JLN Independent
Tasmanian Senator Jacqui Lambie has delivered a speech in the Senate yesterday
which details $94B of new tax revenue raised by 3 simple new taxes.
Mr President, there’s 3 simple taxes Death, Capital Gains and Financial
Transactions that don’t take from Australia’s poorest – make the rich pay a
fair share, and will raise an extra $9.4 B a year or $94B in ten years. Slow
and steady wins the race!” said Senator Lambie.
“My network, the JLN, has proposed 3 simple tax reform policies –
(costed by the Australia Institute) – that don’t take from Australia’s poorest,
and ensures that our top earners contribute their fair share.
In ten years these 3 taxes would raise an extra $94B for Budget repair.
They are:
1. A Super-Rich Death Tax, which would raise $5 Billion a
year and would only affect 0.8% of the Australian population.
2. Capping the Capital Gains Tax exemption to houses
worth less than $2 million would raise $3 billion a year. 56% of the
revenue raised by capping Capital Gains Tax on homes would come from Australia’s
top 10% earners.
3. An FTT between 0.1% and 0.01% on each of the
high-frequency share trades by Australian companies which rort our financial
markets using supercomputers – will raise more than $1.4 Billion a year.
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