How Australia’s tax system subsidises wealth over work
How Australia’s tax system subsidises wealth over work
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Jeff Oughton, 69, cannot understand why people aged in their 20s and 30s are not noisily protesting with placards to demand a better tax deal for working-age people.
“I don’t know why young people aren’t marching in the streets,” says Oughton, a retired bank economist.
“Rich people like me who stopped working at 53 and have been wandering the world travelling and volunteering, their tax rates in retirement are effectively zero.