Well it seems our government has a different term for undercover tactics - they call it Tax Reform. It is obscene what these so called leaders are doing. Wealth creation was never something createdd by governments and it seems they want to drive any idea that it is good for business's to make a profit above the Government Bod rate.
I recently listened to a staff member of treasury interviewed - when he was questioned on how they knew what was best for the country - He Said something like :
"I find that offensive, you must realise we recruit people with the best IQ 's in the country, they know more than the average Joe what is best for Australia."
With people like that in the public service we are stuffed regardless of who is in government.
I was alerted to this from an email I get from these guy's :
Quote from Daily Reckoning :
Henry apparently wants to hit all Australian businesses with a "super profits tax", according to today's Australian. According to the paper: Background papers prepared for the Henry review explain that this [super tax applied to all businesses] would allow companies to earn a return on their equity investment, which should be no greater than the government bond rate. Profits higher than this would be treated as a super profit or economic rent, and would be taxed at a higher rate."
--Is this guy for real? They would "allow" companies a certain return on their equity investment
Artcle in The Australian :
A super-profits tax should be rolled out for all companies in Australia as a long-term reform.
Treasury secretary Ken Henry says the tax would be similar to the model proposed for mining groups.
Companies would be able to earn up to the government bond rate tax-free, but would then pay a heavier tax on "super-profits" above that level -- although less than the 40 per cent mining tax.