Ausvisitor Posted January 25 Share Posted January 25 Anyone else seething at the fact albanese lied and has rolled over and altered the stage 3 tax cuts despite promising he never would. I thought he was different but he's as bad as all the others... At least ScoMo was blatantly obvious about being a liar and generally scummy. Quote Link to comment Share on other sites More sharing options...
BendigoBoy Posted January 25 Share Posted January 25 Nope. Quite pleased to see some common sense prevail. With the way things are for many people at the moment, a bit more tax relief for the majority of workers is no bad thing. A volte face for the common good is infinitely better than staying a course that just rubs salt in the wound of those struggling the most when something could be done to alleviate a little of their strain. 4 Quote Link to comment Share on other sites More sharing options...
Blue Manna Posted January 25 Share Posted January 25 5 hours ago, Ausvisitor said: Anyone else seething at the fact albanese lied and has rolled over and altered the stage 3 tax cuts despite promising he never would. I thought he was different but he's as bad as all the others... At least ScoMo was blatantly obvious about being a liar and generally scummy. You should enjoy paying tax. It's a privilege. It's for the good of your country. You should be proud to pay tax. 1 1 Quote Link to comment Share on other sites More sharing options...
Nemesis Posted January 25 Share Posted January 25 1 hour ago, Blue Manna said: You should enjoy paying tax. It's a privilege. It's for the good of your country. You should be proud to pay tax. Can I have a drag of what yer smoking? 2 Quote Link to comment Share on other sites More sharing options...
Marisawright Posted January 25 Share Posted January 25 9 hours ago, Ausvisitor said: Anyone else seething at the fact albanese lied and has rolled over and altered the stage 3 tax cuts despite promising he never would. I thought he was different but he's as bad as all the others... At least ScoMo was blatantly obvious about being a liar and generally scummy. He's adjusting the benefits of the tax changes so that lower-income people will get more in their pocket. Good for him, they need it. Labor should never have agreed to support the Stage 3 tax cuts in the first place, it went against everything Labor is supposed to stand for. 2 Quote Link to comment Share on other sites More sharing options...
Ausvisitor Posted January 25 Author Share Posted January 25 I'm not saying so much that I'm annoyed at the change, I'll still get nearly $5k more so that's a bonus (just not as much as promised) It's the fact he promised in the manifesto, and countless times since that it would be wrong to wind back that change and the whole leadership agreed and promised they wouldn't. How can we trust them now? Quote Link to comment Share on other sites More sharing options...
Ferrets Posted January 25 Share Posted January 25 6 minutes ago, Ausvisitor said: I'm not saying so much that I'm annoyed at the change, I'll still get nearly $5k more so that's a bonus (just not as much as promised) It's the fact he promised in the manifesto, and countless times since that it would be wrong to wind back that change and the whole leadership agreed and promised they wouldn't. How can we trust them now? To be fair the RBA promised interest rates wouldn’t rise, the government is just responding to different circumstances. IMHO they should have announced this (or variation of) much earlier in the inflation cycle along with raising corporation tax alongside interest. If that had happened I think inflation would have been tempered more than just using interest rates as a blunt tool, hurting those at the bottom the most. At least with this everyone gets something and the general consensus from economists is that it’s a better approach. Crossing my fingers for the interest rates to start cooling a bit soon Quote Link to comment Share on other sites More sharing options...
Judy Posted January 25 Share Posted January 25 This won't help with paying bills now! He's only giving back the $1500 he took from us last year. 1 Quote Link to comment Share on other sites More sharing options...
Skani Posted January 26 Share Posted January 26 6 hours ago, Ausvisitor said: How can we trust them now? As much as we can trust any government. I doubt there's been any (Australian) government which hasn't reneged on some promise made at election time. In this scenario, when so many are really struggling, it's better late than never. 1 Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted January 26 Share Posted January 26 The likelihood of interest rates coming down has diminished as a result of the re-writing of the tax cuts. Added to which many will be paying more tax over the next few years due to bracket creep. The chances of Albo getting the next election win - or even being PM at the time of the election - have reduced markedly. Not a good move politically or economically. Onwards! 1 Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted January 26 Share Posted January 26 6 hours ago, Judy said: This won't help with paying bills now! He's only giving back the $1500 he took from us last year. Yes. Stage 3 needs to be seen alongside Stages 1 and 2, not in isolation. Best regards. Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted January 26 Share Posted January 26 10 hours ago, Marisawright said: He's adjusting the benefits of the tax changes so that lower-income people will get more in their pocket. Good for him, they need it. Labor should never have agreed to support the Stage 3 tax cuts in the first place, it went against everything Labor is supposed to stand for. Ultimately - and ironically - parties of the left almost always don't look after their own constituencies economically. They aren't good managers of the economy. and the less well off suffer most as a result. The present Federal Government here in Australia are no different. Best regards. Quote Link to comment Share on other sites More sharing options...
Blue Manna Posted January 26 Share Posted January 26 14 hours ago, Nemesis said: Can I have a drag of what yer smoking? I did say "you" and not "me". Quote Link to comment Share on other sites More sharing options...
Ken Posted January 27 Share Posted January 27 (edited) On 26/01/2024 at 08:33, Ferrets said: To be fair the RBA promised interest rates wouldn’t rise, the government is just responding to different circumstances. IMHO they should have announced this (or variation of) much earlier in the inflation cycle along with raising corporation tax alongside interest. If that had happened I think inflation would have been tempered more than just using interest rates as a blunt tool, hurting those at the bottom the most. At least with this everyone gets something and the general consensus from economists is that it’s a better approach. Crossing my fingers for the interest rates to start cooling a bit soon Yes, it's all the RBA's fault for not knowing about all the sanctions on Russian Oil that were going to be imposed in February 2022 when they made that promise (or prediction as they would prefer it to be called) at the end of 2020. They're the RBA it's their responsibility to know when wars are going to start. What kind of cheap plastic crystal ball are they using? Besides the only people complaining about the tax cuts for the lower paid are those who are unaware of the Trickle-Up effect. Unlike the fictional Trickle-Down effect, this one really works. The more money the poorest in society have, the more is the amount of money that flows to the richest in society. Edited January 27 by Ken 2 Quote Link to comment Share on other sites More sharing options...
Ferrets Posted January 27 Share Posted January 27 4 hours ago, Ken said: Yes, it's all the RBA's fault for not knowing about all the sanctions on Russian Oil that were going to be imposed in February 2022 when they made that promise (or prediction as they would prefer it to be called) at the end of 2020. They're the RBA it's their responsibility to know when wars are going to start. What kind of cheap plastic crystal ball are they using? Besides the only people complaining about the tax cuts for the lower paid are those who are unaware of the Trickle-Up effect. Unlike the fictional Trickle-Down effect, this one really works. The more money the poorest in society have, the more is the amount of money that flows to the richest in society. lol just making the point that situations change, so pointing to an election promise pre inflation crisis seems equally pointless 1 Quote Link to comment Share on other sites More sharing options...
BendigoBoy Posted January 27 Share Posted January 27 2 hours ago, Ferrets said: lol just making the point that situations change, so pointing to an election promise pre inflation crisis seems equally pointless Indeed. Mr Potato Head excels at pointless arguments, though. It has been fun watching Ley backtrack and try to make out she never said they would absolutely unwind the changes, regardless of what they might be, before they were announced. Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted January 28 Share Posted January 28 Albo didn't qualify his replies when asked repeatedly pre-Election (and post) about the Stage 3 tax cuts. An opportunity has been missed to simplify income tax, which is not a good thing. Flattening out the tax rates and increasing thresholds would have simplified the tax regime, and sent the right message to those with aspirations. If the Government wants to extend relief to what is being described as middle Australia it should have cut expenditure to fund a reintroduced Low and Middle Income Tax Offset, while leaving Stage 3 intact. And revisited CO2 targets - much of the cost of living crisis comes from the increasing cost of electricity and gas. We export coal and uranium to countries that use then to power their industries and don't use these resources ourselves. How ridiculous is that? We should have close to the cheapest power in the world. This Government has exacerbated the cost of living crisis, which impacts the poorest in society disproportionately. Onwards (as always)! Quote Link to comment Share on other sites More sharing options...
Ken Posted January 28 Share Posted January 28 (edited) 4 hours ago, Alan Collett said: Albo didn't qualify his replies when asked repeatedly pre-Election (and post) about the Stage 3 tax cuts. An opportunity has been missed to simplify income tax, which is not a good thing. Flattening out the tax rates and increasing thresholds would have simplified the tax regime, and sent the right message to those with aspirations. If the Government wants to extend relief to what is being described as middle Australia it should have cut expenditure to fund a reintroduced Low and Middle Income Tax Offset, while leaving Stage 3 intact. And revisited CO2 targets - much of the cost of living crisis comes from the increasing cost of electricity and gas. We export coal and uranium to countries that use then to power their industries and don't use these resources ourselves. How ridiculous is that? We should have close to the cheapest power in the world. This Government has exacerbated the cost of living crisis, which impacts the poorest in society disproportionately. Onwards (as always)! A 50% tax rate for everyone and no deductions for anything would simplify the tax system. That doesn't mean it would be a good thing. PS It's nonsense that coal mined in Australia but exported is not included in Australia's CO2 output. It's definitely under our control to do something about it. Edited January 28 by Ken Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted January 28 Share Posted January 28 I agree - particularly as the tax take to GDP ratio is 30% ... Best regards. Quote Link to comment Share on other sites More sharing options...
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