The launch of the Coalition’s tax policy (which is mainly about taxes they oppose, and two further reviews of the Henry Review) was “overshadowed” by Mark Latham yesterday, and by “Treasury leaks” today, with the only bit that really made it through the noise filter being the idea of giving people a receipt when they file their tax return, showing where the money’s been spent. It’s probably intended as a stunt, but if implemented, might have some interesting and unintended effects.
On the substance, such as it is, Peter Martin has it covered.
Apologies if self-promotion is considered poor form, but I have also posted about the Henry review’s proposed structure for personal income tax: http://mattcowgill.wordpress.com/2010/08/05/the-henry-review-an-economists-manifesto/
Check out Grog on why we don’t need a receipt and what you can get for free already on the internet.
Well said Mindy, Grogs Gamut is worth a daily read.
I wish that people would get it into their head that a higher tax to high incomes ie 66.6% on about $450,000 would fix most of the trouble that has been caused by the lowering that tax since 1970 has done, unfortunately, the mad rush to export those non-restorable, non-value-added coal and iron ore and other mined non restorables and getting the payment for them with the goods – clothing, tools, and those other goods we used to manufacture here, does not make any sense, it destroyes our manufacturing and our industries, and has taken away the employment from our workers.