Rising House Prices
THE recent jump in house prices shows just as predicted, the recent cut in tax rates for the rich did nothing for the economy and more likely slowed it, but did a lot for transferring more wealth to the rich.
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The boost for higher incomes is obvious, more complicated is how it slowed the economy by squeezing those on lower incomes still more.'
That is because those on higher incomes did not need to spend the extra money on necessities, having those already.
So with the extra money and record low interest rates and extra tax concessions with negative gearing, what else to do with the extra money but to put it into buying up more houses, thus boosting the house prices.
For those less advantaged, and thus not able to gain negative gearing tax concessions thus paying for those who can, this boost in house prices only means than an even greater proportion of their income will be taken up in housing costs thus squeezing their budgets and thus the economy even more.
F. Groenier, Don.
What A Waste of Money
I CANNOT fathom why there is not an upsurge of protest against the decision of the Australian government to go ahead with the purchase of barracuda class submarines.
These diesel powered craft probably will become obsolete because of technology breakthroughs in drone warfare, in the near future. I appreciate the saying that if you want peace prepare for war, but would 12 submarines realistically have any meaningful effect in our vast coastal country?
Better to form alliances to safeguard our nation. Could not the estimated $300 billion cost of the submarines be better used to drought proof the country, build long lasting beneficial infrastructure projects etc and in the process create much employment?
Me thinks much better than marine white elephants.
Ross Millar, Trevallyn.
Our Future Hopes
SINCE my arrival in 1961 Australia has been governed by both Labor and Liberal parties. By now both parties have successfully dismantled most manufacturing industries and privatised most essential services.
They have helped to destroy large parts of Australia including the Murray-Darling rivers, plus the participation in 13 military conflicts (mostly in US interests).
Surely "business as usual" holds no great prospects for our future. Perhaps the Green movement can give us a better future.
Horst Schroeder, Devonport.
Pioneer Water Supply
MANY thanks to Frances Vinall for her intrepid reporting (The Examiner, December 6) and to The Examiner for keeping a spotlight on the very long-running issue of Pioneers' water supply.
There has been a cavalier disregard and a punitive attitude towards the citizens of Pioneer which has prevailed for far too long.
While I'm relieved that Pioneer will belatedly receive a potable water supply, there remains a great many questions to be answered on the whole sorry debacle.
I look forward to a parliamentary inquiry into the issue as nothing less will suffice to restore some semblance of peoples' faith in good governance of their elected representatives and their statutory authorities.
C. M. Luck, St Marys.
Rising House Prices
THE recent jump in house prices shows just as predicted, the recent cut in tax rates for the rich did nothing for the economy and more likely slowed it, but did a lot for transferring more wealth to the rich.
The boost for higher incomes is obvious, more complicated is how it slowed the economy by squeezing those on lower incomes still more.'
That is because those on higher incomes did not need to spend the extra money on necessities, having those already.
So with the extra money and record low interest rates and extra tax concessions with negative gearing, what else to do with the extra money but to put it into buying up more houses, thus boosting the house prices.
For those less advantaged, and thus not able to gain negative gearing tax concessions thus paying for those who can, this boost in house prices only means than an even greater proportion of their income will be taken up in housing costs thus squeezing their budgets and thus the economy even more.