I’m in Australia for Consilium, an annual conference which is hosted by the Centre for Independent Studies.
I spoke on fiscal policy and pontificated on the need for nations to restrain government spending.
That’s an important message (at least in my humble option), but I thought it was more interesting to learn more about the tax and spending policies of Australia’s current government, which is led by the supposedly right-of-Center Liberal Party (Aussies still use “liberal” in the European sense of classical liberalism).
Unfortunately, I learned that the Australian Liberals (like British Tories) need some remedial work on fiscal policy.
Prime Minister Abbott and his team, for instance, have proposed to increase Australia’s top tax rate. Here’s some of what’s been reported by the Australian Financial Review.
The Abbott government’s deficit tax means top earners will face a 49 per cent marginal tax rate, the eighth…
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Utopia, you are standing in it! 
Aug 25, 2014 @ 09:38:03
The idea that spending is the problem in Australia is only put forward by ideologues.
If spending was the problem inflation would be rising and the market would be expecting higher interest rates, In fact interest rates are at record lows and the market is expecting rates to fall.
IF trend nominal GDP was at hand then there would be no deficit.
Wayne Swan in fact cut NOMINAL spending and reduced nominal GDP even more.
It is such a shame Jim you rely on article with out any evidece.
Do not copy Catallaxy!
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Aug 25, 2014 @ 09:58:50
Have you ever met anyone who disagrees with you who is not an ideologue?
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Aug 25, 2014 @ 11:30:01
well to support your view you need evidence.
you have none.
I have already pointed out how if spending is the problem your view is lacking in two vital areas which you failed to refute.
Australia’s problem is lack of revenue not spending. If it were why did not the economy rise like Lazarus when Swan curt NOMINAL spending. it actually weakened!
In other words I have evidence and you do not. ipsofacto like Davidson you are an ideologue.
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Aug 25, 2014 @ 15:05:04
I might add on the worst case scenario dreamt up by the commission of audit net debt rises to 17.5% of GDP. ( this is where nominal GDP never gets to trend levels.)If this is the worst that can occur then spending is indeed not a problem!
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Aug 26, 2014 @ 11:09:53
Still waiting for your evidence Jim.
Assertion without evidence is ideology
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Aug 27, 2014 @ 14:00:55
that evidence of yours is overwhelming Jim, did you get that from Sinclair?
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