Leith van Onselen comments on Alan Kohler’s support for a proposed debt levy:<\/p>\n
\nThe first best solution is to shift Australia\u2019s tax base away from productive enterprise (both individuals and companies) towards more efficient sources, such as land, resources and consumption. According to the Henry Tax Review, the marginal excess burden (i.e. the loss in consumer welfare relative to the net gain in government revenue) from the GST is just 8%, whereas it is near zero for taxes on land and resources. They also compare very favourably against the two biggest current sources of tax revenue \u2013 personal income tax (24% marginal excess burden) and company taxes (40% marginal excess burden) \u2013 offering the nation large productivity pay-offs from fundamental tax reform.<\/p>\n<\/blockquote>\n
Read more at No Mr Kohler, more income tax is not the answer | | MacroBusiness<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"
Leith van Onselen comments on Alan Kohler’s support for a proposed debt levy: The first best solution is to shift Australia\u2019s tax base away from productive enterprise (both individuals and companies) towards more efficient sources, such as land, resources and consumption. According to the Henry Tax Review, the marginal excess burden (i.e. the loss in … <\/p>\n
Continue reading “No Alan, more income tax is not the answer | MacroBusiness”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,5],"tags":[764,802,1631,1800,2065,2937],"class_list":["post-9746","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-economy","tag-company-tax","tag-consumption-tax","tag-gst","tag-income-tax","tag-land-tax","tag-resources-tax"],"yoast_head":"\nNo Alan, more income tax is not the answer | MacroBusiness - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"No Alan, more income tax is not the answer | MacroBusiness - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Leith van Onselen comments on Alan Kohler’s support for a proposed debt levy: The first best solution is to shift Australia\u2019s tax base away from productive enterprise (both individuals and companies) towards more efficient sources, such as land, resources and consumption. 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That left me with the lasting impression that income taxes are inefficient \u2014 both in terms of equity and collection \u2014 and should be levied at low flat rates if they cannot be\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5432,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/09\/12\/raising-taxes-73-of-nothing-is-nothing\/","url_meta":{"origin":9746,"position":1},"title":"Raising taxes: 73% of nothing is nothing","author":"Colin Twiggs","date":"September 12, 2012","format":false,"excerpt":"President Francois Hollande recently increased the top income tax rate in France to 75 percent -- for incomes in excess of \u20ac1 million. This is part of a wider trend with President Obama targeting the wealthy in his election campaign, promising to raise taxes on incomes in excess of $1\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12973,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/03\/13\/axe-negative-gearing-for-a-healthier-property-market-saul-eslake\/","url_meta":{"origin":9746,"position":2},"title":"Axe negative gearing for a healthier property market | Saul Eslake","author":"ColinTwiggs","date":"March 13, 2016","format":false,"excerpt":"Thanks to Ody for posting this on IC forum. I feel it is worth repeating here because of the current debate around negative gearing. Axe negative gearing for a healthier property market Apr 25, 2011: Saul Eslake The property market would look a lot healthier without it, writes Saul Eslake.\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6839,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/02\/in-support-of-land-taxes\/","url_meta":{"origin":9746,"position":3},"title":"In support of land taxes","author":"Colin Twiggs","date":"March 2, 2013","format":false,"excerpt":"Thanks to Alex Fletcher who submitted this as a comment: From a purist point of view I believe Geolibertarianism is the moral philosophy that should guide taxation:- \u201cGeolibertarians are advocates of geoism, which is the position that all natural resources \u2013 most importantly land \u2013 are common assets to which\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8028,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/07\/its-time-to-levy-the-land-naked-capitalism\/","url_meta":{"origin":9746,"position":4},"title":"It\u2019s Time to Levy the Land | naked capitalism","author":"ColinTwiggs","date":"July 7, 2013","format":false,"excerpt":"There are growing calls for increased use of land value taxes to replace income taxes and corporations taxes as a major source of government revenue. Yves Smith points out: Income and sales taxes add to the price of doing business, and hence reduce their supply and competitiveness. Most economists \u2013\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4044,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/11\/bruce-bartlett-how-to-really-simplify-the-tax-code-nytimes-com\/","url_meta":{"origin":9746,"position":5},"title":"Bruce Bartlett: How to Really Simplify the Tax Code – NYTimes.com","author":"Colin Twiggs","date":"April 11, 2012","format":false,"excerpt":"BRUCE BARTLETT: Prof. Michael Graetz of Columbia Law School has proposed what I believe is a MacArthur-like solution to tax reform. He would abolish the income tax for the vast bulk of Americans and replace the revenue with a 12.5 percent value-added tax. People would pay their taxes when they\u2026","rel":"","context":"In "Financial Planning"","block_context":{"text":"Financial Planning","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/other\/financial-planning\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/9746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=9746"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/9746\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=9746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=9746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=9746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}