On the plus side, low-and-middle income earners mainly benefit from the tax cuts on offer in the coming year — Labor's promised tax cuts are similarly targeted — and that gets a big tick.
Leaving aside the question of fairness, lower-income earners are more likely to spend the money than save it, providing stimulus to a soft economy, and less likely than higher-income earners to spend it on imported luxuries and overseas travel. But how much better would it be if we could boost peoples' incomes through a big lift in wages, after a period of wage stagnation not seen since World War II? That would provide a much bigger boost to workers' wellbeing than a tax cut.
How much better would it be if we could grow the economic pie by lifting productivity growth, which has also been at tepid levels? Ultimately, there is no magic pudding. No matter what the politicians promise, Australians can't demand what they expect from government"all without raising taxes". Or lowering them, even.
Even looks like Bill. Auspol
Hey you cannot use The Magic Pudding! That is Bill’s Budget recipe!
Bring on the end to negative gearing and excess FC refunds fairtax
Oh yes - it’s our money in, our money out - this won’t ever change
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Low to middle income earners to get 'little benefit from Coalition tax cuts'Modelling conducted by the Australian Council of Social Service shows lower earners would get a maximum of $4 a week extra from the next phases of the Coalition's income tax package. So do you guys get faxed the Labor parties talking points every morning, or do they just email them through for you? 🤷🏻♀️😂 I think this comment is true 4$ wow
Source: SBSNews - 🏆 3. / 89 Read more »
Minister hints at extra tax cuts in budget - 9NewsThe coalition government will hand down the first surplus budget in more than a decade, underpinned by strong iron ore prices and under-spending on disability services. 9News well done Bill Shorten has already promised to reverse the budget as the words 'budget surplus' is foreign to the Labor party. Fake Ausbudget2019 = Cormann not quizzed on basic factual errors. When Coalition won 2013 election, net govt debt was 10% of GDP, now 18%. Gross debt was $273 billion, now $542 billion dollars. Tax to GDP was 21.5% now 23%. YourMoneyAus YourFutureSA YourMoneyUK ABC_NewsRadio
Source: 9NewsAUS - 🏆 10. / 72 Read more »
Coalition to bring forward tax cuts for low and middle-income earnersA multi-billion-dollar reconfiguration of the Coalition's seven-year tax plan to favour low- and middle-income earners will be at the heart of Treasurer Josh Frydenberg's first Federal Budget. Nice. Cut big business tax too. How is that sustainable given 60% of Australians pay little or no tax More bribes.
Source: abcnews - 🏆 5. / 83 Read more »
Budget sets up income tax cut showdown with Labor | Sky News AustraliaThe government has declared the budget is ‘back in the black’, with the 2019 federal plan promising $45 billion in surpluses over the next four years. \n\nThe budget has however set the Coalition up for an income tax cut showdown with the Opposition, as the government promises big savings for high and low-income earners.\n\nImage: News Corp Australia\n\n Election2019 budget2019 auspol How? Labor offered bipartisan support so that it could be implemented immediately
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Budget surplus next year hides tax cut time bomb down the lineThe Treasurer has pre-emptively laid claim to the first budget surplus in 12 years. But we're not there yet, and the Government's tax cuts sow the seeds of future deficits next decade. Just like Howard and Costello, permanent tax cuts hidden by a temporary revenue spike I am still attempting to come to terms with the fact Australia must have more entirely stupid people than I ever imagined in my worst nightmares. I really though Howard was going to be a short term thing.
Source: abcnews - 🏆 5. / 83 Read more »
Budget sets up income tax cut showdown with Labor | Sky News AustraliaThe government has declared the budget is ‘back in the black’, with the 2019 federal plan promising $45 billion in surpluses over the next four years. \n\nThe budget has however set the Coalition up for an income tax cut showdown with the Opposition, as the government promises big savings for high and low-income earners.\n\nImage: News Corp Australia\n\n
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Coalition's last-minute tax cuts 'look hollow': McAllister | Sky News AustraliaFULL INTERVIEW: Labor Senator Jenny McAllister has called out the government on the expected tax cuts for low and middle-income workers in Tuesday's budget, saying the 'last-minute actions to shore up support look hollow'.\n\nSenator McAllister says it is 'remarkable' that the government has done 'so little' for low and middle-income earners over six years in government.\n\nJosh Frydenberg is expected to announce a boost to the Low Income Tax Offset during his first budget as Treasurer.\n\nWhile Labor is 'open to relief' for Australians, Ms McAllister argues the cuts are coming 'too little too late' from a largely 'indifferent' government.\n\nImage: News Corp Australia\n\n\n\n\n\n\n BusinessCardDesign Better not spend my 40cents all at once
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Coalition is playing policy catch-up on tax cuts: Albanese | Sky News AustraliaFULL INTERVIEW: Labor MP Anthony Albanese says the Coalition is 'playing catch-up' on tax cuts and climate policy, arguing Labor has 'led policy debates from Opposition'.\n\nIt is expected the Coalition will deliver a boost to Low Income Tax Offset as part of a series of changes aimed at providing relief for people on low and middle incomes in Tuesday's budget.\n\nMr Albanese says Labor has shown 'consistency in policy, personnel and values' while the Coalition has offered up six years of 'division and disunity' and 'cuts to education, health and infrastructure'.\n\nThe Labor MP says Australians 'won't be conned' by sweeteners in the upcoming budget, arguing that people won't forget what a 'shambles' the government is.\n\nImage: News Corp Australia\n\n\n LNPFail The only Government to spend 6 years in Opposition Albanese, on his very best and smartest day, still needs watering twice a week!
Source: SkyNewsAust - 🏆 7. / 78 Read more »
What tax cut you’ll get from the Federal BudgetThe Budget is brimming with sizeable tax cuts for millions of Australians. This is how much money is headed back to your pocket. Budget2019 Wow, incredible, well done.
Source: newscomauHQ - 🏆 9. / 77 Read more »
Federal Budget 2019: Coalition woos voters with cash, tax cutsThe Morrision government has promised tax cuts worth $158 billion over 10 years in an audacious bid for votes at the federal election, despite warning signs over the economy and doubts about the Coalition's ability to deliver on its pledge. CroweDM BS is BS no matter how they present it. auspol CroweDM The big print giveth and the small print taketh away. CroweDM I want a party to campaign on tax increases for once.
Source: smh - 🏆 6. / 80 Read more »