Companies claiming a bigger share of profits at the direct expense of workers shows the need to properly tax big corporations and the super wealthy, the Greens say.
National accounts figures released today show that the wage share of total income has fallen to just 50.6 per cent, the second lowest on record and lowest in 61 years.
The figures also show that profits share of income has hit 30.3 per cent, the highest on record.
“Despite the pandemic, corporations and billionaires continue to make out like bandits while workers, and those without jobs, get less of the spoils,” Greens Economic Justice spokesperson Senator Nick McKim said.
“Workers are getting a smaller slice of the pie, while corporations continue to get more. This is not an accident – these are deliberate policy choices by the Liberals.”
“One in three big corporations pays no tax at all, and billionaires are accumulating obscene levels of wealth.”
“We need to start making corporations and billionaires start paying their fair share of tax, so that we can pay for climate action and services that benefit everyone.”
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