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Rich get big tax breaks (Read 1688 times)
freediver
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Rich get big tax breaks
Mar 25th, 2008 at 2:42pm
 
http://www.theaustralian.news.com.au/story/0,25197,23426874-5014046,00.html

HIGH-INCOME earners have been pocketing more than twice as much in lucrative tax offsets as lower- and middle-income earners.

But many of these lop-sided tax breaks - including the childcare rebate, baby bonus and superannuation offsets - may survive the government razor gang despite pressure to find billions of dollars in budget savings.

Analysis by The Australian reveals that almost one in three taxpayers on between $150,001 and $500,000 received big-ticket tax offsets in 2005-06. The average handout to the elites was $2241 - double the national average of $1043.

However, for ordinary workers on $50,001-$60,000, the typical benefit was just $938, a study of the latest official taxation statistics shows.

The analysis looked at 10 big-ticket tax offsets available to families and seniors, including the 30 per cent childcare and health rebates, baby bonus, various superannuation tax offsets, spouse tax offsets and the mature-age workers tax offset.

Kevin Rudd and his senior ministers have repeatedly ruled out spreading the budget pain to working families, with payments such as the former Howard government's baby bonus guaranteed even before the razor gang process is completed.

Senior ministers draw comfort from the reaction to last year's election tax platform, which deferred personal tax cuts for the top 2 per cent of earners on more than $180,000 a year.

But the recent run of statements from Mr Rudd ruling out cuts to the baby bonus and payments to seniors and pensioners raises questions about how far Labor is prepared to unwind the handouts of the previous government.

One of the glaring contradictions in the taxation statistics is the distribution of tax offsets between the top, middle and bottom rungs of the ladder.

Those on more than $100,000 a year comprised just 5.1 per cent of taxpayers in 2005-06, but they claimed 24.3 per cent, or $1.868billion, of the $7.676 billion in total tax offsets.
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easel
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Re: Rich get big tax breaks
Reply #1 - Mar 25th, 2008 at 2:58pm
 
But the rich still pay more in $ figures than the poor in tax and are much less likely to be receiving the same amount of handouts than the poor.
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deepthought
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Re: Rich get big tax breaks
Reply #2 - Mar 25th, 2008 at 2:59pm
 
freediver wrote on Mar 25th, 2008 at 2:42pm:
http://www.theaustralian.news.com.au/story/0,25197,23426874-5014046,00.html

HIGH-INCOME earners have been pocketing more than twice as much in lucrative tax offsets as lower- and middle-income earners.

  <snip>



Would you be so kind as to give us the figures as a percentage rather than as an absolute figure - which is, as anyone knows, meaningless in isolation.
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freediver
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Re: Rich get big tax breaks
Reply #3 - Mar 25th, 2008 at 3:48pm
 
Curlysue, they should be paying more tax than the poor and they shouldn't be getting any handouts. Most rich people would prefer to decide for themselves how to spend their money than to have the government take it away, waste half on bureacracy, then give it back to them under various conditions. Most poor people would also prefer the rich not to get handouts.
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deepthought
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Re: Rich get big tax breaks
Reply #4 - Mar 25th, 2008 at 4:10pm
 
freediver wrote on Mar 25th, 2008 at 3:48pm:
Curlysue, they should be paying more tax than the poor and they shouldn't be getting any handouts. Most rich people would prefer to decide for themselves how to spend their money than to have the government take it away, waste half on bureacracy, then give it back to them under various conditions. Most poor people would also prefer the rich not to get handouts.



Why shouldn't they get hand outs?  Such as first home buyers, family payments or baby bonus?
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Re: Rich get big tax breaks
Reply #5 - Apr 5th, 2008 at 2:11pm
 
deepthought wrote on Mar 25th, 2008 at 4:10pm:
freediver wrote on Mar 25th, 2008 at 3:48pm:
Curlysue, they should be paying more tax than the poor and they shouldn't be getting any handouts. Most rich people would prefer to decide for themselves how to spend their money than to have the government take it away, waste half on bureacracy, then give it back to them under various conditions. Most poor people would also prefer the rich not to get handouts.



Why shouldn't they get hand outs?  Such as first home buyers, family payments or baby bonus?



i'd luuuv to hear your justification as to Why they should dt........... Roll Eyes
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Re: Rich get big tax breaks
Reply #6 - Apr 5th, 2008 at 3:20pm
 
Most rich people would like poor people to be rich too, everyone pay the same tax.

rich people contribute more toward society
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Re: Rich get big tax breaks
Reply #7 - Apr 5th, 2008 at 8:35pm
 
Sprintcyclist wrote on Apr 5th, 2008 at 3:20pm:
Most rich people would like poor people to be rich too, everyone pay the same tax.



i'm sure they go to sleep wishing on that Roll Eyes it sounds more communist than the most optomist marxist

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deepthought
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Re: Rich get big tax breaks
Reply #8 - Apr 6th, 2008 at 9:35pm
 
Dooley wrote on Apr 5th, 2008 at 2:11pm:
deepthought wrote on Mar 25th, 2008 at 4:10pm:
freediver wrote on Mar 25th, 2008 at 3:48pm:
Curlysue, they should be paying more tax than the poor and they shouldn't be getting any handouts. Most rich people would prefer to decide for themselves how to spend their money than to have the government take it away, waste half on bureacracy, then give it back to them under various conditions. Most poor people would also prefer the rich not to get handouts.



Why shouldn't they get hand outs?  Such as first home buyers, family payments or baby bonus?



i'd luuuv to hear your justification as to Why they should dt........... Roll Eyes


I think you will find my post contained questions to freediver - perhaps you could encourage him to participate.  He generally ignores the tough questions as he does not appear to wish to support his own view after posting it.
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Re: Rich get big tax breaks
Reply #9 - Apr 6th, 2008 at 11:39pm
 
Sprintcyclist wrote on Apr 5th, 2008 at 3:20pm:
rich people contribute more toward society



What context are you refering their contribution as being more? In dollar ($$$) terms or participation in society? You say that the rich contribute more to society. I would say otherwise.

I'm quite sure that if the rich were not taxed (not likely) society will survive (although a little poorer). The taxes from the rich do not hold up society. Society holds up the rich because this is where they derive their wealth from.

The sliding tax scale system is based on equal distribution of wealth. It is based on the benefits that one has obtained from society whether as an individual or a corporate entity. The greater benefits one derives from society the greater debt of graititude one must return back to society. Therefore, the richer you are the more you have to pay back. The more successful your business is the higher the corporate tax you pay.

The rich gets their wealth from the businesses they own. The business generate the wealth from the services and products they provide or produce. The non-rich work within the machinations of the business to generate the company profit and therefore the owner's wealth.

Society is a symbiant organism. Both rely on each other to exist and to generate wealth. Neither contribute "more" to society than the other.

However, if you are talking about absolute dollar contributions; I suspect that the dollar figure of the total and combined tax contribution of the top 2% of income earners will be lower when compared to the total of the lower 98%.


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deepthought
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Re: Rich get big tax breaks
Reply #10 - Apr 7th, 2008 at 7:48am
 
Acid Monkey wrote on Apr 6th, 2008 at 11:39pm:
Sprintcyclist wrote on Apr 5th, 2008 at 3:20pm:
rich people contribute more toward society



What context are you refering their contribution as being more? In dollar ($$$) terms or participation in society? You say that the rich contribute more to society. I would say otherwise.

I'm quite sure that if the rich were not taxed (not likely) society will survive (although a little poorer). The taxes from the rich do not hold up society. Society holds up the rich because this is where they derive their wealth from.

The sliding tax scale system is based on equal distribution of wealth. It is based on the benefits that one has obtained from society whether as an individual or a corporate entity. The greater benefits one derives from society the greater debt of graititude one must return back to society. Therefore, the richer you are the more you have to pay back. The more successful your business is the higher the corporate tax you pay.

The rich gets their wealth from the businesses they own. The business generate the wealth from the services and products they provide or produce. The non-rich work within the machinations of the business to generate the company profit and therefore the owner's wealth.

Society is a symbiant organism. Both rely on each other to exist and to generate wealth. Neither contribute "more" to society than the other.

However, if you are talking about absolute dollar contributions; I suspect that the dollar figure of the total and combined tax contribution of the top 2% of income earners will be lower when compared to the total of the lower 98%.




Could you make it any smaller?  How about the top .0001% of income earners just to be sure?
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