Tuesday, March 27, 2018

Pay your tax

As a pay tax as you go wage slave, I don't have opportunities to rort the tax system. We did when we had our investment flat, and while we did very nicely with capital gain, the sale of said flat paying off this place, we paid a huge amount of capital gains tax. Fire fighting nephew could have lived in the place for free for twelve months and we pretended we lived there and there would have been little tax to pay and we would be so much better off.

Our Brother Friends used to get money spent on their own home billed as a tax deductible expense on their investment flat. People are rorting the system all the time.

It is curious to me that our government wants to cut company tax. The federal government has just cracked down even harder on the poorest of our society, yet it wants to cut company tax. Transfer money from the poorest to the profitable companies? Yet, it is not like companies here pay tax anway, well not if they are multinational tech companies. Tax reduction in company tax to 25% of nothing doesn't equal very much. 

It seems our Senate has quashed the company tax cut. This is good news.

EC first featured this cartoon when she went off exploring in an art gallery. Still capitalists believe in trickle down economics, where the poorest get richer as the richest get richer. It has been well proven that it is a failed theory. Here is the clever enough cartoon. 

12 comments:

  1. Can only agree, it's the same here. The poorest are taxed the most ! We even are taxed on our pension !! Imagine, you pay your whole life for that included in the income tax and then when they have to pay your pension you are taxed again !!

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    1. Gattina, tax on pensioners is very topical here too.

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  2. I can't believe 'they' still think trickle down economics is a viable idea. WE all know it just doesn't work further than the Fat Cats.

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    1. River, surely it is pretence by the money makers now. We have heard about it for a long time and never seen it work.

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  3. I can't figure why big multinationals don't pay enough tax, they make big profits why not pay tax? It's always the same, the poorest as always the ones to suffer.

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    1. Sami, simply, they borrow money and have debt and the interest on the debt is tax deductible. They move the debt around to whatever country they want to.

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  4. Here the poor have it hard but are blamed for everything wrong and the rich bitch the most over every penny.

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    1. Strayer, I know and it is crap an we are going down the US road here.

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  5. The cartoon is brilliant Andrew, the perfect pictorial analogy of the trickle down theory ☺

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    1. Grace, I thought it did picture the reality well. Thanks.

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  6. I am not sure that even the capitalists believe in the trickle down theory. It is words they spout to get away with/justify further filling their own pockets. And thanks for the link.

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    1. EC, they are usually smart people and of course they know it does not work. It is a slogan made up for the consumption of the poor.

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