Greens Treasury spokesperson, Senator Nick McKim, has responded to the release today by the ABS of the September National Accounts.<\/p>\n\n\n\n
\u201c2022 has been a great year for the robber barons.<\/p>\n\n\n\n
\u201cThe top 3 quarters on record for profits\u2019 share of national income have all been in 2022.<\/p>\n\n\n\n
\u201cThe June quarter was the highest on record, September the second, and March the third (seasonally adjusted).<\/p>\n\n\n\n
\u201cIn the middle of a cost-of-living crisis, corporate Australia has made off like bandits.<\/p>\n\n\n\n
\u201cCorporate profiteering has been a domestic driver of inflation, not the imaginary wage pressures that the RBA speaks of.<\/p>\n\n\n\n
\u201cIn fact, 2022 may well end up being the worst year on record for workers.<\/p>\n\n\n\n
\u201cWages share of national income was the 5th lowest on record in March, the lowest on record in June, and the 8th lowest in September.<\/p>\n\n\n\n
\u201cIf Jim Chalmers thinks today\u2019s national accounts are a solid performance then he needs a wake up call.<\/p>\n\n\n\n
\u201cOur economic system is broken.<\/p>\n\n\n\n
\u201cThe government needs to acknowledge this and start taking some serious steps to address spiralling inequality.<\/p>\n\n\n\n
\u201cWe need tax reform that hits speculators and the wealthy.<\/p>\n\n\n\n
\u201cWe need to tax corporate super profits to rein in profiteering and help slow inflation.<\/p>\n\n\n\n
\u201cWe need to abandon the Stage 3 tax cuts for the ultra wealthy.<\/p>\n\n\n\n
\u201cWe need to get rid of negative gearing and the capital gains tax discount to stop housing costs yo-yoing up and down in response to interest rates.<\/p>\n\n\n\n
\u201cThen we can fund genuine cost-of-living relief for those who need it.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Greens Treasury spokesperson, Senator Nick McKim, has responded to the release today by the ABS of the September National Accounts. \u201c2022 has been a great year for the robber barons. \u201cThe top 3 quarters on record for profits\u2019 share of national income have all been in 2022. \u201cThe June quarter was the highest on record, … Continue reading “2022 ON TRACK TO BE THE BIGGEST FOR COMPANY PROFITS”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-19482","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/19482","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=19482"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/19482\/revisions"}],"predecessor-version":[{"id":19483,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/19482\/revisions\/19483"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=19482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=19482"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=19482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}