The rich won't be" a little poorer" because the rich will:
a. not be here or
b. no longer be rich
But you carry on with your dreams of a Labor utopia where a minority of income tax payers and the miners (who won't be mining much when China stops buying) pay for everything to be free and life is nice and cosy for a majority.
Why would capital stay here? Why would ideas stay here? Because people love " a game of footy" or a "sausage sizzle". Please, Australia isn't that special.
How many top rate tax payers do we have? How many will we have in 10 years? The middle east, Singapore, NZ and a selection of tax havens could absorb a significant number of these people. Doesn't mean they can't come and go in Australia, it just means they pay less or no tax elsewhere.
You may be a high taxpayer yourself and be in a situation to argue my point but as a dual national with 2 degrees, several post graduate qualifications, earning in the mid 6 figures, I can tell you I won't be staying here to be hammered by Bill's version of Swanonomics. I won't be alone.
