Taxes go astray
We pay our local taxes to the NSW Treasury and in return receive government subsidised services, community infrastructure-schools, hospitals and adequate funding for essential services, right? Wrong.
Government legislation in 1983 produced policy changes that enabled the rerouting of taxes into a private government run institution: Treasury Corporation (TCorp). TCorp employs its own chief executive and staff and board of directors. With $94 billion funds under management (June 2018). TCorp is one the largest institutional investment funds in the country.
The principal object of TCorp is to provide financial services for the benefit of the government, eligible clients, public authorities, other public bodies.
My view is the NSW government through the aid of their lending/investment business (TCorp) have deserted the needs of the people. Nost people, through no fault of their own, are struggling financially while the moneyed recipients of government wealth inflating policies, continue to live their opulent lifestyles.
J. Macleod, Berry
Some facts about debt
Where does the truth lie in political speak? I think it's been difficult to decipher truth from lies so I did a bit of fact checking.
I found government debt under the Liberal government has consistently risen since Hockey got the debt ceiling raised to $500 billion. Rudd had it capped at $250 billion. It looks like there are going to be some big debt repayments down the track created by the three Liberal prime ministers of late. When good income producing Australian assets keep getting sold off and tax revenue declines, followed by a potential world downturn for resources, where is the tax revenue to pay essentials going to come from? Will the Liberals guarantee the banks as did the Rudd government in the worst downturn since the Great Depression?
At first I thought Labor's tax changes were not good but on a second look I now believe they are necessary and the race to the bottom for lower taxes must be managed as Shorten has stated, or our children will all pay the price of bad policy decisions sooner or later. Uncontrolled negative gearing is not fair.
Do Labor governments tax more than the Liberals? The figures in the government supplied graphs show the six years of Labor under Rudd and Gillard from 2008 to 2014 were lower tax years than all the previous and current 15 years under the Liberals.
D. Freeman, Woodburn
My money on Schultz
The federal election is going to be a fascinating contest in Gilmore. It is basically a 'four - cornered' contest between the three major parties and an independent candidate who was the local Liberal branches' pick, Grant Schultz, and who the Prime Minister, Scott Morrison, dumped in favour of former ALP president, Warren Mundine.
Labor you would think was in a winning position, but they have a major problem in Gilmore, and her name is, Fiona Phillips, going around for the third time - and considered by many to be mediocre.
Then you have the Coalition's decision to allow the National Party to stand a candidate up against their partner the Liberals. They have effectively thrown Warren Mundine under a bus. Can the Nats' Katrina Hodgkinson garner a big enough primary vote with the pie being dissected like it is? it's very doubtful.
So why has the Coalition done this? The answer is simple. They want to spoil any chance Independent candidate Grant Schultz may have of beating them.
Former Liberal Member for Gilmore, Jo Gash, is running around supporting Katrina. Liberal branch members in Gilmore are being recruited to help the National Party's candidate. No wonder independents are getting up all over the country. My money is on Grant Schultz.