Can’t we cut poor Palmer a bit of slack, asks Stephen Mayne

Melbourne City Council meeting. Lord Mayor, Cr Robert Doyle to answer questions about credit card use. Cr Stephen Mayne. Picture: Jay Town

Clive Palmer hits the rocks. Sarah Elks, The Australian, yesterday:

Clive Palmer faces the possibility of up to five years’ jail, bankruptcy and the unravelling of his financial empire after he was found to have siphoned off more than $200 million from his cash-strapped Queensland Nickel … before its collapse.

But he was the boss. Self-appointed corporate conscience to the nation Stephen Mayne, Crikey, yesterday:

Sure, the liquidators’ report unveiled Palmer’s chaotic management style and endless related-party trans­actions, but when you own 100 per cent of a company, the money can flow pretty freely.

And where did The Australian ­Financial Review run such a significant story, by the way?

Page eight.

Exclusive. James Massola, Fairfax Media, yesterday:

Fifty prominent Australians have written an open letter to Prime Minister Malcolm Turnbull declaring “Australia doesn’t need lower taxes … and certainly not for companies”.

Yawn. It would be a yarn only if any of the signatories backed lower taxes. Here’s one, John Quiggin, on his blog just 10 days ago:

We need a higher top rate of ­income tax.

And again, on February 7:

Bring back an inheritance tax.

Here’s another, Ben Oquist from the Australia Institute, on the ABC’s Drum website on March 3:

While the public popularity of cutting income taxes is obvious, the economic arguments are thin on the ground.

And a third, Ged Kearney, in The Daily Telegraph on February 25:

The government should … seriously look at a minimum average tax rate of 35 per cent for very high ­income earners.

The signatories also might like to note yesterday’s Centre for Independent Studies media release:

The call from 50 prominent Australians opposing tax cuts, particularly for companies, is inconsistent and misguided … The letter … makes a virtue of international comparisons, CIS economist Michael Potter said. “But if these comparisons are good, the letter writers should be arguing in favour of large cuts to personal and company taxes. The revenue Australia receives from each of these taxes is greatly above the OECD average. They can’t argue that Australia must compare ­itself against other developed countries, but then ignore the implications of those comparisons.”

Steely resolve. Media release, Australian Greens, yesterday:

Greens senator for South Australia Robert Simms says Australian governments need to commit to using steel made in Australia for major ­infrastructure projects, to support the Australian steel industry and save workers’ jobs.

The Minerals Council has been left quite confused. Media release, also yesterday:

It is odd for the Greens to claim to support Australian steel for Australian infrastructure projects when they do not support the mining of Australian coal to produce that steel … We trust the Greens are aware that coal is required to produce steel. Every tonne of steel produced requires 800kg of coking coal.

That must be pretty close to a full house in ABC bingo. ABC News website, Tuesday evening:

A young indigenous transgender woman …