Author: <span class="vcard">Darren Brady Nelson</span>

Tax and spend liberals

Economist and LibertyWorks advisory board member, Darren Brady Nelson, has a few piercing comments on last night’s budget.

The former Republican President Ronald Reagan used to pejoratively refer to the Democrats in the 1980s as “tax-and-spend liberals” with a lower-case “l”. Last night Treasurer Scott Morrison in his 2017-18 Budget speech clearly earned the moniker for himself and the Turnbull Government of “tax-and-spend Liberals” with an upper-case “L”.

On the tax side of the ‘tax-and-spend’ ledger, there was a recycling of the “enterprise tax plan” which one can barely call a real tax cut with a straight face. The rest of the Budget’s tax initiatives were tax increases semi-disguised using such language as “levy” or 1984 double-speak as “reversing” and “reversal” of “savings”. Levies, for instance, were mentioned ten times. And not mentioned, of course, as removals or decreases.

On the spending side of the ‘tax-and-spend’ ledger, a … Read the rest

Read more

Quantitative easing by stealth?

Opinion piece by Australian Senator Malcolm Roberts & Australian-American economist Darren Brady Nelson. 

Despite assurances from Treasurer Scott Morrison in October 2016 that Quantitative Easing (QE) would not be used to ‘support’ the Australian economy, published data from the Reserve Bank of Australia (RBA) appear to show a significant Aus-QE policy is already in place. Money supply statistics published by the RBA, such as M1, M3 and Broad Money (BM), suggest the government have been increasing money supply to “support the economy” for many years.

M1 is defined by the RBA as currency plus bank current deposits from the private non-bank sector. M3 is defined as M1 plus all other ADI (authorised deposit-taking institution) deposits from the private non-ADI sector, plus certificates of deposit issued by banks, less ADI deposits held with one another. BM is defined as M3 plus other short-term liquid AFI (all financial intermediaries) liabilities held by Read the rest

Read more

The Rising cost of living is a government phenomenon

Opinion piece by Australian Senator Malcolm Roberts & Australian-American economist Darren Brady Nelson. 

Recent reports of a $13 billion hole in the Turnbull Government’s 2017 budget, once again painfully highlight the urgent need for Trump-like economic policies in Australia as we used to see more of ‘back in the day’ especially under Sir Joh in Queensland. In light of the budget hole, the Treasurer warned that if budget cuts did not pass the Senate then the only options were to increase taxes and/or go further into debt. He presumably meant increase tax rates and/or borrow more money.

We at Pauline Hanson’s One Nation party, as well as some of our cross-bencher colleagues, would certainly like to see a non-partisan plan presented to Parliament and the people for greater fiscal responsibility including significant expenditure cuts over time. Cuts could firstly focus on government waste, duplication (between federal and state) and welfare Read the rest

Read more