So we have stalled
Yet in a way proved for some, in depth conversations about other that our biases is not happening
Others outside our walled place of debate, all over the world are talking about this
As the coming financial crisis, seen here in house prices falling, are in my view, like every past crisis, evidence new capitalism will come

I'm all for paying a reasonable amount of Tax but when I see so much tax money being blatantly squandered I can't help feeling dismayed !
People get right up front to demand services but when people are asked to contribute in a small way, they dissolve into the background.
This nation is crying out for infrastructure projects that create much needed employment yet only a fraction of public funding goes in that direction.
Capitalism should be creating money, not get it out the Govt coffers !

Hey mhaze,

My argument wasn't so much in regards to an actual dollar amount rather than the 'principle of double dipping' whenever and wherever it exists.
I'm not a tax agent, and I don't know all the ins and outs.

My argument was that 'double dipping whenever and wherever it exists is no more a fair and reasonable tax system than a ponzi scheme'.

Its the 'principle' of it.

If your father 'as a hypothetical' busts his backside working a crap job all his life to put food on the table and pay off the family home;
then he already paid the tax on the money he earned to pay for the family home.

The money he used to buy the family home was HIS money - the money that was left over after he'd already paid a tax component.

Now if he passes and you end up with the house in an inheritance there's no immediate tax owed, but if you sell it there is a CGT.

And if you look at it technically, he passed and transferred ownership of all he had to you.
All he had being 'what he had AFTER he paid his tax'.

Now the government wants another bite.
They can call it anything they want, but for them to try to take another bite 'get their mitts on it anyway they can'.
- is no different than taxing your Dad again as the a tax on dying.

The same for gifts:
A hundred dollars or a million dollars.
If one person already paid the tax when it was earned;
then if there is another tax in the simple transfer of ownership then that's double dipping.

Most times a transfer of ownership of money occurs its a business transaction which includes a tax for 'goods and services'.

Transferring ownership of money or assets by gifting them technically should not ever incur a tax;
so long as the 'gift' is not actually a payment for some kind of 'service rendered'.

A recent visitor to our shores, that fine America Rupert Murdock, pays very little if any tax
This government pays him
Why should the very wealthy avoid tax but the worker have his/hers taken out of the pay packet
Is the current form of capitalism creating wealth for the few and poverty for the rest

If I build a boat in my spare time with materials I purchased from the hardware store & all tax paid but the boat doesn't make me any money then it should not be an asset & be taxed again as in old age pension asset test..
If my kids end up with it then they should pay an inheritance tax but this tax should not be more than 5%. This would serve several sound economic points.
The kids will learn that nothing is free, the tax department would learn that people deserve what they worked for, people would feel rewarded rather than perseucted for their efforts & it would stimulate local economy.
Not to see the positives in that requires a Uni indoctrination.

We are at the shallow end of the pool now writing of that well known hip pocket nerve and ignoring the very real truth
Those who pay no tax, but have huge incomes are leaching off the rest of us
Why, we are not talking about thousands but millions even billions
What is an economy if it has not intention of being fair