Great article, Steve. I remember reading a related, insane statistic many years ago that something like 80% of the taxes in Australia cost more to administer than they collect in revenue. So the government COULD slash taxes, slash red tape, lower prices, reduce inflation, increase productivity AND improve government's own financial position, all by axing these ridiculous taxes. But they will not.
Great article, Steve. I remember reading a related, insane statistic many years ago that something like 80% of the taxes in Australia cost more to administer than they collect in revenue. So the government COULD slash taxes, slash red tape, lower prices, reduce inflation, increase productivity AND improve government's own financial position, all by axing these ridiculous taxes. But they will not.
Great article, Steve. I remember reading a related, insane statistic many years ago that something like 80% of the taxes in Australia cost more to administer than they collect in revenue. So the government COULD slash taxes, slash red tape, lower prices, reduce inflation, increase productivity AND improve government's own financial position, all by axing these ridiculous taxes. But they will not.
Yes, it's ridiculous that the Henry Tax Review has been sitting on a shelf for 15 years!
It's more ridiculous the final report said there were 125 taxes, but didn't list them.