@@deadspeedv royalties are not taxes and whatever she pays is on the profit she got out of the stuff she digs out of the ground that should be owned by the Australian people.
@@MP-dm1og My figure was her income tax, not royalties. Income tax is paid to ATO. Royalties are paid for state government, so it will be a different figure and that $1.078 billion was income tax only.
Health care in Australia is not free. Every day there is less and less bulk billing, which means that even though you pay taxes for Medicare, you still have to pay a co-payment if you go to the doctor. People wait for years at the hospital because the waiting lists are too long. Only those who pay for private health insurance do not wait, even though their surgery's are performed in state and not private hospitals. The system is totally screwed up.
And you’d think after the pandemic these muppets would address the issues in health across Australia. Elective surgeries’ waiting lists have been building up here in Victoria.
@@nigelliam153 You are kidding right? I lived in the USA and can tell you that leaving it up to private health insurance is a death sentence to a lot of people.
@@nigelliam153 yes...I remember in 1982. HBF unrolled red carpet to patients...better doctors a all....Bob Crook fucked all up to create one more trough
Mate nobody REALLY has a problem paying taxes. What we have a MAJOR problem with, is the mismanagement of it. When you pay a plumber or a bricklayer to do a job you want the job done right, within specs, on time and on budget and no bullshit. Expecting that from your govt is the same thing. It’s that simple.
The problem isn't taxation. The problem is the way that money is spent and the people spending it. With a subscription service we know exactly what we're getting for our money. With taxes we don't know what we're getting or the option to opt out.
That's because it's not lol. If I earn $1M a year taxed at 45%, I'll owe the gov 450k/year, in comparison the guy next door earning 60k/year will be paying maybe 5k to 10k/year max but if any of us two fall ill, we'll be provided with the exact same service. It's like having a Spotify subscription that scales based on your income. You earn 1M/year? Here is a 1k/month subscription for you, you earn 60k? Here is a $60/month subscription for you lol. Imagine everything in life was scaling based on your income like taxes, there would be no incentive for you to work harder to earn more. I'm not saying taxes are bad, they are needed to a certain extent, but when, for example, in Australia you can quickly top up at 47% (it becomes pointless to talk tax brackets when you are way above the max bracket, everything below the max tax bracket becomes insignificant) then you have all the incentives in the world to reduce that burden. @punterpolitics
That asian girl was an American. The same as you are probably Australian. Her ancestral background could be Inuit for all we know. We teach nothing about taxation in the education system unless you specialize later on, so why should she understand. She got more teaching in 5 minutes than in her entire school career and she did develop an understanding.
@@punterspolitics there’s many metaphors that work better for the extortion you are describing. The mafia charging you money to fix the problems they themselves created. A psychopath charging people money to give the people he crippled a old wheelchair. I can go on and on.
When I was young I hated taxes; no one explained them as services provided by society, which I assumed “just was”. Now as I have gotten older, I am ok with paying taxes and keeping national services out of the hands of private companies. Thanks for the great discussion.
So, in Ausralia, what benefits do you get for your taxes. You get a police force which attack you for not wearing a mask, while protecting violent pro-palestinian protesters, you get an immigration policy that drives an inflationary housing market, you get high-priced, unreliable electricity, and Australians who were born here are becomming homeless. Meanwhile the politicians buy 2 new brand new fossil fuel powered private 373 jets, and the highest year-on-year pay rise in Australia's history. Tax isn't a subscription servie, you don't get a choice.
@@CharGorilla Don't be naive; you'd be the first person to call the cops if something you value was damaged or stolen. You'd be the first person to call an ambulance if you or someone you cared for was sick; if there was a fire, you'd be crying out for the fire brigade to save your possessions! The 'subscription' is controlled by voting - something you seem to have forgotten about. One thing we do agree on though - politiicians seem summarily able to manage monetary distribution effectively.
@@NeilMendhamthose corrupt politicians who get early retirement and pensions far exceeding my yearly wages and when their time is up they work in the corporate sector racking in the cash. I parked my all my crypto in Cyprus. F#ck the ATO what did this government offer me? Soon you will be paying land taxes.
Police make enough money out of motorist. A quick google search will say NSW expects to collect $682 million in fines this year! FO!!! It’s that enough?
I've always been pro tax. I never understood why ppl didn't see that 'taxation without representation' is a cry for public amenity and a say in that amenity .. I gues these millionair kids think they're better by virtue of the sperm that made em
People would not be so against paying taxes within reasonable ranges (5-20%) if those funds were used to improve major aspects such as health and safety. However, due to a significant incentive within government departments to max out their entire budgets so that next year's budget could be increased, we end in a cycle where money is wasted on really stupid things with no end
But the so-called “surplus” Chalmers is talking about is actually savings meant for health and education but they still don’t invest in the essentials.
When I was a young soldier in 2010 it blew my mind, at the end of every FY we would go out into a field and fire all of the ammo left in storage so we got allocated at least the same amount next year. Now as a small business owner I have health and education department people charging in AS WE SPEAK on the 30th of June, spending up to fill the budget, from new computers to months worth of ink and paper. Bureaucracy is poison, the State is the problem.
Hey Punter, I'm curious to get the full story at 15:56. I felt like he might have had a valid point and It seems like he was cut off during this section. Cheers mate.
Wrong no we dont, all taxes are a scam, the money I earn is for sustenance, to keep myself alive, its not 'income' look up the definitions. When we are born we are granted a share of all the gold oil coal gas ect, resources which the gov manage on our behalf, the royalties we are meant to get are going instead to the gov employees pockets, then they force us to 'pay' again from our life sustaining sustenance. We exchange our life force energy for paper credits to buy food clothing shelter...why doesnt the big corporations like Telstra pay tax? Why does itd ceo get $5 million per year ' compensation'? Compensation is not taxed btw...
This is absurd. A subscription service implies you an opt out. Aside from the fact that healthcare and education in Australia are no longer really free, and social security for the unemployed is unlivable (and you're unlikely to qualify for it if you've held a job for most of your life). The other benefits listed, such as having a defense force that can protect you from invaders, then the Australian Armed Forces are woefully inadequate, to the point of being a joke. Our safety relies solely on our tenuious relationship with the US, which our government are trying their hardest to break down. Where do our taxes go, In the middle of a cost of living crisis, and a housing crisis, the Australian government are spending your tax money on immigration programs which drive house prices higher, 2 luxuary 737 Business Jets for ministerial use, and the highest year-on-year pay rise for politicians in Australia's history. If the Australian government were a sbscription service, I'd be cancelling it.
A "subscription service" would be voluntary, and there would also be alternative service providers that compete for business. Taxes are more like a subscription service where there's only one provider that is terrible at managing its finances, and then puts you in jail for not subscribing. Terrible comparison.
I have to agree there. Adding to your analogy, when an opposition government (a subscription service competitor) is offering a product that's just as bad, then you're really screwed. In Australia, I'd want a service which doesn't reward people with tax incentives for messing up our housing market, for eg!
Love the thought provoking dialogue mate!! Just a wee correction regarding health insurance, at min 4:50 you mentioned not paying anything in Aus but in reality you're paying 2% of your gross annual income which could range quite a bit.
Wow as a young adult who is probably going to start paying taxes here in Australia your explanation really did change my understanding/ perspective on taxation.
Outstanding video, great intellectual conversation, highly thought provoking. You certainly belong in the teaching profession when you can educate adults to think laterally.
Great video mate - the algorithm shined on you today to get a tax video in my feed haha. So do digital nomads not pay tax in their home country? Would they have Indonesian bank accounts?
hey thanks for watching! yeah algo gods blessed us! Some pay tax in bali, some are incorporated in Dubai to avoid taxes in their home country. lots of options it seems.
You're still a tax resident in your home country. It's relatively hard to change your tax residency this way because nearly everyong is just renewing tourist visas. Indonesia never considers you a resident.
I'm with green jumper girl. Higher taxes will not reduce corporate infiltration and interference. Pollies do not fall into corporate pockets out of lack of tax money, they do it for perks because they are selfish arseholes. These corporate incentives will exist whether taxes are low or high and the rich will always fond ways to funnel and embezzle tax money for their own benefit. Higher taxes do not necessarily mean money for the people (healthcare, education, infrastructure etc.), in many cases it results in the opposite. Higher taxes are great in theory, almost never in practice.
If there was a way "reduce corporate infiltration and interference" it would be to increase political salaries, to introduce publicly funded political campaigns and to strictly control and fully disclose all political lobbying. This would attract high quality candidates with less inclination towards using graft and corruption to supplement their pay packets, reduce the corporate/big money influence and set the grounds for a much better and fairer democracy!
Plenty of Australian citizens were locked out of Australia for more than 2 years with No support but forced to pay taxes. No one owes their country anything. Medicare in Australia is payed as a separate item within your taxes, around 1.5%. Majority of countries are wasting billions of taxpayers money, In Australia there is No need for government VIP jets or chauffeured limousines, as a simple example of waste. Welfare is too easy, No one should be taxed for money earned outside their country, ie, if an Australian citizen has assets overseas they should Not pay any taxes to the Australian government on those assets. University should be means tested and only those who are poor and do a degree in a STEM subject should Not pay. Maximum personal tax and business taxes must be No higher than in Singapore and must be inflation indexed.
Subscription service are usually voluntary, whereas taxation is involuntary and refusal of payment is enforced with the threat of violence or imprisonment
I think this kinda demonstrates that no one actually hates tax, they just assume that they will pay tax and not get much for it or that it'll be spent inefficiently.
This needs a rethink. As Punter’s other videos have shown, a significant portion of the costs of running the country can be supplied by proper taxation on resources leaving the country. Government-as-a-service (conceptually following the ‘subscription’ model) should be significantly or totally self funded. Government has the monopoly on resources, Crown land, etc., it could be entirely self-funded just as the Crown estate now makes a large portion of UK revenue and out of that a microscopic amount is set aside as the Privy Purse. This is were a private estate funds a government, gets a tiny amount for its own upkeep, and then puts up with the lie it’s taxpayer funded. We could do the same with Cubby Station and seize their estate. Second point is that taxation is taking some hours out your life every day to pay administrators to give some of it back to you. Then you do this again as you dollar goes to the next transaction, and the next, and the next. This takes productivity transfers it to costly non-productive administration and then repeats the seizer of hours of your life and the loss of value of that dollar. If taxation were dropped what would the now retained wealth and productive hours do? Disappear or turbocharge the economy and drive up the value of the resources we could be taxing? Furthermore, Crown minerals and fossil fuels are free to miners! Deciding to pay tax or not on something already given away for free is kinda worrying about selling the horse after it has bolted. Remember these ideas are only mocked by those getting paid to keep the minerals free and you poor.
Dont know what doctor youre seeing but I have paid every time I see one. (Thank goodness I dont have to go often) 😊 Also as a Brit who lived there for 25 years the NSH might be free but it is shocking and people die waiting. You have to phone at 0800 every single morning until you get an appointment, you cant book an appointment for next week as an example. What about the rich counties who dont pay income tax? Does this not show we do not need to pay the high taxes? Qatar as an example? You touched on them previously..
The one thing that was not mentioned by punter politics in his whole argument for taxes was that he seems to be assuming that the government is efficient at distributing and controlling the monetary flows from these taxes. Which clearly there not... taxes are "great" if we have an efficient government, then everyone benefits, if not then our tax dollars are funneled/bleed to large private corporations with powerful lobbies etc. You already did a video on the "golden stairway" or what ever from memory.... If lobbing governments/political parties with donations was illegal the world would be a better place....
of course he doesn’t mention any of the $450,000,000 tax payers coin blown on the voice, or the $1 billion given to ukraine or the millions of dollars on private jets and com car trave costs. Or the high inflationary period we are all dealing with thanks to the mishandling of the “pandemic” and pfizer’s profits.
I don't have a problem paying taxes. If you pay more taxes, that means you're earning more. Problem is what some of the things taxes get spent on, I'm not so keen. Modern necessities should be public owned and supported. Education, energy, medical, policing, roads, water, social security, banking, communication. etc.
Maybe you should do an analysis of the total taxes paid in Australia and where the money is going. Whenever government is involved there seems to be a lot of waste which seems to be picked up by the taxpayers hard work. If government and taxes was kept to a minimum, let the market sort things out and let people have more money in their pocket to do whatever they wish would be great for freedom.
while i get the point of this video, it’s very misleading about the nature of federal government spending and taxes. repeat after me: “federal spending happens before taxation”. “taxes and borrowing DO NOT pay for federal spending” “the federal government doesn’t need to finance its spending” sounds counterintuitive, but the federal governments of Australia, UK, USA, Canada, Japan,… can never run out of their own currency, the fact that they borrow (issue bonds) is a choice and constraint their (neoliberal) federal politicians choose to impose on themselves. but they can never ever be forced into a default position on any debt denominated in their own currency? so what’s the point of taxes if the feds can spend with gay abandon? well i never said they can spend with gay abandon! their are economic limits to the “fiscal space”, even of a monetary sovereign. the most obvious limit on spending is the risk of building inflationary pressure. the fiscal space is much larger than orthodox economists will ever let on, but there are limits. taxation may serve any of several goals. a nonnegotiable demand for the currency. (well non-negotiable for folks like you and me anyhow). this is a means of harnessing the wealth and resources of the nation to the federal government and their policy agenda. it goes like this: 1) demand for the currency to pay our taxes means as a population we need to work for the government or sell things to the government or trade with others who are doing something for the government simply to get our hands on enough of their currency to fulfil our tax obligations. 2) this effectively anchors the value of the currency to a fixed demand so that the next time the government goes to spend on something for the national, the currency has value and can get the job done. 3) when the feds spend into the economy it generally creates economic activity, and real demand on real resources. unlike money, real resources are finite and extracting/using resources comes with time and energy constraints. people get employed to do the job for the government and they then spend into other parts of the consumer economy. taxation pulls some of the total stock of money slushing around in the economy out of the economy to reduce inflationary pressure building up. 4) wealth redistribution. we don’t have very progressive tax in Austrlaia and it’s even worse in places like the UK and USA, but to the extent that richer people pay more tax and poorer people pay less tax via the progressive tax bracket system income tax is wealth redistribution to the poor from the rich (in effect not directly). GST and other federal levies that are flat fees without discounts for concessions etc are regressive. they distribute wealth from the poor to the rich (effectively when you do the math). 5) carrot and stick. when we tax social harms like smoking and GHG emissions (oh, we still don’t after 40 years of climate debate!) it can nudge human behaviors. but it can also be regressive if poor people can’t avoid it (say they have shit PT in their area so drive a car everywhere) to understand better watch the film Finding the Money. it will be streaming here soon or you might make a special community organised screening of it in a cinema. also read The Deficit Myth by Stephanie Kelton or goto any reputable Modern Monetary Theory (MMT) website (like #ActivistMMT or Modern Money Lab or Warren Mosler’s website or bill mitchell’s website. or soon after we launch it, the Understanding MMT website.
People living in California pay federal and state tax’s that are higher than Australia’s combined. Check it out. More tax does not mean better services. Biggest tax is inflation, the hidden tax. Even higher than Norway when you combine state and federal tax’s. California is 50.3% for the highest tax bracket. Norway 49.1%. Australia 45% See citation below. California: • California has a progressive income tax system with rates ranging from 1% to 13.3%, depending on income levels. This is in addition to the federal income tax, which ranges from 10% to 37%. • California also has a personal income tax, which is one of the highest in the United States. • Norway: • Norway also has a progressive income tax system, with rates that include both a municipal tax (around 22%) and a national tax. The combined income tax rates range from about 27% to 48% depending on income. • Norway also imposes a wealth tax of up to 1.1% on net wealth exceeding certain thresholds.
I did the digital nomad thing a bit prior to Covid. It's hard to minimise tax that way because you move around too much to change your tax residency. If you do stay in one place long enough, you're not really a nomad, that's just being an expat. In Bali just about everyone is on a tourist visa and they do visa runs. So you remain a tax resident back home even if you're there for years. If people are going to Bali and not paying tax then that sounds a lot like criminal tax evasion to me. I'm definitely not a lawyer but that's what it sounds like.
In defence of the bali nomads, they are not avoiding taxes by being in bali (technically). In most cases they are no longer tax residents of their home country, preferring bali, and their income is typically sourced in the country they run their laptop from (again, bali). In this situation, bali has sovereign taxing rights over these nomads. Bali may, or may not, choose to tax them...
It seems main push back against taxes is that the main pushback against taxes is that the economy is undemocratic. Why not have a direct democratic process that runs parallel to the elections where the public set the tax rates across the board and set a budget for the government across sectors (e.g. health, defence, agriculture etc) - representatives would then campaign on how they would use the budget they have been allocated?
I saw some of the content on Facebook and you called for more subs on other platforms so I came and subbed. You should do a mailing list too just incase. I love your work.
Talking up Medicare when public health systems are underfunded and elective surgery waiting lists are piling up and bulk billing is affecting GPs because different actions by consecutive governments - the Coalition hates Medicare and Labor isn’t fixing serious structural issues. And then there those missing hospitals in rural and regional areas. And now Jacinta Allan wants to “streamline” our hospital system.
Governments don't need more money to stop corporations from lobbying, they need more integrity and efficiency. The American government broke up Standard Oil over a hundred years ago before income tax was even introduced. If they can have this level of control over a corporation of this level with minimal tax revenue back in 1911 then they can do it today with the record tax revenue they've accrued over the years.
Nothing wrong with taxes if they dont waste the money and all if it comes back to infrastructure and public services. Unfortunately that is not the case as the government fails their own audits and billions go missing each year. I bet you it is in their pockets and the pockets of their rich donors. We don't need to lower taxes, we just need 100% government transparency.
The Aged Pension plus the NDIS costs $115 billion a year in Australia, why don’t we have a Future Fund for it like Government super? The government either has to make its own money or let private companies in. Or raise taxes. Tax is only one cost for Australian business.
That one guy is exactly how i feel. If taxes where reasonable and didnt fuck our economy and was managed well and went to good things id be fine with it. Not to mention letting all the mega corps pay no tax is just another kick in the guts with it. Im also not sure id call the publich health sector a "great" subscription services.. its better than america for sure.
The subscription analogy is a bit off bc with a subscription everyone pays the same amount. I pay taxes, but it hurts, because It just feels like my taxes don't do anything, big corprates getting away with so much
@@coopsnz1 Wrong, 90% of Singaporeans are home owners. Just because it's public housing doesn't mean it's bad, for Singapore it's the sign of an efficient use of tax dollars to lower the cost of housing for citizens.
Government lets multinationals operate tax free, I believe Kerry Packer said it best when fronting a government enquiry on “tax avoidance”, where he stated the government doesn’t use the money it gets wisely enough for him to contribute any more than he has too. Tax avoidance is one thing. Tax minimisation, totally different and legal. If Australia wasn’t adding more and more taxes on a daily basis, people probably wouldn’t care about trying to avoid it. Hell, if I knew how to avoid paying it, I certainly wouldn’t either!!!
The biggest problem is when the tax system is misused by the elite and oligarchs who demand the best but don't want to pay their way for it. Compare with Norway. Highest taxed in the world but the social infrastructure is outstanding. Is more geared to "Let's make the system better for everyone." rather than "What can we get away with that won't interfere with making elite life better?" If top US earners were taxed at 1% America would have a chance of eventually paying their national debt.
When I pay taxes, I should get option to choose where that money should be spent like infrastructure, medicare primary and secondary education. Not for freeloaders.
Majority of out taxes go to welfare (mainly pensions) and healthcare (mainly for old people), old people also own the vast majority of the wealth (via housing) - so why the f are young people expected to pick up the tab?
The more you earn, the more taxes sting. The more you see opportunities for getting more value for your money and goals elsewhere, the more it makes sense to avoid taxes. Australia has mostly good value to provide for the taxes taken. In some countries it might not seem worth it.
The issue is people in the government can choose how much they get paid, the benefits, and there's loopholes such as paying secretary money to their wives etc. New Zealand has anti corruption meetings, other countries should do the same and people would have more faith their money isn't lining the pockets of politicians who disobey their own lockdown rules and chat with WEF and Russian Oligarchs behind the scenes.
I think the American was right about the taxes not going to the proper institutions to support the people. I heard the taxes don’t even cover the interest needed to pay back the national debt. That’s because the governments borrowed money from the federal reserve banks or central banks by selling treasury bonds ( IOUs). To pay for infrastructure, services and amenities. Then they have to pay it back plus interest. A bit like pyramid scheme from a loan shark, it can never be repaid because of the compounding interest. Interest is basically a hidden tax on the people, filtering money from the taxpayers to the private sectors. Central banks are not part of the government.
Healthcare and Defence are definitely worth paying tax for, I hate tho when you hear about billions that could be spent here going overseas or to companies being bailed out etc.
If the government can print money, why do we need to pay taxes? If the government can raise the Debt ceiling and borrow money, why don’t they worry about the interest repayments?
It's amazing how we have all been indoctrinated into this financial regime which includes "inflation" and then on top of that imposes additional fees called "taxes". The difference being that via all the "additional fees" certain small groups gain total control over each and every individual. Whilst inflation as a foundational fee that affects one and all (proportionally to the number of $ one has) clearly doesn't have enough power to give the pollies a tyrannical level of power. Taxes give pollies way too much power over the people. Convince me that this isn't so, please.
Helped me relise I actually don't hate the government. I hate the greedy corrupt career poltions that run it along with some of the control freaks and some genuine goverment over reach but I definitely dislike the goverment and taxes less now then I did before watching this video
Granted we get a lot more value than our American friends, but that slippery slope is rapidly getting steeper and more slippery with one million new migrants every two years accessing the same services and a shrinking economy on a per capita basis. Unless you are on a pension the medicare levy is a 2% of tax of your salary, so that is not nothing, and with high demand for services a lot of surgery will require a big waiting time unless you decide to pay more for private. For now at least it's free for the vulnerable on a pension, and paid for everyone else at a cheaper rate than America. The corporations, superannuation and billionaires get the tax subsidies and tax paid government contracts regardless and continue to pay little tax whilst the wage slaves do
I don't hate taxes... I just hate that i pay more then Gina
And when you look at your "total tax burden" you realise how rigged it is against the working class.
Jesus that's a lot because she paid $1.078 billion in taxes last year
@@deadspeedv royalties are not taxes and whatever she pays is on the profit she got out of the stuff she digs out of the ground that should be owned by the Australian people.
@@MP-dm1og My figure was her income tax, not royalties. Income tax is paid to ATO. Royalties are paid for state government, so it will be a different figure and that $1.078 billion was income tax only.
@@deadspeedvyeah nah, she doesn’t pay taxes!
Well done man! I'm impressed by the responses too! Lot's of smart people there 🙂
Thanks Raman!!
Health care in Australia is not free. Every day there is less and less bulk billing, which means that even though you pay taxes for Medicare, you still have to pay a co-payment if you go to the doctor. People wait for years at the hospital because the waiting lists are too long. Only those who pay for private health insurance do not wait, even though their surgery's are performed in state and not private hospitals. The system is totally screwed up.
Then you live in a town where you can't use your private health as there is no private hospital.
I really loooove paying more tax!
And you’d think after the pandemic these muppets would address the issues in health across Australia. Elective surgeries’ waiting lists have been building up here in Victoria.
We were better off before Medicare when our health insurance covered medical expenses and unemployed got free medical
@@nigelliam153 You are kidding right? I lived in the USA and can tell you that leaving it up to private health insurance is a death sentence to a lot of people.
@@nigelliam153 yes...I remember in 1982. HBF unrolled red carpet to patients...better doctors a all....Bob Crook fucked all up to create one more trough
Mate nobody REALLY has a problem paying taxes. What we have a MAJOR problem with, is the mismanagement of it. When you pay a plumber or a bricklayer to do a job you want the job done right, within specs, on time and on budget and no bullshit. Expecting that from your govt is the same thing. It’s that simple.
TH-camrs and content that celebrate the ability to hold complexity in thinking is so so so refreshing. Thanks Legend.
The problem isn't taxation. The problem is the way that money is spent and the people spending it. With a subscription service we know exactly what we're getting for our money. With taxes we don't know what we're getting or the option to opt out.
Spot on and the elephant in the room is if the subscription service becomes bad value for money, you can leave it!
@@paulwheeler8511 haha exactly! If I could opt out of paying taxes I most certainly would!
Nailed it mate
Dude, nice work. I prefer watching you go after the big guns, but.....nice work balancing the argument and highlighting the issues.
That asian girl not realising that you were describing taxation with your "subscription" analogy, says it all. How did she miss that. Jesus.
Was it a good sell?
It was so painful to watch wasn't?
That's because it's not lol. If I earn $1M a year taxed at 45%, I'll owe the gov 450k/year, in comparison the guy next door earning 60k/year will be paying maybe 5k to 10k/year max but if any of us two fall ill, we'll be provided with the exact same service. It's like having a Spotify subscription that scales based on your income. You earn 1M/year? Here is a 1k/month subscription for you, you earn 60k? Here is a $60/month subscription for you lol.
Imagine everything in life was scaling based on your income like taxes, there would be no incentive for you to work harder to earn more.
I'm not saying taxes are bad, they are needed to a certain extent, but when, for example, in Australia you can quickly top up at 47% (it becomes pointless to talk tax brackets when you are way above the max bracket, everything below the max tax bracket becomes insignificant) then you have all the incentives in the world to reduce that burden.
@punterpolitics
That asian girl was an American. The same as you are probably Australian. Her ancestral background could be Inuit for all we know. We teach nothing about taxation in the education system unless you specialize later on, so why should she understand. She got more teaching in 5 minutes than in her entire school career and she did develop an understanding.
@@Ekami67 why is your time so much more worth to earn 1 million over someone who earns 60k a year?
Taxes as a subscription service, classic that we need the metaphor.
haha! I think it worked!
agreed subscription service is a genius metaphor
It’s not a subscription service if it’s forced on you.
haha yeah a *mandatory subscription service :D @@VitaminaJC
@@punterspolitics there’s many metaphors that work better for the extortion you are describing.
The mafia charging you money to fix the problems they themselves created.
A psychopath charging people money to give the people he crippled a old wheelchair.
I can go on and on.
When I was young I hated taxes; no one explained them as services provided by society, which I assumed “just was”. Now as I have gotten older, I am ok with paying taxes and keeping national services out of the hands of private companies.
Thanks for the great discussion.
So, in Ausralia, what benefits do you get for your taxes. You get a police force which attack you for not wearing a mask, while protecting violent pro-palestinian protesters, you get an immigration policy that drives an inflationary housing market, you get high-priced, unreliable electricity, and Australians who were born here are becomming homeless. Meanwhile the politicians buy 2 new brand new fossil fuel powered private 373 jets, and the highest year-on-year pay rise in Australia's history.
Tax isn't a subscription servie, you don't get a choice.
@@CharGorilla Don't be naive; you'd be the first person to call the cops if something you value was damaged or stolen. You'd be the first person to call an ambulance if you or someone you cared for was sick; if there was a fire, you'd be crying out for the fire brigade to save your possessions! The 'subscription' is controlled by voting - something you seem to have forgotten about. One thing we do agree on though - politiicians seem summarily able to manage monetary distribution effectively.
@@NeilMendhamthose corrupt politicians who get early retirement and pensions far exceeding my yearly wages and when their time is up they work in the corporate sector racking in the cash. I parked my all my crypto in Cyprus. F#ck the ATO what did this government offer me? Soon you will be paying land taxes.
Police make enough money out of motorist. A quick google search will say NSW expects to collect $682 million in fines this year! FO!!! It’s that enough?
I've always been pro tax.
I never understood why ppl didn't see that 'taxation without representation' is a cry for public amenity and a say in that amenity ..
I gues these millionair kids think they're better by virtue of the sperm that made em
People would not be so against paying taxes within reasonable ranges (5-20%) if those funds were used to improve major aspects such as health and safety. However, due to a significant incentive within government departments to max out their entire budgets so that next year's budget could be increased, we end in a cycle where money is wasted on really stupid things with no end
Yeah great points!
But the so-called “surplus” Chalmers is talking about is actually savings meant for health and education but they still don’t invest in the essentials.
@@KryCaNethe surplus is because of inflation and insufficient tax bracket adjustment
When I was a young soldier in 2010 it blew my mind, at the end of every FY we would go out into a field and fire all of the ammo left in storage so we got allocated at least the same amount next year.
Now as a small business owner I have health and education department people charging in AS WE SPEAK on the 30th of June, spending up to fill the budget, from new computers to months worth of ink and paper. Bureaucracy is poison, the State is the problem.
More respect for you with every video mate. The world is missing these intellectual but non-condescending discussions.
fuggin aye
More brilliance from the master! You must have been a wonderful teacher xx
Hey Punter, I'm curious to get the full story at 15:56. I felt like he might have had a valid point and It seems like he was cut off during this section. Cheers mate.
New favorite TH-camr. Great channel and content holy shit
bros on fire
We need taxes to pay for services and infrastructure, but we also need a fair tax system and transparency of how the government spends money.
Now thats a fair fair point! thanks for swinging by!
Wrong no we dont, all taxes are a scam, the money I earn is for sustenance, to keep myself alive, its not 'income' look up the definitions. When we are born we are granted a share of all the gold
oil coal gas ect, resources which the gov manage on our behalf, the royalties we are meant to get are going instead to the gov employees pockets, then they force us to 'pay' again from our life sustaining sustenance. We exchange our life force energy for paper credits to buy food clothing shelter...why doesnt the big corporations like Telstra pay tax? Why does itd ceo get $5 million per year ' compensation'? Compensation is not taxed btw...
Isn’t that why they put out their budgets?
This is absurd. A subscription service implies you an opt out. Aside from the fact that healthcare and education in Australia are no longer really free, and social security for the unemployed is unlivable (and you're unlikely to qualify for it if you've held a job for most of your life).
The other benefits listed, such as having a defense force that can protect you from invaders, then the Australian Armed Forces are woefully inadequate, to the point of being a joke. Our safety relies solely on our tenuious relationship with the US, which our government are trying their hardest to break down.
Where do our taxes go, In the middle of a cost of living crisis, and a housing crisis, the Australian government are spending your tax money on immigration programs which drive house prices higher, 2 luxuary 737 Business Jets for ministerial use, and the highest year-on-year pay rise for politicians in Australia's history.
If the Australian government were a sbscription service, I'd be cancelling it.
If you're unemployed, you don't pay income tax.
Great video its the best way to start talking to others about tax.
the subscription analogy was great for younger demographics.
Funny. This situation in Bali is like the Paul Brothers fiddling around in Puerto Rico
you changed my mind from not subscribing to this channel to completely loving your contents that came wit facts. 100% subcribeddd~!
A "subscription service" would be voluntary, and there would also be alternative service providers that compete for business. Taxes are more like a subscription service where there's only one provider that is terrible at managing its finances, and then puts you in jail for not subscribing. Terrible comparison.
I have to agree there. Adding to your analogy, when an opposition government (a subscription service competitor) is offering a product that's just as bad, then you're really screwed. In Australia, I'd want a service which doesn't reward people with tax incentives for messing up our housing market, for eg!
If you subscribe but your neighbour doesn't, you'd be wishing it was mandatory when their house fire gets closer to your home
Love the thought provoking dialogue mate!! Just a wee correction regarding health insurance, at min 4:50 you mentioned not paying anything in Aus but in reality you're paying 2% of your gross annual income which could range quite a bit.
Wow as a young adult who is probably going to start paying taxes here in Australia your explanation really did change my understanding/ perspective on taxation.
Kerry Packers famous speech on tax is probably the best view out there on this subject.
yep, when he said "If all Australian's are not doing what I'm doing, then you're all getting paid to bloody much" is the best retort ever
Loving the mingling with overseas punters. Come have a chat with us next time you're in Bali!
You friends with the Amy girl….she got a soothing voice👌🏾
She could definitely read me an audiobook!!
@@punterspolitics facts😅
@@punterspolitics Amy was not taxing at all! 😊
Outstanding video, great intellectual conversation, highly thought provoking.
You certainly belong in the teaching profession when you can educate adults to think laterally.
Good arguments of you, punter
Great video mate - the algorithm shined on you today to get a tax video in my feed haha.
So do digital nomads not pay tax in their home country? Would they have Indonesian bank accounts?
hey thanks for watching! yeah algo gods blessed us!
Some pay tax in bali, some are incorporated in Dubai to avoid taxes in their home country. lots of options it seems.
@@punterspolitics lol then they whinge about corporations doing the same thing
You're still a tax resident in your home country. It's relatively hard to change your tax residency this way because nearly everyong is just renewing tourist visas. Indonesia never considers you a resident.
I'm with green jumper girl. Higher taxes will not reduce corporate infiltration and interference. Pollies do not fall into corporate pockets out of lack of tax money, they do it for perks because they are selfish arseholes. These corporate incentives will exist whether taxes are low or high and the rich will always fond ways to funnel and embezzle tax money for their own benefit. Higher taxes do not necessarily mean money for the people (healthcare, education, infrastructure etc.), in many cases it results in the opposite. Higher taxes are great in theory, almost never in practice.
If there was a way "reduce corporate infiltration and interference" it would be to increase political salaries, to introduce publicly funded political campaigns and to strictly control and fully disclose all political lobbying.
This would attract high quality candidates with less inclination towards using graft and corruption to supplement their pay packets, reduce the corporate/big money influence and set the grounds for a much better and fairer democracy!
Collapsing tax revenue rarely has good results...
Oh hey! what a crossover episode at Lost Le Blancs digs.
Great execution of epistemology. Shared this
This is an amazing video. Loved this ❤
Plenty of Australian citizens were locked out of Australia for more than 2 years with No support but forced to pay taxes. No one owes their country anything. Medicare in Australia is payed as a separate item within your taxes, around 1.5%. Majority of countries are wasting billions of taxpayers money, In Australia there is No need for government VIP jets or chauffeured limousines, as a simple example of waste. Welfare is too easy, No one should be taxed for money earned outside their country, ie, if an Australian citizen has assets overseas they should Not pay any taxes to the Australian government on those assets. University should be means tested and only those who are poor and do a degree in a STEM subject should Not pay. Maximum personal tax and business taxes must be No higher than in Singapore and must be inflation indexed.
just increased my tax/patreon to your channel... this is brilliant.. keep it up
Subscription service are usually voluntary, whereas taxation is involuntary and refusal of payment is enforced with the threat of violence or imprisonment
Bardzo dobre interview Konrad!
When I was living in Australia, my "subscription service" was $800 a week.
I think this kinda demonstrates that no one actually hates tax, they just assume that they will pay tax and not get much for it or that it'll be spent inefficiently.
This was very slyly brilliant. Aussies listen UP
I love how this whole video is just a tax write-off holiday!👏
This needs a rethink. As Punter’s other videos have shown, a significant portion of the costs of running the country can be supplied by proper taxation on resources leaving the country. Government-as-a-service (conceptually following the ‘subscription’ model) should be significantly or totally self funded. Government has the monopoly on resources, Crown land, etc., it could be entirely self-funded just as the Crown estate now makes a large portion of UK revenue and out of that a microscopic amount is set aside as the Privy Purse. This is were a private estate funds a government, gets a tiny amount for its own upkeep, and then puts up with the lie it’s taxpayer funded. We could do the same with Cubby Station and seize their estate. Second point is that taxation is taking some hours out your life every day to pay administrators to give some of it back to you. Then you do this again as you dollar goes to the next transaction, and the next, and the next. This takes productivity transfers it to costly non-productive administration and then repeats the seizer of hours of your life and the loss of value of that dollar. If taxation were dropped what would the now retained wealth and productive hours do? Disappear or turbocharge the economy and drive up the value of the resources we could be taxing? Furthermore, Crown minerals and fossil fuels are free to miners! Deciding to pay tax or not on something already given away for free is kinda worrying about selling the horse after it has bolted. Remember these ideas are only mocked by those getting paid to keep the minerals free and you poor.
Dont know what doctor youre seeing but I have paid every time I see one. (Thank goodness I dont have to go often) 😊
Also as a Brit who lived there for 25 years the NSH might be free but it is shocking and people die waiting. You have to phone at 0800 every single morning until you get an appointment, you cant book an appointment for next week as an example.
What about the rich counties who dont pay income tax? Does this not show we do not need to pay the high taxes? Qatar as an example? You touched on them previously..
I like that in Australia most of our politicians come from families who had low to middle incomes.
The one thing that was not mentioned by punter politics in his whole argument for taxes was that he seems to be assuming that the government is efficient at distributing and controlling the monetary flows from these taxes. Which clearly there not... taxes are "great" if we have an efficient government, then everyone benefits, if not then our tax dollars are funneled/bleed to large private corporations with powerful lobbies etc. You already did a video on the "golden stairway" or what ever from memory....
If lobbing governments/political parties with donations was illegal the world would be a better place....
of course he doesn’t mention any of the $450,000,000 tax payers coin blown on the voice, or the $1 billion given to ukraine or the millions of dollars on private jets and com car trave costs. Or the high inflationary period we are all dealing with thanks to the mishandling of the “pandemic” and pfizer’s profits.
Bro, Mining & natural resources royalty to be used to pay for all benefits, like the Middle East
I don't have a problem paying taxes. If you pay more taxes, that means you're earning more. Problem is what some of the things taxes get spent on, I'm not so keen. Modern necessities should be public owned and supported. Education, energy, medical, policing, roads, water, social security, banking, communication. etc.
Maybe you should do an analysis of the total taxes paid in Australia and where the money is going. Whenever government is involved there seems to be a lot of waste which seems to be picked up by the taxpayers hard work.
If government and taxes was kept to a minimum, let the market sort things out and let people have more money in their pocket to do whatever they wish would be great for freedom.
Here before he hits a million subs
geees mate if I hit a mill Ill fly to wherever you are and buy you dinner :D
@@punterspolitics Banff Alberta mate - it's a done deal.
while i get the point of this video, it’s very misleading about the nature of federal government spending and taxes. repeat after me:
“federal spending happens before taxation”.
“taxes and borrowing DO NOT pay for federal spending”
“the federal government doesn’t need to finance its spending”
sounds counterintuitive, but the federal governments of Australia, UK, USA, Canada, Japan,… can never run out of their own currency, the fact that they borrow (issue bonds) is a choice and constraint their (neoliberal) federal politicians choose to impose on themselves. but they can never ever be forced into a default position on any debt denominated in their own currency?
so what’s the point of taxes if the feds can spend with gay abandon? well i never said they can spend with gay abandon! their are economic limits to the “fiscal space”, even of a monetary sovereign. the most obvious limit on spending is the risk of building inflationary pressure. the fiscal space is much larger than orthodox economists will ever let on, but there are limits.
taxation may serve any of several goals.
a nonnegotiable demand for the currency. (well non-negotiable for folks like you and me anyhow). this is a means of harnessing the wealth and resources of the nation to the federal government and their policy agenda. it goes like this:
1) demand for the currency to pay our taxes means as a population we need to work for the government or sell things to the government or trade with others who are doing something for the government simply to get our hands on enough of their currency to fulfil our tax obligations.
2) this effectively anchors the value of the currency to a fixed demand so that the next time the government goes to spend on something for the national, the currency has value and can get the job done.
3) when the feds spend into the economy it generally creates economic activity, and real demand on real resources. unlike money, real resources are finite and extracting/using resources comes with time and energy constraints. people get employed to do the job for the government and they then spend into other parts of the consumer economy. taxation pulls some of the total stock of money slushing around in the economy out of the economy to reduce inflationary pressure building up.
4) wealth redistribution. we don’t have very progressive tax in Austrlaia and it’s even worse in places like the UK and USA, but to the extent that richer people pay more tax and poorer people pay less tax via the progressive tax bracket system income tax is wealth redistribution to the poor from the rich (in effect not directly). GST and other federal levies that are flat fees without discounts for concessions etc are regressive. they distribute wealth from the poor to the rich (effectively when you do the math).
5) carrot and stick. when we tax social harms like smoking and GHG emissions (oh, we still don’t after 40 years of climate debate!) it can nudge human behaviors. but it can also be regressive if poor people can’t avoid it (say they have shit PT in their area so drive a car everywhere)
to understand better watch the film Finding the Money. it will be streaming here soon or you might make a special community organised screening of it in a cinema. also read The Deficit Myth by Stephanie Kelton or goto any reputable Modern Monetary Theory (MMT) website (like #ActivistMMT or Modern Money Lab or Warren Mosler’s website or bill mitchell’s website. or soon after we launch it, the Understanding MMT website.
This is great
Great Content! not rubbish like most content creator in Bali.
hey thanks! Appreciate the view and kind words
People living in California pay federal and state tax’s that are higher than Australia’s combined. Check it out. More tax does not mean better services. Biggest tax is inflation, the hidden tax. Even higher than Norway when you combine state and federal tax’s. California is 50.3% for the highest tax bracket. Norway 49.1%. Australia 45% See citation below.
California:
• California has a progressive income tax system with rates ranging from 1% to 13.3%, depending on income levels. This is in addition to the federal income tax, which ranges from 10% to 37%.
• California also has a personal income tax, which is one of the highest in the United States.
• Norway:
• Norway also has a progressive income tax system, with rates that include both a municipal tax (around 22%) and a national tax. The combined income tax rates range from about 27% to 48% depending on income.
• Norway also imposes a wealth tax of up to 1.1% on net wealth exceeding certain thresholds.
usa doesnt have high excise taxes " duties like australia
you forget to mention we get taxed more if we don't have private health insurance
How can I access the podcast / longer vids?
Ps - loving your work! Keep it up
patreon link in description :)... EDIT: i cant see it in this video but you will find it if you want to :)
20% GST and 0% income tax. Zero subsidies to corporations and tariffs on imports. Job done.
I did the digital nomad thing a bit prior to Covid. It's hard to minimise tax that way because you move around too much to change your tax residency. If you do stay in one place long enough, you're not really a nomad, that's just being an expat. In Bali just about everyone is on a tourist visa and they do visa runs. So you remain a tax resident back home even if you're there for years. If people are going to Bali and not paying tax then that sounds a lot like criminal tax evasion to me. I'm definitely not a lawyer but that's what it sounds like.
In defence of the bali nomads, they are not avoiding taxes by being in bali (technically). In most cases they are no longer tax residents of their home country, preferring bali, and their income is typically sourced in the country they run their laptop from (again, bali). In this situation, bali has sovereign taxing rights over these nomads. Bali may, or may not, choose to tax them...
It seems main push back against taxes is that the main pushback against taxes is that the economy is undemocratic. Why not have a direct democratic process that runs parallel to the elections where the public set the tax rates across the board and set a budget for the government across sectors (e.g. health, defence, agriculture etc) - representatives would then campaign on how they would use the budget they have been allocated?
I saw some of the content on Facebook and you called for more subs on other platforms so I came and subbed. You should do a mailing list too just incase. I love your work.
Talking up Medicare when public health systems are underfunded and elective surgery waiting lists are piling up and bulk billing is affecting GPs because different actions by consecutive governments - the Coalition hates Medicare and Labor isn’t fixing serious structural issues.
And then there those missing hospitals in rural and regional areas.
And now Jacinta Allan wants to “streamline” our hospital system.
Governments don't need more money to stop corporations from lobbying, they need more integrity and efficiency. The American government broke up Standard Oil over a hundred years ago before income tax was even introduced. If they can have this level of control over a corporation of this level with minimal tax revenue back in 1911 then they can do it today with the record tax revenue they've accrued over the years.
Nothing wrong with taxes if they dont waste the money and all if it comes back to infrastructure and public services. Unfortunately that is not the case as the government fails their own audits and billions go missing each year. I bet you it is in their pockets and the pockets of their rich donors. We don't need to lower taxes, we just need 100% government transparency.
what is going on with your microphone? Looks like you ate it !
You did not change my mind, as i already agreed with you on thus topic.😂
The Aged Pension plus the NDIS costs $115 billion a year in Australia, why don’t we have a Future Fund for it like Government super? The government either has to make its own money or let private companies in. Or raise taxes. Tax is only one cost for Australian business.
I think I'm better at spending my money than the government.
5:50 taxes literally effect the Middle Class the most. They pay 40 to 50% in tax while billionaires pay less then that
The problem is taxpayers have no option as to how their money is used for them. More than a third is given to non taxpaying parasites.
That one guy is exactly how i feel. If taxes where reasonable and didnt fuck our economy and was managed well and went to good things id be fine with it. Not to mention letting all the mega corps pay no tax is just another kick in the guts with it.
Im also not sure id call the publich health sector a "great" subscription services.. its better than america for sure.
The subscription analogy is a bit off bc with a subscription everyone pays the same amount.
I pay taxes, but it hurts, because It just feels like my taxes don't do anything, big corprates getting away with so much
This guy is a fucking gun in debating with people.
aw thanks bro! I'll keep practicing
punter how are u soo optimistic and positive
Fantastic video.
I think 25% is a good maximum rate for tax, but if i work harder and more hours the governement takes more. Its not really fair.
If Singapore can do it for less so can any other country
@@eat_ze_bugs in sinagpore 90% live in public hosuing not own homes
@@coopsnz1 Wrong, 90% of Singaporeans are home owners. Just because it's public housing doesn't mean it's bad, for Singapore it's the sign of an efficient use of tax dollars to lower the cost of housing for citizens.
@@eat_ze_bugs studio sold 1.5million singapore $
Mate, you’re good.
Government lets multinationals operate tax free, I believe Kerry Packer said it best when fronting a government enquiry on “tax avoidance”, where he stated the government doesn’t use the money it gets wisely enough for him to contribute any more than he has too. Tax avoidance is one thing. Tax minimisation, totally different and legal. If Australia wasn’t adding more and more taxes on a daily basis, people probably wouldn’t care about trying to avoid it. Hell, if I knew how to avoid paying it, I certainly wouldn’t either!!!
Man. There is so much misinformation in this video.
Begin the debunk below, here for it!
he claims capitalism shrinks middle class when franchise owners are in middle class bankrupt by government under labor 3000 closed
Such a great way of explaining taxation
The biggest problem is when the tax system is misused by the elite and oligarchs who demand the best but don't want to pay their way for it. Compare with Norway. Highest taxed in the world but the social infrastructure is outstanding. Is more geared to "Let's make the system better for everyone." rather than "What can we get away with that won't interfere with making elite life better?"
If top US earners were taxed at 1% America would have a chance of eventually paying their national debt.
When I pay taxes, I should get option to choose where that money should be spent like infrastructure, medicare primary and secondary education. Not for freeloaders.
Free free free, that’s taxes! Your right on top of it champ🙄
Majority of out taxes go to welfare (mainly pensions) and healthcare (mainly for old people), old people also own the vast majority of the wealth (via housing) - so why the f are young people expected to pick up the tab?
The more you earn, the more taxes sting. The more you see opportunities for getting more value for your money and goals elsewhere, the more it makes sense to avoid taxes. Australia has mostly good value to provide for the taxes taken. In some countries it might not seem worth it.
The issue is people in the government can choose how much they get paid, the benefits, and there's loopholes such as paying secretary money to their wives etc. New Zealand has anti corruption meetings, other countries should do the same and people would have more faith their money isn't lining the pockets of politicians who disobey their own lockdown rules and chat with WEF and Russian Oligarchs behind the scenes.
That pommy was keen bro 😂
Need you on q&a new Stan grant your a fast thinker worldly and smart great work
...but it's when your subscription gets spent towards $360B of shitty submarine as one example.
I think the American was right about the taxes not going to the proper institutions to support the people. I heard the taxes don’t even cover the interest needed to pay back the national debt. That’s because the governments borrowed money from the federal reserve banks or central banks by selling treasury bonds ( IOUs). To pay for infrastructure, services and amenities. Then they have to pay it back plus interest. A bit like pyramid scheme from a loan shark, it can never be repaid because of the compounding interest. Interest is basically a hidden tax on the people, filtering money from the taxpayers to the private sectors. Central banks are not part of the government.
A subscription service where the better you do, the more you get screwed.
Healthcare and Defence are definitely worth paying tax for, I hate tho when you hear about billions that could be spent here going overseas or to companies being bailed out etc.
Sick punt
What a legend!! Good on you for educating people
Great video.....should be shown in every high school and university.
If the government can print money, why do we need to pay taxes?
If the government can raise the Debt ceiling and borrow money, why don’t they worry about the interest repayments?
It's amazing how we have all been indoctrinated into this financial regime which includes "inflation" and then on top of that imposes additional fees called "taxes".
The difference being that via all the "additional fees" certain small groups gain total control over each and every individual.
Whilst inflation as a foundational fee that affects one and all (proportionally to the number of $ one has) clearly doesn't have enough power to give the pollies a tyrannical level of power.
Taxes give pollies way too much power over the people.
Convince me that this isn't so, please.
this is ballsy af.... well played champ
Forced to pay tax by threat of violence. No choice. - That's a problem.
Helped me relise I actually don't hate the government. I hate the greedy corrupt career poltions that run it along with some of the control freaks and some genuine goverment over reach but I definitely dislike the goverment and taxes less now then I did before watching this video
Granted we get a lot more value than our American friends, but that slippery slope is rapidly getting steeper and more slippery with one million new migrants every two years accessing the same services and a shrinking economy on a per capita basis.
Unless you are on a pension the medicare levy is a 2% of tax of your salary, so that is not nothing, and with high demand for services a lot of surgery will require a big waiting time unless you decide to pay more for private.
For now at least it's free for the vulnerable on a pension, and paid for everyone else at a cheaper rate than America.
The corporations, superannuation and billionaires get the tax subsidies and tax paid government contracts regardless and continue to pay little tax whilst the wage slaves do
Wow. This makes me feel painfully smart and depressed.