Oscar Wilde once quoted “A cynic is a person who knows the price of everything but the value of nothing”. This saying defines the attitude of Joe Hockey and Tony Abbot towards Medicare in the budget. The only difference is the term cynic is substituted by economists.
Taxes are like government bred enemies of the masses that are levied upon them to suck of their hard earned money to fill the already cash laden purses of the government or so to say. To put it lucidly, no one likes to pay taxes. Well, there is a hope for all of us in last week’s budget which was directed towards one profuse design i.e. getting back the budget from deficit into surplus without proliferating taxes. Therefore, it is aimed to strengthen the government’s finances but not at the expense of people’s pockets. It can be assumed that Joe Hockey is plodding towards a future with reduced income taxes much to the delight of the common man. All this seems too good to be true, doesn’t it? A sweet natured average man is of sceptical disposition and therefore, will think sooner or later that there must be some catch.
Of course, there is a catch to every sweet deal that any nation’s government has to offer to its citizens. The same goes for this budget announced by Joe Hockey. Now we all know the emphasis of this budget is to thicken the government’s purse without saddling the people with increase in taxes. However, government must find an alternative to enrich its resources of expenditure. Therefore, as Joe Hockey states, it will focus on cutting back all forms of government expenditure. It means that people are more likely to lose from these cuts to government disburse then to gain from the avoided tax increase. It seems the government has succeeded in circumventing the common man once again.
Oct 07, 2014 1