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Essay

Australian Tax Reform

Essay specific features

 

Issue:

Business

 

Written by:

John M

 

Date added:

November 19, 2013

 

Level:

University

 

Grade:

A

 

No of pages / words:

6 / 1457

 

Was viewed:

5096 times

 

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Essay content:

The Howard-Costello government, seen as militant debt hawks, has announced their goal is to retire the entire national debt by 2005. Has this government forgotten all of the economic and political lessons of the past 20 years? Take the American experience of the Reagan Government, they used surpluses to cut marginal tax rates, which is the most economically productive use of tax surpluses...
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Moreover, financing Social Security privatization, and tax reform, as much of the rest of the world is now doing, would enhance the long-term growth potential of the Australian economy substantially more than retiring Government Bonds. This country is on the brink of economic utopia, and the real worry is that this government is squandering a once-in-a-lifetime opportunity to position Australia to have a positively funded balance sheet with continual reduction in taxation...
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