Please Explain, Mr Brumby

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Derived from the presentation by Lev Lafayette at the Hume Global Learning Centre, June 28, 2006 Introduction Tonight I am representing Prosper Australia, an organisation which has, in various guises, been a part of Victoria for over one hundred years. One key objective of the organisation is the reduction, as much as possible of taxes […]

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Geonomics: A Summary for Newcomers

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Karl Williams, former President, Prosper Australia Inc. 200 Word Overview Geonomics (‘law of the Earth’) represents a completely different way of looking at The Earth. Starting from the self-evident (but ignored!) principle that The Earth (land and natural resources) should be the equal and common birthright of all humanity, a radically different set of economic […]

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Income Tax: The Zero Option

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Since the Howard government gained control of the Senate, we have been hearing numerous proposals for reducing the top marginal rate of income tax. The excuse is that high marginal rates reduce the incentive for wealth creation and encourage tax minimization. Let’s put this excuse to the test. A holding tax is a tax of […]

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Your Home: The Tax Haven That Never Was

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SPIN: The Family Home is exempt from land tax. (And all the people shall say: Amen.) FACT: If home buyers don’t have to pay land tax, they can afford higher mortgage repayments, hence higher prices. While the price of a house is limited by the cost of construction and by competition among builders, a home […]

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IR Reform: Let Banks Collect P.A.Y.E. Tax

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The Howard government’s industrial relations agenda attacks the wages and conditions of workers as if this were the only way to reduce the cost of hiring. What about the administrative costs imposed by government? For example: If you become an employer, you must also become a tax collector and tax agent, deducting and remitting pay-as-you-earn […]

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Negative Gearing: Incompetence Or Conspiracy?

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A rental property is said to be negatively geared if the owner’s expenses (including mortgage interest and maintenance) exceed the rental income, so that the property makes an annual loss. If the tax system allows negative gearing deductibility, that loss can be deducted from other income for tax purposes. Abolition of this deductibility, loosely known […]

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IR Reform: Who Really Wins?

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Who are the real winners and losers under the Howard government’s industrial relations reforms? We think you can work it out for yourselves. Here are some hints: 1. If workers in firms with less than 100 employees have lost their protection against unfair dismissal (not to be confused with unlawful dismissal), and if all other […]

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IR Reform: Unmentionable Barriers To Job-creation

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The Howard government’s industrial relations agenda is supposedly about job-creation, as if the cost of labour — including wages and salaries, penalty rates and other perks, and the difficulty of reversing bad hiring decisions — were the last remaining barrier to full employment. Sorry that we have to state the bleeding obvious, but: Jobs cannot […]

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Infrastructure: No Pork Barrel Needed

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In every marginal electorate, politicians promise to take revenue raised by nationwide or statewide taxes and spend it on projects that confer purely local economic benefits. This practice is corrupt and unnecessary — corrupt because a minority of taxpayers are bribed at the expense of the majority, and unnecessary because, if a project is economically […]

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Infrastructure: Free Riders on the Tollway

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The Mitcham-Frankston tollway, also known as EastLink, will reduce commuting times in suburbs serviced by the tollway and in suburbs serviced by alternative routes, such as the untolled Springvale and Stud roads, whose congestion levels will be reduced by EastLink. The market value of this benefit (net of tolls) will be manifested as uplifts in […]

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