Tuesday, March 08, 2016

Age expired

I see that John Stone still writes trying to influence Australian politicians to cut, cut, cut:
That "fiscal path" comprised four components. First, "all ministers should now be put on notice that there will be no room for new spending proposals, no matter how 'worthy'". Second, existing spending needed to be cut hard. "The problem is not the absence of targets for cutting, but the government's faint-heartedness in approaching that task". Third, any and all tax increases should be firmly ruled out. Finally, as one carrot among these sticks, the government should legislate for a 5 (or preferably 10) percentage point cut in corporate taxation, introduced in five equal yearly stages beginning in 2015-16.

He seems to have been old forever, and indeed, I see that he is now 87.  Sorry, according to my rule of thumb, that is past the age where anyone is worth listening to.  (I'm really going to regret this age-ist approach when I'm 87 and still blogging - but by then I'll have had therapies that will mean 87 will be the new 67.  I hope...)

Anyhow, to stop being offensive about our elders, I suspect a 5% company tax reduction phased in over 5 years is probably OK.    But apart from that - the insistence that there is to be no new tax increases of any kind - that's just ideology put above good management. 

I wonder what he would have to say - if he was worth listening to - about the abject failure of the Laffer-isation of Kansas's finances.  That's working a treat.

1 comment:

Not Trampis said...

Steve, Stone has come out and is a confidence fairy believer