Australia Committing Economic Suicide – Turning Hard Left
March 28, 2021
The Greens in Australia want to tax Billionaires 6% Wealth Tax annually (in addition to INCOME) as a property tax on everything this own from art right down to the watch they wear. They claim it will raise $11.2 billion over its first two years, it will cost the Australian Tax Office an extra $110 million to implement the policy and enforce compliance. But it does not stop there. It would apply to Australians who hold more than $1 billion in assets, no matter where they live, and non-residents who hold Australian assets worth more than $1 billion. Therefore, you can see how stupid these people are for they assume those they target would just remain in Australia and that foreign investment would certainly abandon Australia. This is on top of income taxes, and property taxes that already are in place.
https://www.armstrongeconomics.com/world-news/taxes/australia-committing-economic-suicide-turning-hard-left/
Re:
Greens target super-rich with $40b billionaires’ wealth tax
March 27, 2021
https://www.smh.com.au/politics/federal/greens-target-super-rich-with-40b-billionaires-wealth-tax-20210325-p57dxo.html