Name: CHAN, Sin Fong
Subject: An Unhealthy Income Statement
Visit Time: 13/12/2007 2:48 AM
Remark:
Kevin Rudd is definitely a no-nonsense Prime Minister who keeps to his promises in rectifying the Kyoto Protocol, setting in motion to provide every Year 9 to Year 12 student a laptop computer, and expending $600 million to improve the hospital waiting list.
If he continues on at this pace, he will probably spend $2 billion to roll back the WorkChoices, if that was the amount claimed by Labor what Howard’s government had spent. He will also spend $42 billion for schools funding guarantee, $4 billion on high speed broadband network, $2 billion on health and hospitals reform, $1 billion to secure nation’s water supplies and desalination projects, $100 million for innovative manufacturing, and so on.
He will not forget to handout cheap travel for older Australians and provide a new 50% Education Tax Refund to help families of school-age children meet the costs of education. This Santa Clause will also help aspiring first home buyers save a larger deposit by establishing a new, low tax, First Home Saver Account.
If Australia is a listed public company with the Stock Exchange, I shall not be investing in it. Not a single pledge by Kevin Rudd involves in creating wealth for Australia. A healthy Income Statement (also known as Profit and Loss Statement or Statement of Financial Performance) requires more than just generous expenditure, but most importantly, income generation.
I sincerely hope that the income will be derived from company taxes in a rising economy rather than increased GST or income tax rates, which will badly affect the working families.
