When I debated Judith Sloan recently she stated that if we increased the average tax rate on the top 1 per cent of income earners to 75 per cent it would only collect "$20-30 million" and that there was no point talking about taxing the wealthy as it would raise "peanuts"....I bet her a bottle of the best wine i could find that such a tax would collect "bucket loads" more cash than that...in fact, we estimate that it would collect more than $12.6 billion, less if the rich move offshore en mass but even still, far more than "$20-30 million"...one of us is completely wrong...we will publish our calculations soon, and i hope my wine comes even sooner, but in the mean time check out the exchange that starts at 01:11:36.
Posted on: Wed, 10 Jul 2013 06:55:31 +0000
Trending Topics
Recently Viewed Topics
© 2015