Advertisement
Australia’s income tax system is a scam.
Despite real wages in Australia collapsing to late 2011 levels and not forecast to rebound by 2028:
The amount of income tax paid has risen inexorably as nominal wage growth pushes people into higher tax brackets, raising their average tax rates.
Advertisement
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.
Advertisement