Comments on: Soaking the rich

By: Ed Snack

Ed Snack — Mon, 03 Dec 2012 22:09:41 +0000

One does need to be careful with the figures. Apparently a good deal of the drop is due to income being “brought forward” into the prior tax year to avoid the higher rates. So there aren’t perhaps quite so many fleeing the country as it would appear. Next year’s receipts will perhaps show a more accurate picture of the change.

By: Leigh Lowe

Leigh Lowe — Mon, 03 Dec 2012 21:11:52 +0000

Don’t worry the French have got this covered if lifting taxes to 50% doesn’t raise enough go to 75%

Yes Kingsley.
And I read recently of French outrage when that darling of left, Gerard Depardieu, bought a house across the border in Belgium, presumably to avoid being taxed onto oblivion by Francois Hollande.

By: Leigh Lowe

Leigh Lowe — Mon, 03 Dec 2012 21:06:54 +0000

There is another take on this in that it demonstrates that the left simply do not understand ingenuity and innovation.
Everytime they introduce an impost they are surprised, even outraged, when people use their intellect and creativity to avoid it.

By: John Comnenus

John Comnenus — Mon, 03 Dec 2012 19:29:04 +0000

The Anti Laffer. The rich will always take the Laffer line of least resistance to maintain their wealth.

I think David Cameron (who hasn’t repealed this idiocy) and Vic Premier Ted went to the same school. Be reasonable, give the Left everything they want to appear reasonable and do nothing that might be construed as conservative or libertarian. Alas, I forgot to mention Malcolm (I’m a fan of David Cameron) Turnbull.

Is there anyone on the Right who will fight for less government?

By: The Beer Whisperer

The Beer Whisperer — Mon, 03 Dec 2012 13:28:37 +0000

Income tax rates should be optimal, not based on an envy-derived sense of entitlement. These figures clearly show it to be somewhere south of 50%. Of course, this is not at all surprising.

By: dismissive

dismissive — Mon, 03 Dec 2012 10:41:15 +0000

Try looking at Australia’s rules on SMSF and becoming a foreign resident. I don’t think I like any legislation that uses the word confiscate.

Leaving can be VERY expensive.

By: DavidLeyonhjelm

DavidLeyonhjelm — Mon, 03 Dec 2012 10:27:14 +0000

Whenever you hear about so-called evil tax havens, this is the reason. The rich find ways to transfer their money to low tax environments, prompting high taxing countries to complain about them.

Vanuatu is our tax haven. If soaking the rich catches on here, that’s where much of the money will go.

By: kingsley

kingsley — Mon, 03 Dec 2012 10:08:17 +0000

Don’t worry the French have got this covered if lifting taxes to 50% doesn’t raise enough go to 75%