Who should payback Goverment bailouts

Discussion in 'Accounting & Tax' started by Property Baron, 27th Mar, 2020.

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  1. Property Baron

    Property Baron Well-Known Member

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    Once the Coronovirus is under control and the country is open for buisness again how are we all going to payback these 100s of billions in bailouts.

    Will buisnesses that were bailed out be forced to pay higher taxes then people that didn't need the help? There are plenty of buisnesses that have made 100s of millions over the last decades that could survive without tax payers fitting their bills for the next 100 years.

    Very interested to know how this payback will be approached.
     
  2. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    I would expect once the dust settles we will face increased tax. GST is a likely first casualty. Maybe broader to include food etc and a rate hike. This is likely

    I expect a new global tax regime of wealth based tax surcharges after this. Investors too. Wealth isn't taxed like they could. Bill Gates and W Buffett have said this. Maybe internet mini g and resource o billionaires need to step up. Property owners will be in targets too for more tax. And wealth redistribution. Pressure on sales may increase.

    And watch Some get smacked. Chinese companies that ripped out medical supplies and sucked the life from economies with milk masks drugs etc will get their pay back. Massive export penalties. Trump will be one of the loudest. Trade wars will be the new thing. Emigration out of major economies could even occur as blame shifts.

    WW3 was the virus. WW4 is the retribution
     
    Last edited: 27th Mar, 2020