This is a pretty cool infographic on the sheer size of the Stage 3 tax cuts. Worth a look.
The stage 3 tax cuts are too big to fit on a single screen. We had to get creative to put them into perspective.
www.abc.net.au
It is an interesting graphic, but you can't tax an economy into prosperity, and it's wrong to think that higher taxes leads to higher Govt revenue.
Take a look at the corporate tax cuts introduced by Trump during his presidency. The critics were saying that this move was to directly help the rich. Those same people must have missed the debate where Trump claimed the whole system was rigged against the poorer people, because when he was asked by the commentator how he knew this, Trump responded by saying "Because i use it"!
The corporate tax cuts did not favour the "rich"! If they did, why is all of Wall St, and the corporate media which is owned by Wall St basically at war with the Trump movement?
Wall St companes do not pay tax the way you and i do. One might argue that once they've off shore'd almost all of their income and picked through every other loop hole available, they basically pay no tax at all.
On the other hand, the guy who lives two doors down from you who runs a small factory with 6 employees, pays his taxes in the local economy, so when he gets a tax break, he's suddenly in a position to employ a 7th person and start to grow. Of couse, if all these smaller companies are growing and employing, then the top end of town starts losing some of their market share.
The result, prior to the once in a 100 year virus, was that there was record employment of black, hispanics and women. The economy, had more revenue than it ever had because of the tax cuts. The funny thing is, that for some reason, people think that the government is going to spend their money more wisely than we'd spend it ourselves.
Now look at one of Biden's strategies to employ another 87000 IRS agents! How convenient, considering the way these agents have been used since Barrack Obama got into power! Even whistleblowers who are coming forwad now, are having the IRS turn up at their doorstep without the normal procedures that usually precede these visits.
For Biden to suggest he is going to boost Govt coffers by going after big companies with these agents is a downright lie.
If these agent go after big companies, they will lose more in court actions than they will gain through the tax investigations. That's what happens when you go after the big guys. If you go after the small guy with 6 people in his factory, he will smudge his undies and pay whatever he's told to pay. He can't afford to fight.
One of the reasons i have't been on these forums much of late is my involvement in a court action for a 9.6 million dollar fraud. This case has dragged from 2014, and revolves around a fraud from 1997 to 2014. The fraud squad has only investigated back 5 years for the 9.6mil. The estimate is that around 29 mill was taken, but had we kept goin gback, the cas would have never got into the court system. As it stands now, it's been adjourned so many bloody times it's mind numbing, with the next court appearance due in August this year. If the defendant decides to plead not guilty, we will likely have to wait a good 18 months to ge the case to trial, as it's estimated that it will tie a jury up for at least 8 weeks. The brief alone is over 3000 pages. There are 2000 charges in just those 5 years. This individual is even tied up in the Mayfair 101 debacle with the Dunk Island development.
The point i'm making is that this is a case against an individual who has stolen so much that he can afford to employ the services of an ex federal attourney general to defend his case. Look at the time and the money goin into this! Imagine going after a multi national!
independentaustralia.net
