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AI Will Decimate Income Tax Revenue Downunder

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None other than James Packer, son of the great anti-tax champion billionaire Kerry Packer, is warning that AI will decimate tax revenue downunder. Why? It is because Australia depends upon the income tax from workers for the lion’s share of its tax revenue. AI has already started shedding jobs in middle management and the numbers are going to ramp up substantially very soon. The loss of hundreds of thousands of jobs to machines will impact the bottom line severely. Especially, as multinational corporations and rich people avoid paying tax in Australia.Continue Reading

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tax the rich

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In Australia they are talking about raising the flat consumption tax called the GST. Increasing the GST hurts the working poor more. After 4 years of a cost of living crisis due to high inflation, exacerbated by price gouging by big corporates, and the Reserve Bank steeply raising interest rates the experts think that the poor folk need another kicking. Who do you think copped it in the neck the most over this period? And prices on essentials have not come down, they are merely not rising by so much. Does the federal government really think that those hurting the most financially deserve another price hike on everything?Continue Reading