"But Rich Corporations NEED those tax breaks"
http://www.abc.net.au/news/2015-12-17/tax-transparency-report/7036708
This is a list of more than 1,500 private entities (i.e. businesses) in Australia, that had a total income in the 2013-2014 financial year of $100 million or more. It only lists individual companies, not groups of companies, and shows how much tax they paid.
Spoiler alert - the first 605 companies paid no tax.
I cannot begin to tell you how angry this list makes me. I worked out that the first 579 companies on the list, if they paid only 10% tax, would result in over $40,588 and one third million dollars into the government coffers. Let me spell it out - forty BILLION, five hundred and eighty eight MILLION, three hundred and fifty thousand, eight hundred and ten dollars. If they paid JUST 10% tax.
Consider this - minimum wage earners pay 19% on every dollar over 18,200. So if these companies paid slightly more than half the minimum tax for individuals, we'd have over 40,000,000,000 going to paying for education, for health, for roads, for investment in Australia that the government keeps cutting back on 'to reduce the deficit'.
Want to know what made me really, really, really see red? Those 579 companies I picked on? Those are just the companies that pay "zero or less tax".
Zero. Or. Less.
Fucking less than zero tax.
Which means we pay these fuckers more in tax returns than they are obligated to pay.
There are 1,529 companies on this list. Only FIVE of them pay 19% or more tax. The highest amount was 23.8%
Meanwhile, my 92 year old grandmother is set to lose part of her pension and benefits, because shirkers and layabouts like her need to step up and financially fix the country.
Angry does not begin to describe how I feel.
This is a list of more than 1,500 private entities (i.e. businesses) in Australia, that had a total income in the 2013-2014 financial year of $100 million or more. It only lists individual companies, not groups of companies, and shows how much tax they paid.
Spoiler alert - the first 605 companies paid no tax.
I cannot begin to tell you how angry this list makes me. I worked out that the first 579 companies on the list, if they paid only 10% tax, would result in over $40,588 and one third million dollars into the government coffers. Let me spell it out - forty BILLION, five hundred and eighty eight MILLION, three hundred and fifty thousand, eight hundred and ten dollars. If they paid JUST 10% tax.
Consider this - minimum wage earners pay 19% on every dollar over 18,200. So if these companies paid slightly more than half the minimum tax for individuals, we'd have over 40,000,000,000 going to paying for education, for health, for roads, for investment in Australia that the government keeps cutting back on 'to reduce the deficit'.
Want to know what made me really, really, really see red? Those 579 companies I picked on? Those are just the companies that pay "zero or less tax".
Zero. Or. Less.
Fucking less than zero tax.
Which means we pay these fuckers more in tax returns than they are obligated to pay.
There are 1,529 companies on this list. Only FIVE of them pay 19% or more tax. The highest amount was 23.8%
Meanwhile, my 92 year old grandmother is set to lose part of her pension and benefits, because shirkers and layabouts like her need to step up and financially fix the country.
Angry does not begin to describe how I feel.