maybe like the way all Norwegians are benefiting from North Sea oil, and not just the very few.

A nation that hasn't let its oil wealth go to its head.

<< Australia would become a richer country as the export of profits overseas was phased out. >>

That’s definitely something that we should be doing - phasing out foreign ownership and the siphoning off of profits.

<< Government tax revenues could increase as the tax base transferred from corporations to individuals who pay tax at a higher rate than corporations. >>

Sounds good, but why can’t we just tax corporations at a higher rate?

Oh silly me, of course it’s because governments and big businesses are peas in a pod, while ordinary citizens are little more than an annoyance that governments and opposition parties have to spin BS to in order to get re-elected!

<< The new tax regime could create a win, win, win outcome respectively for businesses, citizens and the nation >>

Sounds wonderful.

<< An ecological tax regime makes it political attractive to accelerate global prosperity without growth sooner to protect the environment. Australia could become a role model for the world in pioneering ecological capitalism to sustain both nature and society. >>

I want to know more. Dr Turnbull, could you possibly direct me to the best references? Thanks.

Hi Shann,

Sounds intriguing, as usual. And as usual I struggle a bit with its density. Just one question at this point. Does "boomerang ownership" refer to the kind of ownership you have just described, or to some variation tailored to foreign-based companies.

Well, two questions - is there a longer version of this idea?

Good on you, Shann.
You keep on going.
We need new ideas, and we will not get them from our financial rulers.