2w ago

Australians could keep more of their wages if we rebalanced taxes on other forms of income

Australians could keep more of their wages if we rebalanced taxes on other forms of income | Allegra Spender

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Australians could keep a metric shit ton of their wages, if we just taxed the mining sector, and fired our corrupt politicians.
We would have free education / universities, free health care, free dental and more.
Do not tax income
Tax wealth (progressively)
Take royalties for mining
Remove the capital gains discount
An income tax is an attack on workers
- That incentivises people to spend everything they earn.
  
  No. These policies don't.
  Which policy and why?
I don't really get how this would improve anything. We already dual income system. Most capital gains likely get a 50% discount. Invest under a company for likely a flat 25%.
Cynically we know what is going to come of this summit, Corporate tax rate will be lowered to 25%.
Do not tax income
Tax wealth
Take royalties for mining
Remove the capital gains discount
An income tax is an attack on workers
This is unfair for people who have already saved/invested. They paid the higher income tax rates initially and they would pay higher tax rates on their retirement nest eggs.
This government can't even sell the idea that we should talk to indigenous people about indigenous issues. So I have little faith they'll get through significant tax changes.
- You got yours, screw the rest?

8 comments