Wrong thread I know, but given the above discussion...I have...

Wrong thread I know, but given the above discussion...

I have never heard any well constructed argument why we could not replace every tax and every psuedo tax (duties charges registration etc...) with:
+ one tax on income (like the current income tax)
+ one tax on expenditure (like the gst) and
+ one tax on assets (a tax on total assets not the current CGT)

The simplification of the tax system alone would save billions? trillions?

Welfare should be universal payments by category as far as possible, simply because it would be more cost effective.

ALP plans on franking, over time will not raise a cent as everyone restructures.  It will have unfair short term impacts on SMSFs while industry and retail funds will be unaffected.  It may have unintended consequences - just one possibility, for example, increase in other assets (e.g. house prices) if SMSFs switch to unfranked income (e.g. rent) to balance franking credits.