Paul Keating in the AFR this weekend on Shorten's current tax plans

"Labor will be proposing a tax rate for high income earners of 49.5 per cent. I believe the top rate of tax in Australia should be no higher than 39 per cent at the most,' he told AFR Weekend.

"'I reduced the top marginal rate from 67 per cent to 47 per cent just on 30 years ago and here we are now having it go to 47.5 per cent or, if Labor had its way, to 49.5 per cent.  This is too punitive a level, where the state is confiscating almost half of people's income... '"

The Age, 29/8/2005

http://pandora.nla.gov.au/pan/33415/20080705-0129/www.henrythornton.com/articlef817.html

Bill Shorten and Lindsay Tanner are trying hard to rebuild Labor's economic credentials. 

"Mr Shorten has proposed a radical simplification of the tax scales with a top rate of 30 cents in the dollar, a medium rate of 20 cents and a lower rate of 10 cents. He said the top rate would cut in above $100,000, with income between $50,000 and $100,000 taxed at 20 cents in the dollar, and income below $50,000 taxed at 10 cents — all to be funded by 'cutting out all the business tax rorts and business welfare'."

"Mr Shorten is preparing to have his tax plan subjected to rigorous economic modelling and thorough costing."

Bill Shorten now argues for higher taxes for "millionaires" but he didn't always feel that way.

Back in 2005, when he was getting around on Dick Pratt's private jets, Bill argued passionately for a top rate of just 30 cents in the dollar - even to Canberra's Fabians.

And the man he singled out for praise, the man he was most in agreement with?