jules
we like the bun
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But it's blatantly clear that much of Europe has been living well beyond their means for many years.
but that's what "living well beyond their means" is - the govt undercollecting taxes, allowing citizens to retain the revenue as disposable income. the govt then sourced the "missing" revenue by borrowing. it makes no difference whether that's done by not collecting taxes or not having the tax in the first place - the result is the same.
the idea that we can 'get rid' of all these useless taxes is dangerous.
My issue is stuff like the stupid flood levy. Why should the rest of Australia have to pay for the under insurance of the QLD state government??? IMO Qld should pay for it. I could go on about any number of arse rapings and feeble wealth redistribution schemes of our current government.
insurance is like a hippy commune. everyone joins together to look after each other. it works because the cost of helping the odd person out is low, when spread across everyone else. when you're as big as the govt, it doesn't work - there's no bigger pool of people who chip in help when you suffer a loss. that's why govts tend to self insure (to a degree). in the long run, the cost of the govt insuring against major disasters like the floods would probably be more than the payout.
the insurance levy was justified.