Prosper Australia

photo credit: yewenyi “The mismanagement of both the federal tax powers and Australia’s natural assets by the Gillard government is sickening,” Prosper Australia Campaign Manager David Collyer said today. “They are allowing the miners to gouge our country twice.” “Treasury modelling estimated the new mining tax negotiated by the Gillard government will bring in $100 [...]

Last Thursday, the Australian Financial Review leaked Treasury forecasts that the revenues lost in the Gillard Government’s back down on the mining tax will exceed $100 billion over the next ten years

If anyone needed evidence that we live in a plutonomy, here it is. Australian citizens would be rioting in the street if they understood this conspiracy.

The Gillard government today announced a levy on income taxes to pay for the Queensland floods: half a per cent on incomes over $50,000, one per cent on incomes over $100,000

photo credit: Fabrice ROSE The Senate Select Committee on New Taxes is pondering the implications of the Mineral Resource Rent Tax, holding a hearing yesterday in Perth. Here is a new tax measure that, even diluted for the election, will still raise over $10 billion a year. This is a beautiful tax: it doesn’t distort [...]

photo credit: Grégory Tonon   This week’s backdown by the federal labor government on the Mineral Resource Rent Tax will cost Australian taxpayers $35 billion over the next ten years. The shortfall in government revenues will be made up from taxes on work and taxes on business.  That means it is coming out of your [...]

photo credit: Urban~Spaceman Miners finally agree to tax reform. What are the changes? The attempt to harness economic rents for the public good has been renamed from the Resource Super Profits tax to the Mineral Resource Rent Tax. The MRRT kicks in at the corporate bond rate plus 7%. That is 12%, rather than the [...]

“Gillard must come out strongly and call the lobbyists for who they are. She must assert control over the RSPT rather than negotiate with each and every individual company.

photo credit: Gary Denness Harold Mitchell, advertising supremo, summed up the mood that led to Kevin Rudd’s downfall, as quoted in the AFR, 23 June: It is an ‘amazing fact’ that ‘ordinary people on the street are barracking for five people…who have got so much money they don’t know what to do with it’. The [...]

Part 3 to Phil Anderson’s Asset Bubbles Forever talk – what is the future for this commodity bubble?