Hell hath no credit card like a PM scorned:
Amid growing speculation Tuesday’s cabinet meeting will pull the trigger on tweaks to the already legislated cuts, the Prime Minister and Defence Minister Richard Marles on Tuesday stressed “middle Australia” would receive more assistance, hinting workers in the lowest tax brackets would be included in the changes.
“I support tax cuts and everyone will be getting a tax cut,” Mr Albanese told Sydney radio KISS FM.
“What we need to do across the board, what we’re doing is looking at how we can help low-and middle-income earners.
“We’re looking at ways in which we can provide assistance to them. We did that last year with a range of measures.
“People are benefiting from cheaper medicines, childcare, the energy price relief plan but we’re looking at other ways as well, are there other ways that we can provide support for people?”
People are not benefitting from any of those things:
- Albo drove energy prices mad, acting too slowly on Ukraine War profiteering.
- Albo drove childcare fees mad with poorly structured subsidies.
- Albo’s immigration-led rental shock turns medicines into chump change.
To wit, the following chart does not include energy spillovers so is conservative:
I totally agree that the Stage 3 tax cuts are poorly structured and even more poorly timed.
Hence, every dollar you put further down the income chain is more into a higher marginal propensity to consume bracket. Leading to higher inflation in today’s environment. Rendering the whole exercise pointless.
Albo doesn’t care. He knows only one way to govern:
- fix nothing…
- pay everybody to ignore it…
- lie about it.
