carbon tax 50% off top 500 profits

The June value of the all ordinaries is $1.3 trillion. Normally income generating companies make 5% profit.

If we assume 5% of the total asx value is profit the best case for the total profits generated over the asx is around $65 billion. The carbon tax is going to take around 38 billion out of the top 500 companies or 58% of their profits.

Gillard will said the carbon tax only increases prices by around .07% of GDP, quite deceptive isn't it.