Wealthy Australians are worried we might realise how rigged the system is in their favour
The discussions around the absurdly small changes to tax on superannuation should be the start to addressing the growing wealth inequality in this country
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Australians have money?
About 200 Australians have money.
Almost a quarter of it.
Yeah, that sounds about right. I thought y'all used water or bottle caps, kinda like Fallout. Seriously though, sounds like it's a simple enough problem.
Tax property. Probably rather difficult to do though.
After a threshold. You don't want to tax some poor pensioner who has lived in the same 2-bedroom cottage in Carlton for 60 years, simply because that location is now worth $2Million.
And now it's complicated. How do you find that threshold?
If it's per-person, you'll find rich people divvying up their portfolios to family members to distribute this tax benefit.
If you grandfather it in so it only affects future property purchases, you disincentivise retirees from downsizing to a smaller place, freeing up some 4-bedroom house.
Taxation policies are hard.
Yeah, normally I'm more precise with my language. Personally, I'm an American, and property taxes are just a thing for everyone. Definitely not the best, but it sounds like Australia doesn't have that for some reason?
200 public executions should fix the problem.