Industry bodies respond to Hockey's tax debate

Joe Hockey is going on about ways to increase tax revenue, but in one foul swoop the John Towbridge report has just handed a massive windfall to the high revenue, low profit, low income, and low tax paying corporates(banks & industry funds).

The government will now lose billions in revenue from the small business that will be wiped out by this slash and burn exercise run by the banks and industry funds against their competitors. Again Joe Hockey fails to protect small business owners, and inadvertently has damaged the countries future tax take in the process.

CBA, NAB, Suncorp, and Industry fund bosses are frothing at the mouth and rubbing their hands together with this latest report from John Trowbridge. It's one of the biggest windfalls these corporates have received in years. With all these companies ramping up 'direct insurance business models' and 'offshore call centres' it must feel like Christmas has come early for them.

It seems that the government won't be happy until we are all working as highly educated 'call centre workers' or as 'check-out operators'. What fools our government representatives are.

They are all pandering to the wrong people. The Corporates don't pay tax or create more jobs. They decrease jobs (offshoring, automation), and minimise their tax. It seems the federal government sees Utopia as a McDonalds & Subway on every street corner, and endless suburbs built around our new churches(i.e. Westfields, Woolies & Coles). What a boring country we have become. We are almost a cardboard cut-out now of the U.S. heading for the same problems they have.

As for the ACCC, who are these people? I think we need a new 'Anti-competition' watchdog. One that actually isn't in the pockets of the corporates and is actually awake.

Joe Hockey show small business that you aren't corrupted by these 'corporates'. Stand up for the small business owner.

Have you forgotten where you came from?