The announcement by the NSW Government that it will abolish stamp duty and replace it with an annual property tax proves that bold tax reform is possible beyond merely giving big socially destructive income-tax cuts to the wealthy.
The tax system is a redistributive vehicle. The vehicle can, on one hand, transfer vast amounts of money from the common wealth to a megawealthy elite or, on the other hand, transfer money from the wealthy to the commons.
Continue reading “Fairer tax is possible, NSW shows”