AUSTRALIA NEEDS TAX REFORM SO THE GOVERNMENT CAN DELIVER SUSTAINABLE WELFARE

Australia's social security system has always served as being the best compromise possible between extending generosity to the most needy and vulnerable Australians, and budget prudency. It's probaly as good of a balancing act between the budget busting excesses of the UK's welfare system and the USA's notoriously stingy welfare system as possible. 

Nonetheless, Australia's revenue pool increasingly is not keeping up with the price tag of welfare. Politics aside, that's the hard reality. Treasurer Scott Morrison has good reason to be worried - Australians on average are getting older, not younger, more and more will become welfare dependent, and less and less will be working and paying income tax. 

But it's a common sense equation that confronts Morrison, it's not that complex.He and all treasurers who follow after him have to start making every single dollar of tax revenue count that bit more for the overall economy, as well as endeavouring to streamline and simplify the tax system with sensible, pragmatic tax reform policy and initiatives. 

Most importantly, working Australians who pay income tax need to be given some extra incentive to work overtime without being stung by tax as much as they are. Deal is - tax on all overtime, be it 5 hours or 50 hours a week, should be capped at 15% - and no more.