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John Passant

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Keep socialist blog En Passant going - donate now
If you want to keep a blog that makes the arguments every day against the ravages of capitalism going and keeps alive the flame of democracy and community, make a donation to help cover my costs. And of course keep reading the blog. To donate click here. Keep socialist blog En Passant going. More... (4)

Sprouting sh*t for almost nothing
You can prove my 2 ex-comrades wrong by donating to my blog En Passant at BSB: 062914 Account: 1067 5257, the Commonwealth Bank in Tuggeranong, ACT. More... (12)

My interview Razor Sharp 18 February
Me interviewed by Sharon Firebrace on Razor Sharp on Tuesday 18 February. http://sharonfirebrace.files.wordpress.com/2014/02/18-2-14-john-passant-aust-national-university-g20-meeting-age-of-enttilement-engineers-attack-of-austerity-hardship-on-civilians.mp3 (0)

My interview Razor Sharp 11 February 2014
Me interviewed by Sharon Firebrace on Razor Sharp this morning. The Royal Commission, car industry and age of entitlement get a lot of the coverage. http://sharonfirebrace.com/2014/02/11/john-passant-aust-national-university-canberra-2/ (0)

Razor Sharp 4 February 2014
Me on 4 February 2014 on Razor Sharp with Sharon Firebrace. http://sharonfirebrace.files.wordpress.com/2014/02/4-2-14-john-passant-aust-national-university-canberra-end-of-the-age-of-entitlement-for-the-needy-but-pandering-to-the-lusts-of-the-greedy.mp3 (0)

Time for a House Un-Australian Activities Committee?
Tony Abbott thinks the Australian Broadcasting Corporation is Un-Australian. I am looking forward to his government setting up the House Un-Australian Activities Committee. (1)

Make Gina Rinehart work for her dole
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Sick kids and paying upfront

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Save Medicare

Demonstrate in defence of Medicare at Sydney Town Hall 1 pm Saturday 4 January (0)

Me on Razor Sharp this morning
Me interviewed by Sharon Firebrace this morning for Razor Sharp. It happens every Tuesday. http://sharonfirebrace.com/2013/12/03/john-passant-australian-national-university-8/ (0)

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Archive for 'Super profits'

The Big Four Australian banks, super profits and a Royal Commission

My latest in Independent Australia. The super profits of the Big Four banks continue to impact on the rest of the economy and Malcolm Turnbull’s solution of ordering them to appear before the Economics Committee is not likely to make them give up those profits.

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Tax: some recent unpublished Financial Review letters

I have written recently to the Australian Financial Review – a newspaper in the process of joining the fruitcake faction of capital and becoming a more educated version of The Australian – on mining companies and tax and superannuation. In the interests of free speech for more than just billionaires and their sycophants I reproduce below my to date unpublished letters.

The Minerals Resource Rent Tax and other lies

The money is there. So why not start all over again? I have a suggestion. How about a 40% super profits tax applying to all resources? Oh…The ghost of Kevin Rudd ensures that won’t happen.

And while we are at it, why not a super profits tax on all super profits, not just those in the resource sector. The Big 4 banks come to mind.

Australia’s big 4 banks are the biggest bastards in the world

The Labor Government beat the banks with a wet lettuce for failing to pass on the full RBA rates cuts.

Instead why not tax their super profits and redistribute some their profit to the working class in the form of better social services like health and education, increases in Newstart and tax cuts for workers?

And, given you can’t trust the banks, something their actions have shown, how about regulating their interest rates and other offerings? Price controls over interest rates looks like a good start.

How about a super profits tax on the banks then?

So here we have the most profitable banks in the world, the big 4 Australian banks with $31 billion in profits, not prepared to pass on a 0.25% overnight cash rate reduction to their customers on their home and business loans.

Soak the bastards, Treasurer. Hit them with a super profits tax, or threaten to do that.

And when they claim that that would impact on their costs of lending and would need to be recouped, threaten them with interest rate controls and mention you might set up a people’s bank. Oh, I forgot, we used to have one of them until the previous Labor Government flogged it off.

Maybe we should nationalise the banks under workers’ control instead.

The flood levy isn’t progressive

It is the polluters who should pay for rebuilding the homes of workers destroyed in the floods. It is big business whose profits should be taxed, not workers.

How about a super profits tax instead Gillard?

Julia Gillard – the Prime Minister for mining magnates

The historic role of Labor as the party that rules for capital over sectional business interests is at an end.