It would be progressive: You would only pay 30c on every dollar earnt over 60K. As scrymarch pointed out, an individual can have money companies, so can spread their tax liability that way too and avoid tax.
Another reason to try and derive the dispossesive is to find the upper boundary of the state. The Australian government has been
constantly growing in size under Howard
.
I will put together something which compares this style of tax model to the existing one to determine if they differ much in revenue. I just had a glance at the 2002/2003 report, and the data isnt really presented in a way that I can do that quickly and easily.
On the issue of Negative Income Tax, I would prefer the government didnt take it in the first place. Having taxation not start until an individual reaches the top half of all income would remove much of the regressive nature of our tax system.
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