Billionaires pay lower tax rate
$45 billion deficit because the government does not want, in 2026 to offend multi-billionaires. The multi-billion dollar-earning corporations should be paying the same rate of tax today as they did in the 1970’s, 45%. Why not? That is what voters pay, on earnings over $180,000 a year. Staggering isn’t it. A public corporation is quite a separate legal taxpayer entity to its shareholders. It is amazing that it can earn $180 billion and still pay a lower tax rate than a voter on earnings over $180k. And the voter pays 10% extra in GST on spending, that corporations don’t pay.
This determination to keep tax rates down for the billionaires is corrupt. It deprives us of money for hospitals and aged care, single sex public high schools. It leaves us without police and emergency workers, or courts that can hear domestic violence cases promptly.
The joke is on us
The joke really is on us. The SMH ran a story recently on how big banks make billions from our free money we leave in the bank interest-free. The screamer is that the banks then lend that money to our government at interest. Next the government then charges us taxes to pay the banks interest. That is interest on the money we give them for free. We must be mad!!
How could the government do better?
It is hardly the fault of our politicians. Those charged with looking after our finances, taxes and the economy have few qualifications or experience if any in doing so. Yet out there in voter land we have economists and accountants who are highly skilled at it. We know that with Votergrams it is possible to give our MPs good solid advice and that they will gladly take it. From the Votergram service has grown a network of voters throughout Australia who form Voters Interest Groups (VIGs).
We would now like to launch a new VIG consisting of accountants and economists We need some who can put aside for a bit any party-political preference. They would focus on guiding all MPs of whatever persuasion. The focus of the group will be to encourage the MPs in charge of finance and treasury portfolios to act more in the interest of the Australian people. They can stop government acting for the big business, banking, mining and property magnates. Only with the support of voters will the politicians be game to offend this rich and powerful group of people. It is a group that will not hesitate to bribe, bully and threaten MPs to get its way.
Give us a hand
Are you are qualified and experienced in finance, accounting or economics? Would you like to make a contribution to the management of Australia’s finances, taxes and economy? If so please email me at greg@voters.au. Myself, I am a retired FCA, CPA, ACIS, AICD who has run a professional Chartered Accountancy firm and my own businesses and farms. I am committed to guiding the government to make Australia a fair and just country with equal opportunities for all. I have no party-political favourites. What I know from experience is that by Votergram we can influence the thinking and actions of many if not all MPs. They really have been very responsive to ideas sown into parliament, some of which flourish with astounding results.
