Gippsland › Latest news › Russell Broadbent MP

Government hypocrisy on 'Cost of Living' exposed: Heavy tax burden on individuals, says Russell Broadbent

Russell Broadbent criticises the government's 'Cost of Living' focus, highlighting Australia's excessive individual income tax and arguing for taxing resources over people.

By news@gippsland - 17th September 2024 - Back to News

The government of the day has chosen 'Cost of Living' to be a major theme in its Federal Budget which was handed down in May. Total hypocrisy when you pay attention to the details of our rorted tax system. Australia is notorious for its taxes on everyday people, with an average 7.6% increase in the last year - that being the largest increase in the world.

Governments should focus on monetising Australia's strong industries rather than burdening individuals. Tax resources, not people, to alleviate economic pressures highlights Russell Broadbent

Taxation imbalance highlighted

And this year's budget confirms that individual income tax is the largest contributor to government revenue by far - with 47% of government revenue coming out of the salaries of individuals. By contrast, only 20% of our country's revenue is earned from company tax, many of which are large companies which control and distribute much more wealth than what is held by individuals.

Shouldn't we tax our trade instead of our people, shouldn't we all enjoy the benefits of living in a resource-rich nation rather than be penalised for it? As if the taxes on individual incomes weren't enough - here is a couple more which we all are well familiar with:

• Stamp Duty
• Capital Gains
• Land Tax
• Council Rates
• Luxury Car Tax
• Fuel Excise
• Alcohol Excise
• Superannuation Guarantee
• Driver's License
• Boat Registration
• Pet Registration
• Medicare Levies

And the list goes on, and I reckon it grows longer under this Labor government in particular.

Taxing resources, not

And I know some of the impediments I listed before are the responsibility of state governments, but those taxes still affect what the federal government is doing about all important issues such as Cost of Living and Housing.

I know governments don't get everything right and that they should be acting in the interests of the people they represent. But they should look for opportunities to monetise strong industries in Australia, which we still have. Every time you move, the government steals a portion of your wealth, every move you make. Free Australians from the economic prison they are sentenced to. Let's tax resources, not our people.

Pictures from Russell Broadbent MP website.

Source: http://gippsland.com/

Published by: news@gippsland.com