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Francis is always ready to criticise unbridled capitalism, but he makes a point of not shaming particular tax dodgers or profiteers. Targeting individuals has become a thing in the age of social media, but those who are left alone are more likely to come forward and join the public conversation. Warren Buffett, one of the world's richest persons, did this when he declared that he paid less tax than his employees, and that he and his wealthy friends have been 'coddled long enough by a billionaire-friendly Congress'.
Humans have always pursued wealth and the power it affords, but only relatively recently has the world itself become organised around the service of that wealth. The systems and structures which define the way our world works are financial, geared to the making of profit. They are global and buoyed by governments whose domestic and foreign policies ensure their support. ‘Social good’ and the ‘common good’ are assumed to be economic neoliberalism, and what’s in the ‘public interest’ is whatever advances the neoliberal economic agenda.
Netflix and the Daily Mail are not concerned about whether people in a local area get safer roads or a new cancer treatment centre. Nor, it seems, are Fairfax and Newscorp. There was a time when nearly all media outlets were independent of each other, and locally owned by proprietors who cared as much about the welfare of their regions and cities as they did their own bottom line.
In relation to the future of remote Aboriginal communities in WA, the Prime Minister said: 'It is not the job of the taxpayer to subsidise particular lifestyle choices.' The statement raises this question: on whose behalf does the government govern? The logical response is: the taxpayer. We must then ask whether it works on a sliding scale – the more tax you pay, the more the government attends to your needs.
Tony Abbott and Campbell Newman prided themselves on strong leadership. They assumed voters would think the country was in good hands if it was ruled by a strong-willed leader who gives priority to pushing through programs rather than signalling, explaining and defending them. A more effective way forward in politics could be to forget slogans and will-power and instead give priority to communication and action that is based on reason.
Martin Luther was absolutely correct and right philosophically when he nailed his Ninety-Five Theses to a chapel door in Wittenberg. The Catholic Church was rife with greed and corruption and scandal and lies and theft and devious financial plots, as it still is, and probably always has been. But I maintain that Luther was utterly wrong and incorrect in his choice of tools.
Governments are tempted to use budgetary accountability as a neat cover for corporatisation of public utilities. As public broadcasters, the ABC and SBS do not inhabit the same philosophical territory as Sky News or Channel 7. The ABC's cuts are based on an efficiency report prepared by a financial officer from the commercial media. It does not seem relevant that balanced budgets do not deliver educated audiences.
Investing capital in the production of goods and services may create jobs, but it's not the best way to make money. It's more profitable to manipulate the financial system to create more money from money, which is why the finance sector does so well. The polarisation of wealth is less extreme in Australia, but we have our own capital-driven Ponzi scheme - the residential property market, which has become an exercise in making money out of money.
There has been an avalanche of divestment, including from the Rockefellers and the ANU, as they discern a lack of concern for environmental, social and governance issues. Shareholders attending Wednesday’s Commonwealth Bank AGM will hear a resolution requesting more transparency about the bank’s fossil fuel investments. But the bank’s response can seem like a game whose rules only become clear to its participants as they play it. Banks and other powerful organisations can still exploit any lack of clarity.
The media has reported that Swedish furniture company IKEA's Australian arm has earned an estimated $1 billion in profits since 2003, almost all of which has been exported tax-free. Action to crack down on tax avoidance is on the agenda of next week's G20 in Brisbane, but it remains to be seen if the interests of developing countries will be looked after.
There has been a rush to purchase shares in Medibank Private since the Federal Government's sale offer opened last Tuesday. Past sales of government owned corporations such as Telstra have produced windfall profits for cashed up Australians able to invest. But what about the rights of the policy holders who were told they were members with ownership of equity in the company?
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