During the pandemic, Australia’s billionaires made more money than billionaires anywhere else in the world.
Gina Rinehart more than doubled her wealth and is now worth $36 billion. Twiggy Forrest, Gina Rinehart and Clive Palmer increased their personal wealth by 141% between them during the pandemic. Their wealth is extreme and obscene.
How did this happen? For years the Liberal and Labor parties have given billionaires and big corporations special treatment, to the point where now 1 in 3 of those companies pay no tax.
While the rest of the nation is making a sacrifice on a collective effort, billionaires are lining their own pockets with cash.
It's time they gave something back.
That’s why, if in the balance of power after the next election, the Greens will make billionaires and big corporations pay their fair share:
- One-off levy on the excessive profits made by Australia’s billionaires in 2020
- Introducing a new Corporate Super-Profits Tax of 40% tax on big corporations, including mining corporations
- Introducing an annual extra 6% wealth tax on billionaires
- Taxing the mega-profits of big corporations earning over $100m annually
- Crackdown on multinational tax avoidance
- Ending government handouts to the billionaires and the big corporations, like the fossil fuel industry
Greens plan: Tax the billionaires & big corporations »
If we taxed billionaires properly, every Australian could have a secure well paid job, an affordable home, we could include dental and mental health in Medicare, and make education free.