Daves2017 wrote on Nov 24
th, 2024 at 8:24pm:
“The total value of Australia's energy exports in the 2019-2020 financial year was $115.5 billion.”
“https://taxpolicy.crawford.anu.edu.au ›
So to achieve net zero Australia will not only fund Chinese made windmills but are certain to lose 115.5 million dollars in revenue by closing our mines and cutting off our export market?
Well, with subsidies we could build our own windmills and PVs; but why would we waste Oz resources in a competition with China's productive capacity (ie when the Chinese can provide them much more efficiently, due to advantages of scale in manufacturing)?
So the question is: how to replace the lost export income from coal and gas; note: NOT from closing iron ore mines, the largest earner for Oz.
As for exports funding Oz schools, hospitals, polce, etc, (apoint you address below in regard to balanced budgets) , Oz has all the resources needed to build and service all those necesaary public services, so the OZ government can fund all thise things without relying on export income, by deficit spening, given that the resulting Oz government debt will be owed to itself...
Quote:We need to have a adult conversation.
Yes..the problem is the adults having the conversation....
Quote:I see we have only three options if Albo survive the next election-
Rise taxes.
Decrease services ( we can balance the budget if we do away with police, schools, hospitals.)
Or a combination of both.
Yes, and what's wrong with raising taxes on wealthy individuals and corporations, and stopping insane subsidies for the fossil industry?
But don't worry, Albo is too timid to raise taxes - or rather, ANY government with the balls to raise taxes - even on the wealthy and corporations, all of whom squeal like slaugtered pigs at the mention of taxes - won't get elected because we are all self-interested, rather than thinking about the common welfare.
But re your mainstream balanced government budget' orthodoxy:
Rush Limbaugh (!) said : "Everyone knows balanced government budgets are nonsense..."
And our own Alan Kohler agrees (google it).
You of course think the constraint on your own household budget apply to the
currency-issuing government's budget, it's time to educate yourself.
Quote:Sri Lanka borrowed money in foreign currencies which Sri Lankan banks can't create; when terms of trade turn against a country which has debt denominated in foreign currencies, the result is a debt-servicing disaster.
I’m unsure of some of your assumptions.
Last I heard Australia is three trillion dollars in debt due to lnp mismanagement and labor is working hard and delivering surplus in budget to push back.
Losing Royalties will leave a massive hole in the budget.
I’m also NOT in favour of any tax increase wealthy or not.
By all means go after corporations not paying tax ( hello google) but the fact that someone is gifted, works hard, had a lucky break in life doesn’t make them fair game to pay more for all of Australians woes!
I’m firmly in the middle income bracket so it’s no skin off my nose but the saying “ a fair go “ should work both ways.
Just because someone is achieving success shouldn’t mean they are held responsible for political parties failure to plan for the future nor should we expect they should pay for it!