If you’re still with me you might be familiar with my last few posts describing my idea of a simplified tax system. Basically, we tax transactions of money in exchange for goods and services, between two tax paying entities . The tax consists of two components: Continue reading
Despite all the brilliant-ness of this tax system, it has some shortcomings. Here I will try to cover all the problems I can think of before anyone else points them out!
The Rich are not singled out
One is that there is still argument that the rate at which the rich pay tax should be higher than for lower income people. This system does not address that except by allowing for a higher D-Factor on transactions favoured by the rich. Continue reading
Previously I discussed the selection of appropriate D-Factor values. In this post I will go over in more detail some of the unusual types of payments we make and explain how this tax system applies to those payments. I won’t talk about the standard payment for goods and services as they are straight-forward enough. Continue reading
Whenever there are changes to the tax system, you always find people who say “We’re worse off now than before!” Yeah well, you can’t please everybody all the time. And that’s usually because the changes are too abrupt. The government decides to tax him less and her more after July 1, so the changes will be sudden and potentially disruptive. Continue reading
With nearly every election and federal budget delivery comes with a renewed campaign to overhaul the tax system. Some highly paid bureaucrat will publish a report with his name as the title, recommending a bunch of complex changes to “improve” the tax system. Up pop catchy new names for these new taxes. Deficit Tax. Carbon Tax. Yet Another Tax. Yet another special case of revenue collection with its own peculiarities to administer. Let’s not do this. The tax system is a dog’s breakfast. Continue reading
Yunupingu died earlier today.
The lead singer of Australian band Yothu Yindi was 56 and was suffering from kidney failure. Far too young.
He is best known for the song Treaty which was written by Yothu Yindi and Paul Kelly and Midnight Oil front man Peter Garret, around the time the then prime minister Bob Hawke promised to form a treaty between the Indigenous Australians and the Australian government by 1990. And then failed to do so. Treaty was originally intended to raise public awareness of the promise made and then became a protest song when the promise was broken. Continue reading
This is a protest song about the treatment of the Australian indigenous people during the time of the first European settlement and the whole invading-the-country thing. It’s suggesting the accepted history is inaccurate and that it wasn’t the relatively peaceful encounter many are led to believe. Continue reading