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Labor’s Buffett-lite raises less than 4% of what a proper Buffett Rule would

Greens Treasury Spokesperson, Senator Peter Whish-Wilson, has called upon Labor to stop fiddling at the edges with top-end tax rorts and adopt a proper Buffett rule to get serious about addressing inequality.

Senator Whish-Wilson said, “What Labor proposed last night was the version of the Buffett Rule you adopt when Chris Bowen won’t let you have a Buffett Rule. A proper Buffett Rule would raise nearly $39 billion over the medium term, not a measly $1.3 billion.

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Buffett Tax, deficit levy and undoing top-end tax cuts a fairer way to raise revenue

Greens Treasury spokesperson, Senator Peter Whish-Wilson, is calling on the Parliament to implement a Buffett Rule to make sure that executive fat cats don’t rort the tax rules so they pay less than the average wage earner.

Senator Whish-Wilson said, “If we were to make the deficit levy permanent and were to undo the $315 tax cut to the top 20% of income earners we would have a much more progressive income tax system and raise almost three-quarters of the amount that a flat increase to the Medicare Levy would raise.

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Comments on Budget 2017

“If you’re under the age of 35, you’ve been screwed over in this budget - whether it’s the gouging of higher education, the lack of action on climate change or the refusal to tackle housing affordability,” Leader of the Australian Greens Dr Richard Di Natale said.

“It’s clear that the Government finally understands you can’t just keep cutting spending without raising revenue. But this is a budget with no vision or direction for the country. It isn’t a roadmap for the future, it’s a highway to nowhere,” Dr Di Natale said. 

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House prices skyrocket since Cabinet rejected capital gains tax reforms

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Turnbull needs to stop throwing petrol on the housing fire

Greens Treasury spokesperson, Senator Peter Whish-Wilson, is today calling on the Government to end its reckless support for negative gearing and capital gains tax discounts that are fuelling a housing crisis.

Senator Whish-Wilson said, “It doesn’t seem to matter which expert comes out against negative gearing or what happens to house prices, the Government remains in denial about its role in the housing crisis.

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Government cons crossbench into multi-billion dollar corporate tax cut

In exchange for a hand-written list of reviews, inquiries and vague commitments, the Government has conned the Xenophon party into supporting a $15 billion hit on an already stressed Commonwealth budget.

“Today is a win for the Government’s corporate donors, and a punch in the guts for everyone else,” Australian Greens Acting Leader Senator Scott Ludlam said in the wake of the marathon Senate sitting.

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Housing boom driving Australian inequality

The Australian Greens have commented on an OECD report warning of a ‘rout’ in Australian house prices.
 
Greens Treasury spokesperson, Senator Peter Whish-Wilson, said that the OECD report confirms that “the big-four banks are creaming it.”
 
“CBA, NAB, ANZ and Westpac are all profiting off a housing boom that threatens to undermine the entire economy. And they’re doing it all with the benefit of government guarantees that they don’t have to pay for. This is a scandal.
 
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