Mandatory flat tax for the wealthy - Labor

This is long overdue. Whilst poverty is increasing in Australia at 14% currently of people living below the poverty line, rich use accountants that they can afford to pay fuck all in tax. This is just wrong and not the sort of society Australians want to live in. Labor at it's national conference is offering an alternative to take to the coming election.

Mr Albanese told Labor's National Conference in Melbourne that the Australian Taxation Office had found in 2011-12 that 75 Australians earning more than $1 million a year had paid no tax at all. 

He said the combined annual incomes of those millionaires was $195 million, but through elaborate accounting tricks, the super-rich 75 had been required to stump up just $82 in total. 

"That's a disgrace in a nation where Tory governments are ravaging services with spending cuts and demanding higher regressive taxation through an increase in the GST," he said.

The idea of a minimum deduction has previously been floated by South Australian Labor Premier Jay Weatherill who drew on modelling showing it could raise as much as $2.5 billion a year. Read more

$2.5 billion a year? Just shows how much Australians are being ripped off.