed without a complete clean-up.
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I HAVE A DREAM
A WONDERFUL, PEACEFUL, BEAUTIFUL DREAM.
A DREAM OF A WORLD THAT HAS NEVER KNOWN ISLAM
A DREAM OF A WORLD FREE FROM THE HORRORS OF ISLAM.

SUCH A WONDERFUL DREAM
O HOW I WISH IT WERE TRU
 
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freediver
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Re: A wealth Tax Should Be Introduced In Australia
Reply #209 - Feb 1st, 2022 at 3:32pm
 
thegreatdivide wrote on Feb 1st, 2022 at 10:37am:
Quote:
Have you ever met an actual economist who claims all these things can be funded by the government printing money without causing inflation?


Yes: Professor Bill Mitchell, Stephanie Kelton, and Stephen Hail. The first has a daily blog:

http://bilbo.economicoutlook.net/blog/

with daily additions to a remarkable store of knowledge.


Can you quote him?

Quote:
Quote:
What does that mean?


It means "from each according to ability"...


So if you say I am lazy, disinterested and incapable of doing anything other than menial tasks at a snail's pace and to a very low standard, what happens then?

Quote:
Quote:
And what happens if they do not work hard enough?


You mean, eg, like billionaires doubling their wealth while they are asleep?


No, I mean what happens if you do not work hard enough? Are you having difficulty understanding the question?

Quote:
Whereas  JG (ELR jobs) have set tasks with measurable outcomes.


Grin

Can you give an example? I'll give you an easy task: a council worker assigned to pick up rubbish.

And if a person is too lazy and unmotivated to complete set task in the time allotted and to the standard required?
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