Income tax rates in Australia

The thing with tax cuts, they aren't one dimensional, they should to a large part circulate in the economy and end up as revenue.

What Labor was suggesting was in some ways kicking the can further down the road to the next generation, they were stripping wealth out of the middle class and re distributing it to the lower and higher income earners, this wouldn't have changed the underlying productivity problem in the economy just reduced inter generational wealth transfer. Just my opinion, but you are never going to improve living standards by increasing personal taxation, just push everyone down to the lowest common denominator.

sptrawler said:

The thing with tax cuts, they aren't one dimensional, they should to a large part circulate in the economy and end up as revenue.

What Labor was suggesting was in some ways kicking the can further down the road to the next generation, they were stripping wealth out of the middle class and re distributing it to the lower and higher income earners, this wouldn't have changed the underlying productivity problem in the economy just reduced inter generational wealth transfer. Just my opinion, but you are never going to improve living standards by increasing personal taxation, just push everyone down to the lowest common denominator.

Click to expand...

OT tax
and hiding behind my "shield of steel" as i write this ........ i am not so sure that our standard of living will continue to increase over the next 30+ years ...... but also not convinced it will not (just unsure)

HelloU said:

OT tax
and hiding behind my "shield of steel" as i write this ........ i am not so sure that our standard of living will continue to increase over the next 30+ years ...... but also not convinced it will not (just unsure)

Click to expand...

IMO the biggest issue facing Australia and its living standard, is the National debate is all about social reform, non is about economical reform.
This leads to everything staying the same, and the Governments trying to see, who they can 'rip' tax off next.
Really the debate should be about, how we can keep Australia functioning as a first World economy and the best way to facilitate it.
Our electricity/energy costs are stupid, our road and rail infrastructure is ancient and causes bottlenecks everywhere, our ports are still set up like we are still in the 1920's.
All these problems cause loss of productivity, every truck stuck in a traffic jam, is a loss in productivity. Every ship sitting out in the outer harbour waiting for a berth is a loss in productivity. Every train waiting in a siding for hours, to let another train going in the opposite direction past, is a loss in productivity.
Some job is sitting idle waiting for something on that truck, or that train, or that ship.
Australia to become competitive, has to think about how it does things and what it wants as a final outcome with regard living standards.
Just my opinion.

"Really the debate should be about, how we can keep Australia functioning as a first World economy and the best way to facilitate it."

spt, u crack me up in a mouth of babes sense ......

if only we had a group of peeps whose job it was to do that ...... (i know it is not that easy though)

kinda reminds me of how pollies get a heap of extra pay and allowances to be on all those parliamentary committees, sorta makes me wonder what they are actually paid to do in their day jobs if making government decisions is an "extra curricular activity" and therefore paid extra to do.

HelloU said:

"Really the debate should be about, how we can keep Australia functioning as a first World economy and the best way to facilitate it."

spt, u crack me up in a mouth of babes sense ......

if only we had a group of peeps whose job it was to do that ...... (i know it is not that easy though)

kinda reminds me of how pollies get a heap of extra pay and allowances to be on all those parliamentary committees, sorta makes me wonder what they are actually paid to do in their day jobs if making government decisions is an "extra curricular activity" and therefore paid extra to do.

Click to expand...

Well a lot of the problem is, we do have a group of peeps who can do it, but they would rather talk about social chit chat. It is called the media, the goggle box, the morning muppett show.
The other problem you obviously have, is understanding that politicians, actually don't have to be qualified.
They usually get driven by the public debate, as was shown with the SSM issue, so to think they will actually form any sensible policy that goes against mainstream debate is a bit of a dream. IMO

sptrawler said:

Really the debate should be about, how we can keep Australia functioning as a first World economy and the best way to facilitate it.
Our electricity/energy costs are stupid, our road and rail infrastructure is ancient and causes bottlenecks everywhere, our ports are still set up like we are still in the 1920's.
All these problems cause loss of productivity, every truck stuck in a traffic jam, is a loss in productivity. Every ship sitting out in the outer harbour waiting for a berth is a loss in productivity. Every train waiting in a siding for hours, to let another train going in the opposite direction past, is a loss in productivity.
Some job is sitting idle waiting for something on that truck, or that train, or that ship.
Australia to become competitive, has to think about how it does things and what it wants as a final outcome with regard living standards.
Just my opinion.

Click to expand...

Actually I think it's also the opinion of the Reserve Bank, but we'll see if the PM and Treasurer are smart enough to catch on.

SirRumpole said:

Analysis of the gov's tax changes.

Considering that they are built on extremely optimistic assumptions of economic growth, can they be
sustained ?

I reckon future governments of either persuasion will be forced to claw back revenue with the sort of 'reforms' Labor was proposing at the last election.

https://www.abc.net.au/news/2019-07-04/tax-cuts-and-spending-cuts/11273454

Click to expand...

Totally unfunded is the correct term, standard US Republican BS cut taxs then squeal how the government is spending too much then cut services or transfer to private hands.

Then middle Australia if there are any left will foot the bill.

IFocus said:

Totally unfunded is the correct term, standard US Republican BS cut taxs then squeal how the government is spending too much then cut services or transfer to private hands.

Then middle Australia if there are any left will foot the bill.

Click to expand...

Tax cuts, or cheque's in the mail, is still unfunded.

Then cut access to the disability support pension, to fund the bill.

How short our memory is.

The latest ATO's tax office statistics.