If Space X was Australian every single one of those employees would be taxed at 47%! Their reward for taking the risk and the effort to becoming successful!
Fortunately for them they arenโt in Australia.
The Australian Labor Gov thinks itโs their right to this money! 47% of $2T certainly pays off their $1T debt bill pretty quickly!
Unfortunately for them Australia will never have a Space X and the gov will miss out of 23.5% of any CGT that would have come in to pay off the debt!
Time to leave Australia any aspiring entrepreneurs
@GeoffWilsonWAM
Was told I couldn't share the Zanger Newsletter study tool..
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@endozduopoly Same here. What doesnโt get mentioned is that we had to invest in shares for over a decade to build our deposit to buy the house. We were lucky to get the CGT discount when we sold those shares.
@GreenTyler27 Well now Aaron wonโt be able to buy his own house at 55 because he wonโt be able to invest without the greedy Labour socialists and Albo taking 47% of any investment returns, while inflation eats away the rest of those returns.
Yes, the United States has the most progressive tax system in the world. The top 1% pay 40% of taxes, the bottom 50% pay 3% of taxes. We can make it even more progressive by zeroing out taxes on the bottom half. Itโs a small amount of the total tax revenue but very meaningful to people in this group.