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The Forum > Article Comments > Death taxes are no way to deal with intergenerational inequality > Comments

Death taxes are no way to deal with intergenerational inequality : Comments

By Graham Young, published 22/9/2023

The Productivity Commission job must have looked uninviting if the chance to preside over the gradual bankruptcy of Victoria was more appealing.

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Any talk of "reform" by a far Left politician raises hairs on the back of the neck.

When I hear 'death taxes' I imagine a pack of hyenas feeding off a carcass left by a higher order of animal that put in the effort to provide for itself and its family.
Posted by ttbn, Friday, 22 September 2023 9:41:53 AM
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Death taxes are a red herring - they will never happen again in this country. So also is the portrayal of Piketty - his main analysis is that the comparative equality of the mid 20th century was a historical anomaly. True.

But we can agree, that the appointment of the legally-blonde Grattan hack Danielle Wood is astonishingly corrupt. A perfect pal for the patsies Kennedy at Treasury, Bullock at RBA, and Gruen at ABS.

Chalmers now has a quadrella of four "independent" economic advisers on huge salaries who'll do exactly as they are told, especially as regards endorsing massive immigration and the fiction of "net zero".
Posted by Steve S, Friday, 22 September 2023 10:37:29 AM
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I fail to see a modest tax linked to GST as simple example, would be a burden to those lucky enough to win the inheritance lottery.
Posted by diver dan, Friday, 22 September 2023 10:39:40 AM
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I agree. And I believe we need root and branch tax reform which I have laid in detail in earlier commentary. So, I won't repeat myself yet again as that would be a useless exercise that as usual, falls on tin ears and closed minds desperate to maintain the status quo and privilege.

And too stupid with closed minds and closed ears, to understand with my proffered tax reform, everybody is better off except the tax avoiders and evaders!

Why should a small and shrinking cadre of the less well-off carry almost the entire tax burden, while the wealthiest pay almost nothing or nothing whatsoever!

We do not need all the productivity killing taxes we currently pay and the myriad tax compliance costs that are inherent with them.

Young people should not be saddled with the debt of older generations and inept, corrupt and or incompetent governments! And get nothing for it except the debt!

If we taxed the multinationals the same as the local businesses, we could build a rapid rai system the envy of the world and inherit the huge economic benefit and growth that would be part of that infrastructure roll out.

Cant died in a cornfield over a century ago!

Just take a butchers at Japan while she built her rapid rail and the economic growth and expansion it produced at that time.

Only killed by debt laden speculators the government was too stupid to keep out! And not the only economic miracle to be destroyed by the same economic predation/insanity.
Alan B.
Posted by Alan B., Friday, 22 September 2023 8:06:12 PM
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Of course they are, even The Economist thinks they are the best of all taxes. I'd suggest say anything over $5Million, taxed at 85% would be a good place to start

Embedding oligarchal inequality is never a good thing and leads to nothing but corruption

https://www.economist.com/leaders/2017/11/23/a-hated-tax-but-a-fair-one

"Roosevelt, who warned that letting huge fortunes pass across generations was “of great and genuine detriment to the community at large”, would doubtless be aghast at the situation today"

>The right approach is to strike a balance between the two extremes. The precise rate will vary from country to country. But three design principles stand out. First, target the wealthy;
Posted by Valley Guy, Friday, 22 September 2023 9:49:58 PM
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If you through your industry, frugality and deferred gratification have managed through your own efforts to retire wealthy. Why should the drones, bludgers and piss up the wall, fellow countrymen think that yours/my Children's inheritance should be taxed?

It'd kill the vote for any party stupid enough to install it.

There's a better and fairer way that taxes all equally and equitably in fair measure to their means and income. And improves productivity, plus, eliminates avoidance and tax avoiding Ponzi schemes, ends bracket creep.

Raises more ATO annual income, 60 billion per, minimum, while removing costly compliance costs and entirely unproductive number crunching. And it starts and ends with a 15% flat tax.
Alan B.
Posted by Alan B., Saturday, 23 September 2023 10:28:48 AM
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