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Why Are We Getting Poorer?

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Why is everything so expensive now? What price life? Why are we getting poorer? First and foremost, the entire economy is set up to greatly favour owners over all other parts. Investors are owners, of course, and the company executives operate on their behalf. Shareholders are king and everyone else runs a poor second. Thus, profitability is always the prime consideration and profits have to constantly increase to satisfy the shareholders. Plus, executives manipulate the stock price through buybacks to enrich themselves wildly. This is where we get all the billionaires from. Elon Musk is a prominent illustration of this, the richest man in the world.Continue Reading

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We Have Always Looked To America

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In Australia, we have always looked to America for ideas and inspiration. Indeed, our business community models itself on the US via importing their CEOs and MBAs. The push from the big end of town and the LNP Coalition is, invariably, toward making this nation more like the USA. Former PM Tony Abbott tried to privatise higher education, thankfully, unsuccessfully. The Libs have wanted to kill off Medicare for some 50+ years, again, thankfully, without success. Peter Dutton, the unseated former Liberal leader of the opposition, brought out Donald Trump’s campaign director downunder to assist with the last federal election. This proved not to be a great idea for Peter and the party.Continue Reading

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Four Corners Exposes $50 Billion ATO Losses

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ABC investigative reporters at work, as Four Corners exposes $50 billion ATO losses. The old joke about feeling like a mushroom, kept in the dark and fed on shit, comes to mind when considering what really goes in the halls of power. Macro corruption is the term used to describe the situation in Australia, where the amounts are very large when dirty deeds are done downunder. Scamming millions of dollars from the tax office via bogus GST claims would be an unlikely occurrence one would think. I mean, the ATO is a pillar of our whole national edifice, so it must be bristling with top line security, right? Wrong, it is a $50 billion black hole bad joke on that score.Continue Reading

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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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Big American Corporations Not Paying Their Fair Share Of Tax

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In: corruption, democracy, economics, Government, latest post, media, politics

We now know why the Big Tech oligarchs switched their allegiance to Donald Trump. It was all about the international effort to end Big American corporations not paying their fair share of tax in the countries they do business. Former US President Joe Biden had backed this initiative, as had Australia and Europe. Trump took the money from Google, Facebook, Amazon, Elon Musk and other tech giants backing his campaign and in return has bullied those nations who were attempting to get these corporations to pay their fair share of tax on the billions they generate around the world. The selfishness of these Americans knows no bounds.Continue Reading

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paper map of australia placed on wall

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Australia has set the bar too low, when it comes to societal expectations around things like civic responsibility. Decades of neoliberalism infecting our governments on both sides of politics has seen a huge slide in respect for the role of government in managing our social contract. The late Kerry Packer was lionised for his tough talk to the senate on tax minimisation and its merits in Australian life. We now face an impending tax revenue crisis, as corporations continue to dodge their taxation responsibilities through clever accounting practices. Wealthy Australians think that it is OK to avoid paying tax wherever they can. Packer told his audience that smart people don’t pay tax where possible and that government’s waste their money anyway. This has become an established narrative in the Aussie cultural canon.Continue Reading