PRRT Changes Don't Go Far Enough - Greg Jericho

PRRT Changes Don't Go Far Enough - Greg Jericho | Senate Economics Committee

Рет қаралды 1,635

Ай бұрын

"Rather than adequately tax economic rents derive from the petroleum and the oil and gas industry, the PRRT has actually become a gas company accountant's paradise."
Chief Economist Greg Jericho speaking at the Senate Economics Committee
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Пікірлер: 13

@enoughsaid-ch2tp Ай бұрын

Thanks Greg for representing Australians on this critical issue that allows gas companies to export gas without paying tax. The current system is a rort that appears to be supported by Labor and liberal government. This appears to be another case where political parties are captured by the gas industry and do not represent the interests of the Australian community.

@johndoe-qo8cy Ай бұрын

Watched a few of your vids and am quite happy that you are non partisan and putting Australia first. Well thats the impression ive gotten so far.

@jinnantonix4570 Ай бұрын

NIck McKim "rendering the Earth uninhabitable". Really?

@MrPsychochickens Ай бұрын

Definitely a long shot but the knock on consequences of rising sea levels are nothing to joke about. Destabilizing regions and WMD armed countries is a real possibility.

@ninefablesfox4872 Ай бұрын

You should check out David Wallace-Wells, The Uninhabitable Earth and Tim Flannery, The Weather Makers. Both accessible books for the general public.

@jinnantonix4570 Ай бұрын

@@ninefablesfox4872 I have read both, and they are complete rubbish.

@tonywilson4713 28 күн бұрын

@@ninefablesfox4872 Don't waste your time with these sorts of people. They are TOO STUPlD to reason with. Back in the 80s Exxon hired the best engineers, scientists and computer modelling people they could get their hands on to get them the best information they could. The computer model they developed is still to this day the most accurate model anyone has yet developed and it says NOT only are humans driving the climate but we are headed towards a very bad place. The whole exercise was almost identical to what the tobacco industry had done. The best research on tobacco was always done internally by scientists hired by the tobacco companies. All of that was hidden for decades behind a wall of lawyers. Exxon did much the same and were able to keep what they knew quiet for a very long time. In the meantime they hired or funded people like the Heritage Foundation, an American Think Tank that was Phillip Morris's main PR channel in supressing the Tobacco debate for decades. They also hired may scientists who had argued that tobacco didn't cause cancer. Now we all know who happened with tobacco and that eventually there was no denying it. You'd think that after tobacco when companies use the same techniques, same Think Tanks and same arguments and use the same people to do the PR you'd think people would KNOW THEY ARE LIARS. But if you tell people what they want to hear they will believe it EVERY TIME.

@jinnantonix4570 Ай бұрын

Why does Greg Jericho keep talking about revenue? The PRRT is a profit tax. Surely he knows that. Any such tax will always encourage investment, to divest profits, which is a good thing for income tax revenue now, and future revenue from business profits.

@ninefablesfox4872 Ай бұрын

Remember taxes don’t fund government spending - the government prints it’s own money at the reserve bank if it needs to spend more in the economy. Taxes are designed to decrease the supply of money in the economy to combat inflation and discourage an activity. The idea of taxing profits is to slow these activities now. We do not tax these companies nearly enough if we wanted to create some kind of “fund” to pay for things like health, education, housing.

@jinnantonix4570 Ай бұрын

@@ninefablesfox4872 what nonsense. Taxes are collected (income tax from people, company and super taxes from business, GST from general consumption) to pay for health, education, housing. When the government runs out of public money, they print money. It's not free. We pay the price for the printing of money later through devaluation of currency (inflation).