Presented here are the issues, ideas, philosophies, or beliefs involved in deciding whether you believe that Franking Credits as used in Australia are fair.

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Overview

Franking Credits are a method used in taxation where when you get a share dividend you are credited as having paid the tax the company has paid.

The Pros and Cons is a concise but harsh presentation of arguments. The discussion has more conventionally presented arguments.

Con

• They are unfair. They benefit the wealthy.
• They lead to scams like share buy-backs that are an obvious tax fraud.

Pro

• They stop double taxation on dividends.
• The help retirees who are a powerful lobby

Facts

• Those who pay no tax, especially Super Funds in pension mode, get a tax refund for all taxes a company has on the dividends they own. If a company was 100% owned by such people, that company would never pay any tax no matter how profitable it was.

Beliefs Driving Opinions

My new approach is to consider an extension of the beliefs behind an opinion - namely, the identities to which a person subscribes. Not just gender, race, religion, but also small ‘isms and cascaded beliefs, fears, angers, aspirations. Of course the whole of psychology could be brought to bear on this, but I attempt to distill that into the identities that one holds.

e.g. I am logical, sceptical, scientific, loving, caring, loose, liberal, optimistic, a  male up against aggressive feminism, anti-woke, anti-hysteria, anti-religion (lapsed atheist), the wisdom of the crowd can be wrong, ethical, environmental, nature lover, anti-excess consumption, egalitarian, equal opportunity, respecter of animals….. I don’t include these: white privileged, financially secure, happily married, retired…

• Feminism; left; socialism; anti-capitalist; Democrat; age; evidence based;

Detailed discussion