Why Company Tax Cuts Are Necessary And Why You Should All Send Me $2 each…
Here’s the deal:
Everyone in Australia who’s working should put $2 into my bank account. I’ll receive several million dollars. And this’ll be good for the country because I’ll go out and spend it, creating jobs. It’s really a small price to pay for the amount of employment I’ll create.
Why give it to me? Well, because I’ll promise to spend it and that’ll lead to jobs. And growth.
I know some of you are still thinking this deal sounds a bit shonky, but then you’re probably the same people that don’t see the wisdom in the company tax cuts that Malcolm’s proposing. You see, it’s all about winners and losers.
Ok, I know that there’ll be winners and losers because Malcolm told us so. I’d just like to be one of the winners. Not because I’m greedy. No sir, not me. I only want the money so I can provide jobs for you all by dining out every night, upgrading my wardrobe and changing my car every two weeks. It’s really an act of altruism. Just like when companies provide jobs for us out of the goodness of their hearts.
Yes, yes, I know that some of you are suggesting that there’s nothing in it for you. But that’s short term thinking caused by twenty five years of growth. We need tax cuts for business – and the $2 for me – because after all that growth some of you need to make sacrifices so that the economy can continue to grow. In the long run, it’ll be good for our prosperity.
What was it that Keynes said? “In the long run, we’re all dead!” Or something like that…
Anyway, back to the most recent rationale for the company tax cuts. We need to do it because Donald Trump said that he was going to cut the company tax rate to fifteen percent and we have to follow his lead on this because we need to stay competitive. Mind you, he also said that he was going to introduce tariffs to protect US industries, but we don’t have to follow that, because, well, we don’t have to blindly follow everything he does. Just the things we wanted to do anyway.
Of course, Mr Trump hasn’t actually done anything yet, because he’s still only President-elect and has no real power to make any changes, so whether he keeps all his election promises remains to be seen. Unlike previous presidents, where a majority of people hoped that the incoming president would do what they promised, with this election people are reassuring themselves that he probably didn’t mean everything that he said and it was all just some cunning plan to get elected. Our own PM, Malcolm in The Muddle Turnbull implied as much in a recent interview from which I inferred he thought that it was ok to say anything in order to get elected unless you’re the Labor Party in which case the Federal Police should be brought in because of their shocking “Mediscare” campaign.
On a side note, there has been some speculation that President Trump may not honour the “deal” where we took those Central American refugees in exchange for the US taking most of those on Nauru and Manus, but I’d like to remind everyone that the Liberal Party assured us that we weren’t taking people as part of some deal; we’d just decided that the people in Central America had jumped to the front of the queue.
At least Mr Trump had time for a phone call from our beloved PM even if he didn’t have time to actually meet him. Most of you probably heard that it was thanks to Greg Norman that Malcolm was able to contact the future president because the government didn’t have his number. Yes, just let that sink in for a while!
Ah, interesting times…
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How should we respond to the 579 corporations found last December to have not paid a cent in income tax since at least 2013, how can the tory govt give them a cut in their tax, when they have NOT paid any for years? If they were3 charged income tax at 19 cents in the dollar, that would be OK provided they “all” paid and had NO tax deductions, as the ordinary everyday Australian’s situation.
Round and round we go, as a goldfish would, seeing a brand new and utterly exciting bowl, renewed every three seconds. We have heard this codswallop for THREE DECADES and a good percentage of people will, as weird as it seems, willingly fall for it, even as they continue to PALPABLY experience their own reduced circumstances WHILE watching “Lifestyles of the Obscenely Wealthy” on the teev. Even Mal must shake his head at their idiocy but it must be very comforting to have the entire apparatus of the commercial media on tap to provide more “guided democracy” as in the Indonesia of Soeharto. I’ll say it again: Mal needs to have a contract drawn up with EVERY Australian citizen that states: “I understand that if I’m not completely happy with the results of your FABULOUS new plan (hereinafter called “Cargo Cult”) to give more money to the wealthiest so that largesse will shower down on the us plebs (some time later in what we call “the unforeseeable future”… then I’ve been had.”*
* I have an IQ not exceeding 60. Signed:________________________
* Outcomes of this plan may vary or be forgotten over time.
* Results cannot be guaranteed as your betters may choose to bank the money overseas and send jobs elsewhere.
This is consistent with the strong push to ‘axe the tax’ by the mining magnates when they realised that their run of tax deductions on establishing their business was about to end, and they might actually have to show a profit.
The flaw in the proposed “all of us give Rossleigh $2” form of trickle down economics is that one must first be rich or even better filthy rich in order to qualify. Only the rich have the attributes needed to create jobs.
Making a commoner rich is unacceptable to the neoliberal elitist mind of Malcolm Turnbull. Stealing the money first is however an ideologically acceptable path to then qualifying for further enrichment through trickle down.
And they won the last election????
Ah yes Malcolm Turnbull AKA the refugee contacts The Great White Flounder AKA the boat smuggler to get to the President elect via the back door. I could go on but suffice to say this so called Prime Minister had the gall to brag about this on National TV . I am appalled at the lack of respect for protocol. Trickle down economics give me a break.
ah yes, they didn’t have his number, makes you wonder what our ambassador actually does over in Washington, doesn’t it?
Hahahaha! Love your idea, Rossleigh. But seriously – I’m sure I’d be much more entrepreneurial, innovative and excited if I were the recipient. My altruism would know no bounds. I’d have all the suave indifference and cheesy smugness of muddling Mal after I’d taken a good percentage of my earnings offshore to help save the world in countries which have been struggling to catch up. Of course I’d stay away from the countries in which we’re fighting wars. We’re already spending a bomb there.
Roscoe. Maybe he’s smoking cigars, opening a Grange or two, devising systems for double dipping and searching for more entitlements, setting priorities for which social functions he should attend, and glad handing celebs and, of course, attending to the development needs of his family. Having a conduit to the president elect – beyond his skill set. Perhaps he told Mal to call Greg – is that networking? Our PM loves networks.
wonder how much tax john daley grattan ceo pays? Not much, in fact I doubt if it is the equivalent of your $2(only half a cup of joe’s coffee??)
If the medicare levy was on gross income daley, trunbull sleazy twiggy and packer would at least pay that and we wouldn’t have medicare problems.
Then follow up on company rorts and we would, like trump’s America, be strong/great again.
Much lower than expected wage growth has knocked a hole in the government’s budget projections, blowing out deficits right through until 2019-20.
The worse position, confirmed by Treasurer Scott Morrison, comes despite a doubling in the price of coal and a 50 per cent jump in the price of iron ore.
Deloitte is expecting an underlying cash deficit of $40.5 billion in 2016-17, around $3.4 billion worse than budgeted.
Assuming no further policy changes, it forecasts a cash underlying deficit $3.8 billion worse than budgeted in 2017-18, and deficits $7.1 billion worse and a “sobering” $10 billion worse in 2018-19 and 2019-20. Across the four years, the deficits are $24 billion worse.
“Two-thirds of national income and one-third of the budget comes from wages,” Deloitte director Chris Richardson told Fairfax Media. “Wage growth is at a record low and jobs growth is not crash hot.”
Mr Richardson agreed with staff from the International Monetary Fund who said last week there were risks in cutting government spending too quickly. The government plans to take $20 billion out of the economy in 2017-18, about 0.75 per cent of GDP.
Now is NOT the time for a $50 billion tax cut to the people who got us in this mess in the first place – the same people who are screaming for even lower wages through abolition of penalty rates.
The only good thing Morrison is doing is running a substantial budget deficit. This is stimulating our economy and unemployment and underemployment would be far worse without this.
Morrison’s cuts to welfare will not just harm the recipients but will act to further contract the economy. The whole system of neoliberalism over the last 30+ years has contracted our economy by diverting wealth from consumption which makes up most of our economy to the wealthiest few percent that invariably save or invest in speculative non productive investments like share market or real estate speculation.
We need the agenda that was offered by Bernie Sanders or the Green New Deal that was offered by Jill Stein of the U.S. Green Party. The Australian Greens are offering the same but who is listening?
We not only have increasing public debt, we also have the highest private debt of anywhere in the world, combined with record low interest rates. Our policies have skewed investment towards property and robbed us of productivity-improving and job-creating investments. We have set ourselves up for disaster.