WHEN the new Senate sits after the election it is almost certain that the Australian Greens will control the balance of power.
Yet the party’s economic agenda has barely been examined.
The Greens’ support for higher personal income tax, higher company tax, death duties and a suite of other new or increased taxes has gone unremarked, along with their pandering to some of the hardest of hard-left trade unions.
The Greens’ more outlandish social policies – free gender reassignment surgery for those born with an “intersex condition” and support for trials of state-supplied heroin on prescription – have received widespread coverage. They provide the perfect fodder for shock jocks and the tabloids.
None of these have mentioned that the Greens do not have an official economics spokesman in parliament, and there is no Treasury spokesman. Political scientists largely ignore them.
The Greens want to increase the company tax rate to 33 per cent. They want a new personal income tax bracket of 50 per cent. They also want to bring back death duties through what they call an estate tax. The party wants a so-called Tobin tax on foreign currency transactions – a levy of a 100th of 1 per cent – even though such a step will increase the cost of finance and flow on to mortgage interest rates, small business loans and industry borrowings.
The Greens also want to see family trusts taxed as companies, road congestion taxes and the reduction or elimination of personal and business tax concessions, such as the fringe benefits tax treatment of company cars. They also want the tariff on imported four-wheel-drive vehicles increased to 10 per cent for non-primary producers.
Surely the Australian people are not silly enough to vote for the Greens without checking out their policies, they are all there on their web site, nothing is hidden. If you know all of the Greens policies and still want to vote for them, that is your right, but to vote for a particular party, without knowing what they stand for is beyond stupid. On top of the above taxes that they want to introduce, is of course a bigger mining tax, you may be for or against that, but remember Australia’s economy relies a lot on our mining sector. In nearly every newspaper today, our dollar has gone down on the assumption that the Greens will have the balance of power in the Senate.
We used to have Death Taxes here in Australia a long time ago, I for one do not want to see this reintroduced, and we are already one of the highest paying taxpayers now, without increasing our income tax even more. Before voting on Saturday, I urge everyone to know who exactly they are voting for, check out what parties stand for, or don’t stand for, then make your decision.