We don't need to tax people heavily in this country and we shouldn't want to as it hampers innovation and social pep.
If we need capital, instead of pilfering it off the tax base we should be running some of the huge mines we have in this nation as GBE's. Put the proceeds straight into the national balance sheet, or even a sovereign wealth fund etc. If the world is changing into a commodity-based Bretton Wood III, I am flummoxed why we would be allowing foreign companies owned by foreigners often with foreign workers to be looting our Australian resources for chump change. Get some good use out of our own resources and then you could start talking about increasing the public outlays...but not before. Alabanese's plan is madness.