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Greens announce 50% tax on Australia’s obscene pandemic profiteers in response to budget that leaves young people and climate worse off

The Australian Greens have used their Budget in Reply speech to announce a new tax on extreme profiteering by billionaires during the pandemic.  
The new tax, which only applies to the 122 richest Australians, will raise $29 billion. It will be taxed on the amount their wealth increased between March 2020 and March 2021.

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BUDGET 2021: Budget a pre-election gift to Liberals' billionaire mates

Tonight’s Budget is a pre-election sweetener that fails to make billionaires and big corporations pay their fair share of tax, while growing inequality and fast-tracking climate collapse.

While on the surface the budget may appear to do away with the Liberals’ years of austerity politics, it continues the myth that largesse to the super-wealthy will trickle down to everyday people.

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New costing shows billions lost from mining super profits tax reversal

If the Resource Super Profits Tax had not been watered down and then repealed, it would have raised $34.6 billion dollars, enough to give free dental care to every Australian by including dental in Medicare. 
 
A new costing by the Parliamentary Budget Office, provided to the Greens, shows that the decision to give in to the big mining corporations and billionaires by axing the original “mining tax” has cost the Australian budget $34.6 billion, and bringing a super profits tax back would raise $12.7 billion in the first year. 
 

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Greens call on Liberal and Labor to ditch stage 3 tax cuts entirely

Responding to reports that Stage 3 of the government’s tax cuts, voted into law by Liberal and Labor, may not be fully repealed after the next election, Greens Leader, Adam Bandt, has called on Labor to join the Greens in taking on the government by ending the speculation and confusion around their position on the most radical, regressive tax proposal in Australian history.

“These tax cuts, whether you take the stages separately or as a whole, are a radical ideological flattening of our revenue base,” Bandt said.

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Liberal & Labor put millionaires before the million unemployed with deal to pass tax cuts

Leader of the Australian Greens Adam Bandt & Economic Justice Spokesperson Nick McKim have today slammed a deal between the Labor and Liberal parties to ram through tens of billions of dollars in tax cuts and corporate welfare.

Liberal & Labor also opposed Greens amendments that would have excluded millionaires from the tax cuts, and ensured goods purchased with company tax credits were made in Australia.

“Liberal and Labor have put the millionaires ahead of the million unemployed,” said Mr Bandt.

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