As the previous post suggested, the OECD, Australian Treasury and others are off on their usual tax “reform” trip: a simple switch from income tax to greater reliance on a tax on goods and services. (Six of one half a dozen of the other. 🙁 )
When will Australians find the intestinal fortitude again that we once had to have land ‘tax’–it’s a rent actually–front and centre at all three levels of government? It injects zero deadweight loss into the economy for God’s sake, compared to more than twice the amount levied for ‘conventional’ taxes!
That’s certainly not the usual switch from one tax to another. That’s genuine reform!
It’s one BIG disadvantage, however, is that it does offend the uber-wealthy and their stooge economists – and they’ve been calling the shots!