"There are two major issues here," Carter told Fairfax Media.
"One is the equalisation method itself and two is the fact that Geelong is being screwed.”
Carter said the club will attempt to alter its position in the new tax structure as it faces a $300,000 tax.
According to Carter, the AFL’s equalisation policy has been wrongly sold and designed and poorer clubs such a St Kilda and the Western Bulldogs ought to have been compensated based upon the inequalities of the fixture and widely varying stadium agreements.
Carter believes that protests from Collingwood president Eddie McGuire and Hawthorn president Andrew Newbold saw the AFL back down from its original revenue tax equation and opt for a deal which weakens the position of middle clubs (Geelong, Essendon, Adelaide, Fremantle, Carlton and Richmond) against the wealthy.
The Geelong Cats made a $1.2 million profit last season compared with Collingwood’s $5.2 million. After a push from the Magpies their revenue tax was capped at $500,000 compared with the Cats’ $300,000.
"The taxation has been hopelessly compromised because Eddie refused to pay it," Carter said. "I don't mind the tax on footy departments but this notion of a cap of half-a-million dollars on the rich clubs is a joke.
"The philosophy is wrong. What we are doing is just screwing the middle class while the rich are able to get their affairs in order which is what happens in real life.
"To take $300,000 from us and $500,000 from Collingwood actually weakens our position against Collingwood. And for the AFL to come out at the end and say they won't be taking money for equalisation from club revenues ... what an admission of defeat.
"Our club supported the genuine attempt to bridge the growing divide between the clubs but now it seems that the ones that shouted the loudest have been rewarded."
Carter revealed a letter has been drafted to AFL Chief Executive Gillon McLachlan and AFL Chairman Mike Fitzpatrick which outlines the club’s disappointment in disproportionate taxation measures.
Click here to read the Cats submission to the AFL on equalisation
