sovereign fund

No doubt many would have watched ABC last night.
Sovereign Fund, what a load of nonsense, fantastic idea although, but not under labour no way.
We saw clearly how under the GFC where all those handouts went, definatetly not in my pocket. So how can they say all australians will benefit from this sovereign fund.
I know why dont they tax a little bit more all companies in australia that earn over $500mill. Not just the resource sector, target our banks who over charge us.
This would be fairer a tax system and the govt would be satisfied not just targeting one area.
Wouldnt this be a fairer system or is this too simple and too logical.