Maybe just maybe, one day you will say thank you to all the households paying well over $100k in taxes a year.
What do you think, they don’t work for their money? They didn’t study or took risks, they just happen to be lucky in your mind and deserve to pay an ever growing share of the income tax.
Everyone gets a cut! And the bloke or woman on $200k will still pay overwhelmingly more than the one on $50k.
Taxing work close to 50% makes no sense! Even Paul Keeting repeatedly called for a maximum tax bracket of 40%.
You want to close a whole bunch of tax loopholes be my guest, by all means it needs to be done. But taxing income from work at 47% is highway robbery. Why the hell would i take on more responsibility, more risks, and deal with more headaches for an extra $30k a year when I get to keep barely half of it and give the other half to people who believe I am an undeserving millionaire....but would still be happy to get their little government chèque my taxes paid for.
