When the Greens proposed an extra super-profits tax on the excessive part of really excessive profits last week, business and the government acted as if the sky was about to fall in.
It would make Australia one of the “worst places in the world to run a business”, said the Business Council. It would “force up prices on everyday essentials”.
The idea that large profits were “unjustifiably extracted” was false, said the head of the Commonwealth Bank, and so on.
