Wednesday, September 1, 2010

This just inbox.

As an update to Cost. Benefit., I thought I might point out that when the media reports on 'how the government is spending your money', causing major outrage at 'our taxes' being spent on 'blah, blah blah', they're neglecting to report one small detail. Individual income tax only makes up about 39% of the government's core revenue. And that's core revenue; that excludes Crown entities and state-owned enterprises. Core revenue is only ~74% of the government's revenue. That means that individual income tax accounts for ~29% of the government's revenue. You might argue that GST, which makes up 24% of the core revenue, is also 'your money'. I suppose it is, but you have control over that, unlike income tax; and really, who considers GST when they go to buy something? You see a price and decide whether to pay it. Don't even get me started on the fact that the GST rise will see you spending and extra $2.50 for every $100. You'd have to be spending more than $4000 to see the extra expense soar into triple digits.

So, back to the point at hand, for the sake of accuracy in reporting, the media should be taking any ballpark figures they happen to glance at on the internet and dividing them by three. They'll still be doing a shitty job, but at least it will show that they're doing a bit more reporting than just checking their inbox.

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