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Even astute economists, accountants and commentators don’t acknowledge Goods and Services Tax (GST) is charged on wages, which has made workers inseparable from a commodity.
GST directly attacked the value of labour because GST (Consumption tax) is charged on wages because wages cannot be claimed as a business expense in the GST accounts.
Small business not registered for GST pay 15% more for everything they need, as do citizens. This is why many businesses fail in the ﬁrst two years – they are competing with businesses who are paying less for materials and supplies.
GST never was the tax to end all tax. It was a tax on top of a tax on top of a tax. GST or Consumption tax falls on commodity sales at every stage of production, through each sales transition through the supply chain. This means the government extracts a tax on numerous occasions for the same product – increasing commodity prices which is passed onto citizens.
ATTICA’s aim is to Restore the value of the producer and the worker and destroy the non-productive, rent-seeking pathways to wealth that GST has created.
1. Income stretches 15% further. An egalitarian tax break which signiﬁcantly impacts the family home, pensioners and those on a ﬁxed income, gives citizen dollar more buying power.
2. 15% More liquid Capital to stimulate production, a direct drive for the economy.
3. Moving instantly to production across all of the economies locally.
4. Returning government revenue to wages and local business proﬁts, and away from consumption. Restoring government to sharing in success and not further punishing hardship.
5. Protects a stronger, more resilient well-paid workforce aiming to restore full employment.
6. Equality of opportunity – Level the playing ﬁeld. Start-Ups pay GST till they reach the GST threshold. Thresholds create limits, hurting productivity. Once GST is removed, proﬁts can be used to expand the business and end a lifetime of borrowing.
7. Removing GST is simplifying the tax system. and massive Reduction in cost of doing business, while you still have to run a cash ﬂow programme, overall administration costs are reduced.
8. Close the loophole in employment contracts vs wage earners.
9. Governments who tax consumption favour non-productive income or middlemen, known as rent or rentier income. This causes systemic legislation bias which disadvantages direct sales from producer to consumer.
10. Re-orientating from socialising bureaucracy and redistribution into valuing makers and families by leaving their well-earned income alone.
Neoliberalism and creation of easy credit have allowed people to maintain consumerism without truly being able to afford it while putting true assets like land and homes further and further out of reach. ATTICA’s the restriction on Offshore Absentee Ownership we can stabilise real-world asset prices while increasing wages. This is vital as research is showing high personal debts are an indication of an inevitable, oncoming ﬁnancial crisis.
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