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Tax Cuts

Australian politics and the revolving door of the Prime Minister’s Office might remind you of post 1945 Italy where changing government was almost a national sport.

Apart from personality differences it is enlightening to point to two major policy issues that created considerable heat in the recent turmoil, namely reducing company tax and dealing with the supply of electricity (but not the cost).

The concept associated with “giving huge tax cuts” to the (not very well liked) banks is presented to the hardworking battling Aussie as giving money, our taxpayers money, to organisations which do not deserve it.

Who owns the banks? Who gets the benefit of tax cuts to the banks?

The answer: Hardworking battling Aussies whose superannuation funds certainly own a substantial number of shares in those banks.

The expression “made round to go round” certainly applies to money given to (or not taken from) large publicly owned corporations.

The banks are included here, as is BHP.