moon phases

Started this before change to "New Blogger", as backup in case of trouble with digiphoto blog "In a Small Dark Room", or rants & links blog "Hello Cruel World" . Useful - at one stage Dark Room was there, but like the astrophysical Dark Matter, we could't see it ... better now, but kept Just In Case.

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There is nothing. There is no God and no universe, there is only empty space, and in it a lost and homeless and wandering and companionless and indestructible Thought. And I am that thought. And God, and the Universe, and Time, and Life, and Death, and Joy and Sorrow and Pain only a grotesque and brutal dream, evolved from the frantic imagination of that same Thought.
Mark Twain (letter to Joseph Twichell after his wife's death)
[me, on a bad day]

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(and my Wish List)

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Persistent Taxation Myth  
A Persistent Taxation Myth
Is there a deliberate policy that circulates this myth of "paying half what I earn in tax" ?

The only people who ever "lose half their money in tax" are very low earners who may lose large amounts of benefits by earning a small amount. You only pay the marginal rate on the money you get above the limit.

For 2003-2004, you'll pay a total of $16,182 tax at $62,500 -- that's 25.9% tax -- then start paying 47 cents of any dollar above that (not counting any other fancy bits off or on).

To get close to paying 47% of your total income you have to be getting much, much more, e.g. 42% tax on $262,500; 46% tax on $962,500. Since 80-90% of Australians earn less than $62,500 pa, there'd be a very small number indeed liable. Most of those would be doing "taxation minimization" (very legally).
[permalink] posted by Mez at 5:04 pm