An Australian tax prospective 2014

We will bumble along saying we need this, we need that, at the same time refusing to cut. We will carry on borrowing , feeling good in the lucky country, borrowing for what we cannot afford. Clouds are on the horizon as a precursor to a future storm. Do our children deserve it? This may be the "selfie" generation, but it is also the selfish generation. There is a culture of "What do we want? When do we want it- NOW." But who is going to pay?

Give yourself a little test and imagine you are in charge of the country's finances. What action would you take?

A. Raise taxes. Which taxes and where?

B. Continue borrowing.

C. Reduce spending. Where? Defence, health, education, the size of government itself?

D. Carry on along as we are, hoping the problem will go away or be resolved by someone or something else? "She'll be right mate".

E. Some other consideration or mixture.

The ideal world where we are pouring our money into schools, hospitals, foreign aid and all the other many requirements, has to be paid for. How?

We need to secure our future.

Challenge yourself. What would you do? The medicine is going to be difficult to take. Scary stuff! Especially when it is unlikely that the voters will be prepared to swallow the pill.

The longer we leave it the more drastic the action will have to be in the end, and consequently the more damaging to the economy.

So to heck with voting for this party or that. It matters not whether you like him or her as a politician. Nor is it of consequence which party does it, but we must reduce debt. It is essential that someone gets into power who can sort out the deficit troubles. And then, if we do to fix the problem, we will debate whether it was necessary r not for years afterward.

Where to Australia?