Economy and Taxation

Albanese rushed to support the Coalition’s plan to give billions in more tax-cuts-and-subsidies for its business mates — to be funded by a historic increase in public debt to nearly $1 trillion.

The fall in the number of new confirmed COVID-19 cases over the last few days has been received by most people with cautious relief. The official advice of federal and state governments remains to maintain the social distancing and to stay at home.

But the capitalist class is looking at things very differently. It is growing impatient for capitalist exploitation to return to “normal” and they are preparing us to accept the cost in lives.

The wages share of national income has fallen to below 50% for the first time since 1959

There is a big lie at the heart of Frydenberg’s budget speech. The rich don’t need more public largesse; if they wanted to create more jobs they already have more than enough money to do this.

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