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tax the rich

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In Australia they are talking about raising the flat consumption tax called the GST. Increasing the GST hurts the working poor more. After 4 years of a cost of living crisis due to high inflation, exacerbated by price gouging by big corporates, and the Reserve Bank steeply raising interest rates the experts think that the poor folk need another kicking. Who do you think copped it in the neck the most over this period? And prices on essentials have not come down, they are merely not rising by so much. Does the federal government really think that those hurting the most financially deserve another price hike on everything?Continue Reading

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boy in black and white sweater covering his face with his tow hand

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It is important to note that economic and political cycles do not usually coincide. Australia remember what 10 years of the Coalition brought us. There is a considerable lag between policy and outcomes. A decade of the LNP Coalition federal governments saw the acceleration of housing unaffordability in Australia. Now, you might think that inflation driving up the prices of residential property is a good thing and your chance to get rich, but home owners, I have spoken with, see it differently. They invariably say, that sure having your house worth a lot of money can appear to be wealth but if you sell it you just have to go out and buy another one which is equally as expensive. Housing affordability has jumped from 5 times annual income up to 13 times in Australian cities, according to respected economic journalist Alan Kohler.Continue Reading