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Colin Lea
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The author is Australian with a long term interest and personal stake in financial planning and management. He is a Registered Financial Adviser, is a member of the FPA Australia, and is a Certified Gold Seeking Alpha Contributor. Prior professional background of 20 years in military &... More
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  • Taxing ourselves into oblivion 1 comment
    Jul 9, 2011 7:17 PM

    Today, after a short week at home in Australia, I fly back to the USA. Just after I get on the plane, the Prime Minister will announce her carbon pricing plan for Australia, a move that while sound in theory (and 'feel goodness'...), is not practical from a global perspective. And here's why - prior to moving to the USA, I was supportive of some form of policy action based around a more sustainable way of life and reducing the impact on the planet. Since being in the USA however, I have become aware of the fact that the majority of 350 million people there don't believe in global warming, and have no intention of adopting a similar carbon pricing plan (at least not under any government soon). And looking at the statistics, if all of Australia's efforts over the next 15 years can be wiped out by a <1% rise in China or the USA's emissions, then who are we fooling in trying to play the global good cop. Yes we have an abundance of natural resources, but with tax after tax on top of tax, we will become irrelevant and overpriced. We will in essence be a very lucky country that is too expensive to be competitive, or a good place to live. I've seen a small taste of it this week. I look forward (with trepidation) to the announced carbon pricing plan, and the subsequent (hopefully vocal) reaction by the Australian public.

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  • Colin Lea
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    Good piece on the carbon pricing policy announced in Australia.
    13 Jul 2011, 02:45 AM Reply Like
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