You might have heard this: “The biggest SCAM in life: Paying taxes on money that you make, taxes on money you spend, and taxes on things you own, that you already paid taxes on, with already taxed money.”
A previous FET article explained why this makes no sense, as money circulates and value accumulates. We chat more about why this is wrong and what are legitimate issues in the Australian tax system.
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Theme music: Happy Swing by Serge Quadrado Music under Creative Commons Licence CC BY-NC 4.0
FET #30: Tax fallacies