Originally posted by madamswer
"Nope, madamswer you are getting it wrong not looking at the Gini co-efficient after taxes and transfers. Prior to taxes and transfers it is essentially meaningless."
That is only accurate if Australia's taxation legislation has weakened over time; as has taxation compliance.
I'm no tax expert but I very much doubt that to be the case, judging by the long-standing robustness of debate around taxation in Australia, and the competence of our ATO.
As for tax cuts for higher income earners, I wasn't aware of those (unless you classify the cessation of the Temporary Budget Repair Levy as a tax "cut"... I daresay most reasonable people wouldn't).
Because, according to the ATO website, high-income earners (>$180,000 pa) have been taxed as follows over the past several fiscal years (excl. Medicare Levy in each case):
2010/11: $54,550 plus 45% for each $1 over $180,000
2011/12: $54,550 plus 45% for each $1 over $180,000
2012/13: $54,547 plus 45% for each $1 over $180,000
2013/14: $54,547 plus 45% for each $1 over $180,000
2014/15: $54,547 plus 45% for each $1 over $180,000 (plus 2% Temporary Budget Repair Levy)
2015/16: $54,547 plus 45% for each $1 over $180,000 (plus 2% Temporary Budget Repair Levy)
2016/17: $54,232 plus 45% for each $1 over $180,000 (plus 2% Temporary Budget Repair Levy)
2017/18: $54,232 plus 45% for each $1 over $180,000
2018/19: $54,097 plus 45% for each $1 over $180,000
Someone on $180,000 over that 8-year period would have seen their net income go from $125,450 to $125,900, which equates to a nominal rate of increase of 0.05% pa, or a real rate of increase of around
minus 2.8%pa.
As for tax cuts for smaller businesses, I think you'll find small business owners don't fall into the category of the nation's most wealthy citizens. Far from it; most small businesses are family-run, and they do it tough most of the time, so I don't know why you would begrudge them some relief.
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"That is only accurate if Australia's taxation legislation has weakened over time; as has taxation compliance."
That is just such an obviously incorrect statement. Taxes AND transfers. You ignore so much of the equation for convenience? not understanding?
"As for tax cuts for smaller businesses, I think you'll find small business owners don't fall into the category of the nation's most wealthy citizens."
The Gini co-efficient equates the top 15% to the bottom 15%. Tax cuts for small business would, not unexpectedly, have a greater impact upon the income of the top 15% than the bottom 15% who are more likely to be on benefits, pension, etc.
"Far from it; most small businesses are family-run, and they do it tough most of the time, so I don't know why you would begrudge them some relief."
You have included an emotional appeal and some mindreading determining that I "begrudge" support for small business. Quite the opposite. If you had a valid argument you would give not resort to nonsense.
