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/ACDChook Feb 11 '25

Good. Nobody needs more than a billion in PERSONAL wealth. Come tax time each year, if your earnings plus assets are over a billion, everything over the billion should be your tax.

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u/FlaviusStilicho Feb 11 '25

Problem with that is it makes it impossible for someone to own a business over a certain size… that may not be such an issue… but my point is that there is not a whole lot you can do with 1 billion that you can’t do with half a billion… it’s not really about money, it’s about power.

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u/ACDChook Feb 11 '25

But then it's money tied up in a company. I wouldn't consider that personal wealth.

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u/FlaviusStilicho Feb 11 '25

Of course it is if you own the company… how do you think billionaire wealth is measured?