Tax Rates (1 Viewer)

How do you feel about the current tax rates on the rich?

  • The rich should be taxed less.

  • The rich should be taxed more.

  • The rich should be taxed the same as they currently are.


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scaryshark09

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For more context,

- Those who earn $30,000 a year are currently taxed $2,242
- Those who earn $50,000 a year are currently taxed $6,717
- Those who earn $80,000 a year are currently taxed $16,467
- Those who earn $100,000 a year are currently taxed $22,967
- Those who earn $200,000 a year are currently taxed $60,667
- Those who earn $500,000 a year are currently taxed $195,667
- Those who earn $1,000,000 a year are currently taxed $420,667
 
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scaryshark09

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when u mean "the rich should be taxed less", do u mean "taxed less" than what they are getting taxed now, or getting "taxed less" than other working class people
lol it means less than what they are currently being taxed
i dont think anyone would argue for the rich being taxed less than the poor
 

liamkk112

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high tax is good if it is actually used well, take some european countries for example where yes tax is super high but public transport, education, hospitals, etc are all free and super high quality as a result. i don't think australia is as good as those countries cough cough privitisation but i think paying a decent amount of tax is still good. imo we should leave tax as it is for now, especially for those earning <= 100,000-200,000 (increasing it for the rich is fine), since increasing it would not help with the ongoing cost of living crisis, and decreasing it wouldn't make much sense either since we also need government expenditure rn and the tax isn't crazy high right now to the point where decreasing it would have a lot of benefit
 

scaryshark09

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woah, didn't realise tax was this much
yeah, if you earn 500k, you practically only have 300k after tax, and that's only enough for a mortgage of a pretty average house, with barely any money left over for food, education, car/travel, literally everything else.
to live comfortably in sydney, you really need to be earning at least 800k (so yeah, the only logical move is to leave sydney)
 

carrotsss

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that's only enough for a mortgage of a pretty average house, with barely any money left over for food, education, car/travel, literally everything else.
to live comfortably in sydney, you really need to be earning at least 800k (so yeah, the only logical move is to leave sydney)
????? i can’t tell if ur joking or not but at 300k after tax you should be considering investment properties and stuff like that, if you aren’t comfortable on 300k then you need to learn how to manage money well, mortgages don’t cost that much. not everyone in sydney is top 1%
 

scaryshark09

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????? i can’t tell if ur joking or not but at 300k after tax you should be considering investment properties and stuff like that, if you aren’t comfortable on 300k then you need to learn how to manage money well, mortgages don’t cost that much. not everyone in sydney is top 1%
you'd be surprised how quickly a mortgage eats up your 300k.
ik you dont live in sydney, but this is the reality here. on a 30 year mortgage, most of what you pay back is interest also. like you pay 7 million for 3 million house
 

its_ace21

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"As of 27 August 2023, Australia's prime minister is paid a total salary of A$586,950. This is made up of the 'base salary' received by all members of parliament (A$225,750) plus a 160 percent 'additional salary' for the role of prime minister."

yea
 

scaryshark09

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"As of 27 August 2023, Australia's prime minister is paid a total salary of A$586,950. This is made up of the 'base salary' received by all members of parliament (A$225,750) plus a 160 percent 'additional salary' for the role of prime minister."

yea
my principal in high school is paid double that i think lmao
 

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