Quote:
Originally Posted by Wavytone
Not really. It only goes into the pockets of the shareholders - mostly foreign companies. Assuming a net operating profit of maybe 10%, company tax at 30% means Australia nets a measly 3%. That is all.
The notion that we benefit by flogging the natural wealth of this country is a fallacy, frankly.
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Nick, your post is very misleading. It ignores the 90% cost of production that stays in Australia. I agree that if a foreign company makes 10% profit, then you might be right to say Australia makes a measly 3%. But the risk taker has only made 7%.
A little bit of something is always better than all of nothing.