Greens Propose $500 Billion Tax on Big Business

Greens leader Adam Bandt is proposing a plan to ease Australia’s cost of living by increasing taxes on corporations to the tune of more than $500 billion (US$339 billion). Under the proposal, some companies could be taxed 40 percent on excess profits. Dubbed the “Robin Hood tax,” Bandt is set to unveil the plan at the National Press Club on Aug. 28. “Big corporations across the economy have squeezed hundreds of billions of dollars out of the public since the end of the pandemic—too much of it tax-free,” Bandt will say. “Enough is enough.” The Greens’ plan, is similar to previous proposals but with an updated list of targeted corporations....