What Australians Could Have...
THE TLDR: Four changes in legislation could give the Aussie Government an extra $390 billion to spend. If Aussies introduced or amended: Corporate Super profits tax, Petroleum Resource Rent Tax, 10% Loyalty on Offshore Gas and Reducing Fuel Tax Credits we could ... remove Hecs indexation, make uni free, build social housing, metal & dental into medicare, high speed rail on the east coast, boost school funding, build hospitals, boost public research, help farmers, give everyone $1000 and still post a surplus!
KEY FACTS:
1️⃣ Massive Revenue Potential:We could have $390 billion in mining royalties and taxes which could theoretically fund major public investments like free university, solving housing crisis, mental health/dental in Medicare, and high-speed rail.
2️⃣ Australia could easily afford these popular but unfunded policy ideas with proper resource taxation of companies.
3️⃣ Reality Check: The harsh reality is that mining companies can simply "refuse to pay what they owe," highlighting the gap between theoretical tax revenue and actual collection from powerful industries.
Delve deeper with our Punter Citations:
The Guardian: You be the treasurer: scrap the stage-three tax cuts, spend money, or pay down the federal budget deficit
Bonus Resource
The Australia Institute: Raising revenue right: Better tax ideas for the 48th Parliament
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