Australian Politics Forum - Do High Income Earners Pay Enough Tax,

Swagman

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Re: Do High Income Earners Pay Enough Tax,
Reply #60 - Dec 30^th, 2012 at 4:04pm

Peter Freedman wrote on Dec 30^th, 2012 at 3:15pm:

Am just reading Who Wants to be a Billionaire by Paul Barry, a biography of James Packer.

It points out that James' father, the late, unlamented potty mouthed bully, Kerry Packer, paid a lower rate of tax than his gardener.

In NZ, mega wealthy property developer and dabbler in politics, Bob Jones, once proudly boasted the only tax he paid was GST.

I assume Swag and his fellow right wingers would applaud.

I've heard that hearsay about K Packer before. Even if it's fair dinkum you have to look at it laterally.

I have no idea how many shares K Packer owned in his corporate empire however every dollar of dividend paid to him (and others) would have attracted 30% company tax.

I'd hasten to bet that that would add up to a sizable chunk of tax revenue for the Govt pork barrel.... Wink

It's also interesting that you bring up the GST in such a context. Your lefty comrades here believe (mistakenly) that the GST is not an effective tax and that it doesn't tax the black economy / tax avoiders?

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Peter Freedman Gold Member Offline Australian Politics Posts: 5275 Wellington Gender:	Re: Do High Income Earners Pay Enough Tax, Reply #61 - Dec 30^th, 2012 at 4:23pm I've looked at it laterally, even tried standing on my head. It didn't work. Kerry Packer's business interests were controlled by trusts registered in the Bahamas. I doubt Bahamian trusts pay tax in Australia.
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corporate_whitey

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Re: Do High Income Earners Pay Enough Tax,
Reply #62 - Dec 30^th, 2012 at 4:25pm

gold_medal wrote on Dec 30^th, 2012 at 3:51pm:

corporate_whitey wrote on Dec 30^th, 2012 at 3:48pm:

gold_medal wrote on Dec 30^th, 2012 at 3:46pm:

corporate_whitey wrote on Dec 30^th, 2012 at 3:42pm:

we clearly have an unproductive distribution in wealth so while we have to rip right into the rich with taxation - we have to tackle how wealth is being channeled - no more prize money and professional sports for instance...., more of an emphasis on intelligence, insight and wisdom rather than physical appearance....

like you 400kg rotund appearance that children run from in fear and small objects orbit?

careful...your Mullet is moving dumb 'rse...

so now that you have been released from your latest mandatory detention at Her Majesty's Pleasure your new belief is that world's ills are mullets and bogans? last time before that was Nazis and before that athiests and Celts and a million others.

You are insane and in this case you DO have the certificate to prove it.

Its no exaggeration, you are an ignorant stupid Bogan and your Mullet is showing, you have all of the classic symptoms of the narrow minded Bogan species and whats more you are proud.... Grin

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World Wide Working Class Struggle

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corporate_whitey Gold Member Offline Australian Politics Posts: 8896 Archivist	Re: Do High Income Earners Pay Enough Tax, Reply #63 - Dec 30^th, 2012 at 4:31pm I have a great work ethic, I am a left wing pacifist and I am on welfare for life and I can tell you this nations economy is unproductive because it is run by and for dumb 'rse Bogans and they are all looking for the next spin on the Pokies to get rich quick....
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corporate_whitey Gold Member Offline Australian Politics Posts: 8896 Archivist	Re: Do High Income Earners Pay Enough Tax, Reply #64 - Dec 30^th, 2012 at 4:33pm You cant have a productive economy without a stroing manufacturing base You cant run an economy based on prize money for Bogans playing professional sport... You cant run a productive economy with a defense budget...
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perceptions_now

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Re: Do High Income Earners Pay Enough Tax,
Reply #65 - Dec 30^th, 2012 at 4:56pm

Big Dave wrote on Dec 30^th, 2012 at 2:32pm:

hadrian_now wrote on Dec 30^th, 2012 at 2:24pm:

According to the ATO tax calculator, the tax to be withheld from a gross weekly of $800 is $109.

That's not what the pay slip in front of me says. Dated 13th of sept 2012 I earnt $885.55 gross (which is a big pay for me) I payed $215.00 tax.

Dave,
I suggest you have a chat, with whoever makes up your pay.

If you pay $100 per week in tax for $800 income p/week, which is $41,600 PA, BUT pay $215 P/W for an income of $885 P/W, which is $46,020, that means you pay an additional $5,980 P/A on the extra income of $4,420 AND clearly that is incorrect!

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Big Dave

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Re: Do High Income Earners Pay Enough Tax,
Reply #66 - Dec 30^th, 2012 at 5:28pm

corporate_whitey wrote on Dec 30^th, 2012 at 4:25pm:

gold_medal wrote on Dec 30^th, 2012 at 3:51pm:

corporate_whitey wrote on Dec 30^th, 2012 at 3:48pm:

gold_medal wrote on Dec 30^th, 2012 at 3:46pm:

corporate_whitey wrote on Dec 30^th, 2012 at 3:42pm:

we clearly have an unproductive distribution in wealth so while we have to rip right into the rich with taxation - we have to tackle how wealth is being channeled - no more prize money and professional sports for instance...., more of an emphasis on intelligence, insight and wisdom rather than physical appearance....

like you 400kg rotund appearance that children run from in fear and small objects orbit?

careful...your Mullet is moving dumb 'rse...

so now that you have been released from your latest mandatory detention at Her Majesty's Pleasure your new belief is that world's ills are mullets and bogans? last time before that was Nazis and before that athiests and Celts and a million others.

You are insane and in this case you DO have the certificate to prove it.

Its no exaggeration, you are an ignorant stupid Bogan and your Mullet is showing, you have all of the classic symptoms of the narrow minded Bogan species and whats more you are proud.... Grin

Did a bogan fart in your face or something whitey? It's always bogan bogan bogan. Has a bogan ever done anything to you except being poor, white and poorly educated.

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Swagman Gold Member Offline Beware of cheap imitations...... Posts: 15095 Illawarra NSW Gender:	Re: Do High Income Earners Pay Enough Tax, Reply #67 - Dec 30^th, 2012 at 5:43pm Peter Freedman wrote on Dec 30^th, 2012 at 4:23pm: I've looked at it laterally, even tried standing on my head. It didn't work. Kerry Packer's business interests were controlled by trusts registered in the Bahamas. I doubt Bahamian trusts pay tax in Australia. I haven't seen his tax returns have you?
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adelcrow

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Re: Do High Income Earners Pay Enough Tax,
Reply #68 - Dec 30^th, 2012 at 6:05pm

Swagman wrote on Dec 30^th, 2012 at 5:43pm:

Peter Freedman wrote on Dec 30^th, 2012 at 4:23pm:

I've looked at it laterally, even tried standing on my head. It didn't work.

Kerry Packer's business interests were controlled by trusts registered in the Bahamas. I doubt Bahamian trusts pay tax in Australia.

I haven't seen his tax returns have you?

Last time I heard he paid less tax than the lady cleaning his office.
But he did leave a son that hated his guts so even his own family thought very little of him.

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corporate_whitey

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Re: Do High Income Earners Pay Enough Tax,
Reply #69 - Dec 30^th, 2012 at 6:12pm

The Government gives billions of dollars from productive sectors to non productive bogans and all they have to do is be born with the ability to play football or be wags..nothing else....they also allow them to supplement that income with gambling revue...no value added production takes place in this transfer, no industries created, no jobs, its just a strait up unproductive parasitic wealth transference...

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Big Dave

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Re: Do High Income Earners Pay Enough Tax,
Reply #70 - Dec 30^th, 2012 at 6:53pm

corporate_whitey wrote on Dec 30^th, 2012 at 6:12pm:

The Government gives billions of dollars from productive sectors to non productive bogans and all they have to do is be born with the ability to play football or be wags..nothing else....they also allow them to supplement that income with gambling revue...no value added production takes place in this transfer, no industries created, no jobs, its just a strait up unproductive parasitic wealth transference...

Just like the aborigines.

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Andrei.Hicks

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Re: Do High Income Earners Pay Enough Tax,
Reply #71 - Dec 30^th, 2012 at 9:15pm

The high income earners (the Rich) do pay little tax - this is the way of the world, they can move capital around and avoid tax. Nobody can really do anything about this.

The problem in Australia you have from my own personal experience is the higher middle incomes pay oppressive amounts of tax compared to the rest of the world.

All this talk I have seen in the past by Swan (and repeated on here by the Labor parrots who have near on zero understanding of economics and finance) that there has been tax cuts is simply mis-leading.

Taxes have actually been cut by just $3 for middle incomes.
Also the middle and upper tax bands have been RAISED for the next coming years and people will end up paying more tax than before on salaries of $180k.

Australia is high taxing. For the same job and salary in Australia compared to me in the USA, the Aussie worker will pay almost $10k more in tax than I do.

People may say they get additional services for that. Well you don't think you can get your own services for $10k per year!!!

Australia is not a good place for the middle income family - which I guess is why there is so much cost of living pressure.

You are taxed more and you pay more for everyday goods and services. Not ideal.

The Rich escape taxes they always do.
The middle incomes though get caught and its not right.

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Anyone who lives within their means suffers from a lack of imagination - Oscar Wilde

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Sir Spot of Borg Gold Member Offline WE ARE BORG Posts: 26509 Australia	Re: Do High Income Earners Pay Enough Tax, Reply #72 - Dec 31^st, 2012 at 5:44am 180k is not middle income. SOB
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aquascoot

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Re: Do High Income Earners Pay Enough Tax,
Reply #73 - Dec 31^st, 2012 at 6:06am

Sir Spot of Borg wrote on Dec 31^st, 2012 at 5:44am:

180k is not middle income.

SOB

andrei is fairly correct.
most of the very rich pay very little.
$180 k is a level where many of the most productive people in the economy operate.
your best IT people, the cream of tradesmen, engineers, your best farmers, financial services workers, many small business owners will spend quite a lot of time in this bracket.

at 47 % tax, you are putting them on 1/2 wages and many just ease up . thi may be a good thing for them persoanlly. some will get into the very destructive and economy distorting games.....negative gearing Sad

, leverage in shares Sad

investing off shore Sad

, private super(expensive and removing productive assets out of business investment and having them "mpth balled" Sad

.

so whilst no one is starving on $180 k, by exclusively attacking them, the public really shoot themselves in the foot.
many of our brightest science, medical, business people up root and head of to dubai, hong kong , singapore, where they are welcomed with open arms.

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perceptions_now Gold Member Offline Australian Politics Posts: 11694 Perth WA Gender:	Re: Do High Income Earners Pay Enough Tax, Reply #74 - Dec 31^st, 2012 at 10:53am For information purposes - http://memoricardo.wordpress.com/2012/02/23/69170-australias-average-wage/ http://www.abs.gov.au/ausstats/abs@.nsf/mf/6302.0/ I would suggest that something around $70,000 is closer to the average OR Mid range of annual earnings.
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