Taxation

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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.
Economic reality has intruded on rosy budget predictions for years now and the Pre-election Economic and Fiscal Outlook may soon challenge Treasurer Scott Morrison’s forecasts. AAP/Mick Tsikas

Three critical tests for Budget 2016: how does it fare?

Budget repair was put off till later, and the net impact of decisions in the budget was small, but it will be easier to defend in the coming election campaign than some other recent efforts.
Whether he succeeds or not, Malcolm Turnbull’s attempt to reform the federation will be a long and tricky process. AAP/Ben Macmahon

Turnbull’s plan to fix the federation is bold – but can he deliver?

Malcolm Turnbull's bold plan to give states the power to levy income tax is a risky move, and the latest in a string of attempts to 'fix' federal-state relations that have not succeeded.
A look at spending inequality suggests America is a bit more equal than we thought. Economic inequality via www.shutterstock.com

We’ve been measuring inequality wrong – here’s the real story

A new study on inequality analyzes the impact of fiscal policy, dramatically altering the standard view of rich and poor in America. It may also change how voters and candidates think about the issue.
Will South Africa’s Deputy President Cyril Ramaphosa (left) and President Jacob Zuma support the commitments to reform the economy? REUTERS/Mike Hutchings

South Africa’s budget promises will require buckets of political capital

There are many good things about the budget, including the promised cut to the payroll, but many of the key commitments relating to how policies will support growth are, at best, pointers.

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