Generally, I’m impressed with the Pirate economic, tax and welfare reform policy. I think it’s progressive and far sighted and i think UBI is the future of all advanced economies and perhaps the world (if we’re not overcome by climate catastrophe…or Trump).
However, i don’t understand why you’d lower the highest tax rate. Is it just to maintain the cleanness of 37.5% across the board? An individual earning $1 million a year will benefit under this policy significantly and it just seems to me odd that this is deemed as desirable. Or is the policy aimed at attracting wealthy voters?
What about people who earn $10 million a year? Or people that earn $100 million a year?
I doubt the Australian public would care if earnings over a million cost the individual at least 50% in tax.
Given that the economic reform needs to make up $30 billion, i’m curious as to why the top end isnt being asked to tip in a bit more.
ps…i’m not an economist so i may be missing something obvious.