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We had no capital gains tax in the 1950's and as wealthy people...

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Scipio_Africanus

910 Posts.

07/02/19

16:45

Post #: 37366424
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Originally posted by sparassid: ↑

Good that you added marginal, i.e. it's only on the top portion of a few Australian's income - most people never get to that point so it actually has bugger all effect on incentive.

P.S. We used to have a top marginal tax rate of 75% in the '50s... that golden time conservatives want to take us back to... I wonder if we had an "incentive" problem then?

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We had no capital gains tax in the 1950's and as wealthy people make their money from long term investments effectively they paid no tax in the 1950's.
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