[Greens-Media] Media Release - Bob Brown - Greens propose tax on super-wealthy to protect essential services

[Kelly, Russell (Sen B. Brown)]

19 August 2009


Greens propose tax on super-wealthy to protect essential services

Greens lead in "tax debate we had to have"

The Australian Greens have proposed a higher tax rate for those earning
over $1 million per year as a way of protecting public funding in
schools and hospitals as Australia recovers from the global financial
crisis.

Greens Leader Senator Bob Brown has written to Prime Minister Rudd
proposing an increase in the top marginal tax rate from 45% to 50% for
people who earn over $1 million. This initiative would raise an
estimated $450 million per year but affect less than 1% of all
Australian taxpayers.

"The Rudd Government has used stimulus packages to keep the economy out
of recession, and it is economically prudent to consider the role of
higher taxes to reduce Australia's projected hundreds-of-billions of
dollars of debt."

"Rather than cut funding to essential services like schools and
hospitals, or place a higher burden on low-income earners - the Federal
Government should introduce this modest tax gathering exercise on those
earning more than $1 million a year."

"With the Henry Taxation Review coming, dealing with the deficit will
inevitably lead to a debate about increasing taxes and the best mix of
taxes."

Senator Brown said the proposal had been fully costed, and was
originally proposed by the Australia Institute.


For more information Russell Kelly 0438376082 ends