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We could make most Australians richer and still save billions – it’s not too late to fix the Stage 3 tax cuts (theconversation.com)

submitted 2 years ago by [email protected] to c/[email protected]

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The Albanese government is about to have to make a really important decision.

It’s going to have to decide what’s more important: supporting Australians who are financially under water, or keeping an election promise.

And it’ll have to do it soon. It’s already working on its May budget, now just six months away.

That choice will affect almost every Australian, and it could shape whether you’re thousands of dollars a year better off – or not – from July next year.

[...] When asked in an Australia Institute survey what was more important – keeping a promise or reacting to changing economic circumstances – 61% picked reacting to changing circumstances.

Even among Coalition voters, 56% supported reacting to changing circumstances.

It puts the Stage 3 tax cuts in play. There’s still time, and plenty of electoral and economic reasons to rejig them.

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[–] [email protected] 4 points 2 years ago (6 children)

ELI5: Why were these tax cuts even proposed in the first place? They offer no benefit to the vast majority of voters, and the lost revenue will end up being a detriment to public spending that DOES provide a benefit to the vast majority of voters. Why does this have majority support?

Cost of living is making it hard to afford to exist, but thank goodness the rich have some more pocket money.

[–] [email protected] 7 points 2 years ago

They were a product of the lnp government whose whole selling point is essentially "we're bringing down your taxes". You can see it for example in how they always campaign around the narrative that Labor are coming for your money. Death taxes - the Bill Australia can't afford etc. That and 'stop the boats'. It's very effective I guess, who doesn't want to pay less taxes? Most people don't really understand the complexities of why paying tax is good for economic equity and how we all benefit from properly funded services.

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