Economic Overhaul – Election 2021
Three weeks to go until an election, and we have another contraction in the economy. What do all the parties say they are going to do about it? Let’s see, we will borrow money and increase government spending. We will increase subsidies to businesses, we will lower corporate/personal taxes, and increase various pitiful tax credits to families. Do any of these ideas sound new to you? Have any of them seriously changed the course of our economy before? No? Then why do they keep parroting them?
Because we keep voting for them.
I personally believe we need an Economic Overhaul where we revamp the way our system works with some major changes, rather than small tweaks.
I’m going to outline four different approaches that I think can be used either individually or combined that could seriously alter the way our economy works for the better.
- The rules we have surrounding free trade agreements.
- Altering and prioritizing different tax methods.
- LEM- Labour Expense Multiplier.
- Variable sales taxes based on company size.