It is with an increasingly heavy heart that I open up the morning papers and see what is happening here in Australia. It seems our comrade cousin Hugo Chavez in Venezuela remains one step ahead of PM K. Rudd and Treasury secretary K.Henry. Reports this morning show the Chavez regime now control 20-30% of food supply and is threatening to take control of the countrys largest remaining private food processor in his economic war against the "parasistic bourgeoisie" ( seems he also is fighting for 'working families'). http://www.cnbc.com/id/37786852/ Meanwhile Henry has been busy urging the expansion of the super profits tax to apply to ALL companies ..."this 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." In other words the proposal would allow companies to 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 http://www.theaustralian.com.au/news/nation/henry-urges-wider-profits-tax/story-e6frg6nf-1225882484014
What is happening to our country. Where is the reward for working hard and becoming successful, only to be slugged with a massive tax on any earnings above the govt bond rate. Is this the Australia our diggers fought and died for? Very sad.
