Labour party has gone full socialist

[Mofra]

I don't think you'll get much traction for a policy that removes a tax burden on what will be seen as big business, even if it results in more money for the employees.

During a campaign perhaps not, but parties do, occasionally, have moments where they consider the national interest.

 

[Taylor]

During a campaign perhaps not, but parties do, occasionally, have moments where they consider the national interest.

We have a clear choice here between the Morfa party that wants to hand billions to big business and the Taylor party that wants to put more money in your pay packet.

Politicians are self serving scum when there's an easy free kick like that.

I agree that we need a reform of our tax code. The cleanest is always a consumer based system where those who spend more pay more, except that ends up impacting people with less disposable income disproportionately as they have to buy the unavoidable goods and services.

 

[Mofra]

We have a clear choice here between the Morfa party that wants to hand billions to big business and the Taylor party that wants to put more money in your pay packet.

Politicians are self serving scum when there's an easy free kick like that.

I agree that we need a reform of our tax code. The cleanest is always a consumer based system where those who spend more pay more, except that ends up impacting people with less disposable income disproportionately as they have to buy the unavoidable goods and services.

I don't have a problem with consumer based taxes provided they are balanced with a tiered income tax system and with company tax.

The so called 'hidden' taxes do add complexity to our system, as well as the myriad of minimisation measures.

 

[Ned_Flanders]

We have a clear choice here between the Morfa party that wants to hand billions to big business and the Taylor party that wants to put more money in your pay packet.

Politicians are self serving scum when there's an easy free kick like that.

I agree that we need a reform of our tax code. The cleanest is always a consumer based system where those who spend more pay more, except that ends up impacting people with less disposable income disproportionately as they have to buy the unavoidable goods and services.

People will vote Mofra because he's also gunna legalize weed, and outlaw AFLX

 

[Mofra]

People will vote Mofra because he's also gunna legalize weed, and outlaw AFLX

Football violence reduces by 90% because it's impossible to fight when stoned.

 

[HairyO]

Its taking people out of the non childcare workforce inefficiently. Theres more at play economically then just the direct subsidy. We all lose when people work inefficiently or dont work at all. It leads to higher costs and prices.

The childcare subsidy and ever increasing regulations has led to MASSIVE cost increases. Far more than a few people wanting to use nannies.

So is cost your issue? Or people with money wanting government cash?

 

[Seeds]

The childcare subsidy and ever increasing regulations has led to MASSIVE cost increases. Far more than a few people wanting to use nannies.

So is cost your issue? Or people with money wanting government cash?

It has led to cost increases in childcare but this isnt the issue Im arguing.

My issue with cost increases in this particular discussion is not in childcare but in other sectors when you use eight nannies to look after eight kids vs 1 child care worker to look after eight kids. It takes 7 people out of the non childcare workforce by promoting nannies over childcare. Just to look after 8 kids. This reduces production and increases costs in the rest of the economy.

 

[Seeds]

I guess you are not in line for much of an inheritance then?

My side of the family no. My wifes parents are loaded however.


We could get 2 million from them for doing absolutely nothing and pay zero tax. Yet a person on a 100 grand a year would take 20 years of work to earn that same amount and then have to pay 400 thousand or so tax on it. Does anyone not see how ridiculous this is? The person getting the money for free should be the one paying the tax while the person who spent twenty years slaving away should get it tax free. Not the other way round.


The system favours people with rich parents. This is what the poor should be complaining about.

 

[QuietB]

My side of the family no. My wifes parents are loaded however.


We could get 2 million from them for doing absolutely nothing and pay zero tax. Yet a person on a 100 grand a year would take 20 years of work to earn that same amount and then have to pay 400 thousand or so tax on it. Does anyone not see how ridiculous this is? The person getting the money for free should be the one paying the tax while the person who spent twenty years slaving away should get it tax free. Not the other way round.


The system favours people with rich parents. This is what the poor should be complaining about.

Sounds rather socialist to me

 

[Seeds]

Sounds rather socialist to me

Socialists disincentivise effort. I do the opposite. Increase inheritance tax and reduce income taxes on workers and capital creators. This encourages work and creation.

 

[Taylor]

My side of the family no. My wifes parents are loaded however.


We could get 2 million from them for doing absolutely nothing and pay zero tax. Yet a person on a 100 grand a year would take 20 years of work to earn that same amount and then have to pay 400 thousand or so tax on it. Does anyone not see how ridiculous this is? The person getting the money for free should be the one paying the tax while the person who spent twenty years slaving away should get it tax free. Not the other way round.


The system favours people with rich parents. This is what the poor should be complaining about.

The person passing the wealth on paid tax on it over their life in theory didn't they?

What claim should the state have to further benefits of their work once they die? Conversely, what reason does the state have to not seize the entirety of their estate once they die?

 

[QuietB]

Socialists disincentivise effort. I do the opposite. Increase inheritance tax and reduce income taxes on workers and capital creators. This encourages work and creation.

No socialists look to more equitably distribute wealth.

Pretty sure an inheritance tax is redistributing wealth.

 

[Taylor]

If the government will gain a greater share of wealth with which to enrich the lives of the rest, what conflict of interest might be present by a nation that benefits more the earlier the elderly pass away?

 

[Taylor]

No socialists look to more equitably distribute wealth.

Pretty sure an inheritance tax is redistributing wealth.

It's looked at like a lottery win, you're more comfortable giving up $100,000 when you're still getting $140,000.

 

[Sausages]

Socialists disincentivise effort. I do the opposite. Increase inheritance tax and reduce income taxes on workers and capital creators. This encourages work and creation.

This might appeal to you Seeds.

Participatory Economics

 

[Seeds]

The person passing the wealth on paid tax on it over their life in theory didn't they?

What claim should the state have to further benefits of their work once they die? Conversely, what reason does the state have to not seize the entirety of their estate once they die?

Other peoples effort is not your effort. This whole double taxation argument is elitist propoganda and the poor keep falling for it. If your father commits a crime and dies then you dont go to jail in his place. You dont get his job etc. You should not get his money. There is a strong argument the state should take everyones estates after they die. Do you know how low income taxes would be if they did that? I probably wouldnt go that far though as its not utility maximising. But I would have higher taxes on inheritance then income acccrued through your own effort.

 

[Mofra]

If the government will gain a greater share of wealth with which to enrich the lives of the rest, what conflict of interest might be present by a nation that benefits more the earlier the elderly pass away?

The other side of the coin - people 'gift' their assets to a discretionary trust with more than one trustee and therefore there is technically no inheritance upon the death of one beneficiary of that trust.

It doesn't sound like a difficult tax to avoid unless someone tragically dies suddenly. It may even be seen as a tax on the unlucky.

 

[GoldenSky]

My side of the family no. My wifes parents are loaded however.


We could get 2 million from them for doing absolutely nothing and pay zero tax. Yet a person on a 100 grand a year would take 20 years of work to earn that same amount and then have to pay 400 thousand or so tax on it. Does anyone not see how ridiculous this is? The person getting the money for free should be the one paying the tax while the person who spent twenty years slaving away should get it tax free. Not the other way round.


The system favours people with rich parents. This is what the poor should be complaining about.

You pay zero tax because it was money saved by your wife's parents after they had paid all their tax on it...

 

[QuietB]

You pay zero tax because it was money saved by your wife's parents after they had paid all their tax on it...

That is only kind of true.

These days it is more likely to be years of franking credits your wife parents have accumulated while they have sponged off the public health system allowing them to live to 100.

So we cannot be sure they "paid all their tax on it"

 

[HairyO]

It has led to cost increases in childcare but this isnt the issue Im arguing.

My issue with cost increases in this particular discussion is not in childcare but in other sectors when you use eight nannies to look after eight kids vs 1 child care worker to look after eight kids. It takes 7 people out of the non childcare workforce by promoting nannies over childcare. Just to look after 8 kids. This reduces production and increases costs in the rest of the economy.

I also think its terrible that there are so few candlestick makers these days.

Youre sounding particularly Communist here, not just Socialist. Government created artificial industries are terrible.

 

[Taylor]

The other side of the coin - people 'gift' their assets to a discretionary trust with more than one trustee and therefore there is technically no inheritance upon the death of one beneficiary of that trust.

It doesn't sound like a difficult tax to avoid unless someone tragically dies suddenly. It may even be seen as a tax on the unlucky.

You're right. I'd expect it to impact those who don't know how to put their home into a trust, the average person would get stiffed.

 

[GoldenSky]

That is only kind of true.

These days it is more likely to be years of franking credits your wife parents have accumulated while they have sponged off the public health system allowing them to live to 100.

So we cannot be sure they "paid all their tax on it"

Well, not really. I suspect franking credits are more to be accumulated by a few thousand retirees living somewhere bogan like a Gold Coast canal, who have hired a "tax advisor" to make their $2 in assets accumulated over a lifetime stretch further.

 

[Taylor]

Other peoples effort is not your effort. This whole double taxation argument is elitist propoganda and the poor keep falling for it. If your father commits a crime and dies then you dont go to jail in his place. You dont get his job etc. You should not get his money. There is a strong argument the state should take everyones estates after they die. Do you know how low income taxes would be if they did that? I probably wouldnt go that far though as its not utility maximising. But I would have higher taxes on inheritance then income acccrued through your own effort.

Why should someone inherit their citizenship?

 

[iluvparis]

Cos work is in the city and not the outer suburbs. Research shows one of the most important drivers of happiness is reduced commute time. Driving or public transporting for 1 to 1.3 hours twice a day is horrific for mental health.

Living in a shoebox doesn't seem to be doing much for your mental health - perhaps you should try commuting ?

 

[Ned_Flanders]

Living in a shoebox doesn't seem to be doing much for your mental health - perhaps you should try commuting ?

More importantly Seeds how can you be this angry with the catters winning? Have a beer, watch the game, jump the missus, and relax