What would tax reform look like if the goal were higher wages and stronger long-term growth — rather than more revenue? In this episode, Gene Tunny and John Humphreys examine capital gains tax, bracket creep, and income tax reform through the lens of productivity and living standards. While the discussion focuses on Australia, the principles apply everywhere. How should governments tax capital versus labour? Should tax brackets be indexed to inflation? And how can tax systems encourage saving, investment, and innovation? This episode explores the economic ideas behind a genuinely pro-growth tax reform agenda.