Archives for June 2024 | Josie Pagani

JOSIE PAGANI

STRAIGHT AND TRUE

June 2024

Dear Aunty

Dear Agony Aunty - I’m a newspaper columnist with a list of issues to write about, but not everything can be an entire column. What should I do?

AA: Have you thought of faking an agony aunt column?

Dear Aunty, I have read that the government is cutting taxes. But are they really? Tax “cuts“ when we are running deficits is just another name for putting up taxes in the future.

AA: You’ve nailed it. Paying for tax cuts with debt is like buying something on the credit card. You have to pay the money back. The government is spending much more than it is bringing in. As a matter of maths, deficits today must result in higher taxes in future. Even if you cut spending tomorrow, you still have to repay the borrowing today.

Amazing, really, how many people have fallen for the bait and switch.

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