All Posts Tagged With: "tax"

The other big tax con game is the assertion that carbon needs a price. We have yet to see a compelling argument about why this is so. The only argument we have seen is that carbon dioxide emissions from man-made activities are causing the Earth’s temperatures to rise. Thus, carbon needs a price so businesses can be discouraged from carbon dioxide emissions…

Mr. Orszag can’t seem to put a simple sentence together. But he can count. According to the last census results, there were 1.7 million households in America with incomes of $250,000 or more. Even if you took an additional $250,000 in tax from each one of them, raising the effective rate on many of them to nearly 150% of income, it you would still have a trillion-dollar deficit.

The world is complicated enough. Europe’s sovereign debt crisis will eventually migrate its way to America and the super cycle in fiat money will end in either a debt deflation or massive inflation or both. Real wealth will be destroyed. Meanwhile, China faces a property and credit bubble of its own.

Let’s leave off with the underlying economic debate about the resource rent tax and talk about the market. It’s getting shellacked. Our colleagues Kris Sayce and Alex Cowie are finding many of the positions they’ve recommend in their publications since the March lows are declining and hitting suggested trailing stop levels.

There’s a lot of ground to cover in today’s Daily Reckoning. The Henry Tax Review was unveiled yesterday. Depending on who you listen to is either a huge boon for super annuation, or the death knell of Australian mining investment. And finally, China has again tightened bank lending; leading to unknown consequences for the world’s hottest running economy and its satellite economy here in Australia.

The importance is dependent on your perspective. Those people who are not borrowing money to spend are thus suffering the pangs of a lowering of their lifestyle, which depended on borrowing money to spend;

Maybe she didn’t support an effective 30% compulsory super contribution after all. Time for some humble pie we thought.

And then we ‘un-thought’ the idea of eating some humble pie.

It seems that rather than coming to the wrong conclusion, instead we made a schoolboy error by quoting the wrong part of the submission.

Australians pay waaaaaaaaaaaay too much tax. We’ve highlighted before that the government’s total tax intake is around 40% of GDP. We’re aware the government enjoys expressing things as a percentage of GDP, although we haven’t heard them mention that statistic too often. So, we thought we would pay a visit to the Australia’s Future Tax System website, and in particular drop-in on the terms of reference for the review…