FAT CATS CASH IN

Richard Hil

The more things change, the more….

So; Bill Shorten makes some tepid comments about wage stagnation, the need for a living wage and maybe a rise in the minimum wage and, hey presto, according to Mr Turnbull, he’s lurched to the left again! He can’t be trusted! He’s a closet commie. A raging radcial!  

And then there’s the small matter of the cut to company tax which, as you can see in the US ,has sent the stock market ballistic, then into free-all when there’s the slightest hint of a hike in the inflation rate or interest rates. Ah yes, the almighty market with all its sentiment-driven volatility. The thing is that the Australian people, according to the opinion polls, don’t want company tax cuts because - surprise, surprise - they don’t buy the promise of a trickledown effect. (How much more evidence do we need that this is a class-inspired hoax?). The punters want the Australian government to invest in schools, the health service, affordable housing – crazy things like that. The fact is that profits accruing from cuts to company tax – some of which will, yes, be invested back into businesses, will in all likelihood find their way into private back accounts. If you want to generate income why not retrieve the millions that corporation’s hideaway in tax havens? Or why not give the ATO and other agencies  the resources required to ensure tax compliance among the rcih and powerful and invest it in improving the lot of the majority of the population -without the usual pork-barrelling of course? And while we on the subject of redistributing wealth and income, why not do the same in the university sector where vice chnaclleros (mostly male) are handed huge salary packages while casuals at the bottom of the remuneration pile (mostly women) receive a pittance in comparison.