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Federal Government

OUR SOL: Greedy man gobs off to government over GST

emperorsol One of Australia’s most prolific importers of Chinese made clothing and toys, Solomon Lew is now demanding the Commonwealth government reduce the Goods and Services Tax by half and a further reduction in the fuel excise.

The proposal would plunge the Commonwealth into a massive deficit, blowing a $30 billion hole in the government’s finances.

The move is designed to arrest the collapse in consumer confidence that has seen retail sales fall to low levels.

Lew’s acquisition of Just Group, the large apparel retailer, prior to the retail bust has so far cost him hundreds of millions of dollars. Even worse, the shareholders in Just Group who accepted Lew’s part scrip part cash offer have taken a hiding if they’ve held onto stock in Lew’s company.

Lew’s company Premier Investments at the start of the year, mainly supported by the cash it had in the bank, was trading at $8.66 a share. It’s now trading at $3.36, almost certainly the biggest financial wipe-out ever faced by Lew, with around $700 million of shareholders’ money shredded.

His solution?

Unleashing a gushing torrent of $30 billion worth of taxpayers’ money in his general direction so that consumers are able to spend money on the high-margin imported goods he sells. Lew argues that that cuts on retail taxes would be much better than infrastructure projects which he belittled:

“It’s very nice that they’re building a lot of swimming pools and talking about new parks.

Not every big importer agrees, with Gerry Harvey saying while he hates the GST that it’s “a very fair tax”.

Discussion

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  1. Phew!
    I better find a clean Depends, I’ve just shat myself again.

    Posted by Solly Lew | November 26, 2008, 12:22
  2. Is Lew still taking Xenical? Fancy publically admitting you take a diet drug that can make your stool “loose” to the point where you can have “seepage” and uncontrolled bowl movements.

    The manufacturer recommends you wear dark pants to hide uncontrolled “discharges”.

    Posted by Anonymous | November 26, 2008, 13:17
  3. That just his excuse for his cocaine habit.

    Posted by Candy man | November 26, 2008, 21:11
  4. How can I make sure my super dollars are not being invested with this crook.?

    Posted by Joel | November 26, 2008, 21:15
  5. ABOUT XENICAL – The primary side effects of the drug are gastrointestinal-related, and include steatorrhea—that is, oily, loose stools; because orlistat blocks some of the dietary fat from being absorbed, the fat is excreted unchanged in the feces—, fecal incontinence, frequent or urgent bowel movements, and flatulence. GlaxoSmithKline recommends that Alli users be cautious of the possible side effects until they “have a sense of any treatment effects”.

    Posted by Anonymous | November 27, 2008, 22:17
  6. i’d love to suck on johnnyCowards redundant balls. man, he rammed up the arse and booted out last nov. so sad for him and his right whingers. pssst-dont talk about julie bishop, her twat needs a checkup, it was copied onto Bolts face

    Posted by angela bishop | November 29, 2008, 14:47

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