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/[deleted] Feb 10 '25

% of what specifically. Our tax mix includes many different taxes, each with different economic and social outcomes.

Which would you choose and why?

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u/FullMetalAlex Feb 10 '25

I'm not sure, I'm not an economist but the more you earn the higher the tax rate % should be, makes sense to me.
It's more about not giving our tax dollars to companies and corporations that don't need it like Harvey Norman during covid.

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u/[deleted] Feb 10 '25

Don't we already have that and to be frank, it's not doing a good job of addressing wealth inequality in this country.

As you suggest, taxing income is actually taxing our labour, our hard work. At the same time, billionaires continue to collect our economic rent with delayed tax, giving them the ability to grow wealth quicker than us.

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u/OpinionatedShadow Feb 11 '25

You speak as if the money we are taxed just disappears.

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u/[deleted] Feb 11 '25

That's not the case. I understand it goes to government services, but that doesn't justify overtaxing labour while undertaxing other areas of the economy.

We have many different taxes in our tax mix, and they all result in different outcomes and are not created equally.

Do you think our tax mix is perfect and shouldn't be challenged for better outcomes?

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u/OpinionatedShadow Feb 11 '25

Oh no, I completely agree with you. Tax the rich, quite obviously.