GST rise who will benefit 15% GST proposed

Discussion in 'Markets & Economies' started by switchtronics, Jul 22, 2015.

  1. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    Good point ;)
     
  2. col0016

    col0016 Active Member

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    Who are you and what have you done with the socialist SP?
     
  3. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Once you realise SP has dissociative identity disorder - in this case a dual personality (which might I add, is far more interesting and entertaining than the norm), it makes it easier to accept that his rational personality cannot always override his sociopathic personality. You then learn to ride the waves through the troughs.

    Sometimes it's the socialist SP that you have over for afternoon tea, then at other times it's the dominant world paradigm antagonist. :cool:
     
  4. hawkeye

    hawkeye New Member Silver Stacker

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    It could just be someone going through the stages of grief that so many of us have gone through, when the false reality we perceived as real dies and we are forced to find something else.
     
  5. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Like precious metals? :lol:
     
  6. hawkeye

    hawkeye New Member Silver Stacker

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    :) Well, I personally just hang around for the economic and social talk now myself. Wouldn't be surprised if there are others that are the same.
     
  7. petey

    petey Active Member Silver Stacker

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    *waves*

    Haven't been in a PM related discussion area for a good few years.
     
  8. -j-p-shmorgan

    -j-p-shmorgan New Member

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    Predictions are fun. It's completely 100% speculation. :lol:
     
  9. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    One feature of government budgetary policy is that once a potential income stream is identified eg MRRT then the government assumes that the same economic conditions will exist into eternity, thus giving it the opportunity to tap into a previously unavailable source of income. Gamblers do this and so do businesses and individuals who speculate. Of course to believe that is nonsense, the Japanese government's increase in the rate of consumption tax is a point in case. From the RBA's minutes of July 7 this year:

    http://www.rba.gov.au/monetary-policy/rba-board-minutes/2015/2015-07-07.html

    So their GST was raised because the central planners assumed a hike of 3% would represent a corresponding hike in government revenue of 3%? Maybe not, but they were expecting a hike nonetheless. Well what do you know? Consumption decreased, which anyone with some economic nous could have predicted ie income taxes harm earners, consumption taxes harm producers.

    Just as the MRRT failed to return any expansion of government coffers, any proposed increase in the GST is likely to do the same.
     

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