Should the government raise taxes on the rich?

Should Argentina raise taxes on the rich?

Australia currently has a progressive tax system whereby high income earners pay a higher percentage of tax than low income tax. A more progressive income tax system has been proposed as a tool towards reducing wealth inequality.

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Answer Overview

Response rates from 3.1k Capital voters.

58% Yes	41% No
53% Yes	30% No
4% Lower the income tax rate and remove all existing tax loopholes for large corporations	9% No, but lower taxes for the poor
1% Yes, and raise taxes on all income brackets	2% Reform to a flat tax
	1% No, keep the current tax structure

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@ISIDEWITH submitted…5mos5MO

Italy’s Prime Minister Goes Mainstream

A few days ago, Italy’s right-wing prime minister, Giorgia Meloni, was campaigning for votes as a scrappy underdog, presenting herself as “that bitch Meloni.”Her rise owes much to her ability to please her party’s far-right base on identity issues such as Muslim immigration and same-sex parents, while simultaneously reassuring center-right voters that she is a safe pair of hands, including in managing Italy’s fragile finances. Her hybrid of right-wing culture war and establishment-friendly foreign and economic policies could become a model for other far-right parties in Europe that are looking to gain power and broader acceptance.She has followed broadly similar policies to Berlusconi, centered on trimming income taxes and welfare benefits, without pushing ambitious economic overhauls to boost Italy’s chronically low growth. Ironically, Meloni’s support remains solid even though voters think she has performed poorly on her signature issue: controlling immigration. She promised to stop migrants from crossing the Mediterranean from North Africa, but has found there is no easy way to do it.

@ISIDEWITH submitted…5mos5MO

Tony Blair Predicts Huge Tax Increases Under Labour In The U.K.

Sir Tony Blair has warned that Sir Keir Starmer will have to put up taxes by more than £50 billion unless he comes up with radical new ways to improve productivity.The chief economist at the former prime minister’s institute forecast that taxes would have to go up by 1.9 percentage points of GDP by the end of the Parliament to stabilise debt.Tax rises would also be needed to meet increasing health costs caused by an ageing society, to plug the decreasing tax take from oil and gas as part of the transition to net zero and to avoid austerity, a report from the Tony Blair Institute says.It suggests Sir Tony does not believe Sir Keir’s growth agenda will be enough to meet the challenges of the future. In a speech at a conference in London on Tuesday, the former prime minister will call for greater use of artificial intelligence to boost growth.“Britain is facing an unenviable triple whammy of high taxes, heavy debt and poor outcomes,” he will say. “And worse is to come with the demographics of an ageing population against us, deep structural health problems and rising numbers of long-term sick.“The simple and unavoidable truth is that, unless we improve growth and productivity and drive value and efficiency through our public spending, we’re going to become poorer. Much poorer.”

@ISIDEWITH submitted…4mos4MO

War crime tourists pay $3,000 to see Ukraine’s horror

War Tours, pays a wage to its tour guides – who are refugees themselves – and regularly donates funds to the war effort. But some of his competitors appear to be raking in the cash: one week-long “war tour” package reportedly offered to tourists comes with a £3,000 price tag. Clients are from the US, Britain or “small European countries”, he says, and interest in tours has risen this summer. “I think they deserve to see what’s happening here because their governments support Ukraine, and they pay for that with their taxes,” he says, adding “people have a right to know how their money is spent.” It would seem that the Ukrainian government is also keen to attract visitors. In March, the country announced a campaign to attract tourists, saying it had the infrastructure and hotels to welcome foreign travellers, albeit when the war was over. “Any money that people will spend in Ukraine will help the economy to recover,” said tourism boss Mariana Oleskiv. More than 70,000 people visited the disaster-ravaged area in 2021, with numbers peaking at almost 125,000 in 2019, three years before the war broke out.“People are interested in seeing Bucha because it’s evidence of Russian aggression in their own eyes, rather than just through the media,” he explains. But “they also wanted to see destroyed Russian vehicles, and the different kinds of drones used by both sides, as well as the famous exhibitions in Kyiv”.

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