Tag: Trickle Up

jobs

JobKeeper gravy train keeps rolling on for corporate welfare rorters
Some have got off but all to few to call it a trend

Yesterday we kicked off the corporate welfare awards with a round of prizes for some of the most dubious JobKeeper recipients — billionaires, investment bankers and large companies handing out big dividends to shareholders with one hand while taking from the taxpayer with the other. Roll up! The greatest rort on earth is playing out in a company near you Read More Today we continue the theme with another round of accolades for business heavyweights who cashed in on the $100 billion scheme. Some were gracious enough to hand it back — a noble and PR-worthy act. Others couldn’t quite bear to part with the cash. We also give a gong to the little companies that made big profits thanks to the scheme. Here’s hoping they don’t fly under the radar.

JobKeeper gravy train keeps rolling on for corporate welfare rorters
LNP, LNP Economic Management, LNP Government

BossKeeper: how JobKeeper lined the pockets of top ASX directors, executives and shareholders – Michael West
JobKeeper rorting by business

New Zealand and the US compile public registers to ensure their Jobkeeper-type subisidies are not rorted by businesses. But no such transparency for Australians. As the Government singles out bureaucrats such as Australia Post chief Christine Holgate for corporate excesses, Tasha May shines the torch on pandemic rorting at the top end of town. JobKeeper is the single largest piece of government spending in the country’s history. Yet despite taxpayer funding this hundred billion dollar wage subsidy, there is no public database to see whether JobKeeper is being used appropriately. From the limited information that has come to light, it seems clear that it is not. A report from governance advisory service Ownership Matters reveals four kinds of appalling activity by business.

BossKeeper: how JobKeeper lined the pockets of top ASX directors, executives and shareholders – Michael West
Trumpland, Trumpland Revealed, Uncategorized

‘Nightmare Scenario That Everyone Predicted’: As Millions Struggle to Meet Basic Needs, Trump Organization Requests Financial Relief | Common Dreams News

Then-Republican presidential nominee Donald Trump delivered remarks with his children—from left, Donald Trump Jr., Ivanka Trump, and Eric Trump—during the grand opening ceremony of the new Trump International Hotel in Washington, D.C. on Oct. 26, 2016. (Photo: Chip Somodevilla/Getty Images)

via ‘Nightmare Scenario That Everyone Predicted’: As Millions Struggle to Meet Basic Needs, Trump Organization Requests Financial Relief | Common Dreams News

Informed Comment, Uncategorized

The Trickle-up Conspiracy – » The Australian Independent Media Network

via The Trickle-up Conspiracy – » The Australian Independent Media Network

Socialism, Uncategorized

RBA told to ‘mobilise all forces’ to save the economy from climate change

Climate crisis could spark Reserve Bank rescue mission

Are we expected to protect the unprofitable? Was the ‘free market ever really ‘free’ or rigged to trickle up ? Suddenly the term Socialism for the rich comes into focus. How about mobilising forces for clean energy? Are ordinary Australians expected to insure the profits of the extraordinary few? Particularly those who continue to invest in the unwanted? We have done that for the past 20 years and flatlined  wages, issued company tax cuts and a variety of other economic decisions favouring the ever growing  unequal share of GDP in this country. Particularly clean air, water  and public health. We have seen the family of one working to survive become two, three and even families merging to survive.

The cry to “mobilise” forces has always been at the expense of “work forces”. Insurance companies are about to take a hit Scott is about to insure all Australia is to bear the cost easing the burden on the only “some”. Needless to say who will benefit the most. (ODT)

The Reserve Bank has been warned it may have to buy up coal mines and fossil-fuel power stations as part of extraordinary actions to save the economy from climate change-induced financial disaster.

The BIS said climate change events that severely affected the financial health of the banking and insurance sectors could force central banks to intervene and “buy a large set of carbon-intensive assets”.

via RBA told to ‘mobilise all forces’ to save the economy from climate change

TAX, Uncategorized

Billionaires to 2020 Presidential Hopefuls: ‘America Has a Moral, Ethical, and Economic Responsibility to Tax Our Wealth More’ | Common Dreams News

protester

It’s a cry for adjustment not systemic change (ODT)

via Billionaires to 2020 Presidential Hopefuls: ‘America Has a Moral, Ethical, and Economic Responsibility to Tax Our Wealth More’ | Common Dreams News

"politics of envy", Australian Politics, Uncategorized

Politics of envy: Feeding the rich in an entitled society

Australia has become a country that takes from the poor to give to the rich.

This morning, the Financial Review had a piece titled ‘Tax cuts are no handout to the rich’. Well, of course, they would say that, as their whole purpose as a media publication is to write pieces that are of interest to those with money or interested in money.

What really grated, though, was this tweet which the Liberals also flogged:

Unless the full tax cut package is passed, high income earners risk losing out to the “silent thief” of tax bracket creep, according to new analysis.

We are constantly told we need a surplus and we can’t afford to “waste” money. The Government has no money to help the homeless, raise Newstart, raise the pension or support community legal services — in fact, they are always looking for “savings” in these areas. Savings being the euphemism for cuts.

But the Government does have money to spend on tax cuts for those on high wages and big business.

Now, if everyone in Australia is supposedly equal, how can a Government justify giving wealthier people more money when we have people who are homeless, starving and living in abject poverty?

Worse. When this issue is raised, it is called “politics of envy”.

via Politics of envy: Feeding the rich in an entitled society

Informed Comment

No matter how much you give the rich, they will always want more – » The Australian Independent Media Network

It seems astonishing that, in a country where one in eight adults and more than one in six children are living in poverty, and many of those are living in “deep poverty”, the Coalition’s election focus is on tax concessions and tax cuts for the wealthy – and they seem to be getting away with it.

In 2004-05, the top income tax rate kicked in at a taxable income of $70,000. Four years later, that had risen to $180,000. Meanwhile, the tax free threshold remained at $6000 from 2000-01 until Julia Gillard increased it to $18,200 to compensate for the introduction of carbon pricing in 2012-13.

When Tony Abbott got rid of the mining tax, he also repealed many payments to low income earners, including income support benefits to children of soldiers killed or seriously injured in service.

via No matter how much you give the rich, they will always want more – » The Australian Independent Media Network

Great Barrier Reef

Leaked documents show reef charity directors ‘unavailable’ for Senate scrutiny

SOS: Where is the ACNC? Why isn’t it investigating the lack of seeming tranparancy (ODT)

Three directors of a Great Barrier Reef charity entrusted with almost half a billion dollars in public money have refused to give evidence to a Senate inquiry scrutinising the controversial deal, raising the prospect they will be forced to appear.

Confidential Senate committee documents seen by Fairfax Media show that despite being offered five dates at which to attend the inquiry, the directors of the Great Barrier Reef Foundation say they are unavailable for questioning, variously citing overseas travel commitments, medical appointments, board meetings and other unspecified engagements.

The inquiry was launched following the Turnbull government’s decision to grant the small, business-focused charity $443 million to help rescue the reef. The foundation has previously said it would “fully co-operate” with the probe.

via Leaked documents show reef charity directors ‘unavailable’ for Senate scrutiny

social welfare

Australia takes from the poor to give to the rich

Australia has become a country that takes from the poor to give to the rich.

It is the wealthiest Australians who enjoy the most support.

via Australia takes from the poor to give to the rich

Donald Trump

Donald Trump to dissolve his charitable foundation after mounting complaints | US news | The Guardian

President-elect released statement saying he would dissolve Trump Foundation to avoid ‘even the appearance of any conflict with my role as President’

Source: Donald Trump to dissolve his charitable foundation after mounting complaints | US news | The Guardian

Globalisation

Globalisation: Winners and losers in the gathering storm of alienation

The inequality and alienation of globalisation has seen a backlash in the UK, U.S. and now Australia. John Menadue flags a serious gathering storm ahead.

Source: Globalisation: Winners and losers in the gathering storm of alienation

Tax rorts

$1,400,000,000,000: Oxfam Exposes the Great Offshore Tax Scam of US Companies

“We have evidence of a massive systematic abuse of the global tax system.

Source: $1,400,000,000,000: Oxfam Exposes the Great Offshore Tax Scam of US Companies

Income Gap

If You Own a Pitchfork, You Will Grab It When You See This Chart | Mother Jones

The Trickle Down Effect that Just didn’t Trickle The Bailout worked with a trickle up

If You Own a Pitchfork, You Will Grab It When You See This Chart | Mother Jones.