John Holmes
Failure to tax extreme wealth will fuel far-right surge, warns Gary Stevenson
British economist Gary Stevenson, known as 'the People's Economist' has delivered blunt advice to Australian politicians during his tour of Australia, warning that living standards will continue to deteriorate unless they start taxing the “super-rich elite.”
https://thepoint.com.au/news/260227-failure-to-tax-wealth-will-fuel-far-right-surge-warns-gary-stevenson
Failure to tax extreme wealth will fuel far-right surge, warns Gary Stevenson

British economist Gary Stevenson, known as 'the People's Economist' has delivered blunt advice to Australian politicians during his tour of Australia, warning that living standards will continue to deteriorate unless they start taxing the “super-rich elite.”

Feb 27 at 7:28amWeb
Show threadcroutonFeb 27

@jhaue To date, successive australian governments have either
1) tinkered at the edges to address wealth gap in favour of the population (and dressed up as huge wins), or
2) explicitly or quietly handed wealth to the ultra-rich (which are also perversely dressed up as huge wins) through legalised corruption

There is no mechanism for australians to gain access to the wealth being hoarded by the ultra-rich, with the sole exception of voting in a party that will be able to redistribute.

Which is why huge amounts of money is flowing into media and politics to combat that. The ultra-rich knows about and practice class solidarity even if they don't use the language.

Show threadLats (314 ppm)Feb 27
@jhaue it wasn’t that good until John Howard turbo charged tax against the bulk of the population. The results are pretty clear as housing is now an investment rather than somewhere to live. Undoing the capital gains tax discount would be a great start.
#auspol #capitalgainstax