57
Richest super balances to be taxed at higher rates after Greens agree to back Labor plan
(www.theguardian.com)
this post was submitted on 10 Mar 2026
57 points (98.3% liked)
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No, taxing wealth and assets isn’t the answer. People shouldn’t be punished simply for being successful and owning things.
Your last point is - making corporations actually pay taxes. No more Apple Australia buying iPhones from Apple Scotland for the exact same price they sell them to customers for, meaning no profit in Australia, for example. No more mining giants paying nothing to literally sell the ground out from under us.
Income tax should be abolished, and instead make it spending/usage based. Spend more pay more.
The only thing I agree with “taxing the rich” for is fines - they should be percentage based. $1000 for your passenger having their seatbelt slightly off hurts someone earning $60k a lot more than it hurts someone earning $600k.
It's not punishment for being wealthy, it's giving back to the community that helps you live in luxury. The taxes won't send them broke, or make a big dent in their savings.
And I agree with the fines. Should be a minimum plus a percentage of your last financial year's income.
It is punishment. The wealthy already “give back” far more than the rest of the population in terms of tax.
It’s just pure jealousy.