Glimpsing the headlines of various news papers in the 1930’s in America, one headline stood out… 20 billion dollars was spent in American beauty parlors in twelve months but only two of these beauty parlors payed taxes.
Shortly thereafter the economy collapsed and the great depression started. It sounds very similar to todays scenario with large Australian companies and multi nationals not paying taxes. Could this trigger off a similar depression in this country?
On top of this wages are flat and shares are falling and we have a government advocating more taxes (15 % GST) plus other indirect taxes like council rates, water rates, electricity and gas, plus not passing on the lower cost of fuels to the public. Things are starting to look grim for lower payed workers and the pensioners.