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Call To Ditch Tax Cuts And Lift The Dole (Read 7180 times)
whiteknight
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Call To Ditch Tax Cuts And Lift The Dole
Feb 14th, 2018 at 11:29am
 
Call to ditch company tax cuts, lift dole

The peak welfare body insists lifting the dole by $75 per week should be an urgent priority in the May federal budget.
SBS News February 13 2018

The Turnbull government is facing pressure to ditch company tax cuts in favour of a $75 weekly increase to those living in poverty on unemployment payments.

The Australian Council of Social Service will unveil its budget priorities on Tuesday.

Increasing dole payments by $75 per week would cost $3.2 billion in 2019-2020, the organisation said in its budget priority statement.

Newstart is $538.80 a fortnight for single people.   Sad

"It would be a big mistake for this government to press ahead with personal and corporate tax cuts when we're facing major funding shortfalls in vital areas such as the national disability insurance scheme, health, needs-based schools funding, and action to reduce poverty," chief executive Cassandra Goldie said.   Sad

The organisation is calling for a crackdown on the use of private trusts to avoid personal income tax to generate $1.5 billion in revenue in 2019-2020.

Dr Goldie said stamping out the use of private companies to avoid personal income tax could bring in $1.4 billion and curbing international business tax avoidance $500 million.

With an estimated one-in-six Australian children living below the poverty line, Dr Goldie said urgent changes were needed for family welfare payments.

Family payments should be restructured so they no longer decline as children grow older and their costs rise, she said.

She added reforming family payments to better target assistance and reduce child poverty would cost $630 million.
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Baronvonrort
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Re: Call To Ditch Tax Cuts And Lift The Dole
Reply #1 - Feb 14th, 2018 at 11:42am
 
whiteknight wrote on Feb 14th, 2018 at 11:29am:
Call to ditch company tax cuts, lift dole

The peak welfare body insists lifting the dole by $75 per week should be an urgent priority in the May federal budget.
SBS News February 13 2018



The dole bludgers think hardworking businesses should give them more sit down money.

The Dole was never meant to be a lifestyle choice, if the bludgers want more money they should get a job the minimum wage is over $17 per hour.


Quote:
SIX MYTHS ABOUT  THE BUSINESS TAX CUT

Myth 1: Australia’s Business Tax Rate  is Not High Australia’s top marginal business tax rate of 30% is one of the highest in the developed world. It is well above the OECD average of 24% and other comparable nations such as the U.K. (17% by 2020), the U.S. (21%), and Singapore (17%).

Myth 2: Dividend Imputation Removes the  Benefits of a Tax Cut Some argue that Australia’s dividend imputation system reduces, or nullifies, the benefits of a company tax cut.3 In most cases Australian shareholders are provided with a franking credit worth 30 cents in the dollar for dividends that have already been taxed at the 30% company tax rate. This means the tax rate paid by the shareholder on dividend income is the difference between their personal income tax rate and the company tax rate. Dividend imputation is important because it removes the double taxation of company income.

Myth 3: Multinational Tax Avoidance  is Widespread Some claim multinational firms avoid tax and shift profits to overseas destinations which reduces their effective tax rate.4 The effect of this would be to erode the business tax base, which would be revealed through a lower ratio of business tax to GDP, and a lower ratio of business tax to revenue. However, the best available evidence suggests the extent of profit shifting is low and the business tax base in Australia has grown overtime.  ◾ Recent empirical work suggests that multinational firms operating in high-tax jurisdictions shift only between 2% and 4% of their profits to lower tax jurisdictions.5  ◾ Professor Sinclair Davidson and Dr Chris Berg found that “the company tax base has broadened over time, especially since the early 1980s.”6
◾ The Australian Tax Office said in 2015 that “…we know that the majority of large businesses operate within the law and pay the right amount of tax.”7 Further, one of the main causes of profit shifting is the relative tax rate difference between Australia and other, lower tax jurisdictions. Reducing the business tax rate in Australia will reduce the extent of profit shifting. In that sense, reducing the business tax rate is a true tax integrity measure.

Myth 4: Company Tax Cuts Only Benefit  Big Businesses Companies do not exist independent of the employees, owners, shareholders, customers, and suppliers they are comprised of. It is these individuals who pay the business tax – through lower wages, lower investment returns, and higher prices – not the businesses per se. And it is these individuals who benefit from the company tax cut. Lower company taxes will increase after-tax profits. This will make Australia a more attractive country for businesses to invest in. This means more businesses will choose to invest more capital in Australia, which will increase economic output and, consequently, the demand for labour and wages growth. The Treasury estimated that reducing the business tax rate to 25% will increase GDP by 1%, or $17 billion each year. The main benefit of a company tax cut will flow to workers.  ◾ Economist John Freebairn found one-half of the benefit of a corporate tax reduction goes to higher wages.8    ◾ Treasury estimated that two-thirds of the benefit of a company tax cut flows through to households, primarily through rises in real wages.9  ◾ Even Former Treasury Secretary Ken Henry stated “if the company income tax were to be cut, the principal beneficiaries will be workers…”10

Myth 5: The Benefits of a Tax Cut will Take Years to Materialise The benefits of a tax cut will be immediate. To date more than 160 firms in the United States have provided staff bonuses, pay rises, and other benefits as a direct result of the Trump administration cutting the United States’ corporate tax rate to 21% from 35%. These include: ◾ AT&T, the world’s largest telecommunications company, paid a $1,000 bonus to 200,000 workers.11  ◾ Boeing invested an additional $300 million on employeerelated and charitable activities.12  ◾ Walmart, the world’s largest company, announced it would also spend $300 million on wage increases, including bonuses of up to $1,000 per employee.13 Similar results would occur in Australia: ◾ Elmer Funke Kupper, CEO of the ASX, said cutting the business tax in Australia to 25% “would allow us to increase staff by 10 to 15 per cent.”14 ◾ Andrew Mackenzie, CEO of BHP Billiton, said tax cuts could lead to projects being approved within months.15 ◾ Alison Watkins, Group Managing Director at Coca-Cola Amatil said “there’s no doubt a lower company tax rate makes Australia a more attractive place to invest capital and create jobs.16

Myth 6: The Tax Cut is Unaffordable Some argue the proposed tax cut is unaffordable.17 However, this assumes that a tax cut is equivalent to additional expenditure. This is false.


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Baronvonrort
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Re: Call To Ditch Tax Cuts And Lift The Dole
Reply #2 - Feb 14th, 2018 at 11:43am
 
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Leftists and the Ayatollahs have a lot in common when it comes to criticism of Islam, they don't tolerate it.
 
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whiteknight
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Re: Call To Ditch Tax Cuts And Lift The Dole
Reply #3 - Feb 14th, 2018 at 11:44am
 
When will the unemployed ever get a fair and just increase?.   Sad
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Baronvonrort
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Re: Call To Ditch Tax Cuts And Lift The Dole
Reply #4 - Feb 14th, 2018 at 11:45am
 
whiteknight wrote on Feb 14th, 2018 at 11:44am:
When will the unemployed ever get a fair and just increase?.   Sad 


When they get a job

Wink
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Re: Call To Ditch Tax Cuts And Lift The Dole
Reply #5 - Feb 14th, 2018 at 11:45am
 

What sort of idiot would assume that everyone on the dole is a bludger?                  Undecided

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Baronvonrort
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Re: Call To Ditch Tax Cuts And Lift The Dole
Reply #6 - Feb 14th, 2018 at 11:47am
 
greggerypeccary wrote on Feb 14th, 2018 at 11:45am:
What sort of idiot would assume that everyone on the dole is a bludger?                  Undecided



Nobody cares what you say little pecca, you reneged on your bet with Bias and lied about leaving this forum if Trump won the election

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Leftists and the Ayatollahs have a lot in common when it comes to criticism of Islam, they don't tolerate it.
 
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greggerypeccary
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Re: Call To Ditch Tax Cuts And Lift The Dole
Reply #7 - Feb 14th, 2018 at 11:51am
 
greggerypeccary wrote on Feb 14th, 2018 at 11:45am:
What sort of idiot would assume that everyone on the dole is a bludger?                  Undecided



There's my answer    Smiley
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Grappler Truth Teller Feller
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Re: Call To Ditch Tax Cuts And Lift The Dole
Reply #8 - Feb 14th, 2018 at 11:59am
 
Baronvonrort wrote on Feb 14th, 2018 at 11:45am:
whiteknight wrote on Feb 14th, 2018 at 11:44am:
When will the unemployed ever get a fair and just increase?.   Sad 


When they get a job

Wink


How many jobs will I put you down for?
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Baronvonrort
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Re: Call To Ditch Tax Cuts And Lift The Dole
Reply #9 - Feb 14th, 2018 at 12:02pm
 
Grappler Truth Teller Feller wrote on Feb 14th, 2018 at 11:59am:
Baronvonrort wrote on Feb 14th, 2018 at 11:45am:
whiteknight wrote on Feb 14th, 2018 at 11:44am:
When will the unemployed ever get a fair and just increase?.   Sad 


When they get a job

Wink


How many jobs will I put you down for?


I have a job.

If I became unemployed I couldn't get the dole they don't give it to people with money in the bank and income from investments.

I couldn't get a pension with the assets test so I will have to be self funded in retirement.

Perhaps I should have sat on my ass and asked for handouts like those who want to spend other peoples money.
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Grendel
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Re: Call To Ditch Tax Cuts And Lift The Dole
Reply #10 - Feb 14th, 2018 at 12:51pm
 
Baronvonrort wrote on Feb 14th, 2018 at 11:42am:
whiteknight wrote on Feb 14th, 2018 at 11:29am:
Call to ditch company tax cuts, lift dole

The peak welfare body insists lifting the dole by $75 per week should be an urgent priority in the May federal budget.
SBS News February 13 2018



The dole bludgers think hardworking businesses should give them more sit down money.

The Dole was never meant to be a lifestyle choice, if the bludgers want more money they should get a job the minimum wage is over $17 per hour.[/size]


yeah a part time job at $17 an hour 4 hours a day 2 days a week will be $136 mostly youth jobs.  Older workers in the 770,000 unemployed are stuffed.  NO JOBS AVAILABLE FOR ANY OF THEM.
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RightSaidFred
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Re: Call To Ditch Tax Cuts And Lift The Dole
Reply #11 - Feb 14th, 2018 at 2:30pm
 
Baronvonrort wrote on Feb 14th, 2018 at 12:02pm:
Grappler Truth Teller Feller wrote on Feb 14th, 2018 at 11:59am:
Baronvonrort wrote on Feb 14th, 2018 at 11:45am:
whiteknight wrote on Feb 14th, 2018 at 11:44am:
When will the unemployed ever get a fair and just increase?.   Sad 


When they get a job

Wink


How many jobs will I put you down for?


I have a job.

If I became unemployed I couldn't get the dole they don't give it to people with money in the bank and income from investments.

I couldn't get a pension with the assets test so I will have to be self funded in retirement.

Perhaps I should have sat on my ass and asked for handouts like those who want to spend other peoples money.


Similar for me except my wife is a CFO.
We are both looking at early semi-retirement in 5 years or so.
On top of our investments we have both been paying into super all of our careers, that alone adds up to a big number there is no way we would qualify for a pension.
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Bam
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Re: Call To Ditch Tax Cuts And Lift The Dole
Reply #12 - Feb 14th, 2018 at 3:57pm
 
Baronvonrort wrote on Feb 14th, 2018 at 11:42am:
whiteknight wrote on Feb 14th, 2018 at 11:29am:
Call to ditch company tax cuts, lift dole

The peak welfare body insists lifting the dole by $75 per week should be an urgent priority in the May federal budget.
SBS News February 13 2018



The dole bludgers think hardworking businesses should give them more sit down money.

The Dole was never meant to be a lifestyle choice, if the bludgers want more money they should get a job the minimum wage is over $17 per hour.

15% of the workforce was NEVER supposed to be kept out of work without their consent by deliberate government policy. The current intentional and chronic shortage of jobs means one thing - for unemployed people to get into work, you have to risk losing YOUR job.

It doesn't have to be like this. Only full employment mandated by law can get everyone into work.

Baronvonrort wrote on Feb 14th, 2018 at 11:42am:
Quote:
SIX MYTHS ABOUT  THE BUSINESS TAX CUT

Myth 1: Australia’s Business Tax Rate  is Not High Australia’s top marginal business tax rate of 30% is one of the highest in the developed world. It is well above the OECD average of 24% and other comparable nations such as the U.K. (17% by 2020), the U.S. (21%), and Singapore (17%).

A very simplistic argument that hides some inconvenient facts. The actual company tax rate paid by large corporations is about 22%, and with the huge amounts of money paid out in corporate welfare it's closer to 17%. We can reduce company taxes without smashing the Budget, but only if corporations are willing to take very deep cuts to their corporate welfare. Some measures that can be axed: dividend imputation, private health insurance rebate, fossil fuel subsidies, all corporate welfare for private infrastructure, corporate grants for water efficiency, etc.
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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.
 
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Bam
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Re: Call To Ditch Tax Cuts And Lift The Dole
Reply #13 - Feb 14th, 2018 at 4:00pm
 
Baronvonrort wrote on Feb 14th, 2018 at 12:02pm:
Grappler Truth Teller Feller wrote on Feb 14th, 2018 at 11:59am:
Baronvonrort wrote on Feb 14th, 2018 at 11:45am:
whiteknight wrote on Feb 14th, 2018 at 11:44am:
When will the unemployed ever get a fair and just increase?.   Sad 


When they get a job

Wink


How many jobs will I put you down for?


I have a job.

If I became unemployed I couldn't get the dole they don't give it to people with money in the bank and income from investments.

I couldn't get a pension with the assets test so I will have to be self funded in retirement.

The assets test for the aged pension is a crock of sht. We could actually save money by scrapping the assets test for the pension, paying everyone of pension age the aged pension, and paying for it by scrapping tax concessions for self funded retirees and reducing the tax concession for superannuation contributions to a real 15% discount at all income levels.
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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.
 
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Valkie
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Re: Call To Ditch Tax Cuts And Lift The Dole
Reply #14 - Feb 14th, 2018 at 6:23pm
 
Baronvonrort wrote on Feb 14th, 2018 at 11:47am:
greggerypeccary wrote on Feb 14th, 2018 at 11:45am:
What sort of idiot would assume that everyone on the dole is a bludger?                  Undecided



Nobody cares what you say little pecca, you reneged on your bet with Bias and lied about leaving this forum if Trump won the election



No, I agree with the baron

You are a liar and no one trusts you at cares for your inane comments.
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I HAVE A DREAM
A WONDERFUL, PEACEFUL, BEAUTIFUL DREAM.
A DREAM OF A WORLD THAT HAS NEVER KNOWN ISLAM
A DREAM OF A WORLD FREE FROM THE HORRORS OF ISLAM.

SUCH A WONDERFUL DREAM
O HOW I WISH IT WERE TRU
 
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