The standard lefty cry when tax reform is discussed is “raise the top marginal tax rate, raise the company tax rate, and DON’T YOU DARE RAISE THE GST”…
[But] in simple terms, taxing profits can be a disincentive to create new jobs through investment, and taxing incomes can be a disincentive for people with the most highly-priced skills to take on additional work…
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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