In any case 92% of people have a taxable income under 150k. So a greater proportion of the cuts are going to the vast majority of workers and where they will likely do the most good.
Those above that line wont be worse off than now. They just wont be as well off as they would have been under the libs legislation.
Obviously I support the changes, I benefit from them. The one thing I don’t get is the “cost of living crisis” & “inflationary pressures” reasoning.
Surely giving more money to people who are struggling financially will increase inflation thus making the cost of living crisis worse?
Similar to how all of the grants available for purchasing property has inflated the market, won’t businesses just increase their prices because people have more money to spend?
A lot of recent inflation has been supply driven. Theoretically tax cuts should increase the supply of labour so maybe the thinking is that this will help alleviate inflation. I think realistically it’s probably just political spin though.
Lots of high wage earners also have taxable income reduced by deductions and offsets. There were some quite eye opening figures about the taxable income of investors with multiple properties floating around prior to the 2019 election.
I mean, you’d hope it would just go towards people paying their bills, mortgages/rent and feeding their children rather than buying tvs etc.
Are we also suddenly saying people earning over 150k wouldn’t also just spend the money? Or is it better off sitting in a savings account doing nothing for those who won’t even notice it’s there…?
The head of the inquiry into the handling of Bruce Lehrmann’s prosecution spent 10 hours on the phone to journalists – including seven-and-a-half hours on the phone to The Australian newspaper – during the probe, a court has been told.
The 65 phone calls Sofronoff made spanned nine hours and 57 minutes and 55 of them were made to journalists at The Australian newspaper, O’Gorman said.
Sofronoff, in his affidavit, argued that it was his job as inquiry chair to speak with journalists, and his communications were above board.
55 out of 65 calls to a single outlet. Seems pretty odd.