<
https://www.theguardian.com/business/commentisfree/2020/dec/13/the-morrison-government-wanted-tax-cuts-for-the-wealthy-and-that-is-what-they-have-delivered>
"Last year the treasurer, Josh Frydenberg, told parliament that
“creating one major tax bracket between $45,000 and $200,000” would
“tackle bracket creep”. He suggested that “if you get another job or a
promotion, or you do some overtime, you won’t necessarily pay a higher
marginal rate of tax”.
But that is not bracket creep. That is you getting a higher-paid job and
as a result paying a higher level of tax.
That is how progressive taxation has worked for over a century.
And this explains why the pitch to solve bracket creep was really just a
distraction for what the government really wanted to do – reduce taxes
for higher incomes.
And the PBO has found that is exactly what they have done."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
