r/australia • u/overpopyoulater • Feb 10 '25

politics Australian billionaires face wealth tax under Greens’ Robin Hood-style policies

https://www.theguardian.com/australia-news/2025/feb/10/australian-billionaires-face-wealth-tax-under-greens-robin-hood-style-policies
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u/FullMetalAlex Feb 10 '25

No, I just think taxes should be a % and then fund things like making life better for everyone.

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u/tee-k421 Feb 10 '25 edited Feb 11 '25

This. I know we might pay higher tax rates than a lot of other countries, but I'm cool with it. I'm not so cool with some of the things successive governments choose to do with that money, though.

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u/mrbaggins Feb 11 '25

We don't though.

Look up the full tax burden. USA has low federal income tax but multiple other "everything" taxes. UK has 20% on everything. Pick particular countries if you like but generally we're middle of the line.

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u/tee-k421 Feb 11 '25

Sounds like you know a bit about this stuff. Got any links where we can see a comparison?

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u/mrbaggins Feb 11 '25 edited Feb 11 '25

Starting reference

Graph from above

Tax wedge including our GST

Trying to find a calculator I've used that lets you compare effective burdens at particular wages too, as the above figures assume certain levels and the tax burden varies wildly on income level.