My Plan To Fix Australia  

Ok so first of all I'm not an economist or accountant. But it doesn't take an expert to see Australia is heading down a dangerous and uncompetitive path with government deficits and over taxation to funds these deficits. Essential services are being cut Australia wide and Australians are working harder and longer but with less purchasing power than ever before. One only needs to look at our various taxes and our high cost of living to see that.

So I have thought about this little (not into too much depth) on how I would get Australia not only back into the black but also set up a standard of living for every Australian very high with giving every Australian the freedom and time to do what they want.

IMO our biggest resource we are squandering. Our government is fighting over mining tax or carbon tax or what ever the hell it might be at the time in a effort to get the scraps or the left overs from our Mining boom. Then they tax the living shit out of the workers just to get a little more.

Feel free to rip my plan to shreds, it isn't in too much detail just a broad outline. Keep in mind the end goal is to make Australians all comfortable enough that we can chose to work or not, and have real choice on how we work.

Step 1. Nationalise The Mines.
Just like in the middle east we need to bring back our greatest asset which is our natural resources back to the public domain. So we all can benefit from it. Now considering so many American, British and European corporations own large parcels of our land along with our own Australian corporations we need to look into what options we have to buy back our land and put it into the governments hands. Failing that I propose a 99.99% mining tax. Where almost all mining proceeds are taxed. Eventually all the corporations that had their chance to sell their mine back to the Australian government will go broke, shut down and abandon the mines. Eventually, provided I'm not lobbied and voted out at the next election the mines will be back in public hands.

Step 2. Profit from the Mines.
Gold, Coal, Iron Ore, LNG, Oil you name it we have it. Set up government corporations owned entirely by the government (and the Australian people) to own and operate the mines. Have the SAME people running the projects that we do now. Head hunt the ones left over. No one is losing their job they are just simply working for a different corporation.
Make all salaries from Mining jobs Tax free. For more remedial work bring in Indian and Asian workforce and camp them out in the desert. Pay them f**k all (like they did in Dubai) but good compared to what they have at home. This will cut running costs massively. Hell pay the remaining Australian local operators even more.

Step 3. Invest Profits
One only needs to look at the profits of BHP and the personal wealth of Gina Rinehart and Clive Palmer too see after a short while things will be running along smoothly(ish) These corporations however won't, But hey that's capitalism. Now that the federal government is receiving BILLIONS if not Trillions of more dollars without taxing Australians or increasing the cost of living it is time to invest our profits.

After some short term fix ups like helping a bit in health care etc. Start a new Government Bank to compete with the big major 4 banks. Because as well all know aside from Mining companies Banks make a f**king killing too. Offer competitive rates and packages to the big 4 but dont squeeze them out of the market, just shake up the market. This will help everyone with home loans, personal loans and banking and make our Banking sector ultra competitive. Benefit = End Consumer - YOU.

However it won't be long until our own Kangaroo Government Bank is making Billion dollar quarterly profits like the CBA, ANZ, National or Westpac. Keep in mind just like the mines, our government bank isnt run by Government type people. We will employ the world best business people and bankers to run it for us. Just like a privately owned bank would.

Step 4. Everyone benefit.
So now the Australian government is running its own mines and has its own profitable bank. The next step is to buy back public infrastructure. Buying back our Ports, Our Rail ways, Our roads, Our Power Companies etc. This will also help with the bottom line.

With these funds I would look at either removing the personal federal Income tax altogether. Like they have in oil rich nations. Increase GST to perhaps 20% (everyone should pay tax) and look at lowering corporate tax to 20%. Get rid of stamp duty and payroll tax.

Have a serious look at what other taxes we now no longer need or where we can cut back.

This over night will bring the cost of living down and make Australian businesses way more competitive on a world scale.


Step 5. Fix Shit
Pump our new found funds into health care providing for all old people, build state of the art housing for the aging (built by our new found cheap labor).

Free Schooling for everyone, Government payed Tafe and University. Allow young people no matter who they are to become what they really want. Not just another white collar slave shackled in student loans. All the way to a PHD level with no time or cost cap. If it takes a while for someone to find their passion then so be it. This is all about giving all Australians the ability to truly find out who they want to be and what they want to know.

Step 6. Prosper.
With low taxes, fantastic education and a state of the art healthcare industry Australia will grow and attract some of the world smartest and brightest. And perhaps lazy too, but that is ok. The point is people have a real choice how they live their lives.
The smart ones will prosper and innovate. We can build a cost is no option internet network and build our own 'Silicon Valley'. Build and develop our own Hollywood and entertainment scene.

Big international production companies will love Australia's natural environment and our new found low costs and low cost of living.


Really at this stage your mind is your own limitation. The government is sorted out running at a surplus without taxing the hell out of you or your business. You now have the education to really do something that inspires you not just have to get a job to pay the bills. Or an easy going country where if you don't want to you don't have to.

END GAME:
We will have the cheap workforce to do our most menial jobs, or Australians can do them to. And instead of being disposable bar tenders, mechanics or check out chicks Australians can spend their time painting, working and developing the performing arts, building an amazing tech sector, designing some of the worlds greatest architecture, get on the forefront of the medical field and make a difference in the world, develop green clean energies that will benefit the world more so than any emissions trading scheme EVER could. The world would really be your oyster. Or you can just chill on the beach and do yoga knowing full well social welfare is still there only it is funded by our resources and businesses not Yours and Mine tax dollars. All guilt free mind you just like someone would enjoy passive income from a business or investment property.

Ok so that is my Socialist Capitalist plan on how to fix Australia. We Nationalise what the government should own then get the f**k out of the way of business in areas it should have little to do with.


I understand that this plan doesn't address somethings namely inflation and wont prices go higher if everyone has more money. Well lower taxation and the government getting out of the way of business hopefully will make for a proper competitive business environment where prices are even more competitive and the cost of doing business is lower so lower prices can be enjoyed by all.

Ferraris for everyone!!

This post has been edited by Street Tuned: Nov 28 2013, 05:30 PM
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