Wednesday 1 August 2018

Let Them Eat Cake OR Who Really Helps Provide The Cake

This cartoon was doing the rounds today. Many conservatives were among those posting on social media. I suppose we can all have a chuckle but in reality it’s dishonest when you think about it. The peasants, the forgotten people down below with the rich; the banks, big business and the Prime Minister looking down on them with scorn.

I don’t suppose it’s dawned on the peasants that the banks, big business and the Prime Minister are not their enemies. In fact, without them the peasants would be far worse off. How many people would have home loans and live in their own homes if it weren’t for banks? How many people wouldn’t have jobs if it weren’t for banks and big business employing them? How many people working in industries and businesses who supply to big business and banks also wouldn’t have jobs? How many people who work in industries who rely on banks for finance wouldn’t have jobs? Whilst interest rates are lower than many of us desire, people still rely on those interest rates to build wealth. How many people build wealth through direct share investment and via superannuation investment in banks and big business? The collective number is millions of Australians.

I’ve never heard anyone say I want the handouts but I’ll refuse them if banks and big business have helped to give them. I wonder how many people would miss out if it weren’t for banks and big business? I’m guessing the number runs into thousands of Australians.

It would be remiss of me not to mention the less than desirable aspects of the banking industry that have emerged from the RC. We should all be concerned about that and demand it be fixed. But that doesn’t change the fact that banks and big business are not the enemy. So knock for all it’s worth but think how different life would be without the jobs they offer, the investments they make, the tax revenue they contribute, the wealth they help create.

Last point immigration. It’s an emotive and vexing issue. But I think there is confusion with respect to immigration and refugees and that clouds judgement. The problems we all hear about coming out of Melbourne with African gangs hurts. That problem must be addressed and those attacking people who demand it is, must to get their blasted heads out of the sand, stop the racist accusations and deal with the reality. You can’t fix a problem if you won’t admit it exists.

I believe I’m safe in saying most people would prefer to see less immigration. Reasons are many and varied. What is cut is key? Having said that, we shouldn’t ignore the massive contribution immigrants have made and continue to make to this country. We are a nation built on immigration. India and China are the source of the bulk of immigration into Australia and those people are productive and contribute; tax and expenditure as do thousands of others.

So back to the cartoon. Banks, big business and the Government are not the enemy of the people. To quote a piece from Paul Kelly’s piece in the Australian today which sums it up, “But there is a further truth. The idea that Australia can endure an uncompetitive company tax system without damage to investment, growth and jobs is untenable.” Banks are one of those big businesses. The challenge is balancing the need to keep big business competitive. Then to manage that with responsible immigration and the ever increasing demands of people. Frankly, Conservatives should be standing up for business not joining the ranks of the opposition in trying to undermine them. But of course now politics is more about targeting personality and wealth association rather than applying good reasoning, fairness and what’s in the best interest of the country.