Writing in 2020, PwC explained for us plebs that switching from progressive taxes—those that result in a general transfer of wealth from the rich to the poor—to higher consumption taxes could increase the size of the economy by up to 1 percent “in the long term”. Of course, there’s no discussion of the effect an increase in taxes on workers and pensioners would have on poverty rates, wealth inequality or living standards.The GST should be abolished, and tax rates on companies and the wealthy should be increased to make up the difference.
Source: redflag.org.au
Latest Posts in "Australia"
- Australia Proposes GST Updates for Copyright and Digital Media to Modernize Tax Frameworks
- Australia’s e-Invoicing Mandate: Key Highlights
- ATO Proposes New GST Rules for Copyright and Multimedia Transactions in Australia
- Australia Sets 2026 Deadline for Mandatory E-Invoicing with Government Agencies
- Australia Mandates E-Invoicing for Government Agencies by 2026 to Boost Efficiency and Reduce Fraud
