mxx1's avatar

GDP

In 1900 all taxes (federal, state and local) in Australia were about 5% of GDP. Today it’s around 35%.

Which implies a linear regression suchly;

Y = 0.2419*X – 454.7

That is, in the year 2293, taxes in Australia will be 100% of GDP.

Interesting times. It’s a terrible shame that I’ll be dead and miss it all.

I wonder why people think it’s a good idea to have the government spend their cash for them, despite all the evidence to contrary?

e.g $50b on subs that will be obsolete when delivered, $1b to a really stupid investment in a quantum computing boondoggle, perfectly good sports stadiums getting pulled down and rebuilt because there’s not enough women’s toilets, 3 years to replace a roundabout with an overpass, etc.

I’m invoking Stockholm Syndrome.