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A comment on Analysis finds Australia’s inflation being driven by company profits, not wages. Parent comment

Re:Analysis finds Australia’s inflation being driven by comp... by theteapot on Friday February 24, 2023 @11:40PM (#34933969)
> australian taxation is already one of the highest in the world.

Where did you pull that from?

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Re:Analysis finds Australia’s inflation being driven by comp... by chii on Saturday February 25, 2023 @12:27AM (#34934167)
https://wisevoter.com/country-rankings/highest-taxed-countri...

Specifically i'm gonna call out income tax in australia :

Income Tax Rate 45%

Ranked in the World #17

> ... This means that Australians are paying a larger share of their wages in taxes compared with other countries.

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Re:Analysis finds Australia’s inflation being driven by comp... by BigJono on Saturday February 25, 2023 @01:07AM (#34934311)
That site literally gives the overall tax rate as 28.68%, 42nd in the world. The US is 53rd, and the UK is 29th.

The single figure of 45% is the highest tax bracket, which only starts at $180,000/year. Australia has a higher minimum wage than most countries, so a large proportion of the population are in minimum wage jobs. People on minimum wage here make ~$40k/year and pay around 14% tax.

Not that any of that really matters if you're talking about government spending, since the overall tax rate is what determines government income, not what any individual person is paying.

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Re:Analysis finds Australia’s inflation being driven by comp... by theteapot on Saturday February 25, 2023 @01:11AM (#34934328)
Nice try. 1. Income tax is just kind of tax. 2. 45% is the highest tax tier in a 5 tier system, paid on every dollar over $180K. 3. The same site you got "#17" from says Australia is ranked #42 the World for an overall "tax burden" statistic ...
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