mistyrains Tax the rich more and tax inheritance you say. I must apologise to the thread. I stated above $80k is taxed at 42%. Above 80 is 17550 plus 37c UP to 180,000. 180,001 and to infinity and beyond is, 54,550 plus 45c. Let's pick a 'decent' income, $1m. You pay just over 42.3% average handing over similar, $423,000. Makes you want to jump out of bed misty LOL I think 30% flat across the board. The problem is that their are too many legal loop holes that are basically, tax avoidance. So you don't need to gouge the 'rich', you need to collect tax more efficiently. Another loop hole is no CGT pre 1986 purchased investments. Hope you don't hold any of these misty! Taxing inheritance. No need to. See above argument. I intend my home to help my children secure their future. If you honestly agree to tax inheritance misty, you have no kids or they are self sufficient. To deny them your asset is beyond me. You worked for your home and you're willing to have it taxed? Still, suppose some agree on GST on funerals. Problem with this country is simple. The rich don't pay their fair share and the bludgers get more than their fair share. Still, I kicked off your fire. Why we are at it why don't we tax self funded retirees, aren't they rich? Most got there through generous tax avoidance(legal of course).
