- Joined
- 15 November 2006
- Posts
- 1,205
- Reactions
- 678
I agree that it's a disgrace but some of the numbers getting thrown around in the media are I would suggest nonsense. There's no way the government is going to slug someone who earns $80k an additional $800 tax (1%) at the point of reaching that income.
If they do introduce it, I would suggest it will be progressive. For example, an additional 1% on that part of income above $80k, rising to 2% on that part above $180k. Someone therefore on $80k wouldn't pay any extra, someone on $100k would pay $200 extra and so on.
The government has not only put a politically bad idea in the public domain but its marketing to the public by the same government has been even worse by not providing some firm numbers and thus allowing a level of media speculation that really scares the horses. The latest I see in the Fairfax press is this,
That could mean a range of things.
This so-called deficit tax idea has become a political disaster for this government, both in terms of policy principal and its marketing and for Tony Abbott in particular. Even if they ultimately back away from it, the stench of deceit will remain and that at a time when Tony Abbott as PM needs to build his credibility, not destroy it.
The Medicare levy is already going to increase by 0.5% in July so even the timing is terrible.
My local Liberal member is about to get an email.
Idiots.
http://www.smh.com.au/federal-polit...rs-hardest-hit-in-new-tax-20140429-zr1el.html
If that's the case it's not such a big hit....I read several articles about this tax and it's been described as 'cutting in' at $80,000, but also being described as an extra $800 for someone earning $80,000. As you said....very very poorly marketed. If it was marketed as a tax on the 'top 1%', or only high income earners it would be far easier for most to swallow.
In any case, dumb policy, terrible timing and completely unnecessary!