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Greensparty wants $11B new bank tax which would hit bank customers hard #auspol

Greensparty deputy boss Dr Adam Bandt MP PhD wants to increase the cost of banking for customers with an $11 billion new tax on the big 4 banks.

There are plenty of issues around banks, their regulation, the competence of those who extend/reject credit, the extent to which the community/state ought to prop them up and so on. But pretending you can tax banks without costing bank customers money is a big fib.

Discussion

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  1. I thought the idea was that the big four banks pay for their own guarantee rather than the taxpayer. Someone has to pay and either way it won’t be the banks. Under the user pays principle, surely it should be the banks and their customers rather than every single taxpayer?

    Posted by Slim | March 8, 2013, 9:23
  2. Dream on Slim. We live in a Corporatocracy, which means socialised losses/bailouts and privatised profits. Time for Australians to take our country back from the globalist bankers/multinationals.

    Posted by Fat | March 8, 2013, 9:48
  3. Any company which gets taxpayer subsidies and contracts, like the guarantees we give the ‘too big to fail’ four banks, should be forced to stop offshoring Autralian jobs to Asia.

    Posted by Obese | March 8, 2013, 9:55
  4. Dean and Adam both no fucking good….

    Posted by Stephen/Fiona | March 8, 2013, 12:26
  5. Banks, the biggest evil in the World. Should be taxed out of existands

    Posted by Taliban fan | March 8, 2013, 14:25
  6. Gee!! It sucks I am now unemployed and unemployable and Ryan is still there enjoying the fat of office.

    Posted by Nutty | March 8, 2013, 14:45
  7. Grow a brain Fat. A banks assets are the loans it has made out, so the Greens policy of a tax of 0.20% on said assets, AKA loans just means everyone’s interest rate will simply go up by 0.20%. By the way, if the Greens’ policy was really about making the banks pay for the deposit guarantee why aren’t the Greens advocating for the money raised by this 0.20% tax to be put into a separate “insurance” fund to pay for any future possible bank collapse? Fact is they haven’t, the Greens just want this money to go into consolidated revenue to be pissed away on who knows what and if any bank does collapse in the future the government will have to go into massive debt to cover the bank guarantee. The Greens’ policy is bullshit, but that’s not surprising really…

    Posted by Harry Lime | March 9, 2013, 19:44
  8. Commonwealth to spend money needs legislation. Parliament keeps approving Commonwealth spending money it has not yet received. Serious expectation for this to change depends on convincing MPs their re-election – or loss, is not a national crisis…

    extract :
    – – – – – – – – – – – – – – –
    COMMONWEALTH OF AUSTRALIA CONSTITUTION ACT – SECT 81
    Consolidated Revenue Fund

    All revenues or moneys raised or received by the Executive Government of the Commonwealth shall form one Consolidated Revenue Fund, to be appropriated for the purposes of the Commonwealth in the manner and subject to the charges and liabilities imposed by this Constitution.

    – – – – – – – – – – – – – – –
    extract -left out last bit :

    COMMONWEALTH OF AUSTRALIA CONSTITUTION ACT – SECT 83
    Money to be appropriated by law

    No money shall be drawn from the Treasury of the Commonwealth except under appropriation made by law.
    – – – – – – – – – – – – – – –

    Posted by Paul Parker | March 9, 2013, 23:22
  9. Screw the stupid tax. Bandt is an ignoramus, which seems to be a compulsory requirement to join the Greens. All I want is to have a home loan rate the same as the Reserve Bank’s.

    Posted by sexy lady | March 17, 2013, 19:36

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