Dear Prime Minister Turnbull,
I am writing to belatedly and publicly call your bluff on your so called ‘innovation agenda’, which forms a key plank of your ‘Plan’ for jobs and growth. There are all kinds of reasons to be disappointed with your leadership of this country so far, after promising to establish an honest economic discussion based on evidence, and focused on necessary and long overdue reforms. The speed with which you have retreated from any semblance of honest economic discussion and reform agenda is almost unprecedented in the history of Australian political capitulation, which after recent years is saying something.… Read more
It is a sad and ironic indictment on the state of the global Left and the progressive agenda, that the very compelling reasons to support a Brexit have been lost amongst the rightful consternation with the racist views and actions of far Right political forces in the UK and Europe, and their conflation with the demagogue Donald Trump. Anyone with a genuine understanding of the political and economic machinations of the EU, knows that the institution operates as a bureaucratic/technocratic dictatorship, working against democratic justice, social justice and economic justice.… Read more
By Bryan Kavanagh, cross-posted from Online Opinion, March 29th 2016
The Australian Federal Treasury publication “Architecture of Australia’s tax and transfer system” (August 2008) made a valid observation:
While there are at least a hundred taxes, they all ultimately fall on returns to owners of three possible factors of production; land or other naturally endowed resources (R), labour (L) or produced capital (K). The earnings of each of these factors make up the income of individuals, and when added up over the whole resident population for a given time period (t), the income of the nation (Y):
(1) Yt = rRt + iKt + wLt where r is the return to resources, i is the return to capital and w is the return to labour.
… Read more