Tax

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Warren Buffett’s voice has been one of the loudest arguing it’s time to raise taxes on millionaires and billionaires like him. Rick Wilking/Reuters

Are we ready to raise taxes on the rich? History says no

Two centuries of tax policy show efforts to raise taxes on the rich hinge on questions of fairness. The history also suggests proponents have a tough road ahead.
Deloitte strongly argues the budget has a revenue problem, not just a spending problem – a proposition consistently rejected by Treasurer Scott Morrison. Lukas Coch/AAP

Deloitte projects $129 billion four-year cumulative deficit, proclaims ‘a revenue problem’

The federal budget deficit from now through to 2018-19 is likely to be $129 billion, $21 billion worse than in the December official budget update, according to Deloitte Access Economics.
Chinese businesses are unsure about how import duties will be applied, and so removed some imported products. Michael Reynolds/AAP

China’s e-commerce laws not a ‘crackdown’ but closing a loophole

China's newly introduced "e-commerce laws" are actually just closing a loophole in regulation and shouldn't be seen feared by Australian businesses trading with the country online.
Brazil is reeling from the political corruption scandal involving former President Luiz Inacio Lula da Silva (pictured on the fake bills) and members of the current government. Reuters

From Panama papers to Brazilian bribes: why corruption is so costly

The headlines are full of stories of corruption and mega scandals, but what does it mean for the rest of us? And what makes the economic cost of corruption so high?

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