Foxys link is telling, my intention n starting this was to highlight such a that
Too to say current form of capitalism is making the extremely rich richer and the poor poorer
Is an economy forever stuck in its current grove? or can it develop into something far fairer for all.

AC

"Have a rethink and get back to me; or don't."

Oh, I'm sorry. I didn't realise that when you said "earn $100 after tax and I give that money to you" you really meant "If I earn 1 million dollars ". You just left off a few zeros. Could've happened to anyone. How did I not realise that.

BTW even with your attempted face-saving additional zeros, you're wrong. A large gift is only taxable if the donor derives some sort of benefit from it eg granny gives the kids a large gift on the basis that they look after her in her remaining years. Otherwise not taxable.

"All companies need profit to exist, and I was talking about multinationals like Google or Mcdonalds."

Well they need profit eventually. But we are talking about taxable profit which isn't quite the same thing. And Google and Maccas make a profit and pay taxes here.

"If they don't make profit then why do they have a share price?"
Plenty of companies who aren't profitable have shares eg Tesla, Facebook, Twitter. Indeed all companies have shares. Just how little do you know?

"Why do investors invest in them if there's no profit and hence no return?"
Because they think they'll eventually make a profit.

Again AC....5% of what?

Belly

"current form of capitalism is making the extremely rich richer and the poor poorer"

Half right. The rich are getting richer. And the poor are getting richer too. eg the people on the poverty line today are 40% richer than the people on the poverty line in 1970 in real terms.

m haze debatable, but is it true a tax system like the one I put forward, and the one both links point to, will bring huge increase in money available to be spent
In all truth it would lead to inflation too, unless other things changed
Have the true poor , say those sleeping on the streets, got it better than 1970, well there are more of them
New capitalism will come, nothing stays still forever
It can be better or even worse but change will come
Maybe post the coming GFC

wonder if any of Trump's companies are registered in tax havens.
Loudmouth,
No good complaining about Trump when our own are just as exploitive ! The average public servant costs us way more than what they give us in return !

indy on this matter tax, we seem closer, but mate remember or maybe you do not Australians Clive Packer telling an inquiry into his tax the following words
Yes I pay as little tax a I can, it would be madness not to
Yes Trump Avoids tax,yes he will not let us see his tax records
Take THE politics OUT OF THIS SUBJECT
It was and always will be about a proposed new capitalism, a better fairer way of taxing
If we defend those we like in this debate we may as well not have it
We have a system in trouble, it may get worse,threat to world trade free trade and the coming GFC
This proposal is that something better can be achieved

Yes I pay as little tax a I can, it would be madness not to
Belly,
Do you also take as little of the available benefits as you can ?
We need a level playing field for tax. Flat Tax ! Earn a Dollar, pay 10 cents tax. People mentioned Consumption Tax here before. That'd be a good start ! Negative gearing has to stop, it's too costly !