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A nation of takers

By David Leyonhjelm - posted Wednesday, 21 August 2024


Also a factor is the level of income tax. Getting something back from the government to compensate for the amount of tax paid makes sense. Australia relies more heavily on individual income taxes than other developed countries, on average taking 25% of earnings. Plenty of people see little benefit for themselves.

Obviously, this situation is unsustainable in the long term. As Margaret Thatcher once said, “The problem with socialism is that you eventually run out of other people's money.”

Australia is already living beyond its means, with budget deficits year after year. It is also actively discouraging industries that support the economy – think coal exports, gas exports, sheep exports - while increasing energy costs. It obviously cannot last.

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What the country needs is a government that encourages self-reliance rather than dependence on the state. Unfortunately, there is no sign of that.

 

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This article was first published on Liberty Itch.



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David Leyonhjelm is a former Senator for the Liberal Democrats.

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