Cue or queue the people claiming that inheritance should remain tax free despite the person receiving it having done zero to earn it.
Or that the CGT discount of 50% for inexplicable reasons (which 50% for keeping something for 1 year is hardly worthy of a 50% tax deduction.. nor was the reasoning that capital be somehow insulated from inflation when wages are not).
Meanwhile income from actual work remains taxed.
The free ride we give the wealthy needs to end. Reward work rather than hoarders of unearned riches they largely got from being born to wealthy parents.
Nyarlathotep-1 on
How does taxing the dead address inequality? We are truly bereft of ideas when the answer to every problem is tax.
Fairbsy on
Inheritence taxes are a real hard pill to sell – especially for asset rich cash poor farmers. Even if you legislate carefully, you still need to communicate it and so many voters are vehemently against it.
There are more effective suggestions in the article itself, remove tax loopholes and tax mineral giants.
locri on
The most unequal thing I’ve witnessed in my life has been older, senior people walk into jobs despite low skills, do between a third to half the amount of work as a younger mid level and then walk out with three times the wage.
Australia’s problem is productivity, not tax, notably how our corporate culture treats skilled workers.
4 Comments
Cue or queue the people claiming that inheritance should remain tax free despite the person receiving it having done zero to earn it.
Or that the CGT discount of 50% for inexplicable reasons (which 50% for keeping something for 1 year is hardly worthy of a 50% tax deduction.. nor was the reasoning that capital be somehow insulated from inflation when wages are not).
Meanwhile income from actual work remains taxed.
The free ride we give the wealthy needs to end. Reward work rather than hoarders of unearned riches they largely got from being born to wealthy parents.
How does taxing the dead address inequality? We are truly bereft of ideas when the answer to every problem is tax.
Inheritence taxes are a real hard pill to sell – especially for asset rich cash poor farmers. Even if you legislate carefully, you still need to communicate it and so many voters are vehemently against it.
There are more effective suggestions in the article itself, remove tax loopholes and tax mineral giants.
The most unequal thing I’ve witnessed in my life has been older, senior people walk into jobs despite low skills, do between a third to half the amount of work as a younger mid level and then walk out with three times the wage.
Australia’s problem is productivity, not tax, notably how our corporate culture treats skilled workers.